The electronic transfer of funds is a wire transfer. These money transfer type can be either domestic or international. There are different methods of wire transfers to include using money services transfer providers or banking institutions. Funds sent via transfers span long-distances and can be sent from a bank account to another or from person to person. The money does not physically move from one place to another.
Select the option
If you are sending or receiving money, it is best to know what are the various kinds of wire transfers so that you can select the option that best suits your needs for any given transaction. There are times that the only method for the payment would be via bank wire, such as when you buy a house. For other instances, such as sending money to a loved one overseas, you can use nonbank wire transfers that do not require the sender or the recipient to have a bank account.
Bank wire transfers
The sender has to provide the payment transaction information about the recipient, and the said amount will be debited from the sender, to be ‘moved’ electronically to be credited to the other person. For bank wires, the information includes the name of the bank account holder, such as that of a person or company, savings or checking account number, and the amount to be sent.
Nonbank wire transfers
For a non-bank wire transfer, the amount is paid to the money transfer service. The information required would be the name of the sender, and perhaps other identification details such as the address, and the amount that has to be paid upfront. The recipient’s details are also required, to include that of their location, and where it can be cashed out, be it at a bank or one of the money services network of agents. There are some non-bank wire transfers that provide a certain amount of anonymity as these money services only require the name of the sender/recipient, the amount, and the pickup location.
In today’s global economy, there is a need for the advanced solutions by an excellent money service provider. All the transactions can be done online with the use of the website or the company’s app, or an e-wallet. Transactions for wire transfers can be done nearly instantly. The options of this company on how the funds can be sent and withdraw also encompasses more than other money service providers as it can be via bank, debit card, credit card, the company’s card, or the e-wallet.
Credit card payment processor
This reliable company also has services for those who accept payments online. Their services include that of credit card payment processing for websites such as eCommerce stores. These advanced payments solutions include that of being able to obtain virtual USA And EU accounts, or their USD prepaid card.
There is no longer any need to physically go to a bank or to a money service to send or receive funds. You’ll have all the options for wire transfers, be it from a bank account or from an individual, or from your cards. All you need to do is to go online and open either a business or personal account with this reliable money services provider.