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Sending Money

Due to the booming money transfer industry, sending money online need not be complicated or expensive. Instead, there are plenty of straightforward and affordable options to choose from. That is, if you’ve done your research and find the right method of sending money for your needs: we can help you here. In our Sending Money guides, we will break down some of the best ways to transfer money, albeit online or in-person, as we provide an overview of the most recommended money transfer companies that can help you find the best deal for your money.

Updated: 27/09/2022
Read time: 25 minutes
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How to send and receive money online?

How to send money to someone without a bank account
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In this article, we’ll look at whether you can send money without a CVV code, and potential alternatives if you don’t have access to your card. What is a CVV code? The CVV (Card Verification Value) is the three digit number on the back of your Visa or MasterCard debit or credit card. On American […]
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3 Main Ways to Send Money Online Explained
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Debit cards are one of the most popular ways to transfer money, we explain why and how to use a debit card for money transfers.
Send Money to and From a Bank Account
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There's a lot to consider when looking for the best money transfer provider. This guide will take you through everything you need to know.
Should I use my Bank for International Money Transfers?
Are banks the best option for international money transfers? Here we discuss how to transfer money abroad efficiently.

Using money transfer services

Ideal for sending money internationally, money transfer services have made huge strides in the past couple of decades to make sending your money abroad cheaper, faster, and easier than ever.

With a number of transfer providers placing a huge focus on their digital presence, you can now access your account and initiate international transfers 24/7 from your mobile app, with the possibility to send or receive funds from the otherside of the world within minutes.

Money transfer services work by users signing up to a free account, and then enter the details of the transfer. Most providers have a number of payment options such as bank transfer and card payments.

Using a trusted provider

Whether you’re paying bills abroad, supporting family members back home, or something else entirely, transfer providers like WorldRemit are one of the best ways of getting your money abroad cheaply, quickly, and securely.

What are the benefits of money transfer providers?

Money transfer providers are one of the most popular ways to send money online because:

  • They tend to have lower fees than traditional banks
  • They offer more competitive exchange rates
  • They can get your money to your recipient within a number of minutes in some cases
  • Many companies support transfers to hundreds of countries worldwide

Person-to-Person apps and services

There are multiple services that will allow you to send money for free straight from your bank account to another person. Usually, these services or apps give you the option to link your bank account or you can pay by card (credit cards will usually have a small fee).

Top sending apps include:

  • PayPal: One of the most popular ways to send money online to friends and family as well as paying for online purchases and subscriptions, PayPal is one of the most well known payment services online. A bonus is that most other people will already have a PayPal account to save the hassle of setting up a new account when you need to get money to someone. When sending money domestically, most PayPal transfers are free.
  • Venmo: Available in the US only, Venmo is a free payment app that transfers funds from your bank account or debit card and can be sent using your recipient’s username, phone number, or email address. Venmo is popular with the younger generation particularly because it allows messaging with each payment.
  • Cash App: Cash App is another popular app for sending and receiving money online with no fee. To send money, you simply need your recipient’s username, phone number, or to scan their Qr code. Cash App is only available in the US and UK.
  • Zelle: Zelle is a US peer-to-peer service for bank transfers, offering fast and free bank transfers to customers whose banks are partnered with the service. To sign up, you need to register directly on Zelle via the app, and you can then send money directly from your bank account to your recipient.

What are the benefits of person-to-person sending apps?

For small, domestic payments between friends and family, the apps listed above are some of the most efficient ways of getting your money to someone quickly and cheaply. The one caveat is that often both parties will need to have an account for the app you are using.


Of course, another option for sending your money online is to use your bank. If you are looking for a straightforward bank to bank transfer, using your bank’s online app can be a convenient way to do this.

Convenience or cost?

It’s worth noting that banks will often have higher fees than third-party services. If you are sending your money abroad, for example, a money transfer provider will almost always have lower fees and better exchange rates.

