IELTS Essay: Online Transfers

This is my IELTS writing task 2 sample answer essay on the topic of online transfers of money to family, friends, and businesses from the real IELTS exam.

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IELTS Essay: Online Transfers

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

Is this a positive or negative development?

An increasing number of individuals today take advantage of online applications to transfer money to friends, family, and various businesses. In my opinion, this is a largely positive development though there is greater potential for fraud, particularly among less internet-savvy segments of the population.

Those who oppose sending money online point out the potential dangers. When transferring money online, there is a chance that one’s password could be exposed to hackers, the transaction may be fraudulent, or the senders themselves might make a mistake in how much money is transferred. Most younger people are able to avoid these complications but older users are particularly vulnerable to fraud. For instance, every year thousands of retired citizens fall victim to identity theft after opening phishing emails and naively clicking on the links inside. Many of these individuals are unable to recover their money afterwards as cybercrime is a complex, international problem.

However, online transfers are tremendously convenient for the vast majority. In the past, a person who wanted to make a transfer to a family member, friend, or business would have to make a trip to the bank, wait in line, and fill in various forms. Not only do online transfers save time but they also allow for greater flexibility. Users can transfer sums to multiple parties, monitor their transactions, cancel them or ask for refunds, and keep their own records with ease. All these features would previously require additional trips and phone calls with a physical bank. In the aggregate, the time saved is a significant factor for individuals and business and the main reason online banking has become the de facto norm in recent years.

In conclusion, individuals must be mindful of potential fraud; however, transferring money online is a clearly beneficial technological advancement. There is little doubt that it will only become more pervasive in the future.

Analysis

1. An increasing number of individuals today take advantage of online applications to transfer money to friends, family, and various businesses. 2. In my opinion, this is a largely positive development though there is greater potential for fraud, particularly among less internet-savvy segments of the population.

Paraphrase the overall essay topic.
Write a clear opinion. Read more about introductions here.

1. Those who oppose sending money online point out the potential dangers. 2. When transferring money online, there is a chance that one’s password could be exposed to hackers, the transaction may be fraudulent, or the senders themselves might make a mistake in how much money is transferred. 3. Most younger people are able to avoid these complications but older users are particularly vulnerable to fraud. 4. For instance, every year thousands of retired citizens fall victim to identity theft after opening phishing emails and naively clicking on the links inside. 5. Many of these individuals are unable to recover their money afterwards as cybercrime is a complex, international problem.

Write a topic sentence with a clear main idea at the end.
Explain your main idea.
Develop it with specific or hypothetical examples.
Keep developing it fully.
You might add a counterpoint here.

1. However, online transfers are tremendously convenient for the vast majority. 2. In the past, a person who wanted to make a transfer to a family member, friend, or business would have to make a trip to the bank, wait in line, and fill in various forms. 3. Not only do online transfers save time but they also allow for greater flexibility. 4. Users can transfer sums to multiple parties, monitor their transactions, cancel them or ask for refunds, and keep their own records with ease. 5. All these features would previously require additional trips and phone calls with a physical bank. 6. In the aggregate, the time saved is a significant factor for individuals and business and the main reason online banking has become the de facto norm in recent years.

Write a new topic sentence with a new main idea at the end.
Explain your new main idea.
Include specific details and examples.
Add as much information as you can and make sure it links logically.
Continue your development.
Finish the paragraph strong.

1. In conclusion, individuals must be mindful of potential fraud; however, transferring money online is a clearly beneficial technological advancement. 2. There is little doubt that it will only become more pervasive in the future.

Summarise your main ideas.
Include a final thought. Read more about conclusions here.

Vocabulary

What do the words in bold below mean? Make some notes on paper to aid memory and then check below.

An increasing number of individuals today take advantage of online applications to transfer money to friends, family, and various businesses. In my opinion, this is a largely positive development though there is greater potential for fraud, particularly among less internet-savvy segments of the population.

