If you sell products or provide services, whether physically or online, you need several ways to receive quick and convenient payments.
Sometimes a friend or family member may want to send you a bit of cash to tide you over a rough patch.
A few decades ago, receiving money from thousands of miles away was a bit of a headache. Today, you can have money in your account or cash in your hands in a matter of minutes without even leaving your house.
However, while they enjoy this convenience, people rarely want to risk their personal and financial security.
So, in addition to seeking the quickest and convenient money transfer options, most people ask, what’s the safest way to receive money?
Other sources may suggest otherwise, but the safest way to receive money is through an electronic funds transfer, directly into your personal account. With your money safely tucked in your bank, both you and the cash remain safe.
Still not convinced? Let’s explain how we came to this conclusion.
Cash Payments
When it comes to selling physical products in the US, the phrase “cash is king” can’t be any truer. In general, accepting cash is the surest way to ensure that you get full payment for your products or services. If you run a thriving business however, keeping a lot of cash at your premises makes you a target for theft. While cash payments make sense for small transactions, you wouldn’t want to keep or walk around with thousands of dollars on-hand unless you have to. To stay safe, you need to regularly place cash payments into your bank account.
Digital Transfer Services
Companies such as Cashero now often offer some of the highest forms of online security, along with fast transfer times and low fees. With Cashero you pay no fees for any personal transfers, and they take place instantly. When it comes to security, Cashero stores your account details to minimize user-input error, and also uses one time passwords (OTP), as an extra layer of security to avoid fraudulent transactions.
Electronic Funds Transfer
Virtually every bank in the US allows customers to send and receive money using an electronic funds transfer (EFT). Traditionally, you would have to visit your local bank to send or receive money via this method. Online banks and financial institutions, however, now allow their customers to initiate EFTs online.
You can also receive money quickly and safely via an electronic funds transfer. You simply have to provide the sender with your account number and bank routing number. The silver lining is that you can receive large sums of money without overly exposing yourself to unnecessary risk.
Conclusion
Sending and receiving money is now a quick and hassle-free affair, using numerous money transfer services. While most people tend to focus on speed, convenience, and cost of transferring money, it’s vital to also consider security. With Cashero your money transfers are secure. Trust us to get your money where you want it to be, the moment you need it there.
Content Disclaimer:
As of the date of publication, the information contained on this page is deemed to be factually accurate for all terms of conditions, features, and fees. Changes made to Cashero’s terms of conditions, features, or fees after the publication of this content may not be accounted for.
App Disclaimer:
The Cashero App is now available for download in both the Apple App Store and Google Play Store, though not all features are currently functional. Cashero has not yet officially launched.
