18 May
How can I send money online instantly?
May 18, 2021
How can I send money online instantly?
Are you the one looking to transfer online funds to your loved ones? Or you might be the one with an online business and looking for all the possible ways to perform frequent transactions. In both cases, the most important element in choosing the right payment method that suits you and your needs!
Sending and receiving money used to be limited for some time, but now when everything has become digital – digital banking apps and methods have also risen to the next level.
With multiple digital methods and wallets on board, it could be a little tricky to choose the perfect one. Therefore, to help you out with selecting the best payment method – here are the top ways to send money online instantly!
How can I send money online instantly?
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Western Union Money Transfer
Western Union is one of the oldest companies which was established back around the 1800s. Nowadays, most people don’t consider the western union as the fastest money transfer module. However, it has been providing services since 1870 and eases people with online money transactions worldwide electronically.
It allows you to send money within no time via the mobile transfer transaction method. However, the transaction limit and charges depend upon your location, from where you are transferring funds, the transfer method, either cash or online, and the number of funds you are sending.
As the oldest money transfer company, Western Union offers numerous ways to send and receive money. Including online money transfers, sending money through the western union mobile app, funds transactions in person, money transfers at the western union office, and over the phone.
Moreover, you may also send money to any bank account, money gram, or cash wallet easily. The western union also allows its customers to send money using debit, credit, and master cards.
To make the transactions, either sending or receiving money over the Western union, you need to be at least 18 or above. WU also enables you to send money to a particular location for cash pick-up.
Hence the transaction options are vast, and you do not have to worry about fraudulent transactions and delays in payments. The company is well-reputed and service for decades or decades.
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PayPal Money Transfer
You must have heard about PayPal while shopping online from your favourite stores, right? Do you know most online businesses nowadays are using PayPal as a secured and instant funds transfer module?
Millions and thousands of business holders and shoppers are making online funds transfers within seconds over PayPal. Not only e-commerce business, but you may use this PayPal anytime and anywhere to send and receive money to your friends and family in just a few seconds.
One of the most important features of this transaction method is free account setup. Yes, you and millions of other people can register and open their accounts for absolutely free and can do instant transactions that are easy to use and highly convenient.
You just need to signup on to the PayPal official site with the required details and simply link your bank account (either personal or company, depending upon your needs) and card details for payment.
How can I send money online instantly?
Senders then can send money to your PayPal account using your registered email address. You can also send money from your PayPal account to your PayPal account or from a linked bank account to any PayPal ID.
Talking about the transaction limit over PayPal – you can send up to $10,000 to $50,000 per transaction if the account is verified else. Avoid making a lot of transactions in a day because your account can also be blocked in case of fraud or unverified.
Also, the transaction is instant no matter wherever you are, whereas checks might take some time to track the transaction, a maximum of about six working days.
The transaction fee depends on the location; therefore, always check before making and paying via PayPal. For instance, the total fixed charge for US transactions is $0.30 per transaction.
How can I send money online instantly?
On the other hand, if you want to transfer money to an international account holder, then the charges may vary, and you could be charged up to 5% of the total transaction amount.
PayPal allows you to send money via web and mobile apps too. You may download their application from the Apple store or android play store, log in or sign up to your account, and make as many transactions as you want.
The mobile app also lets you keep the transaction track more conveniently.
How can I send money online instantly?
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Venmo Money Transfer
In this digital world where everything is just a few seconds away from us, digital wallets have also become a very popular and safe way to transfer money online.
Venmo is one of the digital wallet applications available on iOS and Android that enables people of every age group to transfer and send money anytime and anywhere within a few seconds.
There is no specific bank account restriction to send money via Venmo. However, to send and receive money via Venmo, both senders and receivers need Venmo accounts. It’s super easy to use, and there are no such hardcore rules to use the Venmo application.
You may register anytime using your email address and phone number.
Talking about the transaction limits over this digital wallet, you may send up to $5,000 per week after the complete identification and verification.
How can I send money online instantly?
Venmo charges a 3% of transaction fee for each transaction you make using a credit card. All the other payment methods are free, whether it’s a debit card, bank transfer, or whatsoever.
