Posted by: kalidasbhaisaab August 10, 2016
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Thanks Monit Vyas. that Exchange Rate IQ is a useful website.
QQ - how does site like Exchange Rate IQ work - do they directly screen scrape data from other financial institution website or do they rely on services like Yodlee. I wanted to understand how platform financial data are shared amongst 3rd party free data providers. Because we are seeing increasing trends in Fintech industry where firms like Feex, Credit Karma, Motif are providing exceedingly freer financial products (which two years back nobody could imagine would be free).
Re Mucha - I see my Hermano angry about Muncha being taken over by another company. Not sure whether that is true. But recently I have been using Muncha because i) there are no fees for below $1000 transfer (or very minimal, e.g $5 for $1000 transfer). I have not sent more than $1000 at a time, so I am not sure about transfer fee above that amount. For me, Muncha is cheaper than Moneygram and Western Union. The only negative is that it takes few business days and money is deposited in receiver's bank account rather than directly providing cash. ii) they call my parents when they deposit money in my parent’s bank account iii) their exchange rates are always up to the par with Moneygram.
QQ - how does site like Exchange Rate IQ work - do they directly screen scrape data from other financial institution website or do they rely on services like Yodlee. I wanted to understand how platform financial data are shared amongst 3rd party free data providers. Because we are seeing increasing trends in Fintech industry where firms like Feex, Credit Karma, Motif are providing exceedingly freer financial products (which two years back nobody could imagine would be free).
Re Mucha - I see my Hermano angry about Muncha being taken over by another company. Not sure whether that is true. But recently I have been using Muncha because i) there are no fees for below $1000 transfer (or very minimal, e.g $5 for $1000 transfer). I have not sent more than $1000 at a time, so I am not sure about transfer fee above that amount. For me, Muncha is cheaper than Moneygram and Western Union. The only negative is that it takes few business days and money is deposited in receiver's bank account rather than directly providing cash. ii) they call my parents when they deposit money in my parent’s bank account iii) their exchange rates are always up to the par with Moneygram.