5 Ways to Send Money to Someone in 2021

Send Money to Someone

At times, people need to send funds to loved ones in financial trouble, or maybe a loved one has a time-sensitive investment opportunity but lacks the funds. Whatever the reason, you should know how to send cash to someone.

1. Paypal

One way to send some money is through PayPal. Ideally, your friend or loved one is going to have an account with this company to receive the money. Now, there are a few drawbacks. You can’t send cash if that’s what your loved one needs. Your loved one will have to transfer that money into his or her bank account or get a PayPal debit card. Your loved one could also have a check mailed to them, but this can take two weeks.

2. Wire Transfer

Another thing you can do is simply use your bank wire transfer service to send some money to a loved one. This process takes time, and it can be quite expensive, but if it’s an emergency, then it works. Again, it’s easier if you both share the same bank account, so try to keep that in mind. Additionally, a wire transfer does mean your loved one will need to visit one of these banks if he or she doesn’t have a card. This could be inconvenient depending on your loved one’s situation.

3. Western Union

A trusted way to send funds is through Western Union. This company gives you all the options you might need. You could have the money deposited in your loved one’s account, or you could have the money picked up by your loved one at a Western Union. There are a lot of these companies around the world, so the likelihood of your loved one finding one is high. This is a good way to send cash if you two don’t want to deal with banks or can’t. The fees to send money isn’t too bad, so it’s definitely a good option.

4. Check or Money Order

The other thing you could do is just send a check or a money order to your loved one. Now, this one isn’t all that desirable to folks because the money won’t get there for a few days. You are going to be using regular mail to send this check to the person. Of course, you’ll also want to think about purchasing insurance on your mail to make sure it’s safe. This option is a good idea since these can be cashed at various places. Your loved one will need a valid address, and if your loved one is staying in a hotel, be sure your loved one informs them of the incoming mail.

5. Gift Card

There are many gift cards out there, some with the Mastercard or Visa logo on them. Any of these cards could be used as money, and if that’s the only way to send funds to your loved one, then so be it. You could mail the gift card, or you can purchase an online gift card your loved one could use online just like real cash. This is a good idea if you don’t want to go through banks. You could purchase gift cards at major retail stores and sometimes even grocery stores if you don’t want to buy the card online.

You’ve got several ways to send some cash now, so figure out which one will work best for your needs. There are probably more ways to send cash that’ll come up soon, so keep paying attention because making the task easier is always the goal.

The views expressed in this article are those of the authors and do not necessarily reflect the views or policies of The World Financial Review.