This advanced digital wallet offers you instant transactions without any delay and wait. Hence, the money gets received and sent within a few seconds but with a complete verification process to prevent any fraud.
As a digital wallet funds transfer method, Venmo allows its customers to link Facebook and phone contacts. Making it easy for everyone, Venmo allows its users to connect the payment methods like credit cards and bank accounts to send and receive money instantly.
Above, you may also add funds to your Venmo account without any limitation, just like your standard bank account, and can make the transactions anytime you want.
Furthermore, you may send money to any Venmo account holder by referencing their registered email address, the reason of the transaction and the amount in numbers that has to be transferred. The recipient instantly sees the transaction in its Venmo once the sender verifies it.
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Google Pay
Who doesn’t familiar with Google it is for sure everywhere! But not all Google users know about its instant funds transfer services. Google Wallet and Android Pay combine together and make an instant fund transfer module, GOOGLE PAY.
So, you and any other individual (US & India) can now send and receive money anytime and anywhere worldwide within no time. Like all other Google services that we have been using for decades, Google Pay is also advanced and totally free.
Google Pay is currently available in India and the United States only. However, if you are a US or Indian resident, you can easily set up your account without worrying about the initial transaction and registration charges.
Just download the application or go to the Google Pay online web portal, register yourself using a new email address, and you can also log in using your existing Google account.
How can I send money online instantly?
Talking about the transaction limits, Google Pay allows you to send up to $10,000 per transaction, and you may also send this amount every week. Moreover, Floridians can send up to $3000 every 24 hours. Google Pay doesn’t only offer free account setup but also doesn’t charge anything as transaction fees.
You may do small and large transactions without paying anything as transaction charges. Google Pay transaction is instant with debit cards and account balance. Whereas it takes up to 10 working days to transfer from a linked bank account.
You may send money using the Google Pay application and web portal anytime, and it allows its users to link debit cards and bank accounts to make transactions more convenient.
How can I send money online instantly?
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Facebook Messenger
If you are a US resident and looking for an online transaction method other than a bank account, here Facebook comes. Must be wondering if how can you send money through Facebook as it is a social application, right?
Billions of people are using Facebook for so many years but are not familiar with its exceptional funds transfer feature. It’s super easy to use – all you need to have is an active Facebook and bank account.
Facebook takes five to six working days to transfer the money and charges nothing as a transaction fee. The transaction limit works the same as your bank account limits. Just register your bank account and debit card with your Facebook account to transfer money to your family and friends.
How can I send money online instantly?
Just open the Facebook messenger application and open chat with the person you want to send money to. Click the “+” icon, the next dollar symbol, and then click “Pay” to make the transaction. Both sender and receiver need to have active Facebook accounts and linked PayPal and bank accounts.
You may perform transactions using your messenger app and transfer money by logging into your account using a Facebook web application. You need to be a US resident and at least 18 or above to send money.
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Zelle
Zelle is another popular peer-to-peer digital wallet that allows you to receive and send money associated with your bank account. It is one of the fastest-growing digital payment tools with over $500 million last year, 2020.
You may use Zelle from your standard bank account application and can also enroll in the official Zelle app with a phone number and email address. You need to connect your bank account to your Zelle application to make instant transactions.
Both senders and receivers need to have access to Zelle either through their bank account or union credit.
There are no transaction charges on this digital payment wallet, and you are open to sending up to $500 in a week. However, the transaction limit could vary on your associated bank account limits. It takes only a few seconds to transfer funds.
You may now send money to your loved ones in one of the fastest ways. Zelle is not only easy to use but absolutely free to set up your account. All you have to do is access Zelle from your bank app or download the Android play store or iOS store application.
How can I send money online instantly?
One of the famous digital transaction methods is transferring funds through a cash app. Square introduced this application to transfer and receive money anywhere and anytime worldwide.
The cash app is totally free to use and offers you an absolutely free account. Setup with no upfront and installation charges. All you have to do is install the application from your play store or iOS store. Signup with the required details.
Then, link your bank account or credit card with a cash app account to make instant payments without worrying about having a balance in your Cash app account.
How can I send money online instantly?
