There are several among you who are unaware of the term Emoney. So in order for you to understand that you must know that physical cash and emoney are not the same. Basically, this type of money is just virtually present in your bank or any other account rather than the cash that you carry in your wallet or purse. But that does not mean that this virtual money is not of any importance, but actually, it makes your life a lot easier for you.
Modes of Transfer
First of all, now you need not carry a huge amount of cash in your pockets when everything is right in your laptop, or smartphone, or inside just a simple card. And all these are the stuff that provides you access directly to your accounts like in a bank or Ace Money Transfer, and from here you can transfer the money for the services you get. First of all, there are laptops and mobile phones from which you can transfer the money to anyone’s account if you have access to the internet. Because in order for such transfer you are going to require online banking, which is not possible without an internet connection. But when you are out there for shopping or hanging out with your friends then, of course, it is not appropriate to take out your laptop to pay for the dinner or other stuff.
So instead you have debit or credit card to pay for such things with your emoney. Now you must be thinking that what the difference between debit and credit card is. A debit card is basically the amount that is already existed in your bank account, and that money will be deducted right from the amount from that money. But credit card works in a different way because for that it is not necessary for you to keep the money in your account.