Online Fund Transfer
An online fund transfer is a way to electronically move money from one account to another over the internet. There are several ways to perform an online fund transfer:
- Bank-to-bank transfer: This is a transfer of funds between two bank accounts, using an online banking platform or mobile app. To make a bank-to-bank transfer, you will need the recipient’s bank account information, including their account number and routing number.
- Electronic Funds Transfer (EFT): This is a type of bank-to-bank transfer that uses the Automated Clearing House (ACH) network to move funds between accounts. EFTs can be initiated online or by phone and are typically used for recurring payments such as bills or payroll.
- Third-party money transfer services: These services, such as PayPal, Venmo, or Zelle, allow you to transfer funds from your account to another person’s account via their app or website.
- Cryptocurrency transfer: This is a way to transfer funds using digital currencies such as Bitcoin, Ethereum, and others. You can transfer funds from one digital wallet to another.
All these methods may have different fees, security measures and the time it takes for the money to be available in the recipient’s account may vary, so it’s important to check the terms and conditions before making a transfer.
RemitM is registered with the Information Commissioner’s Office (ICO), the UK’s independent authority set up to uphold information rights in the public interest.
All clients’ funds are held in a dedicated client account separate from RemitM’s funds, in line with our regulatory framework and consistent with good practice.
We earn no interest from holding client funds, as your payments and transfers are not held by us and are remitted to recipients upon receipt.
Your data is transmitted in a secure way and all password data is encrypted.