You have heard a lot about how to withdraw money from online payment services. In fact, the term “online payment services” is usually used in reference to a money transfer service, which can be done by a regular customer or company through an online terminal. One can also use his mobile phone to make the transaction and the amount to be withdrawn will be credited on the customer’s account.
Let us take a look at how to withdraw money from online payment services: A client or company goes to the provider website and requests for the service, along with the amount to be withdrawn. The customer service personnel, using the Internet or voice, go through the payment gateway and process the transfer for the customer. In the system of the provider, there is a type of plastic card called NETS that serves as a proof of the card.
There is a small fee charged for this service and usually the amount is settled in United States Dollars. The online payment service provider then disburses the amount that was requested. A few providers of online payment services provide additional features like virtual account.
For online payment services, a change is made in the account of the customer before the withdrawal of the money is carried out. Such service can be used when the internet is blocked for whatever reason and the customer needs to withdraw money from the ATM in order to exchange it for currency.
The process of withdrawing money from online payment services can be done through either credit cards or bank cards. If the amount being withdrawn is large, then it is advisable to choose the bank cards as it helps in reducing the risk of fraud.
The Internet has become a platform for many users and businesses, and therefore it is becoming easier for people to apply for online payment services. Even if you are not yet working with online payment services, this is the right time to start considering your options.
How can you use your debit card to withdraw money from online payment services? Here are a few easy steps that you can follow:
Use your debit card to make an online purchase from the net. When you log in, select your account from the left menu. Then, on the account drop down menu select “Request a Transaction”. Enter the quantity that you want to withdraw and click on the submit button.
Once the online payment services are processed, you will be able to see the receipt in your email account. This will allow you to get the actual value of the transaction without being surprised by the total amount being withdrawn.
Once you have deposited the amount into your bank account, you can take your purchases from the net and use your debit card to withdraw the money. You can also use your debit card to buy over the counter. Even if the new site does not have the facility to accept the card, the bank may still be able to issue a debit card to the customer.
However, if you choose to use your bank card to withdraw money from online payment services, make sure you keep a record of the transaction. Since you are legally obliged to keep such records for tax purposes, it is important that you keep this information as well. You will need the details of the merchant and how much you bought so that you can get a refund of the expenses.
If you want to transfer money from your bank account directly to another person’s account, there are a few services available that allow you to do this. These are services like Moneybookers, MoneyGram and Xoom, all of which allow you to transfer money by email.