How to send a money transfer?

How to send a money transfer?

Money transfer is a way of transferring money from one point to another. When forwarding, the Internet, postal or banking system can be used. In any case, the money transfer system includes three links: a sender, a recipient, and an intermediary who charges a certain fee for his services. There are two types of money transfers in the modern market:

You can send money in several ways:

  • through the Internet. Electronic payment systems will come to the rescue, with the help of which you will transfer money quickly and easily. If the user has a virtual wallet. The most affordable transfers are transfers within one payment system, otherwise, you should count on a fairly large percentage;
  • via mail. In this case, the money is transferred using the CyberMoney system and reaches the recipient within three days. At the same time, you can add a small test message, notify the recipient about the transfer, or order home delivery of money. In addition, you can take advantage of the possibilities of other modern transfer systems, including Forsage, Western Union, Contact;
  • in bank branches using transfer systems. If you are going to send a money transfer, make sure that the transfer system you have chosen for the transfer is working in the place where you send money.

Where to receive the money transfer?

The answer to the question of where to receive the money transfer depends on which method the sender used when sending money.

  1. If we are talking about transfers through electronic systems, you will receive money in your virtual wallet, and you can cash it out in any way you are used to.
  2. When transferring using the Cyber. Money system, you will have to go to the Indian Post office for money if the sender did not order the courier to be delivered to your home.
  3. Finally, with regard to traditional transfer systems, you can receive your money at any bank that supports the transfer system chosen by the sender. You can find the list of required banks on the official website of the transfer system.

Money transfers: tariffs

The money transfer system, in addition to the sender and recipient, also includes another link – an intermediary that provides the process of transferring money, and who takes a certain percentage for his services. As a rule, this percentage is not too large, but some nuances must be taken into account.

For example, when transferring money through electronic systems, remember that the minimum percentage is valid only within one system, but if, for example, you decide to transfer money from a wallet in the Yandex. From a money system to a WebMoney wallet, the amount of interest per transaction may surprise you unpleasantly. In addition, do not forget about the interest for cashing out money.

In the case of mail and payment systems, you can check the information about tariffs on official websites or from operators – tariffs can depend on many factors, from the speed of transfer to the destination.

Money transfer tracking

Since transfers through Internet payment systems and through transfer systems take several seconds/minutes, bancfirst routing number there is no need to track them. But situations may arise when money is delayed.

The reason may lie in the slowness of the operator sending the transfer, in the large volume of transfers, in the excessive load on the system, and so on. To understand what the reason is, you can track the status of the money transfer:

  • in processing;
  • ready for payment;
  • paid.

You can find out the necessary information about the status of the transfer from the operator who sent the money, or on the official website of the payment system through which you send the transfer.

Money transfer systems

There are many transfer systems on the Indian market. Among the most famous are:

  • Western Union;
  • contact;
  • “Fast and Furious”;
  • “CyberMoney”.

Some banks will be able to offer you other systems. But before choosing any of them, make sure that the place where the money should go has the type of system you have chosen. Otherwise, the recipient simply will not be able to collect their money.

How much is a money transfer

Today, when time is one of the most valuable human assets. Any transactions with money are carried out as soon as possible. So, if earlier the transfer could well take several days. Today the average delivery time of money takes in most cases only a few minutes.

However, much depends on the chosen money transfer system. As well as on the final destination of the money. But, as a rule, the time of money transfer does not take more than one or two business days. If necessary, you can order an urgent transfer and be sure that. It will be delivered almost instantly.


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