Month: May 2021

You live in Slovakia, but have relatives and friends in Ukraine? Do you want to support them financially or just send money to your friends for their birthday? Transferring money from Slovakia to Ukraine has never been so easy as with the MeestPay service. Transfer money whenever you want, in cash in foreign currency or to a bank card in UAH, without worrying about the reliability and security of transactions. We will tell you about the advantages of our service. We will make a comparison with bank transfers, and also describe in a few words how to use the service. Find out more about money transfers from Slovakia to Ukraine.

How to Transfer Money From Slovakia to Ukraine Quickly and Safely?

Having studied the advantages of the MeestPay service, you will receive an answer to this question.

Advantages only:

1. No need to visit a bank branch, the cash desk of which is open only on weekdays from 9 am till 5 pm, and sometimes even until 4:30 pm. You can make a money transfer from Slovakia to Ukraine on Sunday evening, and in a minute or two, the recipient will receive a message about the transfer. The money can be used at your own discretion immediately after crediting.
2. A minimum of actions from both the sender and the recipient. When registering on the site for the first time, the sender needs to enter personal data and go through card verification. To do this, a specific amount will be debited from the account, the amount of which will need to be reported to confirm the card. The debited amount will be returned to the account within three working days. The recipient needs to provide the full name, phone number, and card number of the Ukrainian bank (if it is a money transfer from Slovakia to Ukraine from card to card).
3. The ability to transfer not only UAHbut also USD and EUR. You can get cash at any of the 3,500 branches of Ukrainian banks. To do this, the recipient must provide a passport and transfer number. For PrivatBank clients, the procedure is even simpler: after receiving the control number of the transfer, they can transfer funds on their own to their currency card using the banking application and choosing the Welsend system.
4. Safety. Today, cases of internet scams occur every day. Therefore, many are wondering how to transfer money from Slovakia to Ukraine safely. Our service guarantees the confidentiality of personal data and non-disclosure of information to third parties. The service operator uses the rules and procedures for the protection of user personal data, which are established by Regulation No. 2016/679 of the European Parliament and the Council of the European Union of April 27, 2016. The MeestPay service is performed based on the permission of the Financial Supervision Commission (Poland) for the provision of payment services as a National Payment Institution, issued for Transfer24 Sp. z o.o. (IP5 / 2013) and permission of the National Bank of Ukraine for the provision of services in the field of the international money transfer system, issued for Meest Corporation Inc. (53-02010 / 16274).

If we compare our service with a bank transfer, it has the following advantages:

• no need to visit the bank department, all operations are carried out online;
• instant money transfer;
• minimum fee and the first money transfer is free;
• minimum information about the recipient;
• transfers from card to card are possible;
• You can use the service all over the world by registering just one account.

Are There Transfer Limits?

Our service is created to transfer small amounts. Basically, it is convenient to use if you want to transfer money often, but in small amounts. At the same time, there is no limit on the number of transfers. There is only a daily limit on the total amount of transfers. Please note that if a transfer is made to a card, additional limits or restrictions may be set by issuing banks. You need to read the rules and service rates of the recipient’s card.

How to Send Money From Slovakia to Ukraine?

The sender registers on the site. We wrote about card verification above. The first money transfer is free. The sender needs to indicate the name, phone number, and card number of the recipient. And that’s all. As soon as the sender confirms the transfer, the recipient receives a message that the money is in his account. If we consider the option of receiving cash at any of the 3,500 bank branches in Ukraine, the recipient needs to provide the documents and the transfer number.

Is It Possible to Transfer Money From Ukraine to Slovakia?

So far, our service is working on transfers from abroad to Ukraine. But, studying demand, analyzing the consumer market, we are constantly expanding the range of services provided. Follow the news on our website and be the first to know about new services. We work every day to become better.

Internet scam or Internet fraud is a catchy term that refers to various types of fraud that take place on the Internet or through software that has access to the Internet. Fraudsters use malware, phishing techniques, and social engineering to gain access to personal data, usually to steal money.

