money-transfer

Vocabulary Word

Definition

'Money-transfer' is the process of sending money from one account to another through banking channels. It's like paying your friend back through a mobile app or an online bank transaction.

Examples in Different Contexts

In international trade, 'money transfer' is crucial for executing cross-border transactions. An export manager might explain, 'Efficient money transfer mechanisms are vital for smooth trading operations and managing currency risks.'

Practice Scenarios

Business

Scenario:

We have received your order but are still awaiting payment. Can you confirm when the transaction will happen?

Response:

Yes, the money transfer for the payment will be done by the end of the day.

Tech

Scenario:

Our app offers several ways to move funds around. Are there any specific features you'd like to see?

Response:

I would suggest adding a 'request money' feature that will ease the process of money transfer among the app's users.