Easy and fast money transfers have become essential in today’s globalized world. Tiqmo, a digital wallet based in Saudi Arabia, offers seamless international money transfers. Whether you’re supporting family abroad or handling business transactions, Tiqmo provides a user-friendly and cost-effective solution. This guide will walk you through how to use Tiqmo for international transfers, including setting up your account, adding funds, and ensuring secure transfers.
What is Tiqmo?
Tiqmo is a digital wallet service available in Saudi Arabia. Designed for individuals who need to send money internationally, it offers competitive exchange rates and a smooth user experience. The app allows users to send funds to various countries, securely manage their money, and conduct transactions using only their mobile devices.
The platform’s strength lies in its integration with the Saudi government’s Nafath authentication system, which ensures the security of your transactions and compliance with local regulations. Tiqmo provides an efficient alternative to traditional banking channels, which can be slower and often more expensive.
How to Register for Tiqmo
Step 1: Download the App
To start, you’ll need to download the Tiqmo app, available on both Android and iOS platforms. Once installed, open the app and begin the registration process.
Step 2: Enter Your Mobile Number and Iqama
You’ll be asked to input your Saudi mobile number and your Iqama (residence permit) number. The app will verify your information, linking it to your identity.
Step 3: Authentication via Nafath
Tiqmo uses Nafath, the Saudi national digital identity system, to authenticate users. This step adds a layer of security, ensuring that only you can access your Tiqmo account. Follow the on-screen prompts to complete authentication.
Step 4: Provide Personal Details
After successful authentication, you’ll be required to fill out personal information such as your job sector, employer name, and salary range. This helps Tiqmo comply with financial regulations in Saudi Arabia.
Step 5: Account Setup
Once all the details are filled in, your Tiqmo account will be active, and you’ll be able to start transferring money.
Adding Money to Your Tiqmo Wallet
Before making any transfers, you’ll need to add funds to your Tiqmo account. The process is straightforward:
Step 1: Access the Add Money Section
From the main dashboard, tap on the “Add Money” option. You’ll be presented with several ways to top up your account, such as using a debit or credit card.
Step 2: Enter Card Details
Choose your preferred payment method and enter your card details. You’ll also need to specify the amount you want to add.
Step 3: Complete the Transaction
After entering the necessary details, confirm the transaction. The funds will be available in your Tiqmo wallet shortly, allowing you to proceed with international transfers.
How to Make Tiqmo International Transfers
Once you’ve added funds to your Tiqmo account, you’re ready to send money abroad. Here’s a step-by-step guide:
Step 1: Add a Beneficiary
Before you can transfer money, you’ll need to add the recipient as a beneficiary. To do this, navigate to the “Add Beneficiary” section in the app. Enter the beneficiary’s details, including their name, country, and the transfer method they prefer, such as a bank account.
Step 2: Activate the Beneficiary
Once you’ve added the recipient’s information, Tiqmo will verify the details. You may need to wait for a short period while the system processes the new beneficiary.
Step 3: Transfer Money
After the beneficiary has been activated, you can proceed with the transfer. Select the recipient, enter the amount you wish to send, and review the current exchange rates. If everything looks good, finalize the transfer.
Step 4: Track Your Transfer
Tiqmo allows users to track their transactions through the “Transfer Tracker” option in the app. This ensures you stay updated on the status of your money transfer. The app will notify you when the transfer is successful.
Tiqmo’s Fees and Exchange Rates
One of Tiqmo’s biggest selling points is its transparent fee structure and competitive exchange rates. Users are made aware of the fees before confirming a transfer, ensuring there are no hidden costs. While the exact fees depend on the destination country and transfer amount, Tiqmo generally offers rates that are better than traditional banking methods.
Security Features in Tiqmo
Tiqmo takes security seriously. Its integration with the Nafath digital identity system ensures that all users are properly authenticated, making unauthorized access virtually impossible. Furthermore, all transfers are encrypted, protecting your financial data from cyber threats.
The platform’s compliance with Saudi financial regulations also ensures that all transactions are monitored for any suspicious activity, providing peace of mind for users.
Benefits of Using Tiqmo for International Transfers
- Convenience: You can send money internationally from your phone without visiting a physical location.
- Speed: Tiqmo transfers are often faster than traditional bank transfers.
- Cost-Effectiveness: Competitive exchange rates and clear fee structures make Tiqmo an attractive option for regular money transfers.
- Security: With the Nafath system in place, Tiqmo offers a secure platform that adheres to local regulations.
- User-Friendly Interface: Even first-time users will find Tiqmo’s interface intuitive and easy to navigate.
Common Issues and Solutions with Tiqmo
While Tiqmo generally offers a smooth experience, users may occasionally face issues such as delays in beneficiary verification or trouble adding funds. Most issues can be resolved by ensuring that the information entered is accurate or by contacting Tiqmo’s customer service for assistance.
Conclusion
Tiqmo is an excellent option for individuals in Saudi Arabia looking to send money internationally. Its ease of use, transparent fee structure, and commitment to security make it a top choice for anyone seeking a reliable digital wallet. By following the steps outlined above, you can quickly set up your Tiqmo account and transfer money abroad confidently.
Whether you’re supporting family members or managing overseas transactions, Tiqmo offers a solution that is fast, safe, and cost-effective. Download the app today and experience the convenience of hassle-free international transfers.
