Millions of people across the UK fund their families abroad, with an average of £ 7.7 billion sent abroad each year.
The surge in money transfers has led to an increase in the number of apps available to make it easier to send cash to a loved one quickly and securely.
The biggest benefit is that you can make payments, no matter how big or small, from the comfort of your home or on the go, as you don’t have to locate a suitable bank or post office.
However, as with any modern app, there are a few things to consider when it comes to online security when sending or receiving money from abroad.
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The experts at global cross-border payments provider WorldRemit have put together some top tips for every first-time mailer.
Save your email address
Most businesses need an email address to set up an account. It is therefore important that you protect your email with a strong password to prevent anyone from accessing not only your email, but also all the apps you use through this address.
Strong passwords contain a combination of lowercase and uppercase letters, numbers and symbols. It’s also important to make sure that you don’t use the same password for multiple applications.
Avoid public wifi
While it may seem convenient to connect to public Wi-Fi for a quick money transfer, open access can pose a security threat as unauthorized users can intercept your sensitive personal information or gain access to your device.
It is recommended that you do not log into online banking or money transfer apps, or manage your mobile wallet over a public network.
Instead, the safest way to use money transfer apps on the go, either by waiting for a secure Wi-Fi network to become available, or by using cellular data.
Research the money transfer app before downloading it
Before downloading any mobile money transfer app, try to find more information about the company online. If there’s little to no online presence, stay away from it.
Always look out for the verified “blue tick” next to the company name on social media.
Last year WorldRemit launched a transfer tracker app that allows recipients of money transfers to track their funds. The app can be downloaded for free from the Google App Store in a number of countries including India and Nigeria.
Keep your operating system up to date
If the operating system, Internet browser or applications on your smartphone inform you that updates are available, install them as soon as possible.
Many of these updates fix bugs or vulnerabilities so you can stay safe online.
Use a price comparison tool to get the best deal
The cost of sending money abroad takes numerous factors into account, such as the exchange rate and any shipping charges.
Make sure you use a price comparison tool to make sure you are getting the best deal before making the commitment and sending the money.
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A WorldRemit spokesperson said, “Sending money overseas for the first time may be a daunting task, but it’s easier now than ever.
“With WorldRemit you can send safely and securely in 70 currencies to more than 130 countries worldwide, and that within minutes – as easy as sending an SMS.
“If it’s your first time sending money to loved ones abroad, our customer service advisors are available 24/7 to make your transfer as smooth as possible.”
You can find more useful tips on how to use money transfers safely at www.worldremit.com.
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