Lots of people prefer to use money transfers to send and receive money over physically handing and getting money. However, there is still danger to money transfers, but luckily you can decrease the danger. You can follow the tips below to make your money transfers safer.
Choose Reliable Payment Methods
Firstly, you need to choose a reliable payment service company before you make a money transfer. Take a look at the reviews of the company before using it; you want to see that your money and your personal information is their top priority. For instance, TaxCorporation offers reliable payment methods for both businesses and regular people and they have stellar reviews about their services.
You should also make sure that they are good for what you need. For instance, PayPal may be a popular payment service company, but their services may not suit your needs because you want quick, instant transfers of small sums of cash. Therefore, Venmo would be a better and safer option for you. Wire transfers are generally agreed to be one of the better options for sending big amounts of cash, so just choose the proper financial institution to send big sums of money.
Once you choose the payment service company that you want to use, you need to make sure that you are secure. Firstly, make sure that you are using your own smartphone or computer. Using shared devices or computers makes it easy for the next person to find your login details and other personal information. Make sure that your device’s applications and software are updated before you make a transfer as well to ensure a smooth process.
Next, you need to use your own personal internet connection. Never make transactions over public Wi-Fi. Public internet connections are a perfect place for hackers to see you login and make transfers, so they can easily steal your information and money. Therefore, you should use your own devices and internet connection before you making a transfer.
Be Wary of Phishing Scams
Most payment methods are fairly secure, given that you choose a reliable service with a strong encryption code. However, they will not protect you from people that would fool you into sending your money or personal information to them. Scammers still lurk around and try “phishing” scams to scam people and financial institutions and companies cannot protect you from that.
Instead, you need to keep a look out for these scammers. They often try to send convincing emails and text messages that say you need to send them your login details or click a link. However, sending them anything or clicking links can expose your personal information. Before you send anything or click any links, carefully check the sender’s details; if the contact information is not the legitimate source, do not click it. But a general good rule of thumb is not to send information or click links, since most institutions and companies do not ask for that.
Whenever you want to receive and send money, make sure that you stay safe as possible. You can follow the tips above to keep your money and information safe when you transfer cash.