Monday 21 August 2017

Send Money Online to India without Falling Prey to Internet Fraud

Internet frauds happen all the time and most of the times, we are responsible for the insane amount of money we lose due to them. Is there anything we can do to stop them? Let's find out.

Phishing

Whether you wish to send money online to India or Philippines or just want to purchase something, or want to donate to charity, there will be innumerable occasions that will require you to send money via the Internet. It is of course, one of the fastest and most convenient ways of paying money. While doing so, you need to be extremely careful to avoid falling prey to phishing scams. These scams happen via email communication or even through social media. Scammers will urge you to share your bank account details and other pertinent information. Since these requests come from seemingly authentic sources such as banks or other financial institutes you have been associated with, you rarely suspect anything and become most vulnerable to this kind of scam.

Preapproved loans

What more can you ask for when you are going through a rough patch financially and you receive an email from your bank stating that you have a preapproved loan? This kind of 'too good to be true' offers are often a trap. Remember, there‘s no such thing as a free lunch and no bank will ever agree to give you a loan until it analyses your current financial situation and checks your eligibility. So, steer clear from anything that sounds unbelievable.

Social media scams

When you stop being rational and get involved in a romantic relationship with someone you met through your social media network, you may be preparing yourself for a social media scam. There is usually a huge distance between you both due to your respective geographic locations. Initially it will be all good, since the scammer will have all the patience in the world to wait till trust is established. Just when you think everything is perfectly okay, there will be some emergency at the scammer’s end and he/she will request you to send money.

Be aware

The list is endless and there are ways and means to dupe innocent individuals while they send and receive money online India or any other country. The key to safe banking and secure transactions is entirely in your hands. All you need to do is use safe payment channels only that are recommended by your bank or people you know.

Internet frauds have been extremely challenging to regulators since the con artists invent novel ways of cheating you. Besides, there are different kinds of scams. So those falling prey to bank transfer scams cannot be covered in the exact same way as credit card fraud victims. Regulators believe that a blanket approach will not be feasible and compensations should be paid out on a case-by-case basis. After all, it is the responsibility of individuals too to keep their money safe and implement all the safety measures.

Wednesday 9 August 2017

Why Check Reviews of Money Transfer Services to Send Money Online India


Remittance is a vast field and it takes an expert to understand the finer nuances of remittance and money transfer. With the advent of Internet Banking, a lot of people are now opting for online money transfers. There are several online and offline money transfer services these days that help you transfer money quickly and in a secured manner. However, it’s important to understand the pros and cons of each method in order to choose the one that best meets your needs. That’s precisely where reviews come in.

Online reviews can help you send money online India with the peace of mind that you have chosen the right service and your money is in safe hands. They also help you choose a provider on the basis of the services it offers. Some may offer better deals for frequent money transfers while others may offer loyalty bonus and discounts for privileged members.  The rationale behind reading reviews is to compare and know which services you should completely avoid. Once you zero in on a few good ones, you can talk to their representatives or check their websites and see how they can help you.

Always look for service providers that can help you choose the best exchange rate to India, and have a good network. Also ensure that they do not charge exorbitantly for fast transfers. These seemingly small things can make a big difference when you have to transfer a considerably large sum of money to India. No matter which provider you choose or how good a deal is, what really matters is the final amount. The final net worth of your transfer will determine how much money you have lost by way of service charges and other related costs.

All in all, checking reviews of money transfer services and comparing them is a good habit if you are new to the world of remittance. Make sure you look for genuine reviews in order to make an informed choice.