Talking about Cash app transaction limits, you can send up to $75,00 every seven days. This digital payment application charges 3% of the total amount as transaction charges if you make a payment through your linked credit card. If you transfer funds through other methods like bank transfer, it charges only 1% to 1.5% per transaction. The transactions from the cash app to the cash app are instant, whereas it may take some time in opposite cases.
It’s super easy to transfer funds using the cash app. Just login to your account, add the email address of the person to whom you need to send money, enter the amount to be transferred, and the reason for payment, and then click “Pay.” Of course, you need to have a linked bank account and credit card to transfer funds.
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Apple Pay
World’s largest smartwatches, mobiles, and laptop brand, Apple, is now bringing ease for its customers to send and receive money through Apple Pay.
You don’t need to install a separate application on your phone. However, if you are an iPhone, or iPad user, or a smart apple watch, you may simply transfer payment inside the messages app.
The transactions are super instant. All you have to do is link your debit card with your Apple Pay to transfer funds within seconds. Apple Pay allows you to send up to $10,000 every seven days without paying any transaction charges.
How can I send money online instantly?
You need to be at least 18 or above to use Apply Pay for transactions.
Both senders and receivers need to have access to Apple Pay to perform frequent transactions. The amount you send via your linked debit card goes directly to the receiver’s Apple Pay account. They can further transfer to their linked debit cards and bank accounts for further use.
Methods of sending money online
As discussed earlier, there are different means of sending money online. Different methods but in the long run, they all achieve the same goal of sending and receiving money. Some of these methods include:
- Money transfer services.
- Send money overseas services.
- Bank apps and payment services.
Money transfer services
Western union and related services like MoneyGram have provided money transfer services at some specific locations though in a physical setting for many years. They also allow individuals to receive and issue payment requests online via user-friendly mobile apps or web browsers.
With these services, you can send funds abroad and within countries like the United States. You can send money to recipients online while they go get the cash in person. They only charge a small fee for their services.
Well, if you intend to send cash or you want to use your debit card, you could look at the Walmart2Walmart transfer. Though, this works mainly in the US as it deals with sending money from one Walmart location to another.
Unless you have a Walmart store in your residential country, it might be inaccessible for you. They have an active app you can use. The transaction fee deduction is low. If you want to send up to $2,500 and you will incur a charge fee of just $16. That’s just 0.64% of the money you sent.
If you are considering using a wire transfer, you should be sure that the person you are sending money to is trustworthy. Con artists often use wire transfers as a means to con people.
Send Money Overseas
Almost every payment service and bank alike avail you the option to send money to other countries and within your country of residence. For this kind of transaction, you would probably like to use a service that was created to do this specific kind of transaction. These services depending on your need are relatively cost-effective.
Two of the renowned services for overseas transfers are OFX and TransferWise. Before you opt for any service to send money overseas, be sure to confirm its legitimacy. Do thorough research. When you have satisfied your curiosity you should watch out for these features so you don’t end up making a bad decision:
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- The exchange rate
- The charges involved in the transaction
- Mode of reception
Bank apps and Payment services.
When it comes to how to send money online, your options are countless. Various services avail you of the opportunity to send money online free of charge, especially from your bank service provider. When you use debit cards that are associated with your bank account directly, you can send funds for free. Using a credit card attracts charges, though it’s not unbearable.
Several payment options serve to meet different needs. It is worth noting that virtually all payment services require that both parties (sender and receiver) have an account with them. Some of these apps and payment services include:
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- Apple Pay
- Cash App
- Google Pay
- Zelle
- Venmo
- PayPal
- Facebook Messenger
- Popmoney
Apple Pay
This one works mainly for those who use any form of Apple device. It could be an iPhone, Apple Watch, iPad, etc. If you use an Apple device, you can easily create an Apple Pay account. You can credit, debit, or store cards on your account. You can use them to send money to anyone.
Over one week, the maximum amount you can send via your Apple Pay account is $10,000. The Apple pay account can be used to make payments in different countries but you can only use it for transfers from the U.S.
It works like the messenger, you initiate a conversation, click the Apple Pay logo and specify the amount you want to send, then click on pay to process the transaction and you are done.
