How can you send money safely during a pandemic

send money safely online

The COVID-19 pandemic has affected almost every sector of the economy including online money transfers. As soon as the pandemic started, many countries took various measures to prevent further spreading of the infectious disease. One of those measures was to prevent the handling of hard cash.

send money safely online
send money safely

This has led to an increase in the number of people using online money transfer services. The good thing about digital payments is that you can send a large amount of money within a short time. There are several companies that offer transfer services at affordable rates.

However, the main concern with sending money online is safety. There are instances where people have lost funds to hackers while attempting to send or receive. But that should not be the reason to scare you from using online transfer services.

Both service providers and users have a role to play when it comes to promoting the safe movement of money online. As a user, there are several things you can do to ensure hackers are and scammers are always kept at bay.

Here are some of the ways to send money safely during a pandemic:

1. Learn how to detect online money scams

Although there have been online scams in the past, the COVID-19 pandemic has seen the number of people being scammed online increase significantly. This is probably because of the high number of individuals sending money through the internet.

Online hackers know that many people are ignorant of how most online payment services work. They will use ingenious ways to trick you into exposing your financial details to them. That’s why it is important to learn different tricks used by such people to keep yourself safe.

2. Use a reputable money transfer service

As mentioned earlier, there are many companies that provide online payment services. But not all of these companies can be fully trusted. You need to carry out your own due diligence to ensure that the service provider you are using is accredited to offer those services.

All transfer services in the U.S are supposed to acquire a license known as Money Service Business (MSM) before they are allowed to operate. You should find out if the company in question has that license or not.

3. Encryption

This is another great way to send money safely during a pandemic. Before sending money online, you need to make sure that the mobile app or website uses the encryption feature or any other reliable security features. Entering your debit or credit card information on an insecure website will expose your personal details to hackers.

4. Entering incorrect details of the recipient

When you enter the incorrect details of a recipient such as a wrong bank account or email address, the money is likely to go to the wrong person. Reversing such transactions is not easy and at the end of the day you might end up losing the money.

Bottom line

The COVID-19 pandemic has greatly changed the way people send money. It has also resulted in a high number of scams in online payment. You should always exercise absolute caution when using only money transfer services.

Other articles from mtltimes.catotimes.caotttimes.ca

Quebec getting back to normal – Opening slowly and curfew lifting

Facebook
Twitter
LinkedIn
Email
Is it possible to get an A for a 5-paragraph essay assignment in 1 hour? We can safely say yes, a student can get an A+ mark if he turns to EduJungles


staycation

The ultimate guide to planning a long family staycation in Canada

To guarantee that everyone has an amazing time, careful planning is necessary when organizing a lengthy staycation. Here’s the ultimate guide to planning your family staycation in Canada. Canada, with its vast landscapes, diverse cities, and rich cultural heritage, offers endless possibilities for a memorable family staycation. Whether you’re exploring the stunning natural beauty of

Meal kits

Cost vs. Convenience: Analyzing meal kits and traditional cooking

In this modern world and modern times, convenience often takes priority over cost, especially when it comes to food. Meal kits and traditional cooking represent two different approaches to home dining, and each of them has advantages and disadvantages. Analyzing these methods through the lens of cost and convenience provides insight into why individuals might

Condo renovations

Condo renovations Dos and Don’ts: Expert Tips for a Successful Project

Embarking on a condo renovations journey can be both exhilarating and daunting. Imagine transforming your living space into a stylish haven that reflects your personality and meets your needs. While exciting, the process can be full of challenges and unforeseen hiccups. That’s why we’ve gathered some condo renovation dos and don’ts from the experts to

Terrific Hair

Terrific Hair Means Tamanu – Earth to Body

Curly, straight, thick, thin, kinky or silky, tamanu loves and makes terrific Hair.  And scalps. Nutritionally dense yet gentle, tamanu is an effective and versatile nut oil. It stimulates, helps promote growth. prevents hair loss, reduces scalp itch and irritations and adds a natural sheen! Make tamanu a part of your hair and scalp care

Understanding the 4 legal process after a DUI Crash

A single mistake can have serious consequences, especially when driving under the influence. The aftermath of a DUI crash extends beyond physical harm and property damage. It involves a complex legal process that may feel overwhelming. As a responsible citizen, it’s vital to grasp the legal system and your rights in such situations. This blog

personal injury lawyer

Pedestrian accident: How a personal injury lawyer can help you

Accidents involving pedestrians can be life-altering. You could be walking down the street or crossing a street. A vehicle’s sudden impact can change everything right away. If you’ve found yourself in such a situation, you might be wondering how to move forward. This is where a personal injury lawyer steps in, offering crucial help and

Mtltimes Subscription

The latest on what’s moving Montreal and the world – delivered straight to your inbox