5 Easy and Secure Ways to Transfer Money Using Your Phone

With digital banking now part of everyday life, transferring money using your phone has never been easier. A few simple steps are all it takes to send money anytime, anywhere, without having to visit a bank branch. In this guide, we’ll walk you through five common ways to transfer money using your phone, along with essential security tips to help you make every transaction with peace of mind.

There are five common ways to transfer money using your phone, each offering a different level of convenience depending on your needs.

1. Transfer Money by Scanning a QR Code

Scanning a QR code is one of the quickest and easiest ways to transfer money. It’s especially convenient when paying at stores or sending money to someone who has a QR code ready to use.

1. Open your banking app and select "Scan QR Code."
2. Point your phone’s camera at the recipient’s QR code.
3. The app will automatically retrieve and display the recipient’s account details.
4. Enter the amount you want to transfer and add a payment note, if needed.
5. Review the details and confirm the transaction using an OTP or biometric authentication.

2. Transfer Money Using a Bank Account Number

Transferring money directly to a bank account is one of the most familiar and widely used methods.

1. Log in to your mobile banking app.
2. Select "Transfer" or "Make a Transfer."
3. Choose "Transfer to Account Number."
4. Select the recipient’s bank, then enter their account number and the amount you wish to send.
5. Check the recipient’s name displayed on the screen to make sure the account details are correct.
6. Add a transfer note, if needed, and authorize the transaction using an OTP or biometric authentication.

3. Transfer Money Using a Phone Number

This option makes sending money even more convenient when both you and the recipient use the same banking system, or banks that support phone number transfers.

1. Open your mobile banking app and go to "Transfer."
2. Select "Transfer via Phone Number."
3. Enter the recipient’s phone number or choose a contact from your linked phonebook.
4. The app will automatically retrieve the bank account linked to that number. Check the recipient’s name, then enter the amount and payment note.
5. Confirm the transaction using biometric authentication or an OTP to complete the transfer.

4. Transfer Money Using a Card Number

If you have the recipient’s card number but not their bank account number, you may be able to transfer money directly to their card.

1. Open your banking app and select "Transfer."
2. Choose "Transfer to Card Number."
3. Enter the recipient’s card number (usually the 16-digit number printed on the card) and the amount you want to send.
4. Check the cardholder’s name displayed on the screen to ensure the money is going to the right person.
5. Confirm the transaction using an OTP or biometric authentication.

5. Transfer Money Using an E-Wallet

E-wallets offer another convenient way to send money. You can transfer funds directly to a bank account, such as a SeABank account, or send money to another e-wallet within the same system.

Case 1: Transfer Money from an E-Wallet to a Bank Account or Card

1. Log in to your e-wallet app and select "Transfer." Then choose "To Bank Account" or "To Card Number."
2. Select the recipient’s bank (e.g. SeABank), enter their account or card number, and specify the amount.
3. The app will automatically retrieve and display the recipient’s name. Double-check the details to make sure everything is correct.
4. Confirm the transaction using your e-wallet password, an OTP, or biometric authentication.

Case 2: Transfer Money Between E-Wallets

1. Log in to your e-wallet app and select "Transfer." Then choose "To Phone Number" or "Internal Transfer."
2. Enter the phone number linked to the recipient’s e-wallet, or select a contact from your phonebook, then enter the amount.
3. Check the recipient’s name displayed on the screen.
4. Confirm the transfer using your PIN or biometric authentication to send the money to the recipient’s e-wallet.

6. Essential Security Tips for Mobile Money Transfers

While transferring money by phone is quick and convenient, taking a few precautions can help protect your funds and personal information.

• Never share your OTP with anyone: Your OTP is a critical layer of security for your transactions. Never disclose it over the phone, through text messages, or on social media, even to someone claiming to be a bank employee.
• Don’t click on suspicious links: Scammers may impersonate banks through text messages or emails containing links that prompt you to log in or provide your card details. Always check where a message comes from and use only official banking apps downloaded from the App Store or Google Play.
• Enable biometric authentication (Face ID or fingerprint): Using facial recognition or fingerprint authentication to log in and approve transactions adds an extra layer of protection. It can help reduce the risk of unauthorized access if your phone is lost or someone else gets hold of your PIN.

7. Frequently Asked Questions (FAQs)

1. Are there any fees for transferring money using a phone?

Transfer fees vary by bank and depend on the type of transaction, such as whether you’re transferring money within the same banking system or to another bank. To help customers save on transaction costs, SeABank currently waives 100% of online transfer fees made through the SeAMobile app.

For the latest information, you can refer to the SeABank Digital Banking Service Fee Schedule for Individual Customers.

2. What’s the difference between transferring money using a card number and an account number?

When transferring money using an account number, you need to enter the recipient’s bank account details. With a card number transfer, you only need the number printed on the recipient’s physical card. Whichever method you use, always check the recipient’s name before confirming the transaction.

3. Is it safe to transfer money by scanning a QR code?

Yes, scanning a QR code can be a safe way to transfer money, provided the code comes from a trusted source. Always check the recipient’s account details displayed on the screen before confirming the amount. Avoid scanning QR codes from unknown sources, particularly those sent through text messages or social media.

4. What should I do if I’ve shared my OTP or suspect my personal information has been compromised?

Contact your bank’s hotline or visit the nearest branch immediately to request a temporary block on your account or card and have any suspicious transactions reviewed. The sooner you act, the better your chances of minimizing potential financial losses.

5. How do I enable biometric authentication for mobile transfers?

Open the "Settings" or "Security" section in your banking app and follow the on-screen instructions to enable Face ID or fingerprint authentication. Your phone must have the necessary biometric features to use this option.

There are several ways to transfer money using your phone, including by bank account number, card number, phone number, QR code, or e-wallet. Choosing the method that best suits your needs and following essential security practices can help make everyday transactions simpler, faster, and more secure.