Online money transfer is a form of electronic funds transfer (EFT) that involves speedily sending money (or data that stands in for the funds) to another party over some distance. It complements the old fashioned concept of wiring money. It usually involves some details about both the sender and the receiver such as mobile phone number and e-mail address as well as bank account information. Online money transfer can be facilitated via a secure, online medium or through a computer connected to the internet. Thus, the sender does not need to physically visit a money wiring office, telegraph station, or even a bank. Online money transfer has a number of advantages, it is fast, easy, convenient, efficient, and safe. In comparison, unlike online money transfer where it takes data a matter of seconds to travel on the internet, mailed cheques can take a long time before they’re delivered and they can also get lost and stolen on transit. Moreover, in the case of international transfers, currency conversion fees tend to be higher than online money transfer fees. In terms of safety, internet security continues to improve daily, especially with advancements in technology. For online money transfer security, several safety measures have been evolved to ensure peace of mind for both senders and receivers, e.g., multiple layers of data encryption that help guard against any harm from data theft and malicious hackers. Online money transfer services are processed by the Automated Clearing House (ACH), an independent organization that is equipped to provide security in financial data transmission. These security measures are usually in the form of confirmation phone calls to both parties, confirmation e-mails, and even insurance policies that guarantee your money will be transferred safely and your bank accounts will not be compromised. WorldRemit is one such international money transfer firm you might want to consider giving a try.
WorldRemit is an online money transfer business that provides international money transfer services in about 50 countries. The company claims to send clients’ “money to those that need it in a convenient, quick, and secure manner”. It was founded in 2010 by Ismail Ahmed, Catherine Wines, and Richard Igoe and is headquartered in London, UK.
Services of WorldRemit
WorldRemit offers cash pickup, Bank transfer, mobile money, airtime top-up, and home delivery services. WorldRemit is available to senders in 50 countries who can transfer money to more than 140 countries worldwide. The available services (e.g. bank deposit or cash pickup) vary according to the country clients opened their WorldRemit account (your send from a country) and the country you are sending to (your destination country). Paying for a transfer can be made via Card (debit, credit and prepaid), Bank Transfer, Poli, Interac, iDEAL, Sofort, Apple Pay, and Trustly. Payment options for clients transfer depend on the country they are sending money from.