How different methods of money transfer differ

We all deal with wire transfers in our daily lives when we transfer money from one of our accounts to another person’s account. This is why it is also called a wire transfer tool. It is the transfer of the balance amount from the transferring party (debtor) to the recipient.

But there are some differences between money transfers. there may be many different reasons why you might need to transfer money to another account. It can be a gift, financial assistance, payment for a purchase, or payment for utilities.

Transferring directly to a bank account, including a free online account, involves a number of advantages over conventional money transfer methods. After all, you won’t have to stand in line at the bank.

Moreover, it is a reliable and secure process that implies the complete protection of your personal banking details.

Types of money transfers

The most common is through a bank. There is no limit on the amount, but if the banks are different, a fee is charged. A free online account gives you the opportunity to make transactions without commission using online banking. You don’t have to go anywhere, everything is filled out and opened online.

The virtual card is not yet widespread. People who need it primarily for online shopping may find it useful. Therefore, you should apply for a virtual card, especially since it is reliable and instantaneous.

A virtual debit card is a prepaid credit card that is issued without physical plastic. It contains all the important data. Suitable for people who cannot apply for a regular credit card because of a negative credit rating and only need to make payments for online purchases.

If you want to pay with it outside the virtual world, you can choose from a variety of conventional prepaid ones.

Advantages of WestStein money transfers

the WestStein prepaid card offers a host of benefits when transferring funds from one account to another. With a free online account from the service, you can shop, make payments, and transfer your funds to other accounts without being tied to your location.

When traveling to other countries, you no longer need to withdraw money from ATMs and carry it to exchangers. All your money is instantly converted into euros and vice versa if you pay or transfer money.

The WestStein prepaid card has a number of perks that are worth noting:

  • full cost control – holders are always in full control of costs. This eliminates the risk of falling into a debt trap;
  • security – since it does not exist physically, it cannot be stolen;
  • short waiting time – it is quick and easy to apply online. After registration customers receive the data and can transfer money immediately.

Ordering a prepaid Mastercard means stepping in step with modern times and freeing yourself from paperwork by controlling everything online. Whether you go shopping or travel, you are independent and secure at the same time – because you only spend the amount you previously debited through a standing charge.

Thus, you retain full control over your expenses and at the same time receive all the benefits of cashless payment. All over the world, wherever Mastercard is accepted, you can pay – in shops, for t trade, or by post.