How it Works

Comparison between types of transfer

Basic Secure - with Credit Card (coming soon) Secure - with Teller
Cost FREE 0.5%
6.0% + 5.0 USD when losing a dispute
1.0%
Money arrives in 12 - 72 hrs. 24 hrs max. 12 - 72 hrs.
Are disputes available? No Yes Yes
Sending limits $500 usd Unlimited Unlimited

Regular transfers

Search for active offers

Once you are logged in, you can search for offers from other users that may interest you. If you are a user from the United States and want to send $300 USD to Mexico, there might be a user from Mexico, who wants to send a similar amount to the United States. If an offer and the user that posted it are of your interest, you can select the offer. This will send a notification to the user, who posted the offer, and he will choose whether or not to do the transfer with you. An email will be sent, once a decision is made by this user. If you can't find active offers that interest you, you can create your own (see 'Create an offer').

Create an offer

If you couldn't find an active offer that interested you (see 1. Search for active offers), you can also create a new offer. This will let other users see your offer and select it if it interests them. You can create an offer by clicking the 'Post an offer' button on the offers search page or go to 'My Offers' (which is available on your menu on the upper right) and click on 'New offer'. You can select to which country you want to transfer money (e.g., to send money to someone in Mexico, select Mexico). You also need to fill the form with your recipient's information, and the amount and the expiration time for your offer (time when no other users can see your offer, therefore, no transfer can be made from this point). You can also post your offer securely (see Secure transfers), but this section of the page will focus on the regular transfers. Once you post your offer, users can find your offer and select your offer.

Start the transfer

If you created the offer, other users can select it. Here, you will receive a notification, once they do, so you can either accept or decline their counter offer (depending on the user's rating). If you selected someone else's offer, and they accept your counter-offer, the transfer will start, and you will be notified by email. You can see the transfer details by going to 'My Transfers' on the upper right menu.

Transfer process

Once the transfer starts, these steps will be performed. Note: For this example, let's say User A is in United States and wants to send money to Mexico and posted the offer. User B is in Mexico and wants to send money to the United States.

Time limits

These time limits apply for regular transfers: Domestic bank transfers must be done up to 10 business hours after the transfer's previous step (or transfer creation if this is the first payment). Business hours are calculated from 9:00 to 14:00 from Monday to Friday on your local time. Payment confirmations must be done up to 18 natural hours after the previous step (first or second payment).

Warranties

There is no warranty the other user will perform the payment to your recipient, so you need to be careful with whom you select to make regular transfers, since Move My Cash is not responsible for frauds when transferring money in a non-secure manner (see Secure transfers).


Secure Transfers

There are two types of secure transfers:

Teller Secure Transfers

Search for active offers

Once you are logged in, you can search for offers from other users that may interest you. If you are a user from the United States and want to send $300 USD to Mexico, there might be a user from Mexico, who wants to send a similar amount to the United States. If an offer and the user that posted it are of your interest, you can select the offer. This will send a notification to the user, who posted the offer, and he will choose whether or not to do the transfer with you. An email will be sent, once a decision is made by this user. If you can't find active offers that interest you, you can create your own (see 'Create an offer'). Secure transfers include a lock icon, indicating they are secure. When an offer is posted securely, either by using a teller or credit card, a counteroffer must be secure.

Create an offer

If you couldn't find an active offer that interested you (see 1. Search for active offers), you can also create a new offer. This will let other users see your offer and select it if it interests them. You can create an offer by clicking the 'Post an offer' button on the offers search page or go to 'My Offers' (which is available on your menu on the upper right) and click on 'New offer'. You can select to which country you want to transfer money (e.g., to send money to someone in Mexico, select Mexico). You also need to fill the form with your recipient's information and the amount and the expiration time for your offer (time when no other users can see your offer, therefore, no transfer can be made from this point). Choose to post your offer securely. Here, you will select whether you want to use a credit card. If no credit card is entered, by default, teller is selected. A teller, who is a Move My Cash registered user, who serves as a liaison between users, must be found within your country. If this is not the case, and the transfer had to be secure, credit card details must be entered. This doesn't mean the offer will be charged to your credit card automatically; the credit card is entered as a warranty - Move My Cash will authorize the amount of the offer plus a penalization and commission fee (as per the terms and conditions), but this amount won't be charged, unless the counterpart of the transfer (see next step) disputes (see disputes in next steps) and Move My Cash determines you didn't comply with the domestic transfer you were supposed to do. Once you post your offer, users can find your offer and select it.

Start the transfer

If you created the offer, other users can select it. Here, you will receive a notification, once they do, so you can either accept or decline their counter offer (depending on the user's rating). If you selected someone else's offer, and they accept your counter-offer, the transfer will start, and you will be notified by email. You can see the transfer details by going to 'My Transfers' on the upper right menu.

Transfer process

Once the transfer starts, these steps will be performed. Note: For this example, let's say User A is in the United States and wants to send money to Mexico and posted the offer. User B is in Mexico and wants to send money to the United States.

