Wednesday, October 23, 2019
Economy

How Best to Send Money Online

There are different ways through which people can send money online. The big question however is what are the best methods. There are concerns of safety and efficiency when transacting money online. This article seeks to look at some of these concerns by looking at some of the viable ways to send money online.

The first tool to use would be Google Wallet. This is a system where Google allows you to send money via email. This method seems to have gained high preference over time because it allows you to send money from any financial institution. In addition, it works by adding banks accounts as well as debit and credit cards.

The only way to determine whether this method is the most suitable for transacting business would be to look at its pros and cons. The positives are many including simplicity, no transfer charges are incurred and the most important being that there is practically no one on Earth that is computer literate and has not heard of Google. Despite its numerous advantages, Google Wallet is not without its challenges some of which include difficulties in accessing your money, debit and credit card fees, as well as the general difficulties Google Wallet experiences in this industry.

The second way that you can use to send money online would be through PayPal. This is another reliable money transfer service provider that has been around for fifteen years. The benefits of sending money through PayPal is the ability to do so anywhere in the world as well as allowing the possibilities of sending the cash to your email address or phone number.

Just like Google though, there is no good thing that fails to have its demerits. PayPal charges a small amount for debit and credit card transactions. It is also known for freezing accounts especially if you are dealing with abnormal fee transactions. The most challenging demerit of all though is the fact that this transfer to bank accounts can take days to process making it very difficult to send money that is needed urgently.

Although only two methods have been discussed, money-sending business is vast. The important thing would be to research on the best methods of sending money. This way you can rest easy knowing that you will send money to the right person at the right time.