Money Transfer

Money transfer generally refers to one of the following cashless modes of payment or payment systems:

  • Wire transfer, an international expedited bank-to-bank funds transfer
  • Electronic funds transfer, an umbrella term mostly used for bank card-based payments
  • Email Money Transfer, an online banking transfer between Canadian banks
  • Giro, also known as direct deposit
  • Money order, transfer by postal cheque, Money Gram or others
  • Paypal, transfer by email on Paypal.

It can also refer to the following cash-based wire transfer systems:

  • al-Barakat, an informal money transfer system originating in the Arab world
  • Hawala (also known as hundi), an informal system primarily used to send money to and from the Middle East, North Africa, the Horn of Africa, and South Asia
  • Remittance, transfer of money by a foreign worker to his or her home country

Famous quotes containing the words money and/or transfer:

    “Having money is just the best thing in the world.”
    —Madonna [Madonna Louise Ciccione] (b. 1958)

    “No sociologist ... should think himself too good, even in his old age, to make tens of thousands of quite trivial computations in his head and perhaps for months at a time. One cannot with impunity try to transfer this task entirely to mechanical assistants if one wishes to figure something, even though the final result is often small indeed.”
    —Max Weber (1864–1920)