Back in the day, people used the postal services in order to send across checks to their relatives or to service providers. Whenever someone needed to send money, it would take time for it to reach the concerned persons. When you are able to make payments instantly, it carries a number of advantages over writing checks and waiting for the other person to pick them up.
One of the most significant benefits of money transfer is the speed of the transaction. Checks can take more than a week or two to get processed. Transferring money, on the other hand, takes just a day or two to process. The speed at which financial transfer transactions take place make it easier for people to manage their finances better and pay their bills on time. You can easily avoid late charges, when you send the money across the speedier way.
It can be risky to send a check via postal mail. Sometimes, the check can either get lost or get stolen on its way to the recipient. If the check is lost in the mail, then you could have to pay late fees and charges even though you try to convince the creditors that you did try to make payments on time. If the check gets stolen, it can result in consequences that are worse than that. The thieves could easily gain access to your account number and routing number. With that information, they could possibly even drain your bank account of all the monies. When you use cash transfers in place of checks, these problems can be easily prevented.
You can easily have several accounts and set up a special account to move your money back and forth or to send money to another person. Even though it can take a lot of time for the account to get verified and set up, you can initiate money transfer within a matter of a few seconds when you finishing setting up your account. This makes it easier for the money to circulate around and in case one needs to make a major purchase. It would also be possible to take advantage of the higher interest rates in case of a cash transfer and make sure funds are available in your special account in case of a financial exigency. Cash transfer is as simple, easy to handle, and as flexible as that.