Online Money Transfer: Safety Advice

By: Devid Anderson

Globalization has lead to the demand for money transfer across countries like never before. Internet has made it all easy for us but you still need to be careful about who you trust your money with. As online money transfer services need to know your details like account numbers and personal information, safety comes into question.

Choosing the right company

Money transfer business is a big industry and a very profitable one too. Different people consider different criteria to choose the money transfer company. While some consider the reputation others look for the cheapest agency. It may not be a wise choice to go for the one that charges the least. This article is about how to transfer money safely and make sure you don't get tricked.

Judging the company

The size of the company does matter when it comes to online money transfer. A medium sized or a big company should be chosen over a small company. One should be aware of phishing scams where one gets emails asking for account details. Although the email claims to be a genuine company, trusting them blindly can prove costly. A company that is open about its charges and answers all your questions adequately is probably a good company.

Extra Charges

Always ask about the extra charges involved if any. Sometimes you may be charged for using credit cards so it is important to know how much will be deducted for the money transfer services. A good company will be able to answer your questions precisely about the current exchange rates, time taken for the transfer, etc. When they answer these questions without a problem, it shows that they are organized and know what they are doing. You may also want to ask them if they will give compensation on delayed transfers.

Passwords

Always make sure you don't tell anybody your password. In general, you wont need to give away your password to transfer money. Changing your password regularly is also a good practice and keep the password complicated by including numbers. Knowing the refund policy will also be helpful in case the recipient is unable to collect it. by being careful who you trust your money with, you will be able to make the right decisions. A good reputation is a very important thing and you should always choose a good company over a cheaper one to transfer money.