Internet Money Transfer

With different currencies globally, money Transfer and money Exchange remained complicated methods for years. Earlier, people had to go through a boring process for money related issues - filling forms, signing the forms, approving the forms, and biggest inconvenience was the Time spent for. The advent of Credit Card and Internet have generally ameliorated this issue at great length. However, the credit card use has remained a status symbol confined only to the socioeconomically well-settled, famous, or/and wealthy people.

Now, the Internet is widely used by all folks everywhere. Internet has turned the world into a small world-village by bringing people closer and closest. Use of money is an obvious and essential necessity; so, thus, there came into existence the "Internet Money Transfer." There are many sites already in use and many others are in the pipeline. Three of them are becoming popular and successful presently.

PayPal : Use of any E-mail address for Money matter is the concept behind PayPal. You can send and receive money from anybody who has at least one e-mail account; it does not matter whether or not that person or party has a PayPal account. When you send or request money through an e-mail address, that particular e-mail addressee will be notified by PayPal about your transaction. Consequently, the e-mailed people will have to either accept or decline as a response; if accepted, you will have received or sent money successfully. That money will be added or deducted in your PayPal account instantly. However, withdrawing money to a bank account or a card, or through a check takes time and is comparably slow at PayPal. PayPal is the most popular and widely used as an online payment option by the freelancers, bloggers, and outsourcing companies. People also use PayPal to enjoy online Shopping.

e-gold : Use of Gold as Money is the concept behind e-gold that uses an electronic currency named "e-gold." Unlike others, e-gold utilizes this currency and not the USD or any other national currency. This currency is 100% backed by Gold, and is accounted by weight of metal. Gold is the gold world wide; thus e-gold currency becomes "world wide money." Transaction is possible only between one e-gold account to another e-gold account. More and more Independent currency exchange services prefer exchange between the national currency and e-gold.

WESTERN UNION : Money Transfer within Minutes is the concept behind Western Union. When this is said, it means an actual availability of money in a physical form and not just electronic form; i.e., money can be transferred within minutes from one customer’s hand into another customer’s worldwide. Moreover, this is possible without a need of any bank account. How much this may sound unbelievable, but the fact is that there are numerous agent locations spread throughout the world. In big cities, they are as many as the Bank ATMs; you can choose anyone as per your convenience. Presently, there are over 310,000 agent locations operating worldwide involving 200 countries and territories. Nothing surprising if Western Union becomes number one payment option in a near future.

Must follow the links shown within the article for further information; here is a brief introduction only.