Simplify your payments with safe and secure Money Transfer apps
The way we manage financial transactions has entirely changed in the aftermath of the coronavirus pandemic. From small and big grocery shop owners to service providers and retail vendors, everybody has started accepting digital payments instead of cash and bank cards. Whether it is about transferring funds to friends and family, making online bill payments, or paying for your cab ride, all you need is a smartphone and the right Money Transfer App.
A Money Transfer App is a platform that allows you to conduct financial transactions via digital or online modes without the involvement of any physical exchange of money. Both parties, the payer and the payee, use electronic mediums to exchange money. You can securely transfer money to anyone you want, domestically and internationally, using Money Transfer Apps.
A mobile wallet is a digital version of a physical wallet where you can load money to buy different services and products. You can use a digital wallet on your internet-enabled smartphone by simply downloading the application from the iOS App Store or Android Google Play Store. After entering essential information like your name, credit card or debit card information, you can start using your mobile wallet. This mode of money transfer can easily replace both cash and cards as it allows you to make payments with a single tap.
Unified Payment Interface (UPI) has made sending funds from one bank account to another with your mobile phone an easy task. In this payment method, you can initiate direct bank-to-bank payments via mobile apps. You can transfer money via UPI by entering the Virtual Payment Address (VPA) of the receiver, their phone number, account number and IFSC code or by scanning a QR code.
The best Money Transfer Apps have the following features:
You can freely download most of the best Money Transfer Apps. The money transfer fees depend on your chosen mode of transfer. For international money transfers, you need to monitor currency exchange rates and bank fees.
Download digibank by DBS and leverage the ibanking platform to send money overseas in a hassle-free way.
*Disclaimer: This article is for information purposes only. We recommend you get in touch with your income tax advisor or CA for expert advice.