With the ever increasing mobility of people, sending money online with the same convenience of checking your e-mails or surfing the net is now possible to send money online with the same convenience of your mobile phone. When you use a mobile phone, you are now able to send money to any receiver from anywhere in the world. Unlike e-mail transfers, this option provides receivers with much more options than sending a check. Here are some of the different ways to send money through your mobile phone:
Debit Cards: One of the most popular ways to make online money transfers is through your debit card. If you are familiar with this option, you probably know how convenient it can be. Simply go to your bank, select your debit card, add funds, and use the card like any other card. You don’t have to carry around large amounts of cash or a checkbook. All you need is your debit card details, which are secure since they are held on file at your bank. If you receive an online money transfer from someone with a debit card, you can verify their account by contacting your bank immediately.
Phones: Another common and easy option to send money online is by using your cellular phone. While sending money to someone who does not have a debit/credit card or is unable to present one is not possible, you can still send money to people with verified addresses. A lot of people use their mobile phone to send money to family, friends, or employees. However, there are a few things you should be aware of so that you avoid scams when sending money through your cellular. These scams include:
Coding Schemes: Some companies will automatically accept your debit card and then deposit it into your account, but you can avoid these scams by setting up your account so that it only shows “Accepted Debit Cards” if it is being used for an online money transfer. There are also those who claim that they will automatically deposit the funds into your account when you set up your debit card. This is not safe, as these companies could be running scams. So make sure to check your settings on your account so that you can block any company who is trying to charge you for this feature.
Online Money Transfer Systems: Some online money transfer systems may require you to download their mobile transfer application, but they may offer other options for your mobile banking. These typically have your bank account number on a secure website, so you are safe from scams. These transfer systems generally do not provide a lot of options when it comes to transferring money, but they do offer a fast, convenient, and safe online money transfer for your convenience.
If you are planning on using an online money transfer system, it is best to look for a service that provides multiple options such as using your debit card or your credit card. If you only have one or the other, you will never be able to use your bank account and you will not protect yourself from scam artists. Most importantly, always make sure you have the option to receive funds directly from your bank account or from your credit card, so you never need to worry about your account being hacked. Protecting yourself by using a bank account or a credit card is the easiest way to ensure that you are safe online.