Money Transfer Services in India
Online money transfer is where the old-fashioned concept of wiring money converges with the modern technology of electronic funds transfer The quickest and safest way of Money Transfer Services is via bank wire, the procedure for such a transfer is as follows:
1. The person who wishes to execute the Wire Transfer Services advises their bank of the amount of money to be paid as well as the bank details of the payee; these details will include the IBAN and BIC code.
2. Once the sending bank has received all the relevant details and authorization they will transmit a message, via a secure system, to the receiver's bank that it effect payment as per the instructions given.
3. Wire transfer services usually takes three business days for the funds to clear.
Online money transfer services is the modern-day equivalent of wiring money: You can use these wire transfer services to send someone money instantaneously simply by transferring money (or the data that represents that money) from you to another person. Usually involving little more than contact information -- such as a cell phone number or an e-mail address -- for the sending and receiving parties tied to a bank account, online money transfer can be done for a small fee from a secure, Web-based service via any computer with Internet access. There's no need to go to a money wiring office, telegraph station or even a bank. The price of money transfer services will vary according to such factors as the country the money is being sent to, the amount the payment is for etc.
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