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Money transfers: their types and how they work

Sep 17, 2021

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Money transfers: their types and how they work

Digitalization has a beneficial effect on all spheres of human life. Today, it is possible to solve financial issues without leaving one's apartment, which significantly saves personal time and effort. Besides, thanks to various services, it is possible to send money not only within Ukraine but also to other countries quickly and safely. Money transfers: their types and how they work, we will talk about this below in the article.

money transfers from WestStein

Types of money transfers


To find the best rate for transferring your finances, we recommend opening a free online account. WestStein transfers money through the following payment systems:

  1. "Western Union" - the transfer is carried out through a computer network, the service allows sending funds abroad in US dollars, as well as receiving them in foreign currencies, including euros. Besides, Ukrainians can make domestic transactions in hryvnias. Advantages - there is no address binding and the possibility to receive money in a couple of minutes after sending it.

  2. "MoneyGram - the system is often used by tourists and migrant workers. It allows you to send and receive currency (dollars, euros), besides, finances can be sent without opening an account and certain details. To receive it, you only need to know the transaction control number.

  3. "RIA Money Transfer" is the third most popular global system, the youngest, which has similar characteristics to its predecessors.

  4. "Welsend" - transfer of money, in currency hryvnia, dollar, euro, ruble, is carried out on the territory of Ukraine and beyond its borders: Georgia, Armenia, Tajikistan, Moldova, Greece, Israel, etc.


Mastercard Money Transfers


Make p2p fund transfer easy and fast, all you need is a WestStein prepaid card. The convenience of the service is that funds can be transferred at any time of the day, regardless of the day of the week. With our virtual debit card you can make transactions online and save the sender's time as well as money. You will not incur any significant commission, therefore virtual transfer will become a "useful habit" which will come in handy in any emergency situation.

The virtual card also serves as a means of security - there will be no cash in the wallet, so you don't have to worry about its loss or theft. At the same time, the card with the funds is available only to the client, so the finances will not get to lawbreakers in any way.