Introduction
Have you ever wondered how money was sent from one person to another in the olden days? Back then, people had to use telegraphs to transfer funds to another party, with the USA being the first to send a monetized telegram.
Now, technology has given rise to various channels that enable people to send money quickly and conveniently. One of the most popular ways today is using money transfer apps, which allow users to send funds domestically and internationally. For many Filipinos, money transfer apps are a mainstay on their phones as this technology enables them to accomplish various financial transactions, such as paying bills and purchasing mobile load.
If using money transfer apps is still pretty new to you, don’t worry! You’ve come to the right place. In this guide, we will explore how money transfer apps can benefit you and discuss their essential features. We’re aware that there are multiple options for you to choose from, so we’ve gathered several tips to help you select the best money transfer app in the Philippines.
Benefits of Using Money Transfer Apps
There are several benefits to using money transfer apps. Here are some of them:
Convenience
Convenience is one of the primary reasons numerous Filipinos use money transfer apps. With this technology, you can send funds from the comfort of your home with just a few clicks as long as you have a stable internet connection. You can also do this anytime, and there’s no need to worry about opening or closing hours. Some apps even allow users to send money internationally online, so that can be a big plus.
Speed
The great thing about sending funds through money transfer apps is the speed of the transactions. In just a minute, the money you sent will be reflected in the recipient’s account, provided there are no problems with your account or Wi-Fi connection. Quick transfers are especially useful during emergency situations when a friend or a loved one needs money urgently.
Transparency
Money transfer apps provide a transparent means to conduct financial transactions. The app gives users electronic receipts that include important details, such as the sender’s name, the recipient’s account details, and the time of the transaction. Money transfer apps also keep a record of past transactions for users to refer to.
Essential Features of the Best Money Transfer App
What are the key features found in the best money transfer apps in the Philippines? Take a look at some of them below:
App Security
More of a necessity than simply a feature, robust financial security measures are embedded in money transfer apps to protect users’ personal data and funds, especially from hackers. Two-factor authentication, one-time pin (OTP), scheduled password changes, and session time limits are some of the most common security measures used by money transfer apps.
Money Tracking
Money transfer apps have a money-tracking feature, allowing users to monitor their transactions. For instance, a text message or an email is usually sent to the sender to inform them that the money they transferred was successfully credited to the recipient’s account. Additionally, money transfer apps provide a transaction history showing the summary of all the financial activities conducted using the app.
User-Friendly Interface
User experience is essential to people when sending money to their loved ones in the Philippines online. Thus, the best money transfer app will have an intuitive interface. In other words, navigation should be relatively effortless, and frequently used programs are easy to spot. Moreover, a user-friendly design is important to accommodate the elderly who may also need the app.
Customer Support
Despite having a user-friendly design, money transfer apps may sometimes encounter problems when completing transactions. This is where customer support, in the form of online chat, email, or phone calls, comes in handy. In the absence of such a feature, you may refer to the FAQ section of the app to find quick answers to your questions.
Choosing the Right Money Transfer App
With the number of money transfer apps available to download for free today, how do you pick one? To help you, check out these tips Cebuana Lhuillier has listed for you:
Read Reviews From User
Before using a particular money transfer app, it’s a good idea to find out what other people say about it. Reading reviews is a great way to learn about the experiences of people who have used the app, such as what they liked and didn’t like about it. Some reviewers even leave useful tips on how to maximize the app.
Mind the Transfer Speeds
Determine how fast the app can send money. Delayed transactions can be quite inconvenient for users in many circumstances, including emergency situations. Quick money transactions are vital during such critical scenarios.
Learn About the App’s Features
Take note of the essential app features discussed above and make sure that your preferred money transfer app has them. Be especially particular about the app’s security measures to ensure your money won’t be at risk whenever you make a transfer. In addition, check what else you can do with the money transfer app besides sending funds. For instance, if you frequently travel abroad, see if it includes a feature that’ll allow you to quickly check exchange rates.
Determine How Secure the App Is
Again, take note of the app’s security. Sadly, cybercrimes are becoming increasingly sophisticated, resulting in money being successfully stolen from unfortunate victims.
In addition, you must learn to do your part in keeping your account secure. For instance, keep your personal information to yourself, do not immediately click on links sent to you via SMS or email, and verify the identity of people asking you for money.
Download the eCebuana App Today!
Did you know that Cebuana Lhuillier also has a money transfer app known as the eCebuana app? It’s a safe and highly convenient app that allows users to transfer money to and from their micro savings accounts to other micro savings accounts. Bank transfers are also possible through Instapay.
How about the people who do not have micro savings accounts? How can they receive the money you send via the eCebuana app? Don’t worry! The money you transfer can be picked up at any Cebuana Lhuillier branch with a 20% discount on fees.
But what if you plan to open a micro savings? You can use the eCebuana app to register an account! Simply download the app and then click “Register Now.” Input your personal details and provide a valid ID—you can check this list to see what IDs are accepted. Answer the customer Risk Profiling and then wait for the email to verify your account.
Did you also know that the eCebuana app is not just for conducting online money transfers to your loved ones in the Philippines? We designed the app to enable users to access our micro financial services, such as bills payment, e-load services, and Micro Savings.
But what about our kababayans abroad who wish to carry out international remittances to the Philippines? Cebuana has partnered with an expansive list of trusted international remittance partners, some of which allow Filipinos abroad to send money directly to the eCebuana app of their relatives here in the Philippines.
FAQs About the Best Money Transfer Apps
Is It Safe To Use Money Transfer Apps?
It is safe as long as the money transfer app you use implements various security measures. Moreover, you should understand that the security of your transaction, be it a local or an international money transfer to the Philippines, also depends on the sender. In other words, make sure you do not click suspicious links and only transact using reputable platforms or channels.
What Is the Best Money Transfer App?
The eCebuana app is one of the best apps to send money to your loved ones in the Philippines due to its security, user-friendly design, and speedy money transfer services. You can also use it to pay bills, get e-load, and check your account balance, among other services.
Where Are Money Transfer Apps Downloaded?
This will depend on the type of phone you’re using. Android users can download money transfer apps on Google Play, while iOS users can do so on Apple’s App Store.
Conclusion
Using money transfer apps in the Philippines makes it possible to accomplish different financial transactions safely and conveniently. Just remember to take note of essential features, read user reviews, and be mindful of various security measures when choosing a money transfer app.
Cebuana Lhuiller’s eCebuana app is used by thousands of Filipinos to send and receive funds anytime and anywhere, empowering them to take control of their finances more efficiently. Download the eCebuana app today!