3 Ways to Ensure Money Transfer Safety

by Priya Sharma Gold loan

Making transactions is highly convenient in the 21st century. At present, it’s easier to make an online transaction than pay someone in cash. It’s quick and easy. Those living in urban cities have internet banking facilities available to them 24x7. However, everyone in India does not have these facilities available. They have to go to a centre to send and receive money. Although the centre does instant money transfers, it can be risky if a person is not cautious. To help you ensure safe money transfer every time, here are 3 things you can do:

Contact a Reliable Centre

Online money transfers can be risky if you don’t trust the centre, you are doing it from. Who is to say that money you have given to the executive at the centre has actually been transferred? The first thing you need to make sure of is the reliability of the centre. If you have never transferred money before and don’t know a reliable centre near you, ask people around you. They will tell you about the reliable centre you can contact for online money transfer.

Double Check the Recipient’s Details

It is common for people to make mistakes when they are writing the details of the recipient. When this happens, the money is transferred to the wrong account (if it exists). But don’t worry, your money is still safe. Banks are familiar with this mistake, and they will follow the due process to have your money returned. However, this process can take days. If you want your money to be transferred urgently, and you wrote the wrong details, the entire process of refund can be full of hassles. And you can say goodbye to the urgency of the transfer. Therefore, it is suggested to always double-check the recipient’s details before confirming the transaction to the executive at the centre.

Call up the Recipient and Confirm the Transaction

Another thing you can do, to ensure that the money is transferred safely, is call up the recipient. If it’s not instant, it can take some hours for the transaction to complete. To be on the safe side, it is recommended to call up the recipient as soon as the transaction is complete from your end to confirm if it has been completed at their end, too. If the transaction is not instant, you can ask the recipient to contact you once they have received the money. This way, if there is any delay in the process, you can get in touch with the centre to have the issue addressed.

Online transactions are safe and fast. However, it is still open to human errors. These errors can be easily avoided with slight caution from your end. Follow the aforementioned tips to ensure all your transactions are always completed.