From Wikipedia, the free encyclopedia
Money transfer generally refers to one of the following cashless modes of payment or payment systems:
- Electronic funds transfer, an umbrella term mostly used for bank card-based payments
- Wire transfer, an international expedited bank-to-bank funds transfer
- Giro, also known as direct deposit
- Money order, transfer by postal cheque, Money Gram or others
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
See also: Transfer payment
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