How To Transfer Money Online

We all need systems to work faster than they do because work is taking more of our time and time and money have become uncomfortably attached. Time has become a luxury and that means we are not willing to wait any minute longer while transferring money to our loved ones. There is no one on this blue planet who has never experienced that moment when they need to send money fast “or else’’.

Stuff happens all the time; especially when you least expect it. Your kid may need money so as not to starve in college, your wife may have just spotted the dress she has always wanted in the boutique, and your brother may become a victim of a pickpocket in Morocco. All these situations call for sending money and sending money fast.

Easy, Cheap and All Online

It is not surprising that in the age of smartphones and Oculus Rift, there is also the option of sending money by swiping and tapping on a gadget. These are indeed exciting times but do not get over excited. There are many companies that promise you a safer, easier and cheaper method of sending money online but not all of them are equal. You have to pick the best company the way you pick apples at your local grocery store. They all vary when you look at the fees they charge, their delivery time and how secure they are.

Of course, in a world where capital literally rules, there is the concept that you only get good service if you are willing to pay good money for it. In online money transfer, you can get good service without having to sell your car. As a matter of fact, the fees charged for sending money online can be as low as $10. Let us look some of the ways you can transfer money online:

  1. Electronic Payment or Wire Transfer

You do not need a literal wire for this money transfer method to work but you do need a bank account. It involves transferring money from one bank account to another bank account. For a successful transfer, all your bank asks for is the recipient’s bank account and routing number and then the money is sent to them after a pricy fee is sliced from your account. The fee could range between $20 to a mind boggling $50, which is enough to buy you those comfortable vans you spotted the other day. The process also takes several hours and may leave you with a bad taste in your mouth especially if you woke on the wrong side of the bed that fateful money-sending day.

  1. Money Transfer Services

Western Union and MoneyGram are the most recognizable brands in the money transfer world. They have been the most trustworthy methods of transferring money especially for people who want to send money to loved ones who are abroad. These services are very important especially when you want to send or pay for something in cash. Their rates are very steep but their services are usually fast, effective and easy.

  1. E-commerce Payments

They include PayPal, Google Wallet, Square Cash and others. They were initially created to help people who buy products online pay for those products easier and faster. These online payment services can also be used to send money and they have apps that make this easier to do using you smartphone. You do not have to worry about monthly fees or start up costs if you opt for these services but you still have to sign up before you get to use them.

The money transfer services listed above are just some of the easy ways you can transfer money online. To get the one that works best for you, do a little research online and ask friends and relatives for advice.

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