Alternative ways to send money safely

A few years ago, if you wanted to lend money to your friend and your wallet was empty, you would've written a check. Nowadays, there are other alternatives to send money, which are safer and quicker. 

There are many ways to complete informal financial transactions. The most obvious one is using cash: for example, when you grab some dollars from your wallet and give them to your friend or relative. This means, no extra fees, no waiting period, no misunderstandings. But there are other easy ways to send money to somebody, even if they aren’t in the same town.

Bank transfer

You can transfer money from your account to your friend's or customer's account, it doesn't matter if you aren't clients from the same bank. If they have an account in a different financial institution, you'll probably have to pay a fee, depending on your bank's policies. It's worth it if you need a trustable and traditional way to transfer money.

PayPal

You need to have a PayPal account, what's relatively easy to do. You can send up to $10,000 per transaction and it's free if the receiver has a PayPal account as well. You'll have to pay a fee from around 3% if you send money from your debit or a credit card. 

Venmo

Venmo is PayPal's digital wallet app. As you can transfer money in a freeway from your cell phone, it has become very popular. You can use money from your Venmo balance, and send up to $2.999 per week. 

Google Wallet

This digital way is really easy to use. You can transfer money to anyone through their phone number or email address. The only requirement is that they have to live in the US. The service is for free and you can send up to $50,000 per 5-day period, with a maximum of $9.999 per month. 

Xoom

Xoom also allows international transfers to 55 countries. The fees vary according to what country you're sending money to. Xoom has a fee calculator to solve this issue instantly. You can send a maximum of $2,999 per week.

USForex

If you have to send a large amount of money, this is what you need. As they work internationally, you need to know that US Forex works with different currencies, and allows you to lock in an exchange rate before you transfer any money. If your transactions are over $5.000, they charge no fee.

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