How to Clarify Busting Myths About Online International Money Transfers?

Do you want to send money to Senegal or another part of the world? It would help if you went for an online money transfer service. Researchers discovered that four out of every five households with Internet access already use online banking in a survey this year. This modern way of keeping track of your finances has become something of practice in our culture, but those who do not use it have levelled criticisms against online money transfer.

Here are busting myths about online banking to help debunk some of these claims.

Myth 1: Do You Have to Be Tech-Savvy to Use Online Accounts?

Although using an online money transfer service for money transfer to Senegal and accessing an online checking account requires using a computer, tablet, or mobile, one of the most common misconceptions about online banking is that you must be a computer geek.

“You don’t need to know a lot about new technology to have an online account,” Mariama says. “Since some money transfer providers, such as ACE Money Transfer, understand the importance of user-friendly websites and mobile apps, they frequently use a simple and straightforward template—even for complicated transactions.” those who claim to be tech-illiterate can easily send money to Senegal online.”

Moussa, who recently opened a new online Ace Money Transfer account, debunks this online banking fallacy as well. He says, “I went online and filled out a simple form and had immediate access to my account.”

Ousmane has had an online bank account for online money transfer to Senegal for ten years and has not found it difficult to use, dispelling the misconception about online checking. “You can maintain an online-only account if you can manage your conventional bank account online through its website or app,” Waqas says. “The basic perception is the same.”

Myth 2: Online Checking Isn’t Insured – Is It a Fact or Myth?

According to Moussa, online banks can be FCA members, which means they ensure your money up to $250,000 or the maximum permitted by law. Make sure the online bank you’re considering is FCA-insured before you open an account. To determine whether an online bank is FCA-insured, call 0800 111 6768 (freephone), or 0300 500 8082 from the UK, or +44 207 066 1000 from abroad.  And ask about a remittance service specialist. The FCA’s online Financial Service Register helps you to check for banks by name and provides you with details such as their FCA number and status, among other things.