Banking

Apps And Services To Send Money Online

Apps And Services To Send Money Online

Unlike several years back, sending money online has now become easy, and in most cases inexpensive or free. You do not have to wait for checks, worry about getting cash or missing.

You do not have to wait to show up physically for checks or cash exchange. Additionally, you can send or receive money from any part of the country or world without going out of your comfort zone.

There are several apps and services that make sending and receiving money online possible, and the best option you go for depends on your needs. Find out more about these services and the way they work.

 

Person-to-Person Services and Apps

Sending funds from your bank account is relatively easy anywhere online. There are several options to harness. Multiple services allow you to link your debit cards to your checking account for a free transfer. And if you choose to pay via your credit y, you may incur a small charge.

If a sender and recipient have an account with a service provider, they can maximize payment services to do a successful transaction. These service providers are among the leading ones around.

PayPal: Almost everybody who engages in online transactions knows about PayPal. But beyond paying on eBay and other platforms, you can also do personal payments with it. People may not need to sign up with a new service since they have a PayPal account. You can link your local bank account with it or create a new password. You can also send money online with a bank account, credit card, debit card, or PayPal balance.

Facebook Messenger: Sending money to your fellow Facebook messenger users got a lot easier with the advent of this app. You can use your PayPal or debit cards to fund the transfer.

Bank bill pay: You can also print and send a check through your bank’s bill pay. You need to be patient for the check to travel via the mail, and even the recipient would have to wait a few days as it might take a few days after the initial deposit before the funds become readily available for use. With this, you can pay family members and friends.

Cash App: This app is relatively popular too, and it supports sending and receiving the money to and from debit cards. You’ll incur charges on your credit cards when you make transactions, and the funds will be generated from your checking account indirectly, while the recipient will receive a credit to their debit card.

Google Pay: This payment service both serves as a digital wallet and a means of sending payments to multiple recipients.

Venmo: This is a PayPal-owned app that also makes payments from your bank accounts. This app is widely used with millennials and messages can be added with every payment you make.

Zelle: This app is a standalone app that is integrated into several bank accounts. With the two options, you can do free transactions and receive quick funds.

Wire transfers: This method is quite popular for sending money from bank to bank. In fact, the term signifies sending money instantly from a bank account to another. While the method can be quite fast, it can be quite expensive. For instance, the Bank of America charges up to $30 for domestic wire transfers. So, if you want to send a huge amount that exceeds the amount permitted by the money transfer services such as Western Union, or apps, then it may be just right to send through wire transfer

 

Money Transfer Services

Services such as MoneyGram, Western Union, and others have provided transfer services in different parts of the globe for years. You’ll also be able to request payments through an app or browser, and you can send money to and fro anywhere in the world, or even send online cash that will be picked as physical money. The services have their different fee requirements and allow you to transact using a credit or debit card, or with real cash at a physical location.

Walmart2Walmart transfer is another option for people considering using a debit card or cash. It allows you to deposit from any Walmart area through the app, to another within the United States.

You can kick off the transfer process with relatively low fees. It goes for as low as $4 for a $50 transfer and to $50 for a $2500 transfer.

Do not do a wire transfer to someone you do not know, and whose legitimacy cannot be vouch for. Most Internet fraudsters use wire transfers.

 

Sending Money Overseas

Most money transfer apps and services, payment services, and banks allow transfer to both local and foreign countries. But you might want a service that has the features of foreign transfers included. You might also want to get services with specific locations which might have reduced charges, but that depends on your needs. 

Some of the widely known options include Payoneer, OFX, Wise (previously known as Transfer wise), and Remity. There are countless alternatives to uncover online, but ensure you verify their authenticity. When you find a few options you are comfortable with, then compare their features. 

Some features of transfer services and apps to consider include:

Their exchange rates. Find out how much the charge is for sending and receiving money. This should include the part of the sender and the recipient. 

And then, the delivery time of funds.

 

Wrap Up

There is a myriad of apps and services to send and receive money online. Many apps will allow you to transfer locally without a fee, but with limited transfer features. You may also want to consider wire transfers as a better option for huge funds to foreign locations. However, in your decisions, consider what option is available to your family and friends and how much it would cost.

 

Frequently Asked Questions (FAQs)

 

Can you send money through Cash App without a debit card?

Cash App has features for linking your bank account as an alternative to using a debit card. You may also want to consider a credit card. Many government-enabled prepaid cards are also a good fit for sending money. But you can use the app with business debit cards, ATM cards, or PayPal cards. 

 

How can you send money online with a debit card?

If you’ll be making use of the debit card as your main fund source, then you should consider finance services like Cash App, PayPal, Venmo, or wallets such as Google Pay and Apple Pay.

 

How much money can you send on Venmo?

With Venmo, you will not be allowed to send more than $300 if your identity is not verified. Once you’ve sorted that, you’ll have a spending limit of $7,000, in addition to a Person-to-Person payment limit of $4,999.99.

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