Do money transfers show the receiving person the senders name and information?

1 minute read

Today’s banking system is full of information on their users. Whether you have a credit card or bank account in your name, any transaction you make comes with data about you. Here is how money transactions work:

How do money transfers work

With so many users in the banking system, keeping a money transfer completely anonymous might seem a bit difficult. In order to connect both parties to make a money transaction, it’s necessary to prove their identities. There are multiple transfer services, but Wire transfers are the quickest and safest option for international transactions.

Wire Transfers

One of the most commonly used transfer methods is a Wire transfer. This easy method allows users to transfer money across the globe with personal information such as the sender’s and recipient’s name and account number. When using these types of transfers, each user must provide a valid government ID to prove their identities, which makes a money transfer hard to be anonymous.

Partners such as Western Union require the receiver to confirm certain information to be able to collect money. This information includes the sender’s full name, the city from which the transfer went out, and the sender’s bank account.

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Daniel Quiroz

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