Disputes

Disputes are a way in which Users can let Move My Cash know their recipient didn't receive the transfer they were enrolled in. Disputes are only available on secure transfer types. By raising a dispute, you are sure your recipient has received no money, yet, and you confirm you made the payment you were supposed to make. If you raise a dispute, an ID will be assigned to the dispute, so a Move My Cash agent can follow-up on your request. Please attach as much proof of your payment and the lack of receipt from your recipient to ensure our agent can review all the information needed. If the Move My Cash agent confirms there was a lack of payment, charges will apply in order to zero-out the balance between the parts. A dispute must be created within 20 hours after a transfer has expired or has been closed. After this time, disputes cannot be created, and Move My Cash won't be able to review the transfer history, nor take any actions in terms of penalizing a user.

Time limits

These time limits apply for regular transfers: Domestic bank transfers must be done up to 10 business hours after the transfer's previous step (or transfer creation if this is the first payment). Business hours are calculated from 9:00 to 14:00 from Monday to Friday on your local time. Payment confirmations must be done up to 18 natural hours after the previous step (first or second payment). Disputes must be created up to 20 hours after the transfer was completed or expired.

Warranties

A Teller Secure Transfer is different from a regular transfer, because if the second user to make a payment fails to make it, the Teller will refund the amount transferred to him/her. Also, if the first user fails to confirm the payment to his/her recipient, but the second user confirms via a dispute he/she transferred the specified amount, the payment to his/her recipient can be made without a confirmation. A dispute must be created within 20 hours after a transfer has expired or has been closed.

Credit Card Secure Transfers (coming soon)

Search for active offers

Once you are logged in, you can search for offers from other users that may interest you. If you are a user from the United States and want to send $300 USD to Mexico, there might be a user from Mexico, who wants to send a similar amount to the United States. If an offer and the user that posted it are of your interest, you can select the offer. This will send a notification to the user, who posted the offer, and he will choose whether or not to do the transfer with you. An email will be sent, once a decision is made by this user. If you can't find active offers that interest you, you can create your own (see 'Create an offer'). Secure transfers include a lock icon, indicating they are secure. When an offer is posted securely, either by using a teller or credit card, a counteroffer must be secure.

Create an offer

If you couldn't find an active offer that interested you (see 1. Search for active offers), you can also create a new offer. This will let other users see your offer and select it if it interests them. You can create an offer by clicking the 'Post an offer' button on the offers search page, or go to 'My Offers' (which is available on your menu on the upper right) and click on 'New offer'. You can select to which country you want to transfer money (e.g., to send money to someone in Mexico, select Mexico). You also need to fill the form with your recipient's information, and the amount and the expiration time for your offer (time when no other users can see your offer, therefore, no transfer can be made from this point). Choose to post your offer securely. Here, you will select you want to use a credit card. If no credit card is entered, by default, teller is selected. A teller, who is a Move My Cash registered user, who serves as a liaison between users, must be found within your country. If this is not the case, and the transfer had to be secure, credit card details must be entered. This doesn't mean the offer will be charged to your credit card automatically; the credit card is entered as a warranty - Move My Cash will authorize the offer, plus a penalization and commission fee (as per the terms and conditions), but this amount won't be charged, unless the counterpart of the transfer (see next step) disputes (see disputes in next steps) and Move My Cash determines you didn't comply with the domestic transfer you were supposed to do. Once you post your offer, users can find your offer and select it.

Start the transfer

If you created the offer, other users can select it. Here, you will receive a notification once they do, so you can either accept or decline their counter offer (depending on the user's rating). If you selected someone else's offer and they accept your counter-offer, the transfer will start, and you will be notified by email. You can see the transfer details by going to 'My Transfers' on the upper right menu.

Transfer process

Once the transfer starts, these steps will be performed. Note: For this example, let's say User A is in the United States and wants to send money to Mexico and posted the offer. User B is in Mexico and wants to send money to the United States.

Disputes

Disputes are a way in which Users can let Move My Cash know their recipient didn't receive the transfer in which they were enrolled. Disputes are only available on secure transfer types. By raising a dispute, you are sure your recipient has received no money, yet, and you confirm you made the payment you were supposed to make. If you raise a dispute, an ID will be assigned to the dispute, so a Move My Cash agent can follow-up on your request. Please attach as much proof of your payment and the lack of receipt from your recipient to ensure our agent can review all the information needed. If the Move My Cash agent confirms there was a lack of payment, charges will apply in order to zero-out the balance between the parts. This is why the authorization to your credit card took place, when you posted or selected an offer. The Move My Cash agent can charge the transfer + penalization fees and commissions, according to the terms and conditions. Also, if needed, the agent can unauthorize (unfreeze) the amounts as needed. A dispute must be created within 20 hours after a transfer has expired or has been closed. After this time, disputes cannot be created, and Move My Cash won't be able to review the transfer history, nor take any actions in terms of penalizing a user.

Time limits

These time limits apply for regular transfers: Domestic bank transfers must be done up to 10 business hours after the transfer's previous step (or transfer creation if this is the first payment). Business hours are calculated from 9:00 to 14:00 from Monday to Friday on your local time. Disputes must be created up to 20 hours after the transfer was completed or expired.

Warranties

A Credit Card Secure Transfer is different from a regular transfer, because if a user fails to make a payment, and the counterpart raises a dispute, a Move My Cash agent can charge the amount previously authorized to the credit card of the user who is 'cheating'. A dispute must be created within 20 hours after a transfer has expired or has been closed.