Banking and non-banking institutions are constantly working to enhance our convenience. So their efforts have taken currency exchange to the next level by bringing the technology of currency exchange right in to our personal environs using internet as the medium. Popularly known as online currency exchange, this process enables us to use our own personal computer to send money to our family’s bank account with just a few clicks. The source of the funds can be our bank account, debit or credit card. Money2anywhere.com, the online currency exchange in Bangalore portal from UAE Exchange, falls under this category. Here too the sender’s and receiver’s identity is known and tracked, ensuring safety and transparency of the transaction.
Currently the organised remittance is being carried out, across the world, either through bank transfers, instant currency exchanges or online currency exchanges. But technology is always on the look out for improving itself. Hence now mobile phones are being used to transfer money. Though the process is at a very nascent stage, it is slowly but surely on the rise. Soon we will be able to use our own smart mobile phones to send money across borders.
Each of the above mentioned ways of transferring money, are safe, thanks to our sound financial system in place. But vested interests are constantly looking for an opportunity to misuse the financial system for their personal gains. By cooperating with the financial institutions, we, as responsible citizens of this world, can help in making the currency exchanging transactions more safer and transparent, thus strengthening the system and empowering the world economy in our own small way.