Today, many people use the internet and smartphones to transfer money to friends, family, and businesses. Is this a positive or negative development?

In

this

modern era, the

usages

Fix the agreement mistake

usage

show examples

of online

money

transfer

Fix the agreement mistake

transfers

show examples

is increasing with leaps and bounds . But many people claim that it is beneficial while others reject

this

notion. In my, opinion

this

concept has some advantages and disadvantages at

the

Correct article usage

apply

show examples

same time. I strongly believe that the position of online

money

transfer

Fix the agreement mistake

transfers

show examples

appears to be more rational. In

this

, essay we will

further

elaborate on the positive and negative effects of

this

trend and

thus

will lead to a logical conclusion. There are myriads of reasons which will

further

explain

this

argument. Yet, the

most

Correct quantifier usage

apply

show examples

chief fact is that it is

time saving

Add a hyphen

time-saving

show examples

method. One clear example is that pupils who live in another country send online

money

to

her

Correct pronoun usage

their

show examples

family owing to pay bills and taxes.

However

, in ancient times,

money

sent

Add a missing verb

was sent

show examples

to

person

Add an article

the person

a person

show examples

with the help of

bank

Add an article

a bank

the bank

show examples

.

However

, it is controversial and challenging because numerous types of documents

such

as Identity Card and password is required by the bank. Another pivotal aspect is that the population send

money

anytime.

Although

,

this

is not possible in the past due to

bank

Correct article usage

the bank

show examples

Add a missing verb

being open

show examples

open

Replace the word

opening

show examples

only

9

Change preposition

from 9

show examples

am to 5 pm. Moving

further

, it is pertinent to mention that no charges

consumed

Add a missing verb

are consumed

show examples

by the online method and it is efficient and fascinating. A survey conducted by the prestigious university Oxford revealed that in

the

Change the article

apply

show examples

2022,

majority

Correct article usage

the majority

show examples

of individuals choose online

money

transfer

rather than

others method

Fix the agreement mistake

other methods

show examples

such

as banks, and, firms.

However

, there are some pitfalls that negate these arguments which can certainly overwhelm the potential influence of

this

trend.

Although

, the most alarming one is that online

money

fraud is

also

increasing with leaps and bounds. For, instance a report published by the

cyber crime

Correct your spelling

cybercrime

show examples

branch depicts that 75 per cent

money

Change preposition

of money

show examples

frauds rising in the

last

five years.

Besides

,

no

Correct article usage

the no

show examples

money

refund option is the major drawback of

this

notion individuals

feels

Correct subject-verb agreement

feel

show examples

paranoid sometimes.

Moreover

, hackers

also

concealed data numerous

time

Fix the agreement mistake

times

show examples

from

the

Correct article usage

apply

show examples

online application. The article published in the eminent newspaper depicts that 5

billions

Change to singular

billion

show examples

dollars

looted

Add a missing verb

were looted

show examples

by

the

Correct article usage

apply

show examples

hackers

in

Change preposition

apply

show examples

last

year's

Change noun form

year

show examples

while using online

money

transfer

application

Fix the agreement mistake

applications

show examples

. In

conclude

Replace the word

conclusion

show examples

, according to the argument aforementioned above, one can reach the conclusion, that the perks of the online application are instrumental indeed. The potential drawbacks should not be overlooked either.