Online fraud is rife. Most people have experienced some level of it in their everyday life. It could be someone clearing out their bank accounts or very convincing phishing emails trying to tempt you to “log in” to your online banking, Amazon account, or other secure websites to grab your details.
In fact, in April 2021, reported cases of online fraud had increased by a huge 33% in the previous 12 months. And then some cases weren’t reported at all. Online money transfer is growing by the day because it’s convenient, quick, and easy. But is it safe?
It can be safe, but only when done through trustworthy money-transferring apps like Paypal. One of the most important areas to protect yourself in is sending money to other people. But how exactly do you do that? This article will explore how you can ensure your funds and personal information are safe when transferring funds to others online.
Protecting Your Sensitive Information
Unless you go into your bank to send money, you probably use a smartphone or a computer. If this is the case, then there are some steps you need to take to ensure your details are safe.
Identity theft is a huge problem in modern society, as fraudsters attempt to grab people’s information to access bank accounts or even purchase items online using other people’s retail shopping accounts. An estimated 91% of identity fraud cases occur online, so it is crucial to protect your information where possible.
To do this, ensure you do not attempt to do these kinds of transactions on a public machine (such as at a library) or a public wi-fi connection. These connections can be vulnerable to hackers, so you should always make transfers via your bank’s checking desk if you do not have access to your own device and a secure private Wi-Fi connection.
Secondly, ensure that if you are using a computer, you have up-to-date anti-virus software. Installing trustworthy Antivirus software can help upgrade your data cybersecurity considerably. This will ensure your personal data is protected from malware and spyware attacks.
Also, Read How To Add Money To PayPal Without A Bank Account
The Best Way to Send Money Online
In addition to the above, selecting a way to send money is also very important. Bank transfers are a good option as banks have a good level of security within their systems; however, other ways offer additional safety features.
PayPal, for example, offers a money-back guarantee on purchases. So if you are paying for goods, this could be a good option for you. However, the guarantee only applies to payments for goods with a clear sales page, and the item either has not arrived or was misrepresented.
Ria Money Transfer is also a fantastic option if you send funds to people you know or pay for services rather than goods because it allows you to send in multiple ways and track payments every step of the way.
Also, Read How to Add Friends on Venmo | Just 4 Steps to Recieve Money!
In 2023, ensuring your data and money are safe when making online payments is more important than ever. With this in mind, you should first protect your hardware and then ensure you choose a safe way to send your payment. For more information, visit Path of EX or leave a comment, and we’ll get back to you!
Author Bio: Tricia Lee is a contributing writer at Sparkwebs, a Digital Marketing Agency. When she’s not writing, she loves to travel, dance, and read non-fiction.”