The online money transfer system

online money transfer system

The traditional way of sending money is transformed into the digital world as an online money transfer systemThe online money transfer system is a huge network spread all over the world.

Online money transfer is an electronic sending way of wire money with the high protocol of safety and authentications. The whole communication is done through the use of the internet. You have a list of possible ways or services to send your money online from your home place to any other location in the world.

What are the major online money transfer system exists

Revolutionary trend changing in technology lead the send money online into diverse dimensions. There are numerous ways of online money transfer systems available to facilitate their customers. The major means of transferring money online are

 1 NEFT (National Electronic Fund Transfer)

NEFT (National Electronic Fund Transfacemoneytransfer.comer) is a well known and most adopted way of online money transfer from one bank to another. People can easily use this system. If you want to do the NEFT transaction, you just have to go through the simple process having to share some important information. The first thing that you need is the account number and the second thing is the IFSC code of the destination account.

By using NEFT, you can send the amount of money of your selection but some banks also have limited the transaction amount send to be online.

How to Use NEFT (National Electronic Fund Transfer)

  • Simply go to the fund transfer tab, and select the option, transfer to the bank. (NEFT).
  • Select the recipient account and enter the relevant details.
  • Accept the terms and condition
  • Recheck the details and complete the process.

2. RTGS (Real Time Gross Settlement)

RTGS (Real Time Gross Settlement) is almost close to NEFT, but the minimum payment and the way of credit on the destination account differs.

How RTGS workout

  • Go for the option “RTGS” by simply selecting a fund transfer tab.
  • Select the recipient account and enter the related data.
  • Accept the terms and conditions.
  • Recheck the details, if all the data is correct. Confirm and complete the process.

3. IMPS (Immediate Payment Service)

IMPS (Immediate Payment Service) is an instant transfer fund service. It is simply the combination of RTGS+NEFT). You just need to know the destination account holder’s IMPS id (MMID) and the user mobile number.

UPI (Unified Payment Interface)

UPI (Unified Payments Interface) is a real-time payment system that allows a transaction to be easily done by using your smartphone VPA. (Virtual Payment Address).

Only mobile number and name are sufficient and the transaction can be done within 24/7. Unified Payment Interface (UPI) enabled the apps that allow the transfer up to Rs 1lakh.

2. Cheque

You can go for the transfer of money by using your Cheque. It is immediately done at a branch if the transfer is within your bank.

Using this way, there is no limitation of sending your money from your bank account, but if you need to withdraw a certain amount, then you are restricted.

There is another restriction of taking your amount by using a Cheque. You are not allowed to withdraw the money more than Rs 50,000 from a non-home branch.

Looking for instant collection to send money to Senegal

Senegal is a country based in West Africa. People are looking for service providers who can send their money to Senegal by just utilizing limited sources.

How money transfer services are helping to send money to Senegal

Many companies are playing their role to keep hand for the people of Senegal. They have low fees charges and the best money exchange rate.

Small World

Small World is unique in its service. They have good value in sending money online to Senegal. The banks account such as BHS (Banque de L’Habitat Du Senegal or Banque Atlantique Du Senegal is providing the online transaction facility. The beneficiary can collect the money in cash within 5 minutes. Another way is that money is sent directly to the deposited bank account. Highly secured having cutting edge payment technology.

ACE Money Transfer (Delivering your Promises)

ACE Money Transfer is the top leading service covering all over the world. One can send money to Senegal without having any issue. They can provide you with many possibilities of sending money just within a few minutes. Exchange rates are much better than any other service.ACE money transfer is innovative in online money sending services. Apps and many best features are part of ACE’s promise.


Your loved ones are waiting for your transactions. Business partners are looking for quick services for sending money online to Senegal. Transferwise is always looking for the ease of the customers. They never hide extra fees in the exchange rate. Fair and low costs transfer of money from the United Kingdom to Senegal is deposited. You just need to pay the flat fee of 2.77GBP +0.65 of the amount.

Send Money Online to Senegal from the United States

Remitly is the most trusted and reputed online money sending the company to Senegal from the United States. Your delivery will be in time having peace of mind for you. They have introduced two kinds of services for their online customers.

  • Express(Fastest money transfer way by using pay with debit or credit cards)
  • Economy (Lowest money transfer fees by using your bank account).

You can find out the bank outlets like Eco Bank, UBA, FBN Bank, Credit International, BSIC and C’EST VOUS l’avenir. Totally granted and secured. Customer service is available specially designed for the satisfaction of their customers. Industry-standard protocols and encryption procedure is valid on every transaction.

Other Service Providers

  • Xoom
  • Check It out
  • Monito
  • Azimo
  • Wari
  • World Remit
  • Rio Money transfer service With cheap online money transfer Service

Online Money Transfer App

  • OFX
  • PayPal
  •  Venmo
  • Zelle
  • Square’S Cash App

One can choose the best money transfer app by considering a few factors like transfer speed, Geographical location and who is the person to receive the transaction.

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