Send money to different destinations has become very popular thanks to electronic methods meant for transferring money between individuals, firms and even countries.
In sending money, the bank provides several ways of fund transfers to their bank account holders. Money can be send easily and quickly by the bank if it involves transfer of funds from one account to any other account provided it is held in the same bank.
If the financial institution to send money to is different from the one where the money is deposited, transfers such as wire transfers can be made. When money is being sent overseas, there exist overseas money transfers but more detailed information is required in regard to the name, address, SWIFT of the bank receiving the money and the information related to the financial institution.
Sending money online
Online bank transfers
Log in to your online account and select the option for making a payment. Follow the instructions on screen to enter the correct details. Some banks also offer smartphone apps that allow you to transfer money. This E-transfer provides a cheaper method of transferring money as compared to bank teller services. In sending money through online transfers, an individual can set up the payment frequencies.
In sending money, PayPal makes it very easy to send money to someone using either the recipient’s email address or mobile phone number. It offers the ability to transfer funds to almost anyone in the world with competitive service fees.
MoneyGram is now the world’s second-largest money transfer company with over 347,000 agent locations in more than 200 countries. The charges are at a flat rate and are determined by the transfer speed required and the amount being sent.