Many People Use The Internet And Smartphones To Transfer Money

IELTS Writing Task 2 with sample answer.

You should spend about 40 minutes on this task.

Write at least 250 words.

Today, many people use the internet and smartphones to transfer money to friends, family, and businesses

Is this a positive or negative development?

Sample Answer:

The internet and smartphones have revolutionised the way money is transferred around the world, making it easier, faster, and more convenient for individuals to send funds to their friends, family, and businesses. This has mainly been seen as a positive development, as it has enabled people to make payments quickly and securely. However, there are some negative implications that must be considered.

The main advantage of using the internet and smartphones to transfer money is that it is an incredibly efficient process. Funds can be sent and received almost instantaneously and without significant fees. This means that people can make payments to people they know, or to businesses they are dealing with, without having to wait days or weeks for funds to arrive. The convenience of this process has been of huge benefit to the global economy, as it has enabled people to transact more easily and quickly.

Another positive aspect of using internet and smartphones for money transfer is that it is a secure process. Banks and other financial institutions have invested heavily in secure systems for online transactions, meaning that customers can have peace of mind when making payments. This has opened up new opportunities for people to conduct business online and has made it easier for individuals to send money to friends and family around the world.

However, there are some potential drawbacks associated with transferring money online. For example, it can be difficult for people to keep track of their spending when using online payments, as it can be easy to lose track of how much money has been sent and received. There is also the risk of fraud, as criminals may attempt to intercept payments and divert funds to their own accounts.

In conclusion, the use of the internet and smartphones to transfer money has, on the whole, been a positive development. It has made payments faster and more secure, and has opened up new opportunities for businesses and individuals alike. However, it is important to be aware of the potential risks and to take steps to ensure that payments are secure.