You and some friends go out for dinner. When the bill comes one friend decides to grab it and tells everyone else “Just e-transfer me what you owe.”

Today, it is more common and efficient to send friends, family members and coworkers money through our mobile devices. The efficiency of a mobile money transfer is in high demand and the banking industry continues to improve their mobile and online security to help keep the customer’s funds safe. As banking becomes more convenient a person should still be vigilant in where their money is going.

Here are some helpful tips to be mindful of when hitting “send” on that money transfer:

1. Have your friend send you a request for payment first
2. Double-check spelling on recipient’s name and amount
3. Know when to expect to receive transferred money or when it should leave your account

 Find more information here:

https://www.fdic.gov/consumers/consumer/news/october2019.html?source=govdelivery&utm_medium=email&utm_source=govdelivery