Money transfer from one bank account to the next can be traced back to 1,800 BC. The idea started in Babylon when money lenders would give loans and charge interest. At the same time, Roman and Greek banks were accepting deposits as savings.
Throughout history, banking technology has taken several twists and turns, but the ability to transfer money over the internet has been the most significant change. Online banking started as soon as web-based connectivity became a global thing in the mid-90s.
Is Transfer Money popular?
Transfer Money is probably the oldest method of transacting. It is also the most popular payment system in all countries worldwide. It comes as no surprise that it is the most widely-used payment option for esports betting. Almost all commercial banks today have an online banking platform where users sign up to monitor and manage their finances remotely.
Some banks transfer money electronically without a charge as long as the recipient has an account within the same institution. Others will do it at a fee, but the transfer time is dependent on the amount in question.