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Figuring out the best way to transfer your money can be frustrating, and sometimes feel impossible. Not only do you have to learn what kinds of services there are, you have to figure out which one works best for you. To help you figure it out, we’ve created an easy-to-read guide on some up-and-coming ways to send money that aren’t traditional bank transfers or money transfer services.
Having the ability to safely and easily send your money is something that can make a huge difference in your financial and personal life. Paying bills or sending money the traditional way means a wallet full of cash and costly, time-consuming trips to your not-so-local bank branch. Not to mention, around 27% of Americans are classified as either underbanked or unbanked, making money transfers using bank services unfeasible.
Money transfer services mean that one person can cover the dinner bill while the other person taps a few buttons on their phone for instant reimbursement. For larger amounts, you can send an email and pay from the comfort of your own home. Instead of making the trek to your bank or going through the stress of finding exact change, you can use your phone or computer and pay in seconds.
Don’t forget to check our site for updates on more ways you can be smarter about sending your money.
Service | How Fast? | Credit Cards? | International Transfers? |
---|---|---|---|
Walmart-2-Walmart | Domestic: Can pick 10 minutes or 4 hours. International: One business day, although there is a same day option. | Accepts credit cards, but charges a fee of around $10.00. | Available to over 200 countries worldwide. |
Squarecash | Depending on your selected preferences, the money will immediately be in your Squarecash account or transfer to your bank. It is guaranteed to transfer to your bank for free within one business day. Alternatively, you can pay 1% of the deposit and the money will be instantly available in your bank account. | Accepts credit cards, but charges a 3% fee with each transaction. | Only available in the U.S. |
Venmo | Money is transferred immediately into your Venmo account, but usually takes one day to transfer into your bank account. | Accepts credit cards, but charges a 3% fee with each transaction. | Only available in the U.S. |
Google Wallet | When using a debit card or your wallet balance, the transfer is usually instant. However it can take up to four days to transfer if you use your bank account. | Accepts credit cards, but charges a 2.9% fee with each transaction. | Only available between the U.K. and the U.S. |
Although the money is transferred right away, it can take up to five days for it to be made available in your bank account. | Does not accept credit cards. | Allows transfers between over 125 countries. | |
PayPal | It takes 3-5 days for the money to transfer into your PayPal account, and another 3-5 to transfer into your bank account. | Accepts credit and debit cards, but charges a 2.9% plus $0.30 fee for both | Supported in over 200 countries worldwide. |
PopMoney | Takes about three days for the money to transfer into your bank account. | Does not accept credit cards. | Only available in the U.S. |
Transferring money from WeChat Wallet to WeChat Wallet is instantaneous, but how long it takes to transfer that balance into your bank account varies bank-to-bank. | Accepts credit cards. | International transfers are available between mainland China, Hong Kong and South Africa, but WeChat has announced plans to expand into America soon. |
If you’re not convinced that any of these emerging ways of sending money are for you, don’t forget that online money transfers are still available. Sending wire transfers is still an easy way to send money to someone, and you can do it for free with many services.
Join Boss Revolution with an email address and phone number, and send money within minutes.
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