Sending Money Would Just A Email?

Discussion in Bank Accounts started by realriightty • Aug 8, 2017.

  1. realriightty

    realriighttyNew Member

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    EMAIL TRANSFERS

    How do you guys feel about sending money through e-transfer system? As far not having to fill out so much information and just using a email, I have to say that's amazing. A nice known factor about using e-transfer is that you could collect money that someone sent you less then 5 minutes. I also believe you can send as low as $1 without worrying about fees. E-transfer is a connected add on to your bank account. So yes that means you would be sending money straight out and from your bank account. Since this feature is tied with your bank account, you could easily do it just from your bank mobile app.
     
  2. morgoodie

    morgoodieActive Member

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    I haven't sent money in this way before. I didn't actually know that you could. I have only sent money by way of PayPal and didn't have any fees attached to it. I trust PayPal and had no problem with it. The person received the money in a short amount of time and was able to use it right then. I probably wouldn't have a problem sending it with an e-transfer either after I found out more about it.
     
  3. Jamille

    JamilleActive Member

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    Are you talking about online banking? Electronic transfer is just one of the features of online banking along with bills payment and mobile phone reloading. It's free of charge as long as you're sending money to an account holder of the same bank. Before you can send money to anyone, you'll have to register the other person's account and confirm the registration either through a branch visit or through an ATM. That's for security purposes. I never use my smartphone or a smartapp to do online banking. I prefer to do it through my laptop which has a strong anti-virus and anti-malware program.
     
  4. realriightty

    realriighttyNew Member

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    @Jamille@Jamille Im talking about sending money through a simple email, its just something you sign up for threw your banking online account. All you need is the person email and you could send them money right from your phone or computer.
     
    #4Aug 10, 2017
    Last edited by a moderator: Sep 5, 2017
  5. harijobs

    harijobsActive Member

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    I have this facility but haven't yet tried it out. Only recently I got this feature and yes it is very simple and easy way to transfer money directly from your bank account. I hope I will use this service soon.
     
  6. Krissttina Isobe

    Krissttina IsobeWell-Known Member

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    No I haven't heard about it. I just got a Western Union account for money transfers. Guess this is a benefit from your bank? My bank has not benefit like this, yet. This is the first I've heard of this type of transfers as well as paypal services for sending and receiving money. Is it from your bank that you can transfer money so quickly?
     
  7. luckycharm

    luckycharmActive Member

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    I haven’t heard of it yet. I think this is not popular in our country. We still use online money transfer through bank accounts only. But this is a good idea as email ID is the unique ID of a user. Like in PayPal we can use email for money transfer.

    I heard that it is possible through Google Wallet. It’s totally free to send money using Google Wallet balance or credit/debit card linked to Google Wallet. But it’s now open for US and UK. In fact you can send and receive money through Google Wallet even with a non-Gmail ID.
     
  8. luri

    luriActive Member

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    I use online banking service as well as SMS banking. In order to avoid an authorized transaction, I have registered my email and phone number with my bank account. Usually, I don't transfer money just by sending email unless I am using paypalor other payment processor. When I am banking, I go to the official site of the bank and log into my online account. This is a safest way for fund transfer.
     
  9. overcast

    overcastActive Member

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    There are plenty of wallet systems out there. So you basically store money like paypal or Amazon pay. And then such money is being used for the payment online. As of now not much is being done with such wallets. But if those wallets are to be used for the money sending to banks. Then such fund transfer options would surely become more popular. I for one would love to adopt to them.
     
  10. Jamille

    JamilleActive Member

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    @realriightty@realriightty This is a standard online banking feature, and I've been using it for years. Why type up an email to send money when one can simply transfer money though the online facilities by simply clicking on the recipient's name, typing the amount, and clicking on the transfer funds button. I don't even have to fill up a form to register the recipient's account. I can enroll and activate the enrollment through the ATM without going to the bank. Paypal and other money wallets are even easier to use for transferring funds as you only need to type the receiver's Paypal email to send money.
     
    #10Sep 4, 2017
    Last edited by a moderator: Sep 5, 2017
  11. TheOtherSide

    TheOtherSideActive Member

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    I haven't heard this system before but it seems very much like Paypal but the only difference I guess is that you own it meaning you are worry free of someone or some entity having to kick you out from your own account with all your funds in it. I think it's a better system because as I say it's your account, it's your money and there's no better way to handle your own transactions than you yourself without having to worry about high fees.
     
  12. kaka135

    kaka135Active Member

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    I have not heard about this service and not used this before. I only used bank transfer where I need to enter one's bank account number, or PayPal transfer using the PayPal Id. I guess it is more convenient if we only need to remember one's email address, rather than the long bank account number. I will check out if my local bank provides this service. Thanks for sharing.

    If one's email address is attached to a few bank accounts, can we select which bank account to transfer the money to?