5 Safety Tips for Transferring Foreign Exchange Online
You know how difficult and tedious money transfer can become if you have worked abroad. Exchange of currency can be a pain if you have to send money to family or friends overseas.Finding a reliable online exchange provider or looking for banks in an unknown country can be costly, tiring, as well as time-consuming.
Of all the methods available for sending money, online money transfer is the right way, as it is fast and involves nominal costs.With the help of a reliable money transfer service, money can be sent quickly in a secure way to your dear ones anywhere across the globe.
Overseas online remittance involves a lot of confidential bank and personal details which expose you to several risks.However, you can protect yourself against these if you take proper care. Here are five important tips for a safe and secure online money transfer.
First of all, use a safe device free from malware for online remittance. Otherwise, by unknowingly exposing yourself to certain malware you can dangerously compromise your personal and bank details. Make a habit to ensure that a device does not have malicious software before using it to send money. For the same reason, you should never use a public computer for remittance. Similarly, it is vital to have a strong password, which no one else knows except you, strictly.
Check whether the account to which you are transferring money is authentic and has proper processing systems.Do not avoid any verification. Keep your papers up to date for that. Keep a tab on whether the transaction is happening in the stipulated time. Do not take any delay in the entire process lightly, and report it immediately. And yes, preserve all the receipts of the transfer, once it is done.
- Speed or Safety?
Every country has a lot of agents to do the running around for people who either want to send or receive money. They make your task easy by connecting you to the right points. Even this method involves a great amount of identification check. So beware of countries where the agents are offering to take the money to your recipient without asking anything for the identification check, except for a 10 digit code.
- Phishing Frauds
How many times have you clicked a harmless looking email, oblivious of the trick it can do to your records? It makes you enter all your personal details without giving you a chance to doubt its authenticity. And you fall for it, compromising your security. Be very cautious about such mails and links, as they come in the guise of very important and genuine things. Check for their authenticity before entering any personal details. Remember, no authentic site asks for your bank details.
- Advance Fee. Really?
They commonly call that a Nigerian Fraud.Each one of us gets such emails regularly. The innocent looking email is a common con game to rob the user by announcing that he or she has won a huge lottery. It asks the user to deposit an amount to be able to collect the huge money he or she has won. The amount asked for is usually nothing as compared to the big lottery money and people take a chance by sending the money upfront. What is more dangerous is that in the process, not just money, but a lot of useful information of the user is lost, making him vulnerable to more online frauds.
Life has really become easy with online money transfer. Along with being one of the safest modes, it has added a lot of comfort and convenience as it has eliminated the need for a bank visit or a remittance agency for overseas funds transfers. Just a secure internet connection, a safe device and these safety tips are all you need for a hassle-free remittance experience.