There can be a whole host of reasons why you may need to send money to friends or family. It may be a special birthday that you want to celebrate even though you are not there or money is needed to bail them out of financial trouble. As well as wanting to find ways to do it quickly, you will also be needing to find the most secure ways to do so. This will help to protect not only your personal details but also the funds that you are wanting to transfer. In the world we live in, it is important to do all you can to stay safe and ensure that your money does also.
What are the most effective ways to send money to loved ones when they most need it?
Amazing ways to transfer money easily
If you are wanting to find out the most secure and simple ways to get money to loved ones, then the below tips should help:
- Online FX companies – one of the most popular ways to send or receive money now is via online foreign exchange companies. This way of conducting an online money transfer is advised as it involves no fees, higher exchange rates usually, and is totally secure. The transaction times are also normally much quicker than using other methods such as bank transfer.
- Bank transfer – before the popularity of online money transfer companies, most people simply used their normal bank to make payments. This is still possible and has the advantage of being simple and hassle-free. However, the money that you send can take days to arrive and there are also banking fees applied to each transaction.
- Online e-payment solutions – another online method of making payments now is via online payment apps such as Zelle. These are simple to use, and it is normally free to create an account. The transaction times are quick here, but you have no chance to search out the best exchange rate to use as with comparing FX companies, and there are also fees applied to each payment.
- Cashier’s check – if you would rather go old-school, then you could use cashier’s checks. These are checks issued by your bank and sent to the recipient to cash their end. While these are safe and easy to sort out, they are not the quickest and don’t give you access to the best exchange rates around when the check is physically cashed.
Make sure that your money gets there safely
Any of the above payment solutions can be used to make sure that any money you send gets there safely. While they all have their individual plus points, they are all great at helping to make sure that any transfers you make are totally secure. The next time you need to let that friend or family member have some cash, check them out to see which is the best one for your particular needs.