What is money transfer?

Money transfer means transferring funds from one bank account to another locally or overseas. There are different ways through which one may choose to transfer money to other bank accounts.

How safe is money transfer?

Money transfers are considered safe as banks apply multiple security steps to combat fraudulent payments and scams. However, one must also exercise caution while making payments on online sites. It is always a safer option to make payments on valid and authentic websites. Also, one should never disclose the credit card PIN or any such confidential bank details on any website to avoid getting scammed.

What is a safer way to transfer money?

Online money transfer or electronic funds transfer is a safe and fast option to send money. The mobile banking apps and online banking platforms use layers of encryption to ensure that the funds transfer process is secured and safe. So, you can use valid online banking services to transfer money anytime and anywhere.

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