The Popularity of Money Transfer

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The Popularity of Money Transfer

The e-commerce payment system has given a new direction to the monetary transactions. Today you just need to have a Smart Phone with internet on it and a bank account to send or receive money. The money transfer has so many modes of making transactions and one very popular of them is via the internet. The usage of cash is shrinking day by day with other modes of transactions. Today bank has also upgraded itself with bringing the use of debit and credit cards and the more popular is Net banking. Besides them, the UPI and IMPS are the mode of transaction that is allowed in mobile phones and people finish an online transfer within seconds with the help of them. All of these modes are in, and with the increasing crowd of such virtual modes of money transfer, the risk is also getting higher.

Although the online money transfer is very much safe, it requires little care and caution while completing it. Beware of the things below to make sure that your transaction is safe and secure:

  • Firstly, check the device that you are using for the transaction. If it is your Smart Phone, make sure it is free from virus and to ensure this, install the latest security software on your device.
  • The operator of mobile phones keeps updating the mobile phones not to elicit money in the form of internet data. It is that it makes your device and all the applications free from the virus every now and then. So make sure your phone is on the auto-updated mode of all software.
  • It is a very good step that you have taken by securing your phone with a password. However, remember to keep changing your password after a decided time. Also, for different sites and different platform, use different passwords as it is very easy to reach other accounts if you have not put your head much into choosing a tough password.
  • While doing an online money transfer, make sure that the recipient’s address or phone number that you have entered is correct as it is very difficult and even near to impossible to get the money back if the transaction is successful. So, avoid committing such blunders.
  • Make sure that the digital payment system you are using for money transfer is safe and secure and your peers have already used it. If nothing much is visible, go to the customer review section and read the comment there. You will get the real idea about the credibility of the site.
  • Do not use public computers like that of any cyber café for making transactions. The reason is they are not at all safe because of the easy access to the public. Anyone can access your details by visiting the history of the browser.
  • Think twice before making transactions. Do not cancel the transaction in between the process otherwise you might lose your money. Chances of not using are equal but you need to be extra vigilant for that.

When we have discussed these many restrictions, this does not mean that the online money transfer is risky. These risks can be cured by just taking precaution before making a transaction. If you take care of these points you can enjoy hurdle free money transfer process.      

Clare Louise

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