How to make money by transferring electronic money. 1. Create an E-Wallet

How To Send Money - How To Transfer Money Online | Skrill

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You probably use EFT all the time -- it's simply a completely electronic way of transferring money from one bank account to another bank account. Data is exchanged; paper money is not.

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Using a debit card at a store transfers money from your checking account into the store's banking account. Direct deposit payroll moves money from your employer's bank account into yours.

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Both of these transactions are examples of EFT, and so is online money transfer. But online money transfer is distinctly different from EFT -- this is not about a way to pay your bills over the Internet.

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Online money transfer is the modern-day equivalent of wiring money: You can send someone money instantaneously simply by transferring money or the data that represents that money from you to another person. Usually involving little more than contact information -- such as a cell phone number or an e-mail address -- for the sending and receiving parties tied to a bank account, online money transfer can be done for a small fee from a secure, Web-based service via any computer with Internet access.

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There's no need to go to a money wiring office, telegraph station or even a bank. Advertisement Advertisement.

  1. Check with local institutions for details.
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  3. 5 Best Ways To Send Money [#2 Is Free!] – Forbes Advisor

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