transfer-funds

Vocabulary Word

Definition

'Transfer funds' means moving money from one account to another. It's a bit like passing the ball in soccer - the ball (or money) moves from one player(account) to another.

Examples in Different Contexts

In online payments, transferring funds is a common method for sending money to friends, family, or businesses. An online payment platform spokesperson might say, 'Our platform allows users to transfer funds internationally with minimal fees.'

Practice Scenarios

Business

Scenario:

Our project needs additional human resources and a software system upgrade. It's time for some strategic financial adjustments.

Response:

I think we can transfer funds from the logistics department budget, which has an excess allocation.

Tech

Scenario:

We need to save for our Hawaiian vacations this summer. Let's plan our monthly expenses and set aside an amount.

Response:

Alright, let's transfer funds each month from our joint checking account to our vacation savings.