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With the advancements in technology that has happened over the last two decades, everything has evolved from the way it used to function 20 years back. Digitization being the hottest topic in today’s era, it has certainly affected the way we handle money matters as well. In yester years money transfer would typically be done either through a cheque or cash transaction. If we had to transfer funds to someone, we would issue a drawer’s cheque, which would take atleast 3-4 working days to be cleared and credited in his account.

However now, money can be transferred by the click of a button and within lightning speed. The blink of an eye and you have already transferred crores of Currency from one account to another. Online shopping is booming due to digital money transfer. Online bill payments or subscriptions are becoming a way of life. You name it and it can be done online. In today’s day and age, there is practically nothing that one can’t do via online transfer of funds.

The list is exhaustive, however let’s look at the top 10 types of online financial transactions people indulge themselves in:

- Online funds transfer: You can transfer funds from one person’s account to another person having an account in a different bank using NEFT, RTGS, UPI, PayPal, PayTm, Google Wallet and many more such instruments
- Online shopping: Today, E-Commerce is the largest and the most booming industry due to the online shopping revolution that has spread across the globe like an epidemic. You can practically buy anything online - from a needle to a lavish Sea-view Penthouse; from grocery to automobiles, anything at all, using these digital online money transfer options.
- Bill Payments: More than 56% of all bill payments are happening online these days due to the digitization. From Electricity Bill, to Mobile bill; from Credit Card bills to Home Loan EMIs, all are getting paid through online transfers.
- Annual Subscriptions: Most annual subscriptions or AMCs are also being paid digitally. From WiFi Subscriptions to Annual Coffee Subscriptions https://www.moustachecoffeeclub.com/subscription , people prefer to pay them all online.

Today’s generation is leveraging the technology and utilizing it to its fullest. Though digitization has turned out to be a boon for us, however we also need to be careful that it is not misused by anyone and turned into a bane. It is absolutely safe to do all your financial transactions online; however one has to be alert and make secure paying arrangements as well. You should be cautious while making financial transactions that you don’t save any of your financial credentials on any website. You should never share your user id or passwords with anyone. You also need to keep changing your passwords once every three months so that there is no risk of anyone hacking it. We should also be careful that we don’t keep any predictive or simple passwords like someone’s name or date of birth. All financial transactions should go through a secure mode to payment gateway.
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