Those who oppose sending money online point out the potential dangers. When transferring money online, there is a chance that one’s password could be exposed to hackers, the transaction may be fraudulent, or the senders themselves might make a mistake in how much money is transferred. Most younger people are able to avoid these complications but older users are particularly vulnerable to fraud. For instance, every year thousands of retired citizens fall victim to identity theft after opening phishing emails and naively clicking on the links inside. Many of these individuals are unable to recover their money afterwards as cybercrime is a complex, international problem.

However, online transfers are tremendously convenient for the vast majority. In the past, a person who wanted to make a transfer to a family member, friend, or business would have to make a trip to the bank, wait in line, and fill in various forms. Not only do online transfers save time but they also allow for greater flexibility. Users can transfer sums to multiple parties, monitor their transactions, cancel them or ask for refunds, and keep their own records with ease. All these features would previously require additional trips and phone calls with a physical bank. In the aggregate, the time saved is a significant factor for individuals and business and the main reason online banking has become the de facto norm in recent years.

In conclusion, individuals must be mindful of potential fraud; however, transferring money online is a clearly beneficial technological advancement. There is little doubt that it will only become more pervasive in the future.

Answers

For extra practice, write an antonym (opposite word) on a piece of paper to help you remember the new vocabulary:

increasing number of individuals today take advantage of online applications more people now pay online

transfer send money

various businesses different companies

largely positive development mostly good

greater potential for fraud more of a chance of tricking people

particularly among less internet-savvy segments of the population especially with groups that don’t understand technology that well

oppose are against

point out argue

potential dangers possible risks

chance possibility of

password what you input to get into your account

exposed to hackers vulnerable to online criminals

transaction exchanging money

fraudulent criminal, fake

senders people who are transferring the money

make a mistake in how much money is transferred make errors when sending money

avoid not deal with

complications intricacies

older users people who are older

particularly vulnerable to fraud especially likely to be cheated

retired citizens fall victim people who don’t work any more taken advantage of

identity theft stealing someone’s private information

opening phishing emails clicking open emails that try to trick you

naively clicking on the links inside innocently opening the sites inside

unable to recover their money afterwards can’t get their money back

cybercrime online illegal acts

complex complicated

international problem global issue

tremendously convenient for the vast majority very easy for most people

In the past in the years before

make a trip to the bank go to the bank

wait in line stand around waiting to talk to a teller

fill in various forms write documents

allow for greater flexibility make it possible to do more

transfer sums to multiple parties send money to different people

monitor their transactions watch how their money is being sent

cancel them or ask for refunds void or ask for your money back

keep their own records with ease keep track of their own transfers

features benefits, applications

previously require additional trips in the past need to go there in person

with a physical bank actual location

In the aggregate combined

a significant factor for big element

the main reason online banking has become the de facto norm in recent years primary cause of the advent of online transfers is now what is normally done

mindful of aware of

clearly beneficial technological advancement definitely good innovations

There is little doubt that not much chance that

pervasive very common

Pronunciation

Practice saying the vocabulary below and use this tip about Google voice search:

