Sending money securely is easier than ever with an array of options available to consumers. This article will explore the safest way to send money without revealing your financial information to the receiving party.
Online Money Transfer
The most popular online money transfer service is PayPal. You must be a registered PayPal user to receive money and pay for products and services where PayPal is accepted. You do not have to be a PayPal account holder to send money to a PayPal recipient. Upon receipt, the recipient can use the money to pay for goods and services online where PayPal payments are accepted, transfer the funds into his bank account, or apply for a PayPal debit card and tie his PayPal balance to it, allowing him to shop wherever MasterCard is accepted.
PayPal remains the most cost effective money transfer service in comparison to services like Western Union, Money Gram, and Bank Wires. Paying for a product or service and transferring money between your bank account and PayPal balance is a free service. However, a fee of 1.9 percent to 2.9 percent, plus 30 cents is applied when you are the recipient of payments through PayPal.
- PayPal. “From Everyday Purchases to Running a Business—We’ve Got an App for You.” Accessed Aug. 3, 2020.
- PayPal. “PayPal Transaction Volume Doubles to $2 Billion.” Accessed Aug. 3, 2020.
- PayPal. “Where Can I Use Paypal With Google Pay?” Accessed Aug. 3, 2020.
- PayPal. “Explore Our Credit Cards, Debit Cards, Prepaid Cards and Paypal Credit.” Accessed Aug. 3, 2020.
- PayPal. “PayPal Fees Are Always Fair.” Accessed Aug. 3, 2020.
Fiona Cameron began her writing career in 2004 when she was promoted from her corporate position of technical trainer to technical writer. She offers knowledge management and business documentation services as an independent consultant. Cameron attended school in New York, West Virgina and Philadelphia and has provided services since 2007.