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Web and mobile wallets have greatly simplified financial transactions. One does not have to travel to a bank so that to send or receive money. Everything happens from the comfort of home. With such advancements, it has even become easier to apply for secured loans

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Everything Happens In Seconds

There are many easy ways to transfer money from one point to another. Nowadays, international monetary transactions can happen in seconds. As soon as a transaction is, complete on one end, automatic update of recipients balance takes place. Therefore, one does not have to wait for many days to receive a payment for the good sent.

Mobile Wallets Are Easy To Use

Mobile wallets have revolutionized the payments infrastructure. They have removed many complexities out of financial transactions. Many people are tired of intricate processes involved in facilitating bank transfers and even applying for business loans. What often appeals to most people is a simplified affair that a person can execute with little or no technical knowledge.

The best way to send and receive money fast and easy is by using a trusted mobile wallet. Presently, companies that offer this kind of service are handful. However, as many other financial providers realize the potential of this niche, it is very likely that market players will increase.

Sending money via a mobile device is as easy as downloading an e-book. The major requirement so that to carry out a transaction of that nature is a functional mobile phone that has internet connection. With a smart phone, it is necessary to download the application of the wallet in question. The dashboard of a financial app has many options. Sending and receiving money involves simple key presses that anyone can carry out.

Web Based Wallets

Another way to transfer money easily is by using web-based wallet. PayPal and Amazon are the big names in web payment industry. These two companies facilitate the transfer of millions of dollars every day. In most cases, after logging into a web account, someone will clearly see the option for transferring money to other people. Initiation of a transfer involves specifying an amount and clicking a button. Sending will happen in a blink of an eye. The whole affair is almost instantaneous because of the technology backing up most of these wallets. However, it can take a bit longer if one is transferring money to a bank account. This is because of involvement of third party systems.

How Fast Can Money Transferred to One's Bank Account Clear

When using mobile or web wallets, the speed of clearance depends on the wallet in question and the arrangement the virtual financial provider has with a real financial institution on the ground. The fastest time it can take is one day. In some cases, one has to wait for up to 5 days. According to statistics, square money is the fastest service followed by PayPal.

Nowadays, transferring money is not rocket science. This is because of an array of services out there that have easy to use platforms. Zero paperwork is involved one simply enters figures and clicks a button, and a transaction goes through.