Money Transfer Security

When you complete a money transfer to a friend, family member, or associate, you want to make sure that it is secure. Since money transfers are vulnerable to financial fraud, ensuring the security of your money is important but not always easy to do. Whatever type of online payment system that you choose to work with, keep the following tips in mind:

  • Request a confirmation number for your reference so that you have proof of the transfer’s completion.
  • If you are sending money over the Internet, visit the site to see what security measures are in place. EPAY, for example, uses data encryption, backup storage, 128-256 bit https account access, IP protection, passwords, and digital signatures to keep money transfers safe.
  • Find out of the transferring institution insures its transfers. EPAY backs its members’ accounts 100% in USD and EUR funds.
  • Follow up with the recipient to verify that he or she has received the transfer in a timely manner.

ost transferring institutions are committed to maintaining the integrity of their financial services, so they work hard to keep your money secure. However, it’s always a good idea to use caution and do a bit of research before sending money, especially if you are sending funds through an institution other than your usual bank.