How to Transfer Money Online: A Step by Step Guide

  • Posted by Jason on July 13, 2014 in Banking Global Money Transfer Technology

This step by step guide on how to transfer money online will walk you through exactly what’s involved in transferring cash from your account to your intended receiver. Using an online money transfer service makes it easy and simple to send cash all over the world with just a few clicks.

Send money online, wire money online

Why Use an Online Remittance Service?

There are several advantages to using an online bank transfer service that allows you to send money orders online, rather than going through your normal everyday banking institution. Online transfer services have lower fees than banks and can provide you with a much more fair and reasonable exchange rate on overseas transfers.

How to Wire Money Online

Step 1 – First, you’ll need to make sure you’ve signed up for Internet banking with your bank. With most banks you have to actually request this be set up – just having a bank account doesn’t mean you automatically have Internet banking access. You will need to call or visit your bank to get this facility set up.

Step 2 – Once you have an Internet banking account, log in to your online interface. You’ll usually see a summary of accounts, along with a button that gives you an option to transfer money. This is the option you want to click on.

Step 3 – You should now see a screen which allows you to choose which of your accounts you want to send money from, and enter the details of who you want to send it to. Select the account where you have the funds, and enter the details of the recipient to send the funds to.

Step 4 – Once all details are filled out you should see a ‘Confirm’ or ‘Make payment’ button – click on this and finalize your transfer. The funds will then be processed.

Step 5 – If you’re transferring money online internationally it can be a little more complicated, but the easiest (and cheapest) way to do it is via a transfer service like OrbitRemit. First thing’s first, you’ll have to sign up with a transfer provider. This usually involves a short sign-up process to set up an account where you can start transferring your funds. When you sign up with OrbitRemit, your first money transfer is completely free. Then you’ll be able to send transfers internationally much the same way you would through your bank’s Internet banking – the only extra detail you’ll need is the SWIFT code for the recipient’s overseas bank.

Keeping Track When You Transfer Money Online

Some services give you no way to keep an eye on where your money is during the transfer process – and if something goes wrong, it can be very hard to know where your money has ended up. This is why at OrbitRemit we have a transparent online system that allows you to log in and check where your money is as it’s being transferred, and we have round-the-clock support to help you out if you have any questions or concerns. This removes a lot of the fears common to sending money overseas online.

Security Tips for Online Money Transfers

Remember – cyber security is an extremely important issue these days, and cyber fraud and theft is more common than you might think. Always be careful with your banking login information and avoid logging in to your bank accounts from connections that may not be secure (for example, WiFi in a coffee shop). Avoid using simple passwords to make it harder for a fraudster to get access to your account – always use a combination of letters, numbers and symbols in your password, and don’t use the same password for any other accounts such as Facebook or email.

Share with your friends to help them send money online safely with OrbitRemit!

 

Visit OrbitRemit Global Money Transfer to find out more.



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