Why Giving out Your Password of Online Money Transfer Account is not Secure?

Overseas Pakistanis who often send money to Pakistan understand the importance of a reliable service provider. Whether it is ACE Money Transfer or any other company, exchange rates matter a lot.

Online money transfer is making life easier for a lot of Pakistanis. Especially when you are living away from your family, in a faraway country and earning money so that you can feed and support them. Fulfilling their responsibilities and necessities is the top priority of these hard earners. Their hopes are the motivation that gives them the power to face the challenges and difficulties of starting from scratch in an estranged land.

What Overseas Need For Money Transfer In The Past?

To send this hard-earned money, many Pakistanis used different systems for money transfer to Pakistan. But people did not find the whole procedure reliable. They thought it was not convenient at all—this frustrated and annoyed person. With the rise of technology, online money transfer was introduced. People sighed relief. There is no doubt that the online money transfer system is doing a great job. People love it, and online money transfer services are improved version and have rectified all the shortcomings of traditional methods. More convenience, user-friendly, easy and straightforward procedure, quick and fast service is a huge blessing.

How Can Money Transfer Account Be Taken Care Properly?

But one thing that should be kept confidential is the password of your online money transfer account. However, one should keep the password strong, so the chances of hacking are lessened. A strong password is a mix of alphabets, symbol and digits. But one should never give out their passwords – even to close friends and family. Bank accounts are directly connected to your online money transfer account. Even if someone calls you and tells you that they are talking from the online money transfer service provider. Do not give out your passwords. Passwords are only meant for you, and sharing them is NEVER a good option.

How A User Faced Issue After Sending Money Online?

Here is a story of an overseas!

Once I received a call from an unknown man, and the man stated that he was my online money transfer service provider and there was some kind of glitch and issue on the service provider. He asked me for my password so the problem could be fixed. I did not respond that much and showed a lack of interest. The person kept calling me and even told me that my account would be suspended if I did not give the password. I got annoyed and asked them to suspend my account as I won’t give my account password in any way. The man never called me again.

After a few days, I talked to my friend, and I told her about my experience. She told me that something similar happened to her, and unfortunately, she fell for the track. She gave out the password. Then she started receiving messages about the confirmation of online money remittance. She thought it was the glitch the man was talking about, and it would be solved and fixed in some time. But the glitch was not solved, and she kept receiving the message. She had to change the password. But she was looted a lot of money, but thankfully she realized it earlier.

I often use different methods of online money transfer to Pakistan but never rely on an unknown service. That is why it is better to keep passwords confidential.