Bank transfers are used by many people and is considered one of the safest way to send money from one account to another, since there is the possibility to send money over a non-online or an online interface, some may prefer it. A bank transfer is the fastest when it’s being
made at the same bank. In comparison when transferring money from one bank to another, it is likely to take several days until the money transfer is processed. To make a bank transfer, the customer needs the sellers IBAN and BIC. It is also recommended that the customer makes
sure that the money is being sent to the right seller, he will also need the name of the company, the name and address of the bank. The transfer can be canceled as long as the money transfer has not been processed yet. The transfer can take between one and three days, until the funds are available in the other account.