14 DAY TRIAL // Transferring money has just been made a great deal easier by Maxis company. This top mobile phone operator from Malaysia has just introduced the first mobile international money transaction service called M-money.
Maxis mobile phone service provider designed the M-money product only for people that live in the Philippines. This is a helping service that is meant to provide them the opportunity of transferring average sums of money. The maximum transfer value is set at the local equivalent of USD 143. Furthermore, the money can be received at any one of the 6,000 outlets of Globe. Moreover, the maximum amount of money that can be transferred on a monthly basis goes up to USD 2,940 a month.
The service is mainly addressed for the foreign workers that are currently living in Malaysia in order to regularly send money back home to their families.
The M-money service brings some advantages too. Transferring money through this system is much more economical than using the services of a bank. Maxis retrieves only USD 1.5 at every money transaction, which is considerably less than the fees that regular banks charge for such processes.
Maxis currently provides communication and Internet technology in India and Indonesia for a number of around 13 million customers in the region. Moreover, this company's chief executive Sandip Das said that Philippines and Indonesia annually make more than USD 4 billion worth of transactions.
Maxis has announced that they plan on expanding the M-money service to Indonesia too, starting next month. The concept for this solution has sprung from the fact that thousands of Filipinos and Indonesians live in Malaysia working as low-cost laborers in order to provide for their families. This situation has always made money transfers between banks reach a high level for some time now.