What are the benefits of sending money online with your bank?

Sending money online with your bank can be a convenient way of getting your funds to your recipient as you don’t need to sign up to a new account with a third party provider. However, banks also tend to have the highest fees associated with money transfers (particularly international transfers), and slower transfer times.

How can I send money online instantly?

It’s important to know that not all online money transfers will be processed instantly, so if you need to get your money to someone urgently, you should first make sure the service you are using can facilitate this. A number of things can affect how quickly your transfer is processed, including:

  • Where you are located
  • Where you are sending funds to
  • What payment method you select (bank transfer can sometimes take longer than a card payment, for example)
  • How you choose for your recipient to receive the funds (cash pick ups are often available very quickly)

Our guide to sending money instantly covers some of the top services to use for rapid transfers anywhere around the world.

Send Money Instantly
If you need to send money online urgently, we can help you discover the best ways to transfer money instantly.
Fastest Ways to Send Money
With online banking making accessing your money as instant as sending a text, you’d be forgiven for assuming transferring your money abroad from a bank account would be just as quick. However, transfer speeds can vary depending on a number of factors – and you bank account might not be the best option to send […]
Fastest Ways to Send Money
Sending money abroad can sometimes take a while, here we look at the fastest money transfer services.
How Long do International Money Transfers Take?
Here we discuss why the speed of money transfers differ and which money transfer providers offer the fastest services.

Sending money online with a debit card

Paying by debit card to send money online is a popular choice for many people looking to transfer money. Essentially an extension of your bank account, paying by debit card is a widely accepted payment method and means the funds will leave your account near instantly, which means you’re not borrowing money to send a transfer.

However, keep in mind that sending money via debit card can incur higher international transfer fees than some other means. Our full guide to sending money with your debit card will take you through the pros and cons in more detail.

How do I transfer money to someone else’s bank account?

The steps to transfer money to someone may vary slightly depending on what method you use to send money online. However, generally speaking, the process will be relatively similar and straightforward:

Step 1: Choose your provider
Step 2: Create your account
Step 3: Enter the details of your transfer
Step 4: Double-check the charges
Step 5: Start your transfer

What details do you need to transfer money online?

Although your provider will no doubt guide you through the process of sending your money online, it’s helpful to have all the details you’ll need prepared ahead of time. For sending money online, you will usually need the following details of the person or organisation you are sending to:

  • The name of the person (or organisation) you are paying
  • The bank account number of the account you are paying into
  • The sort code of the account 
  • The date you want the payment made
  • The sum you are sending
  • If sending internationally, what currency you need it converted into
  • A payment reference so the payee knows where the money came from
  • Occasionally, the name and address of the bank you are sending to
  • In some cases, the IBAN/BIC codes of the account you are paying into

In addition, you’ll need to provide some details about yourself. This typically includes:

  • A valid form of ID such as a passport or driving license to verify your identity (may not always be required)
  • If paying by bank transfer, your full name as it appears on the account, bank account number, and sort code/BIC/SWIFT code
  • If paying by card, the long 16 digit number on the front of your card, the expiry date, and CVV security code

Read our guide on sending large sums of money internationally for more information on the documents you may need if sending a larger amount abroad.

Other payment methods for sending money online

Sending money via bank transfer can be a convenient way of electronically transferring funds between two bank accounts, but it’s not always the quickest way to get your money into your recipient’s hands.

Other ways you can have your payment delivered to your recipient include:

Cash pickups or delivery

Cash is one of the fastest ways to get your money to your recipient. Not all money transfer providers offer this service, so make sure it’s available before locking in your transfer. A few of our top recommended providers that do offer cash payouts include WorldRemit and Ria Money Transfer. 

Fast and easy pick up

Depending on what provider you use, you may be able to choose between having your recipient pick up the cash at an agent location, or they may get the funds delivered directly to their door. Cash pick ups are often available instantly and have low transfer fees.

