Is sending money online safe?

2 minutes read

Nowadays you can make transfers almost anywhere over the internet. While there are many options to do so, and like anything that involves money, it lends itself to theft or fraud. Finding the best option is critical to ensure your transfer is safe and that you make the most of your money. Read on to learn more about online transfers, how to avoid scams, how to protect your online transfer, and some of the best ways to send money abroad.

Spot and avoid online scams

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There are many secure platforms for making online payments and transfers, but online scams are still something consumers should watch out for. When choosing an online transfer provider, make sure that their website is reliable. You can confirm this by ensuring that the page has a padlock next to the URL bar, just like this:

To prevent your information from being stolen, remember that any trustworthy financial institution or bank will never call you to ask for your PIN or banking passwords, nor will they ask you to update your information through a link or text message.

How to protect your transfer when using online providers

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Once your transfer has been processed and the money has reached the destination account, it is difficult if not impossible to get the money back. Keep in mind that a typo mistake in online transfers can be very costly, so it is best if you only send money to people who are in your address book, and avoid possible errors when entering the information manually. Before confirming a transaction, confirm all the details of the person to whom you will send the money to and avoid any misunderstandings.

Best ways to send money

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The best way to send money will depend on the perks you are looking for. Whether you want fast transfers or lower rates, there will always be a provider for you.

*Here are a couple of our favorite options:

  • Worldremit: Worldremit has a wide network of locations to pick up cash almost immediately. If you are looking for fast transfers it is an excellent option, but it has a higher cost than other options. On their website, you can simulate what the cost of your transfer would be.
  • Bridge21: For all Mexicans who want to send money home, Bridge 21 is the option. With them, you can send small amounts of money of at least $5. Sending money will take 4 to 5 business days, and take advantage of their first transfer fee-free promotion!

Daniel Quiroz

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