Beans Essentials: What is Beans App?

Beans is an app designed to make international money transfers quick, affordable, and flexible. Unlike traditional services, Beans lets you send money around the world without extra fees and gives you and the receiver the ability to control when to exchange currencies. It’s connected through the Stellar blockchain, making it reliable and efficient.

Here’s how you can use Beans:

1. Deposit: Start by putting money into your Beans account from your local bank. If you're in Europe, for example, you would deposit Euros. That amount will show up in your Beans account.

2. Send: Now that your Beans account has money, you can send it to anyone else using the app, no matter where they are. You only need their username, and the transfer is immediate and free of charge.

3. Conversion: The person receiving the money can decide to keep it in the currency you sent (like Euros) or exchange it to their local currency right within the app. Beans offers excellent exchange rates, giving you more value for your money.

4. Withdrawal: The receiver can either transfer the money to their local bank account or pick it up in cash at a MoneyGram branch. For this last option, they'll need to convert the money to USD, follow a few simple steps, and head to a branch.

Why Choose Beans?

Better Rates: Beans offers attractive exchange rates and low fees. You can use the calculator on our website here to see exactly what it will cost, including any fees from partner banks.

Faster Transfers: Send money instantly to anyone, anywhere in the world.

More Control: Unlike traditional services like WorldRemit, WU, or Wise, Beans allows the receiver to keep the money in the currency you sent. For example, if you send Euros to your aunt in Argentina, she can keep the money in Euros in her Beans account, then convert to pesos whenever she's ready. This can be beneficial if she wants to hold a more stable currency until she needs her local one.

Convenience: Beans is easy to use and doesn’t add extra steps like some bank-to-bank transfers might. Everything happens within the app, making international money movement simpler than ever.

Summary

Beans is your go-to solution for sending money to loved ones around the world. With quick transfers, excellent rates, and unique currency control options, it puts you and your recipients in charge of your money. Try Beans today, and see how we're redefining international money transfers!