Ways to check money transfers into the account for traders

It must be acknowledged that nowadays everything can be done online, especially buying and selling various items. Certainly, it’s convenient, but the inability to physically see the money has become a channel through which many traders encounter problems. These problems include incomplete transfers, the use of old slips, and the use of counterfeit slips. If not checked carefully, it can lead to easy fraud. Therefore, today we have gathered methods to verify money transfers into the account to help online traders avoid losing money and falling victim to fraud.

Check money transfers into your account offline

Traders who are not proficient with online methods can still do so through offline channels. 

Check money transfers into your account at the bank counter

Simply bring your account book to the bank teller. They will update the balance in your account book accordingly. However, if there are many people, you may need to wait for a long time.

Check money transfers into your account at the passbook update machine

You can avoid waiting in line. Because another method for checking money transfers into your account offline is to update your passbook through the passbook update machine located near the bank entrance.

However, it’s important to note that these two offline checking methods can be cumbersome and time-consuming, making them less suitable for online sellers who prioritise speed. To keep up with the fast-paced online shopping environment, it’s better to learn various online checking methods for efficiency.

Checking money transfers into your account from the balance

One of the advantages of technology is that online sellers can check whether money has been transferred into their account without having to spend time going to the bank.

Checking money transfers into your account via the bank’s mobile application

Every bank has its own mobile application, and updating account balances is typically done in real-time. If you need to check money transfers into your account, you can simply log in to the mobile application to view your balance. 

Checking money transfers into your account via SMS notifications

While not the most up-to-date method, it still allows merchants to check incoming funds into their accounts. You can subscribe to this service directly through the bank that accepts transfers. Once money is transferred in, you’ll receive an SMS notification immediately, without having to wait.

Checking incoming funds into your account from the bank’s Line Official Account (OA)

Apart from using the bank’s mobile application and SMS notifications, you can also check incoming funds via Line. An easy method is for the bank account holder to link their bank account with the bank’s Line Official Account. When funds are received, notifications will be sent through Line.

Checking incoming funds into your account from transfer receipts

In addition to checking incoming funds from transfer statements, you can also verify them from the transfer receipts that customers send to confirm transfers. However, this method requires careful scrutiny and verification.

Check if a receipt is genuine

Examine the overall appearance of the receipt and scrutinise the details such as the date, time of transfer, amount, sender’s and recipient’s names. This method may require careful observation and attention to detail.

Check a receipt using a QR code

Nowadays, every bank’s e-Slip includes a QR code, making it possible to verify whether it’s genuine or fake. The process is straightforward. Open the banking app of the receiving bank and select “Scan QR Code.” Then, simply scan the QR code. The system will verify whether the transferred amount matches or not. If it doesn’t match or can’t be verified, it indicates that the receipt may be fake.

Currently, there are multiple methods to verify incoming bank transfers, each offering greater convenience and peace of mind. This helps to eliminate the problem of fraud, providing online sellers or frequent money recipients with assurance that they won’t fall victim to scams.

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