Written on: 20/05/2012 by arifch (1 review written)
I always thought that money transfers can only be made through Western Union and Moneygram until I discovered spotCash! while attempting to read in my birth language of Bengali in local newspaper. So reluctantly, the next time I had to send money to my uncle in Bangladesh, I took a shot at Placid Express. Long time ago I thought all of those Western Union signs meant they were company branches but discovered soon after that they were 'agents' of Western Union. Interestingly, there were bunch of Placid Express agents near me although I didn't large Placid Express signs in any of them.
So, I went in to the nearest 'agent' and asked to complete a money transfer. I was asked what option would I like. Options, huh? I want to transfer money, thats all. Apparently, I had the option of using 'spotCash' which allows money to be picked up by my recipient from any authorized location and Bank Deposit which would allow me to transfer money to a bank account. Interesting. The agent sort of stressed that spotCash would be good because my beneficiary can collect from anywhere. I asked him, whats the big deal? With Western Union, my beneficiary can collect from anywhere too. Then he told me, the price is MUCH cheaper and I can get better rates.
Anyway, I paid 6.00 for the transfer and a receipt was given with all these different rates for what appeared to be the name of banks. With Western Union, I always got the same rate. With spotCash, I saw many options. This to me seemed like a good option. The more choices, the better! My uncle was able to collect the funds when it was morning in Bangladesh with no problem. He actually visited a location that provided the highest rate. I also got a text on my cell with tracking number info and so did my Uncle. What I didn't have a problem with but others might was the fact that I got a text message late night informing me that my uncle picked up the funds. Imagine if others had their text message ring tone on loud? That would be a little annoying.
Overall a good service. I just didnt know there was actually a cheaper option with the same reliability.