Online money transfer is basically the money transfer process of moving your funds from account to account. And this transaction could be done anywhere around the world. In reality, the money is not transferred physically but it is just about changing numbers virtually. Or in other words from one account cash is credited and from another account, it is being debited.
Money Transfer Process
And to carry out this whole process there are several different methods to be done. Like Cheque books, pay order is being converted into Credit Card, Debit Card and ATM. It is not necessary that money should be transferred for only one reason. Actually, there are several different reasons for cash transfer online like payments of utility bills, loan payment, payment of insurance premium, tax payments, Salary transfer and salary receiving account.
And if you want to get all this stuff to be done with online banking then you have to apply for that. And as a result, the bank will generate a username and password for your account. Now all you have to do is to login with that given information. This way you can send money online directly through your
bank account. Further, the best thing about this is that it is a really safe, easy and quick process to be done.