Banana Pay: The Money Transfer
Service To Empower Your Family
As a caregiver, your utmost priority is to take care of your family. Finding work in some
cases lead you to look for the best opportunities abroad. This may require you to travel to
countries like the United States to work and send money back home to support your family.
However, transferring money across borders can be difficult, particularly if you are in a
foreign country with unfamiliar financial systems.
You may find yourself asking for advice and opinions on the best banks and money transfer
services but in the process, you will be left overwhelmed. That’s why we’re excited to
introduce you to Banana Pay - the hassle-free money transfer service that empowers you to
take care of your family’s needs with ease. With Banana Pay, remit money home is as easy
as 1, 2, 3.
Say goodbye to stressful money transfers and hello to peace of mind. To understand the
Banana Payment System, you will have to understand the rich history of International Money
Transfer ssytem to understand why taking advantage of this service is the best for you. Let’s
explore.
History Of International Money Transfer Services
Did you know there is an ancient method of transferring money across the globe that does
not rely on the physical movement of cash or a formal banking system? This method was
used to ensure long-distance trade was effortless and guaranteed payment.
Informal Value Transfer Systems (IVTS),as it is known, was a revolutionary payment system
that was safe and relied on trust to ensure transactions were completed.
What is Informal Value Transfer System?
Informal Value Transfer System (IVTS) is a global transaction system that allows people to
do money transfers to anyone anywhere in the world in a matter of minutes. IVTS is a
groundbreaking payment method that originated over 4000 years ago and perhaps even
more. It was a method used to settle accounts between villages and this method was
successfully used in long distance due to its unique and dependable nature.
It was commonly used along the Silk Road, an ancient trade route, to pay for transactions
without carrying cash. This method was safer because travelers were less likely to lose their
money making it a popular financial tool to transfer money.
This money transfer system was a preferred method of transaction because of the following
advantages:
● It was cheaper to send money because it was affordable.
● It was faster than formal transactions because there was less red tape to complete a
transaction.
● Cultural preference made it a better option because you dealt with people you can
trust who were usually members of your community.
● There was a higher trust in the IVTS system than in the modern banking system with
no hidden fees.
Today, IVTS is still used in many countries, especially where banking systems are inefficient
and financial policies can be restrictive but it is highly illegal.
Understanding How The Informal Value Transfer System
Works
The genius of the IVTS system is its simple and efficient way to transfer money across
borders. Let’s say Ahmed in Country A wants to send $10,000 to his sister Fatima in
Country B. He could use a bank or other methods, but they may involve high fees and
currency exchange rates.
Instead, Ahmed decides to use a Informal Value Transfer System Agent, a person who is
part of a global network. He gives the IVTS agent the money and a password to be used in
the transaction. The IVTS agent charges a small fee of 0.5% and relays the transaction
details to another IVTS agent in Country B.
Fatima then goes to the IVTS agent in her country, provides the password, pays the fee of
0.5%, and receives the money in local currency. The IVTS agent in Country A now owes the
IVTS agent in Country B but they have ways to settle this amount among themselves as this
is not the only transaction of the day.
The Reality of the Informal Value System Today
The IVTS is built on a foundation of trust, and those who betray it severely damage the
community’s reliance on a system established over many years. To address the damage
done by criminals to this system, regulation, and licensing of the Informal Value Transfer
System has been implemented to prevent fraud and corruption. This was primarily done to
prevent the emergence of unlicensed underground money transfer services that would
further harm the community by unknowingly supporting criminal activities . However, it’s
worth noting that the Informal Value Transfer system has had a lot of positive impact.
It has been used to transfer money during disasters fast due to lack of bureaucracy in the
system. Individuals, companies and even governments have at one time used this system to
conduct business with countries that have basic or no formal financial institutions.
In today’s globalized world, people working abroad require the best international money
transfer service that values the importance of community and strives to uphold the legacy of
the Informal Value Transfer System.
In recognition of this, Tawakal Express an established company in international funds
transfer set up Banana Pay. It is a leading International Money transfer service that has filled
the void that ensures community and family are taken care of.
It does this by ensuring families enjoy the best wire transfer services with the same values of
community and trust that had been previously established by the IVTS. With over 30,000
customers seamlessly enjoying International fund transfers it is time for you to join the
family.
Why Banana Pay Is the Best To Wire Money Overseas
Banana Pay has been licensed in 22 select locations that will ensure that you take care of
your family’s needs fast through the best International Wire Transfer service. It is the most
reliable way to send money to your family in Africa and different countries worldwide.
Utilizing one of the best telecommunication systems in the world allows Banana Pay to
provide you with the following benefits:
● Send Money to Anyone, Anywhere in the World from the comfort of your phone
● Enjoy Fast, Secure, and Affordable Money Transfers
● Low Fees, Great Exchange Rates
● Trustworthy and Secure Wire Transfer
● The Easiest Way to Transfer Money Internationally
In addition, Banana Pay offers various payment options to your family members, allowing
them to receive their money instantly. They can choose to receive the funds via MPESA,
EVC PLUS, ZAAD, SAHAL, and SOMABANK, making it more convenient for them.
In conclusion, Banana Pay is an online wire transfer service that values trust and
community. They believe that community plays a crucial role in their mission. By studying the
ways in which previous money transfer services have served the community, Banana Pay is
well-equipped to serve the community today.
They offer exceptional services and aim to become the top global money transfer service
with a physical presence in 22 U.S. States you are assured of the best online money
transfer. You can visit their website or App to enjoy seamless money transfers to your loved
ones.
