Four things you must check before sending money online.

We all live in a digital world. Right from our mode of working to the way we access things, information technology has advanced to great lengths. The remittance industry too has gone through a transformation with the advent of online money transfer. In this busy, fast paced world, the millennial expat prefers sending money online because of the convenience it offers. One needn’t go to a physical branch, stand in queues and fill numerous forms to send money to loved ones. Online money transfer offers the luxury of sending money from the comfort of your home, office, restaurant, airports, and hotels etc. While there are so many upsides to choose this mode of money transfer service, one must also be well aware of the risks the internet world poses viz., hackers, online scams and thefts, security-compromised websites etc.

If you are a newbie to sending money online, don’t be discouraged with the threats that come with this mode of money transfer. All you need to do is choose a good online money transfer portal and then sending money can be a pleasurable experience!

Below are four things you must look for while choosing a good online money transfer service provider.

1. Brand Reputation

This is the first thing to look for when choosing a reliable money transfer service. Has the company been around for long? Do they have an office or branch in the locality where you are from? Check their corporate website for certifications, recognitions, awards etc. It is always advisable to choose a trusted money transfer service provider who is in this business for quite some time, and advocates ethical and stringent money transfer practices in the online sphere.

2. Security Features

The second thing is to do a basic audit of the website’s security features. How secure is the online portal/website? Does it have the latest 128?bit Secured Socket Layer (SSL) encryption technology? An SSL certificate prevents any unauthorised person from accessing your account details. Check if the portal is VeriSign-certified and PKI (Public Key Infrastructure)-enabled, to ensure total security. This is equally important since you will be furnishing sensitive and confidential details including your debit card, bank account details.

3. Transfer and Payment Options

Choose a service provider that offers both bank transfer and cash payout. Ensure they have a wide network of branches spanning across the globe. Some money transfer services offer multiple options to pay for the transfer viz. bank transfer, credit and debit card payments.

4. Customer Service

Need assistance on how to register or add recipient details? Sent money to the wrong account by mistake? Yes, we all have been down that road. Hence it’s always good to check if there is a round-the-clock customer service support offered.

We hope with these four essential tips, you are able to send money abroad safe and hassle-free. Have any tips while sending money online? Share with us by commenting below.