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6 Quick Tips About Money Transfer

Thursday, 05 April 2018
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Money transfer in recent times has evolved so much that sending money from one location to the other has become so comfortable and convenient. Now even a layman at a remote location has the reach to the money that is transferred to him. At the same time, we need to be very cautious and aware of the risks when you transfer money. Thus, to help customers ensure safe and secure payments we have pulled out six important tips that you need to keep in mind while you transfer money online or offline.

1. PASSWORD PROTECTION
 
The password breach has now become common in hacking bank accounts in recent times. To ensure that your password is protected and secure we suggest the following.
 
For security reasons, it is safe that you never share your online money transfer password with anyone and never maintain same passwords for multiple accounts. It is also better to change your passwords frequently to ensure that your accounts are personalized and safe.
 
2. CHOOSE THE BEST MODE THAT SUITS YOUR REQUIREMENT
 
There are multiple modes to transfer money based on your requirements like sending money instantly for emergencies and Sending money to distant and remote location etc. We have listed some of the most used ones here.
 

Bank Transfer:

  1. Bank transfers are intended to send money from your bank account to directly the beneficiary’s account.
  2. You can directly transfer money to the beneficiary account with your internet banking account.
  3. Bank transfer facilities like Flash Remit that offers instant bank account remittance directly to the beneficiary’s account.
  4. Bank transfers also enables features like account credit and demand draft facility that enables customers to pay bill and other applications.
Instant money transfer
Instantaneous money transfer is intended to transfer money to the beneficiary account instantly without any time delay. This facility is designed to help during emergency situations. 
 
Online Money Transfer:
Online Money Transfer enables you to send money from anywhere at any time in just a click away. This feature lets you send money to beneficiary’s account using bank account and debit/credit card, certain transfer agencies have cash pay-out services too using OMT.
 
3. TAKE A CLOSE LOOK AT FLUCTUATING EXCHANGE RATES 
 
Currency exchange rates keep fluctuating every day and every minute so choosing the best time to send money matters to make the most of it. Usually, weekdays are the best time to send money since the live exchange rates are active only on the weekdays. Set exchange rate alerts to follow trends and identify the best time to make transfers.
money transfer tips
 
4. KEEP IN MIND THE FEE FOR TRANSFER  
 
Since VAT has been introduced in UAE, it will be levied at the rate of 5% on transfer fee and other commission charges for all products and services offered across UAE region.  Plan your remittance accordingly and transfer to your loved ones with ease. 
 
5. QUICK CHECK ON OFFERS TO GET THE BEST OUT OF YOUR TRANSFER 
 
Check out for offers and promotions from reputed money transfer brands and get a chance to win exclusive prizes and discounts during festival season. Money transfer brands offer run promotions with exciting prizes. Following your favourite money transfer brands on official social media channels may keep you posted on their updates.
 
6. THOROUGH CHECK ON TRANSFER POLICIES OF THE AGENT 
 
When you make transfers make sure you read the terms and conditions involved in the transaction, know the refund policies and other liabilities of the transfer to avoid losses due to negligence.
 
Hope these tips would be useful for making your money transfer safe and secure. Also drop your thoughts in the comments.
Last modified on Thursday, 05 April 2018 07:49

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