Cash App
When you use the cash app to send and even receive money, it is free of any charges. To use the cash app, all you need to do is download the App from your android or iOS mobile store.
The next step is to create an account, once you do that, you automatically have the option to request money and send money to friends and family instantly. On the app, you choose a screen name called a $Cashtag.
To send money to people, all you need is their $Cashtag, phone number, or email address. Money can be sent just a few clicks away. This app can be used anywhere, you can send money to anyone in the U.K. or the U.S. using this app.
Google Pay
With Google pay, you have the opportunity to send money to people using their phone number or their email address. The money would have to come directly from your bank account or a valid debit card attached to the account.
The receiver doesn’t need google pay to have access to the money. All they need is to have a Google account and a valid debit card connected to a bank account that can receive the money. Just like Facebook messenger, Google pay is free but it only works in the U.S
Zelle
Some individuals have always assumed that the only bank that allows you to transfer money for free using the Zelle platform is Chase. That is not the case though, there are many other banks on the Zelle network. These banks allow you to make secure transactions and you can use these banks to benefit from the Zelle.
You can send money using your bank and benefit from the Zelle app. Using the Zelle app all you need is the recipients’ mail address or phone number and you can use that as a means to send or receive money from your bank account. You don’t need to disclose any account details when you send money.
Chase, Bank of America, and Wells Fargo are just some of the financial institutions that provide this service. If the recipient bank is not on the Zelle network, it is not an issue you can still send or receive money via this service using the App.
Venmo
Interestingly, the Venmo app does more than just transfer money, they can also do some other affairs like using your phone to pay active businesses. Venmo is one of the apps which PayPal owns. It provides users with chat platforms like social media apps. On Venmo, you can connect with friends and share your transfer history with them.
If you want to use Venmo to transfer money without attracting any charges, Venmo allows you to use a funding source like funds you’ve received via the app or funds in your bank account.
To use the Venmo app to send money to others download the app, open it then create an account. When you choose an amount you want to send, you must attach a note before you complete the transaction. You can send funds only to Venmo users. Venmo can be used only in the U.S. The maximum amount of money you can send in a week is $5,000.00.
PayPal
If you own a personal account on PayPal, you can send money to other people’s accounts for free. You can fund your Paypal account from your bank account. Payments can be made with either a debit or credit card.
It is easy to use with a smooth interface. All you need to send money is the recipient’s mail address or phone number and specify the amount you want to send. You can use the mobile app or do it directly on their website. To receive money using PayPal, you need to have a PayPal account of your own.
Sending money with PayPal is free but receiving money attracts a penalty of 2.9%. You can use this app to send money to foreign countries, but by doing that you will also incur a fee. This fee varies depending on the payment method and the amount you want to send.
Facebook Messenger
Facebook Messenger is more than a social interactive platform. With the messenger, you get to send money to someone in a message. All you need to do is, initiate a conversation with the recipient and click on the dollar sign.
Select “Next”, provide your debit card details and by clicking on pay, the transactions will be duly processed. On the recipient’s end, he or she will need to add the correct debit card details. The fund takes about 3 days to be accessible. This works only in the U.S. both recipients have to be residents of the U.S.
Popmoney
This platform provides you with one of the simplest ways to send funds using your mobile device. You just need an email or a phone number that is attached to an active account with a bank enlisted on the Popmoney network.
Some of these banks include U.S. bank, Bank of America, and SunTrust bank amongst others. The charge fee is only 95 cents, that is if you don’t have a Popmoney account. On signing up, you are eligible to send money for free.
One of the attributes of this platform is that the recipient is not required to have a Popmoney account before they can receive money. They give notifications via email or text message. The recipient just needs to provide their bank account details and mobile details and they get their money deposited to them securely. Payment doesn’t exceed 24 hours.
How can I send money online instantly?
Conclusion
When it comes to sending money online to friends and families your options are limitless. Using apps to send money domestically allows you to send money free of charge. The only constraint might be that the amount you can send may have limits.
To send a very large sum of money overseas it is preferable to use the wire transfer method.
When you want to get the best service, it is important to consider the apps your friends and family use for their transactions. It is also important to know the cost of using those services as well. Review all the services carefully and then go with the desired one.
