How to Transfer Money To A Friend Safely

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If your friend or family is in a bind, or you simply want to give them a gift, you can transfer money from your account to theirs. There are several ways you can transfer money, though, each way has its benefits and drawbacks. You should always be careful when transferring money, especially when using bank account numbers and personal information, so follow these steps to transfer money to a friend, safely and easily.

The first and most obvious way to transfer money is to use your bank. Go to your bank and tell them you would like to transfer money from your account to a friend's account. You will need to know your friends routing and bank account number to transfer the money.

Money transfer companies is an alternative to banks. MoneyGram will wire transfer money to whomever you want. Most retailers have a MoneyGram set up in their store. Simply go the customer service desk and tell them you would like to transfer money to a friend. Walmart is one of many retailers that offer money services like MoneyGram.

The Internet is another alternative for transferring money. You need to be extra careful when using the Internet, though, and sharing bank account information online. PayPal is a great, secure way to transfer money to a friend. You have complete control of the transaction, and is simple and secure. Sign up for a PayPal account, which is free, and transfer money to your friend's PayPal account. If your friend does not have an account, have him set one up. The process can take several days to complete, though, so be aware if timing is an issue.

The last way to transfer money is through the mail. Perhaps not the most ideal way to send money; if you are going to send moniey through the mail, send it by check.

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