5 things you need to know to send money safely

Table of contents

1. Data protection, access and encryption

Before choosing a payment institution for your money transfers, it is essential to ensure that it uses a powerful and robust encryption system. How do we check this? You must look at the address bar at the top of the screen and confirm that the URL follows the “https” protocol and that the icon of a padlock appears on the left, that is the security certificate. This would confirm that it is a secure or legitimate page. Once you have checked that you are navigating a secure page, it is advisable that you choose a unique, long password, alternating lower and upper case letters, as well as numbers, signs and spaces, when you register with a username and password.

For your maximum protection, at Moneytrans we have an advanced technology allowing to encrypt all transactions and all data concerning you. Besides, our web, follows the “https” protocol and has a security certificate. Check it out!

Your personal data will not be, in any case, used for other purposes than the execution of the service without your previous knowledge and authorization. Any client may exercise their rights of access, rectification, cancellation and opposition to the processing of their data by writing to us in the legally prescribed manner.

At Moneytrans, the access codes to our website are strictly confidential, very personal and non-transferable. In no case you will be able to enter Moneytrans, nor make a Payment Operation through that service without correctly entering your access codes.


2. Protection of payment transactions with debit/credit cards

Does your payment institution have a great security system like Verified By Visa or 3D Secure that protects your card payments? We inform you about it: 3D Secure (3 Domain Secure) is a protocol or security system whose objective is to prevent fraud in online money transactions with credit/debit cards. This system uses a large amount of information that is transmitted between the company and the card issuer to verify the transaction and the user’s identity. This verification often consists of an SMS with a code that has to be entered to confirm the payment or transfer.

At Moneytrans, our web and app are secured by a 3D Secure protocol. And in case of fraud, the deception and the costs derived from it are paid by the bank that issued the card. In addition, we have one of the best and most secured payment gateway; Ingenico ePayments, used by large companies such as Skype.


3. Protection against cyberattacks and fraud

It is essential that the remittance company has an anti-fraud security system to prevent possible fraud, e-mail scams and identity theft. Cybercriminals never rest, therefore security and tracking of your transfers must be constant.

At Moneytrans, we monitor all transactions 24 hours a day and every day in order to prevent possible fraud, e-mail scams and phishing. This monitoring is twofold, using advanced technology with an automatic alert and blocking system as well as manual support from an experienced and specialized security team that is in charge of identifying suspicious activity and helping you protect yourself from fraudulent transactions.


4. Customer service available 7/7

What if I have an incident? It is very important that the payment institution you choose is available to solve your doubts and incidents with a fluid communication, in the language you feel most comfortable with and through any channel!

At Moneytrans, you can contact our multilingual Customer Service at any time via our chat, social networks or telephone. Check it out here!


5. Fund Guarantee

If there is a problem and the money does not reach my recipient, can I get my money back? This is a question we should all ask ourselves when choosing the company to send money to. Non-remittance is not an act of faith, it takes all the information to make the decision to entrust our savings to someone after so much effort. That is why the greatest security is not enough: before sending money it is necessary to confirm that the corresponding payment entity will respond to a payment operation that has not been executed or has been executed incorrectly, as well as to other non-monetary incidents.

At Moneytrans, we are a recognized payment institution, operating in Spain since 2006 and subject to the supervision of the Bank of Spain. We are responsible for the correct execution of the Payment Transaction until the moment that its amount is credited to the account of the Recipient’s payment service provider. In the case of unexecuted or defective Payment Transactions, we will return the amount corresponding to the transaction to the customer when he is liable in accordance with the previous paragraph. If you provide us with incorrect information about the Recipient, we will contact you to correct the Recipient’s information or to proceed with a refund of your Payment Transaction.

In addition, we subscribe to the general principles of safeguarding our customers’ funds; this means that we keep our own assets or income separate from those of our customers. To this end, we maintain a system of records and accounts that enable us, at any time, without delay and in an accurate manner, to distinguish the assets held for one client from the assets held for another client and from the institution’s own assets.


Discover Moneytrans, the safest way to make your money transfers!

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Mary Martin

Mary Martin is an economist specialising in financial education, Fintech and remittances. She has been bringing finance to migrants for over a decade.

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