Mobile wallets

Many money transfer providers have a large digital focus with user-friendly apps to make managing your transfers accessible 24/7. One popular payout option is to send your funds to a mobile wallet, which your recipient can access if they also have an account with the provider you are using.

About Wallet by BudgetBakers Bank It has raised $434K in funds from four investors who are Rockway Capital, Petr Zamecnik, Ivan Svitek and Startup Yard. The app is also regulated and authorized by the Financial Conduct Authority, which indicates that it’s safe for the general public.  Can I use Wallet by BudgetBakers for international bank […]
About Skrill In some ways, Skrill is unique in its market positioning. It’s not an uncommon payment service for primarily online businesses. Alongside PayPal, it’s interestingly one of the most common transfer services used by online casinos. At a glance, Skrill seems to offer low rates and several special bonuses. They also have their own […]

Mobile top ups

Some money transfer providers even offer the option to send money in the form of a mobile top up. This can be helpful if, for example, you are sending money back home to family and paying for their mobile so you can stay in regular contact is part of why you are sending money home.

How To Send Airtime
What is airtime? Sending airtime, or purchasing airtime top up, refers to the process of adding credit to a recipient’s phone plan. This form of money transfer is popular around the world as it allows customers to remotely reload the balance of a recipient’s phone credit, which can come in handy in an emergency or […]
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Money orders

How Do Money Orders Work in Canada?
What is a money order? Pre-internet, many people around the world had no choice but to send money in the mail, albeit cash or cheque. The first known instance of a money order (also known as a postal order) dates back to the late 1800’s, when the U.S. Postal Service began issuing them so people […]
Guide to International Money Orders
What is an international money order? A money order is a piece of paper, similar to a cheque, which is used as a method to make payments overseas. It is a safe alternative to cash and even personal cheques. On the money order, it is specified who will receive the money and both the payer […]

How much money can I send abroad?

How much money can you transfer online?
Where are you sending the money?  Recognising how the destination impacts the limits of your transfer, will give you a better understanding of what sort of minimum and maximum amounts are able to be sent and received. We have outlined the key differences between a domestic and international money transfer below. Domestic transfer These types […]
International Money Transfer Limit Irs
When sending or receiving an international money transfer, it’s useful to familiarize yourself with the regulations that apply to you and the other party. This includes transfer limits, tax regulations, and whether you need to declare the transaction to any regulatory bodies.
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It is important to consider everything when sending large amounts of money abroad. Here we discuss why and how we can help.

How much does it cost to send money online?

Cheapest Way to Send Money
There are numerable ways of sending money abroad. Here we discuss the cheapest options.
How to send money abroad for free
What is a free money transfer?  There are a lot of external factors that dictate whether a money transfer will be “free” and one of these factors is destination. Domestic transfers, for example, are typically free regardless of the financial provider, because the money is simply being sent between two accounts in the same country, […]
The Cheapest Way to Send Money to Europe
Europe is home to 44 countries, but not all of them use the euro. This makes sending money to the continent less straightforward than you may have originally anticipated. Those looking for cheaper alternatives when sending an international money transfer, must always consider the destination country, currency and costs involved. To reduce the cost of sending money to Europe, we have put together this guide which outlines the best ways to save money on European remittances. 
How to Avoid Bank Charges for International Transfers
Bank charges can drastically affect the value of your international money transfer, so it pays to be in the know. In this guide we will outline how to steer clear of the types of fees which commonly catch customers out.
Understanding Free Money Transfers
The wide variety of global service providers offering “free money transfers” can appeal to those searching for the best deal. However, nothing in life is free, and in a bid to reduce any disappointing outcomes, we outline what to expect when dealing with free money transfers.
Top 10 Money Transfer Companies
Finding the right money transfer service is important. We compare the top 10 money transfer providers.

What is the best way to send money online?

