With the increase in online shopping and the continued expansion of sites such as eBay, it is important to know how to transfer money and the associated fees and other details common to each method. You can save money by choosing the best way to transfer money if you have a choice. Sometimes you only have one method to send money so there is not much you can do in those situations.
Many people are still afraid to buy things online because they don’t understand how to send money online, or even just using banks in some cases. There is nothing to worry about with transferring money from one bank account to another and these types of transactions are done by businesses and individuals every minute of the day. There are precautions to go through and they include:
- ensure you are using a secure website if you are processing the money transfer online
- know the person or merchant you are sending money to so you can be sure to receive the goods or services if you are buying something
- double check all the information before you click the confirm button. It is easy to transpose a couple of numbers when type and very difficult to correct it once the transaction has been confirmed. Particularly if you accidentally ended up with a valid bank account even though it is not the one you intended. If it turns out the account number is not valid then it will still take days for the transaction to be rejected and the funds returned to your bank account
If you are in any doubt you can always process a bank transfer at your local bank branch, or any branch of your bank if you are away from home. The bank people will lead you through the process.
So basically, it pays to know how to send money and it is not that difficult once you have done it once or twice.