The term Money Transfer means transfer of money from one person (or institution) to another. Today, money is transferred predominantly by electronic means. Money transfer services are offered by banks and some retail Payment Service Providers like Xpress Money and Western Union.
Mobile phones can be used for carrying out the following types of funds transfers (in addition to a whole host of other financial and banking functions): 1.Transferring money from one account to another, even internationally. 2.Transferring money to retailers, for payment of goods and/or services. 3.Transferring money to other mobiles.
Send Money from Australia - Every year a sizeable amount of money is sent to the Philippines from Australia and various modes of money transfer are used for this purpose. Depending on where one wants to send money in Philippines, how fast they want the money sent, and the transfer fee involved, the choice of modes differ.
Send Money to India - There are essentially three basic categories of people who send money to India: An investor who wants to invest in India, a relative who sends home money occasionally and the overseas job holder who sends a regular payment on a continuous basis.