21st Century: Why does anyone still do money transfer between banks?

21st Century: Why does anyone still do money transfer between banks

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Things are not the same since the last century because of globalization. Before we used to do money transfer between banks now we can do this at the click of the mouse. Before when we used to ride in carriages, now we have high speed cars. Before we used to call an operator to connect to a telephone line, now we not only od we have the telephone that connects directly without the use of a telephone operator, we have cellphones than uses the touch screen, the latest buzz in the cellphone technology. Money transfer between banks are not the only things that has been improved by information technology. Businesses all over the world has also boomed because of such development as a necessary collateral development as it made easy the transfer of money from the service client to the service provider. It also allowed people to buy merchandises abroad at a very cheap price since they purchase from the direct seller.

The new young adults population these days may not know how to transfer directly from bank to bank. Money transfers between banks have proven to them quite a hassle. First, you have to ask your service provider if what bank does he use and then you have to check whether your bank deals with their bank. Second, you have to ask for the long bank account number. He has to also ask what branch is the nearest to where the service provider is located. Fourth, he has to ask for the complete name of the bank account number. Finally, to ask whether or not such bank account is a checking or a cash bank account. All those details are necessary to be able to make a successful money transfer between banks and though it is still around right now it's not highly favored anymore between overseas clients or buyers. It would be good if their service providers or sellers have the information ready but oftentimes they don't. It takes too long for them to get that information and when they get it wrong, it's back to square one.

There was this one girl who gave us interesting story about this particular situation. She works as a content writer from India. She was dealing with overseas clients for a while now and they don't usually do money transfer between banks. Then she had this client who preferred the old method and to make her situation more difficult the client asked her to make an account with a bank she didn't have a previous transaction with. So to make the long story short, she got her money for her services a week later she has delivered. Money transfer between banks take a lot longer than usual.

On the other hand, in the 21st century, money transfer between banks has been made easy because of online money transfer. If you don't have an account between banks it's not a problem because there are third party pay-forwarders for that job and you don't have to make another account. All that is needed is your email and your money gets delivered to you straight to your bank account. Money transfer between banks are good and secure but online money transfer is easier and more modern so get into the trend!

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