A Simple Guide to Mobile Money Transfer – All You Need to Know

A Simple Guide to Mobile Money Transfer – All You Need to Know

With a smartphone, you can send money to different parts of the world in a few clicks. Sending money through a mobile device only requires an email address or mobile number. The system works like a bank account where you can manage your money from wherever you are instead of going to a physical bank. 

Send and Receive Money from Around the World

Mobile money services make it easier to send and receive money from peers. You can also store the money virtually and access it whenever you want. You can also withdraw the money or deposit it at authorized dealers. Once you deposit the money in your wallet, you can shop online, pay bills, and load your credit or debit cards. 

The main benefit of mobile money transfer is that you can transact anywhere. Even better, the transactions are instant. Even the slowest transaction speeds are only a few minutes. 

The Safety of Mobile Money

Mobile money transfers are under the same regulations as banks and microfinance institutions. As such, a user undergoes identity verification before they transact online. The providers also use data encryption services to ensure your information is safe whenever you send or receive money. These providers also store transaction details for safekeeping.

Before you make the first transaction, you will go through extra steps as part of the security protocol. These steps include creating an account and verifying the provided details. After the first payment and verifications, you will only take a few minutes to transact.

Start Sending or Receiving Mobile Money

Mobile money transfer gives you the convenience of sending money abroad affordably. The process is simple:

Sign Up: Create an account with your details. Required details include your name, phone number, email address, physical address, and a means to verify your identity. The service may also require you to link a bank account.

Verify Personal Details: Most services will require you to verify your email address and a few of the other details provided. From there, your account will be ready to transact.

Send or Receive Money: Check the options to send or receive money on the service platform and start enjoying the convenience of instant payments. To send money, you need to know the recipient’s details – their email address or phone number. Before you finalize the transfer, confirm the details of the recipient. To receive money, you only need to give the sender your details – the registered email or phone number.

Send Money Abroad

Most countries around the world accept mobile money transfer services. The services allow people to send money from their mobile devices directly to the recipient’s mobile devices in different countries. Some services are region-specific, but most allow you to send money wherever you want. You need to compare transaction rates between different services before you start a transaction.

Majority offers you the convenience and speed you need to send money to different parts of the world. Check out the transaction rates, the simple process, and the many regions where you can send money. Get started today.

Clare Louise

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