Which is best: Electronic Money Transfer or Paper Check?

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By rhaylagar


Which is best: Electronic Money Transfer or Paper Check?

 

We cannot stop change to take place in our lives. Change is the only permanent thing in this world for it always exists. Technology is not exemption for changes. Primary objective for fast technological changes is to make our lives easy just like electronic money transfer.

I remember those days when I search for money inside an airmail letter of my godmother. You're lucky if you can find one because it is being thoroughly checked in the post office. Money is prohibited to mail but not now in our generation. Money can be send in an instant. In as fast as 2 minutes, your money can fly to other parts of your country or even to other parts of the world.

I worked for almost 4 years in a well-known company that deals with money transfer service both locally and internationally. At first, I have lots of doubts as to the reliability, accuracy and safety of the transfer. But when I learned all about the whole system of money transferring, I can say that it is indeed a recommendable option for both senders and receivers. As compared to issuing paper checks, electronic money transfers do have lots of advantages.

FAST. It is indeed fast service for it can be processed as fast as 2 minutes. No banks can do as fast as this in processing paper checks. Presentation and validation of identification cards are the same.

ACCESSIBLE. Not all banks can processed your paper checks. Mostly, there are designated banks only who can accept your checks. Unlike in electronic money transfer, all agents of the sending branch can do the processing for as long as you have the correct control number and proper identification cards. These agents can be found anywhere for they are located worldwide and they are also open for service everyday even on holidays. Some agents of money transfer are even operational for 24 hours a day to accommodate more clients.

RELIABLE AND ACCURATE. Exact amount either in dollars or local currency can be received without additional processing fee. Only the receiver in person can claim the money and no representatives or authorization is being accepted. Unlike in some paper checks, it can be used by other people even if they are not the one written in the check. In electronic money transfer, a unique control number will be given for every transaction which will serve as your password to process the transaction. In some countries, secret question is required aside from money transfer control number for double security.

SAFE. Hackers and spammers are guaranteed can't accessed the system. It is specially designed with very strict security intended for official processor only. Agent stations like banks also have tight security to assure the senders and receivers safety of their money. Confidentiality of your transaction is also guaranteed that even employees of the agent station were being monitored by the mother station. It is also legal and official just like banks for it is also regulated by Central Bank and other government policies like anti-money laundering act.

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Which will you prefer: Electronic Money Transfer or Paper Check?

  • Electronic Money Transfer
  • Paper Check
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