What are the different types of money transfer services?

There are four different types of money transfer services: Transfer of wire, bank design, transfer of money on the Internet and money orders. All these methods can be used at domestic and international levels. The money transfer service is used to quickly provide funds for and individuals. They are usually used in situations where the check lasts too long, may not be accepted or where the recipient does not have a bank account. A person who sends money can create a wire transfer from his own bank or from a money office. If you want to complete the wire transfer, you must have details about the recipient's bank or their code to transfer the wire and the position code for the cash office to pick up the funds.

A bank proposal is the type of money transfer service most often set for payments to companies in foreign countries. A bank proposal is issued by a bank or a money transfer company and is paid to any banking institution. This payment method is more expensive than other methods but is preferred by societyMi and large institutions due to other security and audit functions.

Money transfer services on the Internet have increased in popularity because the security has improved. Several large companies specialize in this type of service. Funds can be converted to anyone with an e -mail account in the world and is available, foreign currencies are recognized. Transfers can be created via a third party or directly from the sender's bank account.

third -party companies usually provide a free basic account, but charge a transaction fee for each transfer of funds to your bank account. In addition, processing is delayed between five to sitting days to accept funds on your bank account. If you are going to use this type of service, first check the reputation steps and conflict solutions.

Several specialized companies offer cash orders as one of theirCH services to transfer money. The sender goes to the monetary office and creates a cash order for a specific cash authority and the person he will pick up. The recipient is notified by the sender and is responsible for the transition to the cash register and picking up the funds. The secret password is often used to verify that the correct person receives a cash order.