5 Reasons Why Sending Money Online the Most Efficient Way to Transfer Funds

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    Sep 28, 2013
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5 Reasons Why Sending Money Online the Most Efficient Way to Transfer Funds Photo by Emily Taylor

Let’s say that your son or daughter is backpacking abroad for a year. They have saved up for this trip for the last year, and insist that they have enough to keep them safe, fed and sheltered. But 7 months into their trip, they have run out of money for one reason or another (excessive pub-crawling with other young backpackers, theft, unforeseen expenses, and more). What to do, what to do?

Now your child really needs your help, and they need it fast. You might consider a bank wire, or sending a check in the mail (not recommended). But have you considered sending money online? Compared to a wire, you may be wondering if sending money online is as efficient, and rightly so as you child might need cash in the next day or two to pay for a roof over their head, food to eat or a pair of shoes (as their current pair is literally full of holes).

Sending money online is definitely the way to go, but if you are still not convinced, consider these points:

  1. It's instant. Sending money online only takes a second. You can add a credit card to your account, or add funds by bank account. Then you can send it to your child's ewallet account, and the money will be in their possession in a moment. They can withdraw the amount to their credit card or to their bank account, and pay for their needs, whatever they may be.

  2. It's free. Doesn't cost you a penny to open an account and send money to someone else. This is a big perk as sending a bank wire can cost a lot. However, there may be a fee of the receiving end of this transaction, so make sure to include a little extra. If you want to know more about the fees, check the website of the ewallet platform you are using.

  3. It's secure. Many remittance platforms use SSL encryption and employ a security team that monitors transactions and online behaviour around-the-clock. You can rest assured that your personal and payment information, and that of your child's are completely safe at all times.

  4. It's easy to do. Sending money online with a payment platform is simple, and requires little thinking. That is, if the platform is well-designed. You can figure out quite quickly if it is by how long it takes you to sign up. If you have to spend a lot of time trying to figure out how to sign up, you might want to keep looking until you find one that is easier to use.

  5. It's convenient. Sending money online with a payment platform can be done anywhere, anytime. You don't have to go to the bank or any other place where bank wires are offered. You can send money to your child at home, in your office, in your car, in line at the grocery store, on your smartphone, tablet, laptop or desktop computer.

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Sending money online is very secure, but you still have to make sure that you have a strong password for your ewallet account, and that you employ good security practices. To learn more about how to do this, check out this practical article: https://blog.payza.com/online-security/personal/5-ways-to-protect-yourself-from-hackers/

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