Transferring money online is not just for people working abroad. With the internet, you can send money to someone for various reasons using a ewallet which guarantees that your information, as well as that of the person to whom you are transferring funds, is always safe, and that transfers are always instant.
If you have never done this before, you may be wondering about the different ways to transfer money online. You may even be considering doing it in the future, but want to know about all the different purposes of using a ewallet for a service like this. Here are a few ways to consider:
1. Transferring money online to your child abroad. If you have a child and they are studying or travelling abroad, using a ewallet is very useful in helping them out when they need a little extra cash. Whether the cash is for school books and supplies, rent and accommodations, groceries, train or plane tickets, sending money online to them can get them out of a bind or back home for a visit in mere moments.
2. Collecting money for a fund raiser. If you decide to do a fundraiser for a charitable cause, donors can use an online e-wallet for sending money online. Some payment solutions will even have nifty “Donate Now” buttons you can place on a website, or you can just tell friends and family to send money directly to your personal ewallet. After reaching your goal, you can withdraw the amount and write a check for the organization. Or if they happen to accept donations with the ewallet solution you used to raise money, you can just transfer the money you raised directly to them.
3. Paying back a personal loan. If someone lent you money, and you need to pay them back, you can use a payment solution for sending money online. All you have to do is add a credit card to your electronic wallet or add money by bank account, and transfer the money to the person you need to pay back. They don’t even need to have an established electronic wallet account. Once you transfer money to them with their email address, they will be invited to complete registration (which takes only a minute) to claim their payment.
4. Paying an invoice. If you bought a product or service from a merchant but still have yet to settle your bill, they can invoice you with a payment solution, making sending money online quick and easy with just one click of your mouse.
These are the most common ways to transfer money online. Writing and mailing checks are a thing of the past and a waste of paper. Online money transfer takes way less time, less effort, fewer stamps, and is friendlier to the environment. Even though using technology to pay bills, make donations, send money to your loved ones and pay personal loans can take a little getting used to, you will be pleasantly surprised at how easy and convenient it is, and how much time you will save in the long run.