How to verify the legitimacy of any money transfer service

There are those who are online for crime. Illegal money transfer services and other ways to send funds makes it nearly impossible to prevent money laundering and drug transactions. Unsanctioned channels are also out there because there are scammers who will try to take advantage of the trust that people give them.


Don’t lose money

When a money transfer service is illegal, the funds can be lost forever. Those grey channels, at first glance, might seem to be a lot cheaper. Ultimately, those sending methods are more expensive as the probability that the money will be lost is high.

Illegal transactions

There are ways to send money online that are not legitimate and some payment services that are, but most of these make illegal transactions a lot easier. There are P2P transfers, new online banks, and anonymous payment services. To make it more difficult to detect where the money is coming from and where it is going, people hide the IP address by using anonymizing software and proxy servers.

Using the blockchain

When it comes to sending money without a lot of regulations or protection, a lot of scammers hide behind the credibility of the blockchain system. They can come up with e-wallets, exchanges, and even trap those who unwittingly invest in the tokens. When it comes to those online for criminal activity, they also choose to use the channels for the volatile forms of money like Bitcoin and other cryptocurrencies. Though to use the blockchain doesn’t provide total anonymity, enough transactions can be made to hide the trail

Hawala money transfer system

There is a money transfer system that has been around since ancient times. This is known as Hawala, which directly translates to moving money without it moving. Hawala as a money transfer system is illegal in many countries.

Choose a legitimate company

Legitimate money transfer services are licensed by the government. These adhere to regulations and protect their customers. Authorized money transfer companies typically have a website, mobile site, and an app. Their branches and agents are located worldwide. Their offices are not located in dark places or off the beaten track and have normal office hours. There are some legitimate branches and agencies that are open 24 hours.

Transparency check

As a customer, you have the right to know the necessary details. Legitimate money transfers, be it online or offline, will inform you of remittance time, transfer fees, and other related fees, if there are any. When the money transfer service is illegal, there is no transparency, making it impossible to protest about any concern.

Online money transfer service 

When you want peace of mind, look for a legitimate money transfer services company. For easier remittance, you might prefer to go online. There is a company that has advanced payment solutions for both international and local money transfers.

Send money for free

The options that you have with this money services company encompasses nearly all kinds of transfers. Their services include that for bank-to-bank, wire transfers, card funding, and P2P app transfers. With the use of their app, you can get to send money for free.