How To Send Cash Safely: 7 Transfer Methods

With Venmo, you can use debit or credit cards, but there is a credit card transaction fee. PayPal’s international transfers come with hefty fees, so it’s better for sending money within the U.S. There’s no overall limit to how much you can send when you have a verified account, though individual transactions are generally limited to $60,000 and some are limited to $10,000.

Do I Need A Bank Account To Receive An International Money Transfer?

OFX is a reliable service and a competitive option if you need to send a large amount of money overseas. They offer competitive bank-beating exchange rates, low wire transfer fee, and a convenient online platform. Remitly is rated highly for its customer service and delivers on its promises of providing fair exchange rates with bank-level security.

For regular checks, recipients may have to wait several days before receiving the money. For cashier’s checks, recipients may receive the money immediately after depositing it. For transfers larger than $15,000, you can use the wire transfer option. That method is actually faster and cheaper than the bank account transfers Wise offers, but your bank will likely charge fees on top of the fees Wise charges.

Most apps use bank-level security measures to protect your information. This means your data is encrypted and stored securely on servers that are not accessible to hackers. Even if you need to remit money using a cash pick-up service, you can set it up entirely online. This is where you can review all the details you have provided and then make your payment using the payment method you opt for. They were one of the first Fintech companies to introduce global card-to-card transfers. TransferGo is available in over 50 countries worldwide https://chatonline365.framer.website/ and has 4 million people using its services.

Venmo: Best For Socially Engaging Money Transfers

Additionally, they allow businesses to make payments to clients and suppliers in other countries. Paysend also offers a multi-currency global money account that you can use to hold, send and spend your money from the app using 8 different currencies. With Currencies Direct, you can transfer funds to 120+ countries in over 60 currencies using a card or bank transfer.

That’s one of the cheapest options for sending money abroad, saving you up to 99% compared to other options (especially for large transfers). Wise offers conversions using mid-market rates with an upfront fee on each transfer and no hidden charges. Wise also offers 24/7 customer support if you have questions about your transfer. Since then, I have never used a bank again for sending money abroad.

You can update your payment method before sending money, but you can’t make an adjustment after a transaction has been sent. Once Venmo confirms your identity, you can send up to $60,000 per week. On occasion, Venmo runs a referral program where you can earn a bonus when people you know use your referral link to sign up for a Venmo account. It’s an option for some providers, but there might be a higher upfront fee and your credit card issuer may tack on costs such as interest and cash advance fees. A transfer paid by bank account directly tends to be a much cheaper (and much slower) transfer.

Cash App: Best For Earning A Referral Bonus

Wise uses local bank systems to reduce costs and speed up delivery. Xoom, a PayPal service, is another great choice for those looking to send money abroad. One of its standout features is the variety of funding options available. You can fund your transfers through a bank account, debit or credit card, or PayPal, giving you plenty of flexibility. Western Union, one of the oldest and most recognized names in money transfers, is another reliable choice for international money transfers.

I had to answer a few questions to get in line to talk to a real person. But after a few minutes of waiting, I got a recording that said an agent would call me back in 9-14 minutes. I did get a call back within that time frame; I missed the call, but I got another call within five minutes. I’ll also share advice from money expert Clark Howard on how to keep the money you send online safe.

To make a wire transfer, you’ll need the recipient’s name and address and their bank account and routing information. Call, visit or go online with your bank or a trusted wire-transfer company. Keep in mind that companies may charge a fee for both sending and receiving wire transfers, and rates may increase if you’re sending the money to someone outside the U.S. Banks typically charge high fees for international money transfers.

• WorldRemit is a top contender on this list of best international money transfer options, competing head-to-head with Wise, InstaReM and Remitly.
• The help line and live chat are not open at night or over the weekend.
• When your recipient gets the money order, they will need to endorse it with their signature and deposit or cash it to get the funds.
• Ruth Sarreal is an editor and content strategist covering consumer banking topics at NerdWallet.
• Once you know what’s most important to you, you can compare money transfers and find the best one that fits your criteria.

Always double-check account numbers and contact details before making large transfers. Like the other options on this list, Cash App can be used with different types of devices. Additionally, customers have easy access to customer support via phone, chat, mail, and on social media.

