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JANUARY 14, 2020 / 00:02 UTC
LONDON (Fintech Zoom) – Send Money Online Instantly –
Zelle is a fast and easy way to send money to individuals and businesses via your bank or your bank’s online app. You can get started by enrolling in Zelle with your bank’s app or the Zelle website, and you can use the app to send money from your bank account to almost anyone. Keep in mind, however, that the person you’re sending money to will also have to sign up for Zelle to accept payment.
Zelle is free to use for senders and receivers, so that’s a plus. But some recent reports have shown that Zelle is being used by scammers since money transfers are one-way and not refundable. Before you send money using Zelle, make sure you know and trust the person on the other end.
Venmo is yet another helpful app that lets you transfer money to other people or make purchases with select retailers. Once you sign up, you can use the app to pay people or merchants with money you deposit into your Venmo account or link a bank account for transfers from your bank.
Venmo has become an extremely popular option for people who want to split dinners or cab rides with friends or borrow and pay back money with a few clicks on their smartphone. However, you can also use Venmo to order food or shop online with select merchants since millions of websites allow you to select Venmo as a payment option.
While Venmo is free when you use your balance, your bank account, or a debit card to make a payment, there is a 3% transaction fee when you make a payment using a credit card.
Finally, let’s not forget one of the earliest players in the world of mobile payments — PayPal. On the personal side, PayPal lets you transfer and receive money online or using its mobile app. You can also make purchases using PayPal with approved merchants, and you can link your account with a credit or debit card.
PayPal also offers its own rewards credit cards and debit cards that integrate seamlessly with the app for easy money transfers and purchases. PayPal credit cards, including the PayPal Cashback Mastercard and PayPal Extras Mastercard, let you earn rewards for each dollar you spend.
Unfortunately, PayPal isn’t always free to use. You can transfer money to family and friends using your balance and receive money from them for free, and there is no fee for using PayPal to purchase goods and services. However, you will pay a 2.9% + $.30 fee for other transactions, such as accepting payment from one of your freelance clients.
Google Wallet lets you send money to anyone through their email address or phone number. The money comes from your linked debit card or bank account. Recipients don’t need the Google Wallet app to access the transfer, provided they have a Google Account and a debit card or bank account to receive the deposited funds. Google Wallet doesn’t charge any fees, but you can only send or receive money within the U.S.
With Dwolla, you can send money to anyone with an email address, phone number, or Dwolla ID. You’ll need to link your bank account to Dwolla, and you can keep a balance using the service for future payments. Its features include MassPay, which allows you send thousands of payments at once, and recurring payments.
Dwolla also offers a range of services for businesses and nonprofits; paying $250 a month, for instance, can get a business next-day transfers, higher transaction limits, and priority customer support.
For personal use, it’s now free to send money to someone with Dwolla. The company has dropped a 25-cent fee that it used to charge for transactions over $10.
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WorldRemit is a money transfer service specializing in small transfers of $5,000 or less. By dealing with relatively small transfers, WorldRemit is able to offer faster speeds and greater flexibility than many of its competitors. Users can send money from the United States to more than 140 countries. Funds can be sent in a variety of ways, including bank deposit, cash pickup, mobile app, and mobile airtime.
Fast and easy money transfers—with no fees—that’s the recipe XE has used to become one of the leading international money transfer companies. XE uses enterprise-grade security to handle transactions in 60 currencies across the world, with no minimum or maximum daily transfer. The company allows you to track your account online 24 hours a day, 7 days a week.
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