![]() The sender opens an online banking session and specifies the recipient, amount to send, as well as, a security question and answer.The process is straightforward and often works like this: Usually, for a small fee, online money transfers can be done from secure, web-based services. You can instantly send someone funds by transferring money (or the data that represents that money) from you to another person.Ī typical transaction mainly involves contact information - such as a phone number or an email address - for the sending and receiving parties, tied to a bank account. Online money transfers are the modern equivalent of wiring money. In several European countries, the term "giro transfer" is widely used.In the UK, the terms “bank transfer” and “bank payment” are used.In the US, they can be referred to as "electronic checks" or "e-checks."." A funds transfer initiated through an electronic terminal, telephone, computer (including online banking) or magnetic tape for the purpose of ordering, instructing, or authorizing a financial institution to debit or credit a consumer's account."Įlectronic fund transfers (sometimes known as 'e-transfers') are called by different names around the world. E-transfers DefinitionĪccording to the United States Electronic Fund Transfer Act of 1978 , e-transfers are defined as, This article explores how e-transfers work, how to protect bank accounts from identity theft, how banks investigate fraudulent transactions, and what you can do to ensure safe e-transactions. Raising the question, are e-transfers safe? After all, there have been reported cases where people have lost thousands of dollars due to e-transfer fraud. Ordinarily, they are widely used without problem, but as with anything involving money - they can be a target for cybercriminals. View source version on businesswire.Electronic funds transfer (EFT) is a fast and convenient way to send and receive money. In addition, Mexican authorities named PagaPhone as the company that pays the most pesos for every dollar a customer sends. ![]() PagaPhone is a Mexican e-Wallet with which you can cash your remittances directly from your cell phone, as well as perform many more transactions such as: withdraw your money at any ATM, pay with your Platinum PagaPhone card, buy airtime from any carrier and pay your utility bills (water, electricity, cable, phone, etc.) on the app. For more information, visit About PagaPhone: Western Union connects the world to bring boundless possibilities within reach. We connect consumers, businesses, financial institutions, and governments through one of the world’s widest reaching networks, accessing billions of bank accounts, millions of digital wallets and cards, and a substantial global network of retail locations. Western Union’s platform provides seamless cross-border flows and its leading global financial network bridges more than 200 countries and territories and over 130 currencies. ![]() The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement and payments. Recurring Remittance Transfers Helps Strengthen Consumer Income HistoryĪnother added benefit – consumers who receive remittances on a regular basis can use the experience to create an income history, supporting eligibility for credit or an insurance system. By teaming with PagaPhone, Western Union is helping bridge the digital and physical worlds to offer consumers more channels and added convenience to send money from the U.S. "With this surge in remittances, customers demand choice and added convenience for how and when money is sent and received. "Remittances are a lifeline for so many in Mexico, where more than USD $51B was sent into the country just last year, said Pablo Porro, Head of Western Union Mexico and Central America. "We look forward to offering Western Union’s industry leading money transfer capabilities to our customers, giving them a convenient and efficient way to receive money via their PagaPhone account." "By teaming with Western Union, PagaPhone SmartPay users in Mexico have yet another way to receive money from friends and family cross-border, using a brand known and trusted for decades," said Ulises Tellez, CEO and Founder, PagaPhone SmartPay and Cloud Transfer Services. Once customers receive money in their PagaPhone SmartPay mobile electronic wallets, they can easily make transfers to bank accounts through SPEI, withdraw cash from any ATM with their PagaPhone debit cards or use the funds to pay for services directly through the application, 24 hours a day, seven days a week.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |