How to choose the safest way to transfer money

Transferring money online is a convenient way to send and receive money. However, there is still a risk of scams, having your personal information found, and more. Luckily, you can follow the tips below to safely transfer money.


Choose Reliable Transfer Methods

Firstly, you need to make sure that the payment methods that you choose are reliable. You should never use shady or unreliable payment services to transfer money; you never know what will happen to your cash or your information. The business itself might mean well, but they may not have proper security systems to keep your cash and info safe. Therefore, it is best to stick to more reputable transfer methods, like, instead.

Use a Secure Internet Connection

You need internet to send money, but you need to make sure that your internet connection is secure as well. As much as possible, never make transfers using public Wi-Fi. Public WiFi puts your personal information at risk; hackers can easily hack into your device and see all your personal information if you are both connected to public Wi-Fi. Therefore, you should only make transfers whenever you are using a secure internet connection, like your home Wi-Fi.

Use a Device that Only You Own

Other than making sure your internet and payment methods are secure, you need to make sure that the device you are using is secure as well. People who share cellphones or use public computers are at high risk of hackers stealing their personal information. Sometimes, a hacker may not even need to do anything; a random person may find your account if you forgot to log out. You can avoid this problem by making sure you use your personal cellphone or laptop as much as possible.

Send Money to People that You Know

As much as possible, you ought to send money to people that you know or reputable establishments. For instance, you can send money to a large merchant if there are many positive reviews about their transactions. However, you ought to be very wary about sending money to an unknown or very new seller, especially if they lack identification or credentials. 

Should I Use a Digital Money Transfer Service or a Traditional Money Transfer Service?

Typically, what you should choose will depend on your needs. For instance, digital money transfers are convenient and are a great way to send small sums to your friends and family and shop online. Plus, some digital money transfer services may it convenient to pay for bills.

However, traditional money transfer services may be ideal for large companies, especially if you want to send big sums of money. Bank wire transfers require IDs for both the recipient and sender, so that way you know where the money came from and who the money is going to. Plus, real wire transfers have HIGHLY secure encrypted messages for their transfers, so it is nearly impossible to lose your transfer.

You do not need to worry about how to safely send cash. You can follow any of the tips above to make secure and safe transfers!