The best way of transferring money, whether domestically or overseas, depends on your needs. Whether you want to make a purchase from craigslist, send money to a charity organization or share your bills, transferring money online is easier now than it has ever been. There are tons of service providers that have made it easy to transfer money with an email address or phone number. If you want to Send Money Online here are five of the best ways.
1. Venom - For a great mobile experienceVenmo is more like a social network for transferring money. You are allowed to add friends and view their transactions in your dashboard. It is free to send money across the network if you are using Venmo balance, prepaid debit card or bank account.When using a credit card, you are charged a fee of 3%. Bank transfers take about a day. Venmo does not provider seller or buyer protection. Therefore, it is advisable to use it only with people you trust.
2. PayPal - The most widely usedThere are over 200 million Paypal users from around the globe. Chances are that you have a Paypal account or you know someone who has. The platform allows users to send money in over 100 currencies, and the fees charges depend on currency.You are allowed to send up to 10,000 in one transaction after verifying your account. The recipient does not view your financial information such as bank account or credit card number. It also offers buyer and seller protection.
3. Western Union - Wide international coverageWestern Union offers an extensive worldwide network, which makes it rank highly for international money transfers. It covers over 130 currencies and more than 200 countries. Transfers start at a $10,000 limit, but you can ask for a raise over time.The major limitation of Western Union is the fees. For a standard delivery, you will be charged $5 to selected countries and currencies. If you are not in a hurry, you can opt for a check, which is usually free and takes 10 to 15 days to deliver the money. The recipient will then be responsible for delivering the money
4. Google Wallet - For fast cash outsIt is free to use irrespective of the kind of transfer. What makes it stand out from its competitors is its speed. You will have an awesome experience when sending money to someone who has a debit card as their default payment method on Google Wallet, as it takes a few minutes. If you use a bank account, it may take up to four days to reach the recipient.Since Google Wallet is more like a peer-to-peer method of making payments, it does not offer purchase protection. However, you will not be responsible for verified unauthorized transactions
5. Crosslinks - For affordable international transfers
Crosslinks is an affordable platform for making international money transfers. It does not charge any transfer fees and there is no limitation to many of the major currencies. The time of transfer varies from a country to another, but in many instances it takes a day or two business days.Upon sending money, you receive a notification that helps you track the progress. Crosslinks has installed fraud prevention technology to identify suspicious activity and to prevent users from falling prey to thieves.
There are many ways that you can use to send money online. Before settling for a specific platform for transferring money, consider its features and fees. If you do not like the platform you choose, feel free to switch to a better one.