How To Ensure Security In Online Transactions

Sending money transfers across the globe is an easy way to help friends or family, send money to businesses, or transfer money to a bank account. However, there are certain countries where security might be an issue in the office or online. Read more to learn how to ensure your transactions are secure when you are sending money abroad.

How Do You Judge Online Security In North America?

You can judge online security in North America based on what you see when you go to a transfer company’s website. The website should have the “https” prefix on the homepage, and that prefix should remain when you are entering your personal information, financial information, and send your transfer. The “https” prefix indicates that are on a secure server. If you do not see this prefix, the site is not secure.

You can check the prefix when you are sending money from a foreign site, and you should go to the bottom of the homepage to find a security seal or badge. A company that uses advanced security will advertise their security software, and you can research the security company before sending a transfer.

If you have concerns about your personal security, you should only send transfers on a mobile device or computer that is connected to a protected wifi signal. Using public wifi could be unsafe.

What About Bank Security Overseas?

Bank security overseas is something that you should research before sending money to a foreign bank or going into a foreign bank. The bank’s website should have the “https” prefix mentioned above. In most cases, every page of the site should be protected by a secure server.

Because infrastructure is lacking, you may feel safe when sending money to these countries. When you want to do an international money transfer in person, you need to consider security protocols that are used in the countries where you are sending money. The same is true if you are going to an international money transfer office.

If you want to send cash to a bank branch or office, you should research crime in the area. A lack of police or law enforcement in certain areas may concern you if you are trying to send cash to your friends and family.

Avoid Cyber-attacks By Using Bigger Banks And Transfer Companies

One of the best things you can do is find a big corporation or bank that can afford to pay for cyber security, especially when it comes to cloud banking core software. Local banks and transfer offices may not have enough money to pay for advanced security software. Plus, these offices may not be able to afford a live security guard.

Third world countries could break down at any time, and it is wise to check the news before sending money. If you see a news story about riots or looting in a city where you are sending cash, you may want to use a different payment method. When you are avoiding cybercrime, you should consider virtual payment companies that allow you to send money between accounts.

Virtual Payment Companies

You can use a virtual payment service to send money from one account to another. If you are using a virtual payment company, the transfer happens within their own system. You do not need to worry about the infrastructure in a third world country, but you do need to know if your friends and family can open an account with this company.

There are several payroll companies and virtual payment services you can try. Plus, these companies often offer a debit card that can be used with their accounts. You will avoid traditional security problems, and the recipient can take cash from an ATM that they deem to be safe.

Conclusion

Sending money transfers to third world countries may be difficult for you if those countries do not have advanced security. You might not want your friend or family member to carry cash around after leaving a rural bank in a dangerous area. Plus, you should check the security programs that are used by transfer companies at home. Read the company’s homepage to determine how much security they use, and check the address bar for the “https” prefix. Change to a virtual payment system to get increased security, or use the safest bank/transfer company.