7 Best Ways To Send Money | Bankrate
In today’s world, sending money has become an essential part of our daily lives. Whether it’s for personal or business purposes, there are various ways to send money quickly and securely. This article will discuss the seven best methods to transfer funds.
1. Bank Transfers: One of the most common ways to send money is through bank transfers. This can be done either online or in-person at a local branch. As banks are highly regulated and secure, this method guarantees a safe transfer of funds.
2. PayPal: A popular choice for international transfers, PayPal is a fast and convenient way to send money online. With its user-friendly app and website, you can create a free account and link it to your bank or credit card to make transactions with just an email address.
3. Western Union: Known for its worldwide presence, Western Union allows you to send money in over 200 countries through their extensive network of agents. You can choose between in-person or online transfers, with options for cash pick-up or direct deposit into the recipient’s bank account.
4. MoneyGram: Another reputable money transfer service, MoneyGram offers similar services to Western Union but may have lower fees depending on your transaction needs. With various payout options available, MoneyGram also provides an easy-to-use online platform and mobile app.
5. TransferWise (now Wise): TransferWise is a popular choice for sending large amounts of money internationally at low costs. Their system uses the real exchange rate without hidden fees, ensuring a fair transaction for both sender and recipient.
6. Venmo: Owned by PayPal, Venmo is a mobile app suited for transferring money between friends and family in the United States. While not designed for international transactions or business use, its casual interface makes it an easy way for splitting costs or sending small amounts of money instantly.
7. Zelle: Offered by many banks in the United States, Zelle provides a secure way to send money directly from one bank account to another. With participating banks, Zelle makes it easy for users to send and receive funds without needing a separate app or account.
These seven methods offer a variety of ways to send money depending on your needs and preferences. When choosing the best option for you, consider factors such as fees, exchange rates, transaction speed, and security to ensure a smooth and hassle-free experience.