ɪnˈkriːsɪŋ ˈnʌmbər ɒv ˌɪndɪˈvɪdjʊəlz təˈdeɪ teɪk ədˈvɑːntɪʤ ɒv ˈɒnˌlaɪn ˌæplɪˈkeɪʃ(ə)nz
ˈtrænsfə(ː)
ˈveərɪəs ˈbɪznɪsɪz
ˈlɑːʤli ˈpɒzətɪv dɪˈvɛləpmənt
ˈgreɪtə pəʊˈtɛnʃəl fɔː frɔːd
pəˈtɪkjʊləli əˈmʌŋ lɛs ˈɪntəˌnɛt-ˈsævi ˈsɛgmənts ɒv ðə ˌpɒpjʊˈleɪʃən
əˈpəʊz
pɔɪnt aʊt
pəʊˈtɛnʃəl ˈdeɪnʤəz
ʧɑːns
ˈpɑːswɜːd
ɪksˈpəʊzd tuː ˈhækəz
trænˈzækʃən
ˈfrɔːdjʊlənt
ˈsɛndəz
meɪk ə mɪsˈteɪk ɪn haʊ mʌʧ ˈmʌni ɪz trænsˈfɜːd
əˈvɔɪd
ˌkɒmplɪˈkeɪʃənz
ˈəʊldə ˈjuːzəz
pəˈtɪkjʊləli ˈvʌlnərəbl tuː frɔːd
rɪˈtaɪəd ˈsɪtɪznz fɔːl ˈvɪktɪm
aɪˈdɛntɪti θɛft
ˈəʊpnɪŋ ˈfɪʃɪŋ ˈiːmeɪlz
nɑːˈiːvli ˈklɪkɪŋ ɒn ðə lɪŋks ɪnˈsaɪd
ʌnˈeɪbl tuː rɪˈkʌvə ðeə ˈmʌni ˈɑːftəwədz
ˈsaɪbə kraɪm
ˈkɒmplɛks
ˌɪntə(ː)ˈnæʃənl ˈprɒbləm
trɪˈmɛndəsli kənˈviːniənt fɔː ðə vɑːst məˈʤɒrɪti
ɪn ðə pɑːst
meɪk ə trɪp tuː ðə bæŋk
weɪt ɪn laɪn
fɪl ɪn ˈveərɪəs fɔːmz
əˈlaʊ fɔː ˈgreɪtə ˌflɛksɪˈbɪlɪti
ˈtrænsfə(ː) sʌmz tuː ˈmʌltɪpl ˈpɑːtiz
ˈmɒnɪtə ðeə trænˈzækʃənz
ˈkænsəl ðɛm ɔːr ɑːsk fɔː ˈriːfʌndz
kiːp ðeər əʊn ˈrɛkɔːdz wɪð iːz
ˈfiːʧəz
ˈpriːviəsli rɪˈkwaɪər əˈdɪʃənl trɪps
wɪð ə ˈfɪzɪkəl bæŋk
ɪn ði ˈægrɪgɪt
ə sɪgˈnɪfɪkənt ˈfæktə fɔː
ðə meɪn ˈriːzn ˈɒnˌlaɪn ˈbæŋkɪŋ hæz bɪˈkʌm ðə ˌdeɪ ˈfæktəʊ nɔːm ɪn ˈriːsnt jɪəz
ˈmaɪndfʊl ɒv
ˈklɪəli ˌbɛnɪˈfɪʃəl ˌtɛknəˈlɒʤɪk(ə)l ədˈvɑːnsmənt
ðeər ɪz ˈlɪtl daʊt ðæt
pɜːˈveɪsɪv

Vocabulary Practice

I recommend getting a pencil and piece of paper because that aids memory. Then write down the missing vocabulary from my sample answer in your notebook:

An i_____________________________________________________________________________________s to t_________r money to friends, family, and v_____________s. In my opinion, this is a l_______________________________t though there is g____________________________d, p_________________________________________________________________________n.

Those who o_____e sending money online p____________t the p_______________s. When transferring money online, there is a c______e that one’s p___________d could be e____________________s, the t_____________n may be f____________t, or the s________s themselves might m____________________________________________________d. Most younger people are able to a_______d these c__________________s but o________________s are p________________________________d. For instance, every year thousands of r______________________________m to i__________________t after o______________________s and n____________________________e. Many of these individuals are u______________________________________s as c_____________e is a c_________x, i___________________________m.

However, online transfers are t______________________________________________y. I___________t, a person who wanted to make a transfer to a family member, friend, or business would have to m_________________________k, w_____________e, and f____________________________s. Not only do online transfers save time but they also a___________________________y. Users can t_____________________________s, m_________________________s, c___________________________s, and k______________________________________e. All these f_____________s would p________________________________s and phone calls w________________________k. I_________________e, the time saved is a_______________________r individuals and business and t_____________________________________________________________________s.

In conclusion, individuals must be m_____________f potential fraud; however, transferring money online is a c____________________________________t. T__________________________t it will only become more p____________e in the future.