Money transfer

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A money transfer usually refers to a cashless way of paying:

  • Giro, a direct deposit
  • Email Money Transfer, as used in Canada
  • Money order
  • Wire transfer, a term for an international bank-to-bank transfer of money.

There are also cash based systems such as:

  • Remittance, a term used for a foreign worker transferring money to (usually) their family in their home country, often controlled by a small group of companies such as Western Union.
  • al-Barakat, an informal system to transfer money, predominantly in Arab countries and Arab immigrants all over the world