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 FinTech, 'money transfer' involves innovative technologies to enable fast and secure transactions. A FinTech developer might note, 'We're leveraging blockchain to revolutionize money transfer, ensuring transparency and security for users.'

Practice Scenarios

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.

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.