What Is Internet Scam?

There are many types of online scams, but they all have one thing in common: they try to trick you into revealing your personal information or paying for something you won’t get. The most common Internet fraud schemes are email scams such as the famous Nigerian scam, auction scams, Craigslist scams, dating site scams, fake antivirus, and quick money scams, and credit card pre-acceptance scams. Each type is a kind of money scam on the Internet.

The most popular types of online fraud:

1. Phishing or catching a victim. Phishing is an online scam that attempts to obtain confidential information, for example from someone who has a bank card or bank account. The victim usually receives an e-mail with a message about the need for authorization on the bank’s website or confirmation of personal data on some Internet platform. By clicking on the link contained in the letter, the victim gets to the platform, which is just an imitation of the bank’s website or online store. In fact, the victim of a data entry fraud gives the card details to online scammers who will use them for their own purposes.
2. Winning the lottery. Lottery scams are one of the most popular on the web. The cheated person receives an email stating that they have become the winner of the lottery and must contact the organizer to receive the prize. In the next email, the “winner” will be asked to deposit some amount to collect the entire winnings. In this case, common sense should protect you from fraud – you can not win a lottery that you did not participate in!
3. Fake online store. Fake online stores are often part of a larger scam, the next step of phishing. It is the type of website that the recipient of the email is directed to inform them about the need to verify the data. Online payments and transfers to fake sites are made without the HTTPS protocol (without the green padlock in the site’s address bar). A fraudster who has obtained the data of a deceived user can either steal money from a bank account or use the victim’s personal data for money laundering.

Where Do Internet Scams Come From?

Online scams can take the form of malware, such as a virus or spyware, that downloads stealthily onto your computer to steal your passwords and gain access to bank accounts, or use fraudulent email and social engineering to extort money.

How to Recognize Money Cheating on the Internet

The best way to recognize deception is to follow the proverb: all that glitters is not gold. Many Internet scams can seem like great deals. all you have to do is make a small deposit to cover the so-called “processing fees”. Another type is a scam based on installing malware on your computer. They recommend that you download a file that will help restore the infected computer after a pop-up window appears informing you about the threat. You just need to download a fake antivirus program.

How to Deal With Online Fraud

There is no definite answer to the question “How to protect yourself from fraudsters on the Internet?” Internet scams are an easy way to steal other people’s money, and there will always be someone willing to use this method.

Ways to Prevent Online Fraud:

• common sense;
• don’t trust anyone who offers you unexpectedly large amounts of money;
• do not pay by card, following unknown links sent to you to the mail or in messengers. Use only those sites that you personally trust for payment or double-check by entering the name of the site into the search engine to compare offers;
• do not send money to anyone in order to get something for free.

Is E-Banking Safe?

To keep yourself safe from phishing, remember that banks never send emails to their customers to verify their data. Online banks use effective multi-layered security measures. The bank never asks for your identification code or card number when you enter the system, but only a portion of it in conjunction with a password or code sent via SMS. Do not enter your credit card number on websites that lack HTTPS and the green padlock in the bottom right corner of your web browser. Online banking is safe if the customer is guided by common sense, protects their personal data, and chooses only trusted services.

Protect Yourself From Online Scams

Only buy from legitimate e-commerce sites, never enter your bank card details or send money to anyone, especially with money transfer, and generally treat any unexpected offers as suspicious. At the same time, you can also protect yourself by choosing a safe and proven money transfer service like MeestPay, if you need to make a transfer to a Ukrainian bank card. The service uses the rules and procedures for the protection of user personal data, which are established by Regulation No. 2016/679 of the European Parliament and of the Council of the European Union of April 27, 2016.

