International money transfer for ATM pick up - what you need to know
If you want to send money to Peru or transfer money to the Dominican Republic, one of the ways now available through Small World sending via an ATM. This allows you to send money online from wherever you are in the world and ensures that it will arrive at an ATM for a friend or relative in either of these countries to collect.
The process is easy and secure, but why would an ATM pickup be the right choice for you and your family? Read on to find out.
Why is ATM pick up a good option?
First and foremost, transferring money online for your recipient to pick up at an ATM doesn’t rely on them having a local bank account.
ATM pick up is safe and security protected, but available to people who are unbanked. Instead of relying on their bank account details, your recipient is given unique security codes that enable them to access the money you are sending quickly and easily.
In countries where opening bank accounts can be challenging, this is a good way to ensure your money gets to where you want it to go without any additional worries.ATM pick up also allows you to transfer money and avoid any face-to-face contact, great if you are social distancing or worried about security.A friend or relative could collect their money safely without having to physically enter a bank or visit a money transfer agent.Or, if the money is being sent to an elderly or vulnerable relative, someone could pick up the money from an ATM on their behalf.
Money transfer and social distancing
Not only this, it is currently far more efficient. Social distancing is impacting the number of places that are open for cash pickups, and many of those that are open are running at significantly reduced opening hours. Therefore, any transaction involving external agents is limited.
ATM pick up in Peru and the Dominican Republic offers an easy service that enables your friend or relative to receive money from overseas without putting their health at risk.
However, while ATM pickup is available for those who are unbanked, it is important to note that in order to use the Small World service your friend or relative must have transacted with Small World at least once before they are able to use an ATM to receive money.
This doesn't need to involve the use of a bank account; it may be a cash pickup. This measure is put in place for security reasons, to ensure your recipient is who they say they are at the receiving end of the transaction.
Send money to the Dominican Republic with ATM pick up
To send money to The Dominican Republic for an ATM pick up, you can use the Small World App, your online account or transfer the money by telephone. Then your money is transferred via the following process:
They must make sure to enter the PIN correctly, as after three incorrect attempts they will only be able to access the money by going into the bank that the ATM is operated by.
Send money to Peru with ATM pick up
To transfer money to Peru for an ATM pick up, you can again use the Small World App, your online account or transfer the money by telephone. Once the transaction is complete, the sender (you) must inform the recipient that the amount is ready to be picked up.
At the ATM, the recipient will enter:
- Their telephone number
- Their ID number —a unique set of digits that are given to them by Small World when they register
- The amount of money they are due to receive
This information will gain them access to the money in cash. If the money is not collected within two days of the transaction by the sender, the friend or relative will have to pick it up from the bank instead.
To avoid this, ensure to take the time difference into account and communicate with the recipient promptly, allowing them enough time to get to an ATM.
To summarise ATM cash pick up
Sending money to friends or relatives in Peru or the Dominican Republic via an ATM is a great option for many people. The service:
- Is available to people in Peru and the Dominican Republic countries who do not have bank accounts, so long as they’ve made at least one cash pick up with Small World previously
- Is security protected by way of a unique PIN or ID number (generated by Small World)
- Allows your friend or relative to pick up cash while still observing any social distancing rules
- Is much more efficient that picking up cash through an agent due to widespread changes in opening hours due to COVID-19
Other popular ways of sending money to Peru, are:
- Cash pick up
- Bank deposit
- Airtime top–up
Other popular ways of sending money to The Dominican Republic, are:
- Cash pick up
- Bank deposit
- Home delivery
Our main partners in The Dominican Republic are Banco Union, Banco BHD Leon, Caribe Experess, Cibao Express and BanReservas