Ways To Transfer Money

Best Ways to Transfer Money

In this technology-driven and digitally connected world transferring money in the traditional ways seems a bit old-fashion as there are so many fast and instant methods being developed for financial transactions. But this does not mean that the old ways are not still viable options like peer-to-peer by cash, draft, checks are still used by a large number of users as they are still applicable. Nowadays with the advanced reach of the internet, almost everyone is using online peer to peer with mediums such as Cash App, Zelle, and Venmo that make it easy to send money to friends and family instantly without any extra charges. 

Depending on how much you are sending and whether you want to send it domestically or internationally the best way to transfer money can vary from user to user. 

Following are some of the best ways to transfer money: 

Cash Money Transfer 

A cash app application is the most reliable way to send money. In this method, there is no limit or transfer fee, however, it involves a long waiting period depending upon the geographical conditions. With cash application, it is difficult to keep the history of transactions which sometimes becomes necessary to have for further reference and other purposes. But there are also some advantages of the cash app application as it can be the most practical option in some circumstances, and there is no chance of transfer failure.

Money transfer with Bank

You can easily transfer money with the bank in which you are holding an account. For instance, if you want to send money to your friend and she has an account in the same bank as you have you can send money from your account easily. However, you may have to pay some amount fees for sending to a different bank or financial institution.

You must have an account or routing number of the users for online transfer with the bank. There are some banks like Western Union and MoneyGram that allow account holders to send money to a different city, or state, and free online transfers using email addresses. 

Peer to peer money transfers

Peer to peer method is also emerging as the most sought-after option for online transfer with applications like Paypal, Google Pay, and Zelle allowing instant cash app online transfer. 

Cash App best (P2P) online transfer app that stands out among others such as Venmo and Zelle because of its advanced features such as free money on the cash app, direct deposit on the cash app, and cash app card activation.

With direct deposit, money can be transferred to the bank account of the user.  As Cash App does not support international payment It’s only best for sending money within the U.S and UK.  To use the peer-to-peer online transfer on the cash app users need to first create an account for the Cash App login.

There is also a Cash App limit which means users can send only a limited amount of money with basic accounts. The Cash App increase limit is possible after cash app account verification.

Money transfer with cheques:

The online transfer is also done through checks. For this, you need to fill the cheque with details of your name, account number, status payee, and most importantly your signature.

There are different kinds of cheques that can vary on the requirement of the user. Online transfer with cheques is considered safer with cheques as compared to cash application. Because you have the option to cancel it if it doesn’t arrive at its destination.