Secure Ways to Send Money


As the global economy expands, and national and international communications increase, money transfers become more common. You may need to deliver funds for personal reasons, such as sending your grandmother in Iowa money, or maybe you just expanded your business overseas and need to receive funds from a client. No matter what the purpose of your transaction, you will want to make sure that your money is safe and that your account information remains secure.


PayPal is a simple way to send money to anyone with an email address and PayPal account. Using an email address for money transfers prevents the other party from even knowing your banking institution, so PayPal is a secure way to move funds between two parties. PayPal acts as a sort of barrier between both parties by keeping information secure on both ends. PayPal is not immune to online hackers, but they do safeguard all sensitive information using data encryption. To ensure your safety, choose a solid password to access your PayPal account and check your account regularly for any strange or unexpected transactions. Never log in to PayPal using a public or shared computer and always make sure to log out when you are finished.

International Wire Transfer

If you are sending a one-time, lump sum of money to another country, the safest method is probably a wire transfer. Bank-to-bank international money transfers are considered to be the safest type of wire transfer. A bank-to-bank transfer requires that the receiving party present identification in order for the funds to be released. Also, bank-to-bank transactions are done through a secure network, so any sensitive information exchanged between the institutions is encrypted. You may wire money to other locations, such as cash offices, but this method is not as secure and has led to many a theft. Cash offices often do not require identification from a recipient, and your financial information is not encrypted and has more potential for exposure to a second or third party. When attempting a bank-to-bank transaction for international transfer, make sure both banking institutions have a reciprocal account with each other. Most international banks will have a correspondent relationship with a U.S.-based institution. For example, if you bank with Bank of America and are attempting to send money to China, you would want to make sure that the money is sent to a China Construction Bank. Inquire at your bank about their international policies for wire transfers and correspondent relationships.

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