The essentials of a successful money transfer

Phones have become an inseparable part of our everyday life over the past decade. The digitalization of various services saves us time and effort, and many users find that when it comes to managing their finances, convenience is highly essential. This article will focus on money transfers on a local and international level, which we’ll discuss in further detail.

Thanks to iCard Digital Wallet, there are various ways to make a transfer, which meet the diverse needs of every user. You can send money to other users directly, make a bank transfer, or transfer to a card. We care for you and want to make sure you know how to send money whenever you need it and what steps you should take when your transfer’s unsuccessful. We want to remind you of everything about money transfers and help our newest users to explore all details around the service in the upcoming lines.

Sending money to other iCard users

A friend in need is a friend indeed! Transferring money to your friends and family using iCard Digital Wallet is easy, secure, and free. The service is more than convenient when you want to split the bill, collectively buy a gift for a colleague at work, or support each other financially. If you want to take advantage of sending money this way, you should follow these steps:

1. Open the iCard app.
2. Choose the “Send” tab and then “User” from the upper navigation.
3. Select the recipient by typing their name, number, or e-mail.
4. Enter the amount and choose the account you want to send the money from.
5. Check if all details are correct and confirm.

After you’ve completed the steps, the funds arrive immediately, even if the recipient lives abroad. Besides being instant, the transfer is fee-free – you save time and money for the important things in life.

It’s good to know that if you’re trying to send money to someone who’s not an iCard user, the amount won’t be sent immediately. You’ll receive a notification that the recipient needs to register at iCard before you confirm the transfer. You’ll have to invite them to download our digital wallet, and they’ll receive the funds after their verification. Registration and account opening are entirely free – a few more exciting reasons to join our family.

Sending money to IBAN accounts

Bank transfers are the most common type of money transfer. They’re ideal for making payments for various services, payments to institutions, or to friends and family who live abroad. These transfers are also completely safe, secure, and simplified. You’ll just need the recipient’s IBAN to get started.

With iCard digital wallet, you can take advantage of 4 types of bank transfers – ideal for various situations:

• SEPA and SEPA Instant transfers – they can be completed in euros only and arrive in up to 1-2 business days for SEPA transfers and immediately for SEPA Instant transfers;
• international SWIFT transfers – they work with foreign currencies, can be sent to recipients who live in countries outside the SEPA system, and arrive within 3-5 business days;
• BISERA transfers – they can be completed in leva only and arrive within a working day.

To make a bank transfer, you have to do the following:

1. Open the iCard app.
2. Choose the “Send” tab and then “Bank” from the upper navigation.
3. Type the recipient’s IBAN.
4. Enter the amount and choose the currency and the account you want to send the money from.
5. Fill in the recipient’s name and the transfer’s reference*.
6. Check if all details are correct and confirm.

*You also have to fill in the beneficiary’s address for international SWIFT transfers.

Note that there can be various reasons for the unsuccessful delivery of a bank transfer:

• you misspelled the recipient’s name or IBAN;
• the beneficiary account is blocked;
• you failed to provide us with the requested documents and information for investigating the transfer’s essence.

We advise you to check all details before completing a transaction and assist us with all the requested information to ensure a successful transaction. If the transfer is still pending, don’t worry – you might have just completed it on a weekend or a holiday, which will extend the delivery time.

Sending money to a card

The latest and most convenient way to make transfers with no hidden fees is the direct transfer to a card. The funds arrive within minutes, and the recipient doesn’t even need a digital wallet. Whether you’re sending money for your rent, a gift, or any other occasion, you’ll need to enter the number of the debit or credit card (VISA or Mastercard, issued within the EEA) which you’ll be funding, as well as the recipient’s name, country, and city.

You can send money to a card in a few easy steps:

1. Open the iCard app.
2. Choose the “Send” tab and then “Card” from the upper navigation.
3. Tap the “+” button, enter the amount and choose the currency and account you want to send the money from.
4. Fill in the recipient’s details, check if everything is correct, and confirm.

If the transfer’s still pending, there might be some additional checks performed by us or the recipient’s bank. We’ll inform you if you need to provide us with the necessary information or documents to complete your transfer successfully.

In case your transfer’s unsuccessful, a few reasons might be a factor:

• the recipient’s card might be blocked, destroyed, or inactive;
• the recipient’s bank might consider the transfer risky;
• there might be a technical issue.

We recommend contacting the recipient and asking for another card’s details to make a new transfer.

Don’t forget that you can contact our customer support team anytime if any money transfer issues occur. With iCard, every problem has a solution, and the various transfer methods are at your disposal 24/7.

Enjoy the convenience of money transfers with iCard: