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:
“As to your kind wishes for myself, allow me to say I can not enter the ring on the money basis—first, because, in the main, it is wrong; and secondly, I have not, and can not get, the money. I say, in the main, the use of money is wrong; but for certain objects, in a political contest, the use of some, is both right, and indispensable.”
—Abraham Lincoln (1809–1865)
“If it had not been for storytelling, the black family would not have survived. It was the responsibility of the Uncle Remus types to transfer philosophies, attitudes, values, and advice, by way of storytelling using creatures in the woods as symbols.”
—Jackie Torrence (b. 1944)