MOIN enables transparent, cheap, and quick cross-border money transfer.
What is MOIN?
MOIN is a South Korea-based cross-border money transfer company found in 2016 by Ilseok Suh. MOIN’s money transfer service is available in 33 different countries. In 2019, KPMG and H2 Ventures selected MOIN as one of 100 Leading Global Fintech Innovators.
MOIN’s service stands out for 5 key features:
- Fees up to 90% lower than banks;
- Quick transfer that allows you to receive the money within 24 hours or less on average;
- Conveniently apply for transfer in 5 minutes, anywhere anytime using its mobile app or website;
- Transparent transfer process that gives both you and the recipient real-time notifications on the transfer status; and
- Perfectly secure blockchain-based platform with all your sensitive information encrypted.
What makes transferring money through MOIN so cheap?
MOIN has developed its own blockchain-based and non-blockchain-based technologies to provide a competitive transfer service. Furthermore, it utilizes mathematical algorithms to efficiently manage foreign exchanges and provide reasonable and affordable service. MOIN adopts pre-funding and pooling methods to transfer money to the recipient’s account without going through an expensive and lagging SWIFT network or intermediary banks. Prefunding involves sending a bulk of funds in advance to overseas partner companies so that partner companies can transfer money to local recipient accounts when MOIN requests. Pooling involves gathering all of the transfer requests from users and transferring the total amount to partner companies at once every day. MOIN also offers discounted fees to all users for their very first transfer using MOIN.
To optimize user experience, MOIN provides you with:
- real-time comparison of fee with commercial banks
- calculation of the exact amount of receiving amount before you send money
- remittance information saving function so that you don’t have to waste your time entering recipient details every time you send to the same person