What Is the Safest Way to Send Money?

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.

Service Fee

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.