To track your foreign currency transfers, log in to the app or website of your chosen service. From there, you will be able to see the status of your transfer and track it every step of the way. You also have a forward contract feature that allows you to make your transfer in the future (up to 12 months) at an exchange rate agreed today. You can use this Remitly new customer offer to get £10 off with no fees on your first transfer. Based on the data from the website, they moved over $115 Billion in remittances last year, which means you can trust them with your money. Globally, XE allows you to transfer money in 139 currencies to over 220 countries and territories.

This table compares the fees you’d really pay when sending money with the most popular banks and providers, or with us. To choose the best ways to send money internationally, we reviewed several money transfer services. Most money transfer services have per-transfer, per-day or per-year limits. For large transfers, look for platforms like OFX or XE, which have no limits. Limits can also vary depending on the currency or the recipient’s country. But this service gets poor customer reviews and has low transfer limits.

You can, though, use your desktop to check your Venmo account balance and transfer money from your Venmo account to your bank. Venmo also lets you send money by physically “bumping” phones with another Venmo user via a bar code generated in the app. Like many of you, PayPal was the first app I used to send money.

PayPal also offers money transfer protection when making purchases online from other individuals, something Cash App and Google Pay lack. International money transfer involves moving funds from one person or entity to another in a different country. It involves sending money from your account to your recipient’s bank account (which can be your own account as well). It’s often used to send money between friends and family living abroad and for business payments. Remitly is a leading international wire transfer service that offers fast, easy, and secure transfers to 190+ countries worldwide.

We’ll never steer you in the wrong direction just because a company pays us. Compensation may influence how and where products appear, including their order in listing categories. We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. While we cover a range of products, our comparison may not include every product or provider in the market. Always confirm important product information with the relevant provider and read the relevant disclosure documents and terms and conditions before making a decision.

Remittances are increasingly popular, rising by 3.8% in 2023 to $669 billion, with the U.S. the leading sender. The World Bank notes an average transfer cost of more than 6%, meaning that a $1,000 transfer costs at least $60. To choose the best company, Forbes Advisor analyzed international money transfer services, selecting top picks based on fees, accessibility, payment methods and delivery speed. An increasingly popular method of sending money online in recent years is through a mobile wallet. Mobile wallets allow you to store and manage your financial accounts directly on your smartphone by linking to your bank account, debit card, and other financial information. They offer competitive rates for currency conversion, low money transfer fees and convenient, easy-to-use web and mobile apps that make sending money a breeze.

Western Union offers convenient bank transfers, cash pickups, and mobile wallet options to make your international money transfers easy and reliable. OFX only allows transfers between bank accounts, meaning you can’t send a payment using your credit card or cash. This provides an advantage regarding security, as bank transfers are the safest way to send money internationally, eliminating the risk of theft or identity fraud. The disadvantage is that it’s a slower process that can take up to four business days or longer, depending on banking hours and holidays. For sending a large amount of money or for sending money internationally, wire transfers can be a solution.

This is a fast and convenient option if you need to transfer cash urgently. Send money instantly with a debit card, credit card1, or bank transfer payment. In most cases, sending money for personal reasons doesn’t trigger a tax liability, but large transfers may be flagged by financial institutions. If you’re transferring more than $10,000, banks may be required to report it to financial authorities. For business payments or gifts, check IRS rules or speak with a tax advisor. Funding options typically include bank transfers, debit cards, credit cards, or PayPal.

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The first thing you need to do is choose an option that suits your needs to remit your funds. As I mentioned before, the costs are different for every country. You can use this link to get your first 4 WorldRemit transfers for free. Once you’re signed up, you also get access to the Remitly referral program that you can use to refer your friends and earn referral rewards.

Then check exchange rates and upfront fees to find the cheapest way to send money internationally. If possible, avoid paying for your transfer with a credit card because it will likely be the most expensive option. It’s a digital wallet that allows you to send money to people. It doesn’t charge a fee for sending money from a linked bank account, debit card, or your Venmo balance. However, it does charge a fee for sending money from a credit card. PayPal was one of the first online peer-to-peer money transfer services.

Specialist money transfer services are a great alternative to banks. There is no minimum amount for cash and debit card transfers with XE, but wire transfers must be over $3,000. It charges reasonable fees that vary depending on the currency and amount transferred.