Did you know the first electric fund transfer was in 1890? Western Union first introduced the concept while others have duplicated and evolved the process.
Over the past 130 years, transferring money has evolved. As a result, it’s more accessible and easier than ever before to the degree that we can now send money online instantly.
In truth, the need to have things more convenient in our lives has created a “last minute” mindset.
For example, if we forget to pay our landlord through a check in the mail, we can send a payment electronically, so we aren’t past due on the rent due tomorrow.
Many things pop up in life, which can cause us to need to do things last minute. Having the convenience of sending money online reduces stress when plans go awry.
Read on for how to send money safely and conveniently.
Venmo
Venmo is an app that is free to download. It can connect to your bank account or credit card to send or receive funds. You are free to send up to $4,999.99 per week.
Venmo is one of the top-rated domestic services with 4.5 stars in the Google Play Store and 4.9 in the Apple App Store. It is a convenient way to go completely cashless. They offer a safe encrypted transfer of your money as well as an optional free debit card connected to your Venmo account.
Venmo does charge you a fee to send money through your credit cards. It also charges you a fee to do a same-day transfer to your eligible bank account, but they give you the option of a 1-3 business day free transfer.
Paypal
Much like Venmo, PayPal is another way to send money online from a bank account. PayPal is one of the most well-known and popular providers, with over 260 million active accounts worldwide.
PayPal is known for its convenience and ease for users. The app keeps a record of transactions that are encrypted.
It is a free app but does charge a fee when you’re receiving money. There are bank fees at times, but PayPal does offer discounts and benefits for loyal users.
Western Union
With Western Union being the oldest in transferring money long distances, it’s no wonder it’s one of the most well-known providers. It’s user friendly in many ways, such as:
- Website
- Mobile App
- Bank Account
- Physical Location
Western Union has extensive coverage with multichannel sending networks. They offer customer support around the clock and are known for their safe and reliable ways to send money.
While many choose Western Union to send money, not all countries have access to their services. There are Western Union fees to be aware of. So, keep that in mind, depending on the service you need.
Send Money Online Instantly Today
While there are many ways to send money online instantly, it’s vital to weigh the pros and cons of your choices. Not all mobile money transfer options are created equal. However, the three options listed above are some of the safest.
For more information on how to send money online, keep coming back to visit our blog. We are constantly updating it with your convenience in mind.