Money Transfer ?
Money transfer is basically refer to one of the accompanying cashless methods of below mentioned installment or installment system:
- Electronic fund transfer , widely used term for bank card payment process
- Wire exchange , a worldwide assisted bank-to-bank reserves exchange
- Giro , otherwise called direct deposit
- Money order , transfer by postal check or others ways
In todays date many bank allows to transfer money via internet banking like here how SBI offer fund transfer to their consumer.
Rather, Money Transfer is a protected correspondence between two gatherings (banks) .
The correspondence determines that the record of the collector at the getting bank must be credited by the sum sent, and, in the meantime, a similar sum must be taken out from the sender’s record.
Basically sending money from one account to your beneficiary account via any medium is you can say money transfer and today’s date there are many medium available you can use to send money .First and basic method is using bank to transfer money then net banking and other convenient option is using money transfer agencies who charges very low amount of fee and transfer your money instantly.
There are many money transfer agency available in Mumbai who help you to transfer money anywhere in India at lowest cost.