Every Money Transfer And Remittance Term You Need To Know: Letter D

Last updated: October 05, 2022

Delivery Method

A delivery method is how you choose to pay your overseas recipient with your money transfer. The term delivery option signifies the same thing.

Some popular delivery methods include bank deposit, mobile wallet credit and cash pickup. There are also additional options available with many providers that include card transfers, home delivery and airtime top ups.

Also known as: Delivery Option
Also see: Airtime Top Up, Bank Deposit, Card Transfer, Cash Pickup, Direct to Card, Mobile Money Transfer, Mobile Top Up, Payment Method
Further reading: Delivery Methods for Money Transfer

Delivery Option

A delivery option, also called a delivery method, is the mechanism using which your recipient receives the money you send to them as part of your international money transfer.

Bank account deposit, mobile wallet credit, cash pickup, credit to a card, home delivery and mobile airtime top up are some of the most popular delivery options offered by many money transfer providers.

Also known as: Delivery Method
Also see: Airtime Top Up, Bank Deposit, Card Transfer, Cash Pickup, Direct to Card, Mobile Money Transfer, Mobile Top Up, Payment Method
Further reading: Delivery Methods for Money Transfer

Digital Wallet

A digital wallet is a software application, generally a mobile app, that can be used to store money. You can transfer funds in and out, as well as make purchases online and spend money in many different ways with your digital wallet.

In the context of money transfers and remittances, you can directly send money into your recipient's digital wallet overseas. In that regard, a digital wallet can be used as a delivery method to pay your overseas receiver.

Also known as: Electronic Wallet, Mobile Wallet
Also see: Delivery Method, Delivery Option, GCash Wallet, Mobile Money Transfer
Further reading: Delivery Methods for Money Transfer

Direct Bank Transfer

A direct bank transfer is a payment method to fund your money transfer with a remittance company. The way it works is that you pay for your transfer by sending money directly from your bank account into the money transfer operator's bank account in your country of residence.

Usually, paying with a direct bank transfer is free, so you get to save some money. On the flip side, it can take some time for the money transfer company to get the funds. They won't send your money overseas till they get your payment.

Also known as: Bank Transfer
Also see: Payment Method
Further reading: Payment Methods for Money Transfer

Direct to Card

Direct to Card is a way to send money overseas directly into a debit or credit card that your recipient owns. In that sense, it is a delivery method to send money abroad.

Direct to Card money transfers tend to be fast as most cards are part of the global payments network and, therefore, money can be moved in and out of them easily and quickly.

Also known as: Card Transfer
Also see: Delivery Method, Delivery Option
Further reading: Delivery Methods for Money Transfer

Domestic Wire Transfer

A wire transfer is an electronic transfer of funds from one bank account to another. If both bank accounts are in the same country, the wire transfer is referred to as a domestic wire transfer (as opposed to an international wire transfer).

Also see: FedWire, International Bank Transfer, International Wire Transfer, SWIFT, SWIFT Code, Wire Transfer, Wire Transfer Fee
Further reading: How Do International Wire Transfers Work?
The Top 7 Best US Banks for International Wire Transfers

Dotpay

Dotpay is a popular payment network in Poland, and helps you make all types of payments, including paying for your money transfers in Poland. In that regard, it is a local payment method.

With Dotpay, funds come out of your bank account. But you never have to share your bank information with anyone as payments are handled by the Dotpay system.

Also see: Local Payment Method, Payment Method
Further reading: Payment Methods for Money Transfer