What are Card2Card money transfers?

Last Updated on 31/01/2025

Money transfers and payments are among the most popular financial services. For a long time, the only way to transfer money was for the sender to pay cash to a bank or post office. The recipient also had to go to the office of the relevant organization. The development of the Internet and online technologies has moved us far ahead, including in the field of transfers, when such a variant as Card2Card appeared. In this article, we will explain what it is and how to make a card-to-card transfer online.

What is Card2Card?

Card2Card – what does it mean? It’s straightforward. It is a simplified ‘technological’ form of spelling of the English turnover ‘Card-to-Card.’ Other common synonyms you may come across are C2C (Consumer-to-Consumer) and P2P (Person-to-Person).

Card2Card is a technology that sends money online from one bank card to another. The transaction is done by entering the recipient’s card details in a unique interface (Internet Bank, mobile application, payment operator’s portal). A one-time password confirms the transaction, ensuring its security.

Money can be transferred between card accounts to which the plastic carrier is issued and between virtual/digital cards.

Types of Card2Card transactions

Card2card transfers are a financial transaction, which means debiting funds from one card account and crediting them to another.

Therefore, we can distinguish the following types of such transactions:

• Self (Me2Me). You may have several payment cards opened in different banks, and you redirect money from one to another.
• To another person (P2P). From your bank card to someone else’s card.
• Intra-bank. The same bank issues the ‘donor’ and ‘recipient’ cards. Such transfers are usually free of charge.
• Interbank. Different banks issue cards involved in a Card2Card transaction. Such transactions are often subject to a fee—you should pay attention to this when you confirm your consent to the transfer.
• Intra-country. The transaction takes place within Russia’s financial system.
• Cross-border. Card-issuing banks are located in different countries. This is the least widespread and expensive type of card transfer: only a few financial market players provide such a service and charge a decent commission for it, earning on currency conversion.

There are two more types of card-to-card transfers: Push and Pull. The sender initiates operations of the first type, a ‘classic’ money transfer in its essence. The recipient initiates the second type, representing a transaction to top up a bank card from another card.

Benefits of Card2Card Money Transfers

• Speed: Card2Card transfers offer real-time or near-instant processing, ensuring funds reach the recipient quickly.
• Convenience: There’s no need to provide or remember extensive bank details—just card information is enough.
• Accessibility: This method is ideal for anyone with a debit or credit card, making it widely available and easy to use.
• Security: Advanced encryption and fraud prevention measures help ensure your transactions are safe and secure.

Future of Card2Card Money Transfers

The future of Card2Card money transfers looks promising as digital payments continue to evolve at an unprecedented pace. Emerging trends like AI-driven fraud detection and blockchain technology are poised to make transactions faster, more secure, and increasingly efficient.

Speed will see significant advancements with the adoption of real-time settlement systems, reducing delays and making instant transfers the norm. Security enhancements, such as biometrics and multi-factor authentication, will further protect users from fraud and unauthorized access.

Card2Card transfers may integrate seamlessly with mobile wallets and cryptocurrencies, creating a unified digital payment ecosystem. This integration would enable users to transfer funds between traditional cards, digital wallets, and crypto assets effortlessly, expanding the versatility and accessibility of Card2Card transactions.

As technology evolves, Card2Card money transfers will play a central role in shaping the future of convenient and secure financial transactions.

Conclusion

You can save on Card2Card transfer fees if you make them in the online infrastructure of the bank that issued your card. Sending through your bank’s online banking or mobile application will be cheaper than through the resources of third-party payment providers offering such a service. For instance, just as you might look for tips on how to change Badoo location, it’s always a good idea to explore options that save money and time. Take this into account and use online services!