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Online Banking Solution India
It is handy to be able to transfer cash between accounts, whether you transfer money from a deposit to a savings account or send money to pay monthly bills. Being able to make instant payments whenever you need to bring several benefits over writing cheques and waiting to clear them.
If you are abroad and need remittance, you can use the option of a quick money transfer facility to send funds to your loved ones. Speed One of the most significant advantages of online money transfer facility is the speed of the transaction. In comparison to cheques, which can take a week or more to collect and process, a transfer of money can be completed immediately and processed within a day or two. The speed of the money transfer operation makes managing your finances much easier and paying your bills on time. Security It can be risky to send a check in the mail. There is always the risk that the cheque may be lost or stolen as it makes its way to the receiver from your mailbox. If the cheque in the mail is lost, you might incur late fees when trying to convince your creditors that you made the payment on time. If the cheque is stolen, the robbers gain access to your routing number and account number, and they can theoretically drain your bank account with that information. Using international money transfer rather than cheques avoids such problems and provides immediate proof that your payment has been made. Flexibility Bank account holders can easily set up numerous external accounts and use them to move money back and forth at will. While the initial process of establishing and checking each account may take a few days, the transfer can be completed in a matter of minutes once the account has been set up. It makes it easy to transfer money to make a significant purchase, take advantage of higher interest rates or make sure that funds are available in an emergency. 24*7 You have access to foreign remittance facility 24*7. You need not go through the inconveniences of official banking hours waiting. This ease of transaction is a ssignificant advantage for urgent matters that are lacking with brick and mortar establishments. Many services also have round the clock support for on-phone customer service. This tool is particularly useful when you have poor internet connectivity or other transactional problems involving human assistance. Most providers have chat boxes where you can manage any queries related to the service. Most mobile banking apps do have the option of a money transfer facility for their customers too.
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October 2020
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