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Tip of the Day Avoid Payday Loans

Avoid Payday Loans - Unless it is an extreme emergency and you are in a crisis, avoid payday loans as they charge exorbitant interest rates and administration fees. Not...

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Credit Card Money Transfer

If you are thinking of a money transfer credit card and what it means, you might be thinking about transferring a balance from one credit card to another. But while this could be what some people refer to in this way, there is another more useful meaning to it as well.

Basically a money transfer is a way of sending money to someone else, usually in another country. It could be a friend who needs some cash, it could be a relative who is living or staying abroad for a time, or it could be someone else. The point is that if you have the right credit card you will be able to send this kind of transfer without any problems at all.

You get the card and send it to your friend or relative. When they receive it safely they get you to activate the card so that it can be used. This is good for security because it means that even if the card is lost or intercepted by someone else, it can't be used because it is no good to them.

It is then up to you how much cash you want to put on the card. But whatever you add to it can then be taken out by your friend or relative wherever they happen to be staying.

As you can see this is a superb way of getting money to someone who needs it, without having all the hassle of transferring it and trying to figure out where it needs to go to. Most money transfer credit cards also have the facility to allow additional top ups whenever they are needed, although you would need to check your individual card to see what the exact terms and conditions of usage are.

It's clearly aimed at a specific portion of society though, and young people in particular would benefit greatly from the service. For example many youngsters go abroad to study for lengthy periods, and this is a good way to make sure they get some cash when they need it. And of course there are plenty of other worthwhile uses too.

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