Sender
Find a term in our glossary
Sender
Sender is the person or entity that is sending funds. They initiate the transfer process and typically provide the necessary funds, as well as information for the transfer: their personal details, the recipient’s details, and the amount being sent. The sender’s role is critical in ensuring that the transfer instructions are clear and accurate, reducing the risk of transaction errors.
By verifying the recipient’s information and specifying the transfer amount, the sender helps safeguard the integrity of the transaction and ensure its successful completion. Additionally, senders must often comply with regulatory requirements designed to prevent fraud and money laundering, further emphasizing the importance of their role in the financial transfer process.