It doesn’t matter whether you are transferring money as a company, or as an individual, you should approach this whole process very carefully, otherwise, things may go wrong. What do we mean by that?
Namely, it’s of huge importance to select a provider that’s regulated and licensed by the authorities in the market they operate. This is the only way you’ll be sure everything goes smoothly.
If you’ve never transferred money online before, yet you’re planning on doing that, then make sure to check out this guide first because it will show you the safest ways you can transfer your cash.
Safest Ways To Transfer Your Cash Online
Rely On Comparison Websites
This particularly refers to people who are new to this. In these types of situations, it’s recommendable to conduct a money transfer comparison so you can determine what is the best option for you. Namely, on these types of sites, you can gather all the necessary information about some of the most reliable money transfer apps.
Since there are so many alternatives at your disposal when it comes to money transfer services, it’s always recommendable to consult a person, or in this case a website, that is more familiar with these things so you can make the best possible decision. Out there, you will get the chance to compare various types of financial services.
Things To Watch Out For When Sending Money
As stated in the beginning, when making a money transfer, you should never trust your money with just any provider you stumble upon. If you are cautious about your personal safety, bank account, the safety of the device you are using, and funds, you will be able to transfer your cash without experiencing any issues.
Bear in mind, that there are a couple of risks involved in this entire process and below we’ll tell you what to watch out for:
- Identity theft and fraud: Unfortunately, this is something that happens quite frequently and you should never forget that different fraudsters and criminals can easily access relevant information like security questions and passwords to get past the login page. Therefore, you should never give your information to anybody, unless they can prove their trustworthiness to you, and always be sure the platform has security measures such as a two-step verification process and time-outs for extra security.
- Money transfer scams – These types of scams come in different shapes and sizes. The Federal Trade Commission has stated numerous times that you should watch out for fraudsters who pose as people you “know” asking for some urgent help. And then there are those who present themselves as individuals or company representatives you’ve sent cash in the past. We cannot emphasize enough how crucial it is to not send money or give your bank account details to anybody you don’t know.
Enumerating The Most Reliable Ways To Send Money Online
Let’s Start With PayPal
Most of you have probably heard of PayPal because it is one of the most popular methods for purchasing and selling stuff online and transferring cash to family members and friends in a relatively inexpensive way.
What’s great about this method is the fact that you do not have to share any financial information with others. Additionally, because this service is omnipresent, a plethora of consumers and merchants use it regularly.
Now, before you send any money internationally, it’s important to first get yourself familiar with the exchange fees and rates charged by the service you’ve chosen, due to the fact that not every service charges the same amount of cash.
One of the biggest advantages of WorldRemit in comparison to other services is the fact that it has very low money transfer fees and provides a better exchange rate than its competitors. For the time being, people can send cash to others in more than 145 countries.
For Quick Cash-Outs, Pick Google Wallet
A great thing about Google Wallet is the fact that it’s free of charge, regardless of the type of transfer you’ll be having, plus, it’s way faster than the others. Furthermore, it is best if you want to send cash to somebody who already has a debit card as their default payment method on this platform.
Moreover, when you send cash employing your own debit card, the payment will typically show up in their debit card-linked bank account in just a few minutes. On the other hand, if you receive or send money utilizing a bank account, it will take up to three or four days for the transfer to be completed.
Luckily, nowadays, you can easily and effectively send money to anyone, which wasn’t the case a few years ago. But still, it doesn’t mean that you should be less careful. On the contrary. So in order to have peace of mind when transferring cash online just be sure to implement these tips above.