3. Transfer fees: By law, the company or bank that transfers the money can charge a service fee for the transaction; The price also varies from bank to bank and from service to service.

Using this option, the sender can transfer money online with the assistance of the Internet. Before the money can be transferred, the sender of the email actually needs to set up an account. However, the recipient of the money transfer must actually pick up the cash in person after proving their identity with documents because verification is required. Each transfer is managed by a “money transfer management number,” and the organization keeps track of the senders’ and recipients’ information and documents.