If you want to transfer money online efficiently, the key is to find the right provider. Much of how you transfer money online is decided by where and through what means you choose to send it.
Some of the best providers when it comes to transferring less than $10,000 within the country include:
Square Cash
Square Cash which has a brilliant mobile design and easy method to transferring cash. The focus of Square Cash, unlike other providers, is the customer and his/her transactions. First launched in 2103, the Square Cash app is set to link up to your credit or debit card. It sends money through the website or the mobile, both on iOS and Android phones. Debit card transfers are free of charge. Credit card transfers are charged a 3% fee. Thanks to the design, one can send or receive up to $2,500 quite easily. It also has a feature called $cashtag, where one can receive money securely. Like PayPal, Square Cash has a wallet to store the funds transferred. However, thanks to this cashing out at banks from the wallet takes one business day. If you have to cash out the money instantly, you will have to pay a fee of 1%.
PayPal
PayPal, because of its popularity worldwide and the maximum high transfer offer. With PayPal, if you transfer with a debit or credit card, you will have to pay a fee of 2.9%. However, if you use a PayPal balance, the transfer is free of charge. With PayPal, you can transfer a maximum amount of $10,000 in one go. Transfer time is one business day. You can use either the website or the mobile app on iOS and Android phones.
VenMo
VenMo, because it has the most highly rated app, offers free and effortless transfers, has apps for iOS, Android, and Windows phones. VenMo is owned by PayPal and has a 4.7 rating on Google Play store. On the iTunes App store, it has a 4.5 rating. This is better than every other provider. While a credit card transfer has a 3% fee, debit card, bank account and prepaid debit card transfers are free. The maximum transfer amount on VenMo is $2,999 at one go, or in one week. The money that you transfer on VenMo takes about two business days to be made available in the bank account.
Bank Wire Transfer
Bank Wire Transfer, because you can transfer more than 10,000 dollars within the U.S. However, this comes at a price. A fee of $25 to send, on an average, and a fee of $8 to receive funds. If you are in urgent need of a considerable amount of cash instantly, this comes in handy despite the charges.
Google Wallet
Google Wallet, because it is fast and because of its transfer service provided through email. You can transfer a maximum of $9,999 and receive transferred cash instantly. Also, because it is Google Wallet, you can synchronize this with other Google accounts, and you can then transfer money by clicking on a dollar sign available on your Gmail account.
Walmart-2-Walmart
Walmart-2-Walmart, because it has the best and cheapest non-bank transfer available. It is less expensive than traditional companies like the Western Union when it comes to transferring of straight cash. You can transfer a maximum of $2,500 to any of the 4,500 Wal-Mart stores in the United States. The recipient can pick up the money instantly. You can also transfer through a debit card.
When it comes to international transfer of money online, some of the best providers are:
Xoom
Xoom, because it is the fastest. You can transfer money online outside the country within two days, maximum. Xoom is a PayPal company and is known for sending amounts up to $2,999 to 57 countries within minutes. The fees are high, however, if you use a debit or credit card. Also, exchange rates have a markup anywhere from 1% to 3%, which is quite high.
OFX
OFX, because it is the cheapest way to transfer money online. The transfers are free of any fee and are very convenient. When you transfer, you can either send it at the current exchange rate or choose to send it at a future exchange rate. The transfer will be done as soon as the exchange rate happens. You can transfer a minimum of $150. The transfer will take a few business days.
Western Union
Western Union, has the best transfer options. Western Union is the most significant company in the world to deal with the online transfer of money. It is also known for the variety of options it has an offer to help transfer money. You can transfer money through the website or the mobile app with debit cards, credit cards, agents or bank accounts. It has half a million locations around the world and is present in over 200 countries. However, it is not cheap.
Some of the other providers include MoneyGram which is known for the speed of transfer and TransferWise which provides the best customer service experience.‘Tags: transfer money online’