With the help of a SWIFT transfer, you can make transactions in any currency and to any bank in the world. However, its implementation takes longer than a regular online transfer, on average about 3 working days. It is not always possible to determine the cost of a transfer in advance, since it depends on how many banks will act as an intermediary in a particular transaction. And most importantly, SWIFT does not solve the problem of small transfers. As you can see, SWIFT transfers have disadvantages, which we will discuss in more detail in this article.

What Is SWIFT Transfer?

The term SWIFT Transfers comes from the name of the Society for Worldwide Interbank Financial Telecommunications, founded in 1973. Initially, it included more than 200 banks from 15 countries. The main purpose of its creation was mutual, close cooperation, and exchange of information between banks. Today, the SWIFT international payment system unites more than 8000 institutions from 208 countries. The Association acts as an intermediary in banking, brokerage, and stock transactions.

SWIFT payment is a transfer that will allow you to make a payment in any currency to any bank and country around the world. Also, a SWIFT transfer abroad is carried out in foreign currency. It is used to transfer money to countries outside the European Union, but that does not mean that you can not send funds between EU member states with the help of it.

Find out how to transfer funds using SWIFT step by step. You should submit the following information to the bank where you have an account:

• personal data of the transfer recipient, that is, the person or institution to whom you intend to send money in foreign currency;
• beneficiary’s bank account number – required in IBAN format;
• beneficiary’s bank SWIFT code (BIC code);
• purpose of transfer;
• the amount of the transfer in the currency of sending or receiving.

A SWIFT code is an internationally unique alphanumeric code assigned to a specific banking institution, consisting of letters and numbers, 8 characters long, but you can also come across codes consisting of 11 characters. In the case of longer SWIFT codes, the last three additional characters are used to identify a specific bank branch. However, the SWIFT code mainly consists of the following:

• The first four characters are the unique identifier of the banking institution.
• Two consecutive characters are the country code according to the ISO 3166-1 standard.
• The next two characters are the location code.

When transferring money in foreign currency, you must enter the SWIFT code. It is used to identify banks or other organizations that are members of the entire SWIFT system. This allows financial transactions to be carried out more efficiently and mainly automatically. The SWIFT code is required when transferring between two different countries.

SWIFT Payment Disadvantages

1. Making a money transfer takes a long time.

Standard SWIFT transfers are much slower than, for example, SEPA or MeestPay. However, it does have the option of paid acceleration, which greatly increases its capabilities.

• Standard (D + 2) – the money transfer is received two days after it was sent.
• Urgent (D + 1) – the money transfer comes one day after it was sent.
• Express (D + 0) – the transfer is carried out on the same day.

2. The high cost of money transfers.

We will literally have to pay a high price for the wide availability of SWIFT transfers. The cost here is incomparably higher and is most often defined as a percentage of the transfer amount, but with a minimum and maximum value. These values are set differently for each country.

In addition, there are costs of the so-called intermediary banks, which can amount to several tens or several hundred hryvnias or euros. Who pays this cost depends on the chosen split option (this decision always remains with the person who orders the transfer).

Thus, the fee is rather big for a SWIFT transfer; whereas using the MeestPay transfer system, you can make instant transfers for a small fixed fee, and make the first transfer absolutely free of charge.

What Else Should I Know About Currency Transfers?

There are the following cost-sharing options:

• OUR – all costs are covered by the sender of the transfer;
• BEN – all costs are covered by the recipient of the transfer;
• SHA – costs are divided between both parties: senders pay the fee of their bank, the remaining costs (the recipient’s bank and intermediary banks fee) are covered by the recipient.

Banks may charge a fee not only for sending but also for receiving a foreign transfer.

If the sender provides incorrect data for the transfer (and, thus, the transfer won’t reach the recipient), he will be charged additional costs by banks to clarify the recipient’s details.

If you want to send money within Poland, in this case, SWIFT transfers also have disadvantages. A transfer of foreign currency between two Polish banks is also considered a transfer abroad (this is especially important for SWIFT transfers – then the money goes through an intermediary bank outside Poland, and therefore there are additional costs).