Key Tips for Ensuring Safe International Money Transfers

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It’s safe to say that money transfers have become very simplified in the past couple of years, and that, nowadays, there are lots of options that you can resort to that will allow you to do this fast.

However, just like with any other things that people do in the online world, sending money internationally isn’t always secure, due to a variety of different threats that are continuously looking to endanger your data, money, and overall safety.

But on a more positive note, there are many precautionary steps that a person can take that will help them transfer practically any amount of money online. If you would like to reveal them, then just follow these tips below.

First Be Sure To Select A Reliable Transfer Platform

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Sending money overseas has become a very common practice and something that many people these days, resort to. In these situations, one of the best tools that you can opt for is a money transfer platform.

In the online world, you can encounter lots of different ones that are considered reliable. Among them is Paysend which a lot of people use to send money to Brazil, and to many other countries. Even though most of these platforms are generally very secure if you want to be one hundred percent certain that you chose the right one, then you need to take several factors into account:

• Transparency is very pivotal – This is possibly one of the most essential factors that you should focus on when picking the right platform. You need to be sure that it provides crystal clear information concerning its fees, exchange rates, and, of course, terms and conditions. 
• Aside from that you need to be certain that it is safe and secure in every sense. You should opt for the platform that is licensed, and that adheres to all the rules and regulations of the country it operates in
• The importance of customer support – Since you’ll be utilizing their services very often, then you need to select a money transfer platform that comes with accessible, professional, and reliable customer support because only then, you’ll have a seamless experience. You’ll probably be able to find various online reviews in regard to it that will tell you if it’s reliable enough or not. 

Banks May Not Be A Bad Idea!

Before money transfer platforms came into play, people were mostly relying on banks. Even though these platforms have slowly taken over the world, it doesn't mean that banks are no longer employed.That’s because they are still considered very safe, just like wire transfers, such as Western Union. Both of these tools are generally secure, which means that you should surely consider them whenever it’s time to transfer money online.This is particularly a good idea if we're talking about substantial amounts of cash. The only reason why some people refrain from banks is because they have pretty high fees in comparison to money transfer platforms.These expenses are especially high when you’re transferring larger sums. Another thing that you may not like when it comes to wire transfers and banks is the fact that they tend to be a bit slower, which can honestly be very nerve-wracking.However, if you’re not in a hurry, yet you need something that’s extremely safe and reliable, then banks or wire transfers, are the best option for you.

Pay Close Attention To The Recipient’s Information

Bear in mind that even the tiniest error that you make during this process can ruin everything and doesn’t allow you to properly send cash internationally. That’s why, you need to check everything twice, particularly the recipient’s information. This includes the following:

• Their full name and home address
• If you opt for a bank, then you need to pay close attention to the Bank Identification Code or SWIFT of the recipient’s bank. These two are practically the same.
• A bank account number or an International Bank Account Number.

Before you send any money, you first need to go through all these aforementioned details, just to be one hundred percent sure that you’ve added everything correctly.

Steer Clear Off Various Online Threats!

As stated in the beginning, money transfers are usually pretty safe, however, there’s no guarantee that you will be fully protected from various threats that are lurking out there. If you want to make sure (to some extent) that nothing jeopardizes your money transfer, then these are the things that you should be focusing on:

1. There are fake transfers – One of the most common reasons people are tricked during this process is because they choose a fishy provider. So how will you be able to tell whether it is trustworthy or not? For instance, if it looks too good to be true, then you’re probably dealing with a scammer. If it seems very legit, it will most likely steal your money and/or information as soon as you add your details.
2. Hackers are always there – Unfortunately, hackers may not always be visible, meaning that you cannot easily notice them, hence it's pivotal to pick a safe network when you send your cash and/or information. Bear in mind that if you choose an unsecured Wi-Fi network and enter your bank account details, then you'll be at an increased risk of information theft. So what can be done in these instances? Namely, they may try to redirect the transfer to another account.
3. Identity theft is common as well – Speaking of hackers, another thing that they love to do is to steal a person’s identity when they are trying to send money by using an unreliable platform/service. You may think that identity theft is difficult to pull off, but the reality is that it doesn't really take a lot. All they need is your bank account number, along with personal details, and voila, your identity is stolen. So be careful!

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‍One of the biggest advantages of money transfer is the fact that it’s pretty fast and simple, however, since it isn’t always safe, then be sure to implement every piece of advice that was given today to properly protect yourself.