The world is not borderless. Even if you are in a small Greek island or a research team in Alaska, with just one click, you can enter the archives of University of Cambridge or view a live webcam looking at Mount Etna. Shopping for your favorite paprika from a local Spanish brand’s online shopping site or learning Japanese from an old lady has already become a part of our daily routine. Actually, our social network accounts are windows to the whole world in themselves. In such a world, finances can not be limited either.
Actually, it is charming what this new financial aspect has brought to our challenging lives. To send money abroad was not only pricey but an exhausting process. International money transfers from a traditional bank account could cost you more than 5% of the total amount and the time of transfer could take more than a week. A mother with a daughter who is in the Erasmus Program had to use this way in the beginning of 2000’s. Today, to send money abroad takes just a blink of an eye and nobody is doomed to either uncertain dates or high fees. If you have a daughter studying abroad, all you need is to utilize an international money transfer provider and your beloved one will receive it in less than 10 minutes in most of the cases. But is it really sunshine and roses? Sadly, no.
“With great power comes great responsibility.” says Voltaire. We have no idea how sending money overseas was done in the 18th century. But the statement is absolutely true. This power of being able to send money overseas comes with security issues. Since you will need to insert sensitive information (such as your Social Security number or your banking information), your hard-earned money can be stolen. In a worse scenario, even your whole available balance can be gone.
But how to avoid scam money transfers? What are the signs of a disreputable money fraud site?
Check the site URL!
This is Internet Security A101! No matter whether you are logging into your social media, online banking or e-wallet on any browser, you must check what is written in the address bar. Please note that a secure web address never starts with only “http”, but “https”. Other warnings are an open lock and red background. If you realize one of these, it means the website is neither encrypted nor secure for your personal or financial data.
Can it be so perfect?
Frankly, transaction fees and costs are unavoidable parts of international money transfers. The ones who promise fee-fre.e services are generally after something hazardous. Plus, charming interest rates that are significantly higher than mid-market’s can also be another red light. Therefore, do not let vain promises fool you.
Search for everything you may find!
Look for the “About Us” section on the website and search for contact information. Contact information must include at least one current address and a telephone number. Moreover, you can google to find extra information about the subject company.
Trace the customer reviews and complaints!
It is impossible not to leave a footprint on the review aggregators for any company. Monitoring mentions of customers, positive or negative reviews or social media accounts, will help you a lot to decide whether they are what they claim to be or not.
Instead of taking the possibility of risking your financial and personal information, why not choose a prestigious and trustworthy company? Simply register a well-known one like Jeton and operate your transfers smoothly with no apprehension or disbelief.
Join for free