When it comes to getting cash to friends or family members fast, many people turn to wiring services. Thanks to the wonders of technology, transferring funds from one person to another is easier than ever. Whether you’re making a purchase online or need to help a loved one out in a pinch, there’s a solution to get the requestor paid quickly. Consider these simple options for your next transfer:
Rated the best mobile money transfer service and known as the company for starting the “send payment from your phone easily” craze, Venmo is free and easy. You can send payments to anyone with a phone number or email address. When you link your Venmo account to a bank account, debit card or prepaid debit card, with a mere few taps you can send up to $2,999.99 each week. Whenever you complete a transaction, it will appear on a Facebook-like news feed (without amounts), along with your friends’ transactions. Keep in mind – if you use a credit card, you’ll be charged 3% of the transaction.
Perhaps the most popular online transfer service, PayPal, has more than 203 million active accounts worldwide. Often an option when purchasing items online from retailers, PayPal offers free transfers in the U.S. when you fund with a bank account or PayPal balance. Because you are only able to spend what you upload to the PayPal account, you are able to keep a close eye on spending. There are some fees associated with using a credit card or debit card, but all bank transfers are free. Like Venmo, you can send or receive money on the mobile app—but PayPal also offers a website where you can create your own link so friends and family can pay you directly.
Tied with Google Pay for being the fastest solution for money transfers, Zelle is able to get your money where you need it to go within minutes. With more than 200 banks and credit unions already on board, your bank may already be connected to Zelle’s network. Think of Zelle as a true transfer service—it wasn’t made for buying or selling things (like PayPal) and must be tied to a U.S. bank account in order to receive payments.
If you’d like to try another money transfer option, the Netspend Prepaid Mastercard®1 is a great choice to send money to family or friends.2 Simply add money3 to your Card Account and you can send and receive funds with other Netspend Cardholders. With a Netspend Card, you also have access to many other features – including paying bills4, earning cash back with Payback RewardsSM5 and getting paid up to 2 days faster6 with Direct Deposit.
**Netspend is available at most Check `n Go stores. Not available in Idaho, New Mexico, Rhode Island, South Carolina or Virginia.
1 IMPORTANT INFORMATION FOR OPENING A CARD ACCOUNT: To help the federal government fight the funding of terrorism and money laundering activities, the USA PATRIOT Act requires us to obtain, verify, and record information that identifies each person who opens a Card Account. WHAT THIS MEANS FOR YOU: When you open a Card Account, we will ask for your name, address, date of birth, and your government ID number. We may also ask to see your driver’s license or other identifying information. Card activation and identity verification required before you can use the Card Account. If your identity is partially verified, full use of the Card Account will be restricted, but you may be able to use the Card for in-store purchase transactions. Restrictions include: no ATM withdrawals, international transactions, account-to-account transfers and additional loads. Use of Card Account also subject to fraud prevention restrictions at any time, with or without notice. Residents of Vermont are ineligible to open a Card Account.
2 No fee for online account-to-account transfers; transaction fees and other costs, terms, and conditions are associated with the use of this card, including a $4.95 fee for each account-to-account transfer facilitated via a live Customer Service Agent. Use of card is also subject to funds availability. See the Cardholder Agreement for details.
3 Fee may be assessed by reload location and may vary from location to location.
4 Bill payments may be subject to fees. Details about bill payment methods are available in the Online Account Center.
5 Payback Rewards is an optional program. You may opt-out at any time by visiting the Payback Rewards page in your Online Account Center. Reward offers are based on individual shopping habits. Cash back rewards are credited to your Card Account and are not available in the form of a check or other direct payment method. See the program FAQs and Terms and Conditions in your Online Account Center for additional details about how and when you get rewarded. Program sponsor: Netspend Corporation. Axos Bank® and Mastercard are not affiliated in any way with this program and do not endorse or sponsor this program.
6 Faster funding claim is based on a comparison of our policy of making funds available upon receipt of payment instruction versus the typical banking practice of posting funds at settlement. Fraud prevention restrictions may delay availability of funds with or without notice. Early availability of funds requires payor’s support of direct deposit and is subject to the timing of payor’s payment instruction.
The Netspend Prepaid Mastercard is issued by Axos Bank® pursuant to a license by Mastercard International Incorporated. Axos Bank; Member FDIC. Netspend, a TSYS® Company, is a registered agent of Axos Bank. Certain products and services may be licensed under U.S. Patent Nos. 6,000,608 and 6,189,787. Use of the Card Account is subject to activation, ID verification, and funds availability. Transaction fees, terms, and conditions apply to the use and reloading of the Card Account. See the Cardholder Agreement for details.
Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
Card may be used everywhere Debit Mastercard is accepted.