The best way to send money online will vary depending on the circumstances of your transfer. Different providers will be more suitable if you are sending money domestically compared to if you are looking to send money abroad, for example. 

A few of our top recommendations include:

✓ Best for international transfers to friends and family

When sending money abroad, a money transfer provider is almost always the cheapest and most efficient way to get your money securely to your recipient’s bank account – without losing a large percentage of the transfer amount to transaction fees.

TransferGo, for example, has a fixed free structure that is clearly displayed when you enter the details of your transfer, with a range of options that allows you to prioritise cost or speed. One of their biggest advantages is the company’s 30 minute transfer option when sending money from the UK, with the option for weekend transfers.

Ultimately, the best money transfer provider for your international transfer will depend on the circumstances of your transfer. That is, where you are located, where you are sending money to, the sum you are sending, and the payment and payout methods that best suit you and your recipient. We always recommend using our innovative comparison engine to find the best option for you.

✓ Best for domestic transfers to friends and family

For sending smaller amounts to friends and family, a peer-to-peer app will often be the most affordable and faster way to get your money to the receiving account. Popular apps well-known for their user-friendly interface and free transfers include:

  • PayPal
  • Venmo (US only)
  • Cash App (US only)

✓ Best for sending large sums

Not all third-party providers are suitable for sending large sums, for example, if you need to transfer a deposit for buying a home abroad. This is because many providers have a maximum sending limit, whilst others require further verification of your identity before they can process your payment.

We would recommend using our comparison tool to help you find a suitable provider for the amount you are looking to send.

Looking for domestic money transfers?

Most Used International Money Transfer Providers in the US
What is an international money transfer provider? An international money transfer refers to the process of sending funds to an individual or company overseas. It is up to the customer to decide whether this transfer is received electronically or in cash. Traditionally, this transfer would be processed by your bank, but there are numerous specialist […]
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In the modern world we live in, you’re more likely to find yourself overwhelmed with options to send money domestically rather than limited. From more traditional methods that have been around for years such as money orders, to the new and innovative apps that make sending money possible with just an email address, in this […]
Transfer‌ ‌Money‌ ‌to‌ ‌Europe‌ ‌
When transferring money to Europe, you want to consider all the details. We can help you find the best deal possible.


How much does it cost to send money online?
How long does it take to send money online?
What is the safest way to send money online?

Bottom line

Sending money online is more accessible than ever nowadays, with apps and online banking making it possible to access your accounts and move your money around the world within minutes. While sending money may be easier than ever, however, it also pays off to be informed about what to look for in a transfer provider to ensure you’re getting the best deal in terms of cost, speed, security, and reliability.

The best way to do that? Research the best provider for your specific transfer needs. Specialist transfer providers will all have their own fee structure, exchange rate markup, and transfer time capabilities depending on the two countries you are sending between. Comparing services is the most efficient way to ensure you’re matched with the best option for you.

Looking for more information?

Below we’ve compiled a list of top news and guides for you to read. If you want to know more about the industry, be updated with recent changes to expatriate and travel laws, changes to regulations or anything else, check out some of our top news picks:

Alternatively, check out some of our top guides on sending money abroad:

Bank Transfers to Spain
This helpful guide will share what you need to know about bank transfers to Spain. You will learn how to choose the right bank for your needs to compare the many choices out there. We will also share details about tax implications that need to be considered before sending money. Finally, we present 3 top alternative money transfer companies that you can use for sending money to Spain.
International Transfers Over $20,000
In a bid to help our readers find the best way to send transfers of $20,000 and above, we have put this guide together, to outline the safest, fastest and cheapest options for transactions of this size. As well as providing an overview of key factors we will run through money transfer providers that facilitate large overseas transfers.
International Transfers Over $10,000
This Wire Transfer guide is designed to offer assistance to readers who may be struggling to find a suitable provider for their larger remittance needs of $10,000 or more. Whether you are sending this amount for personal or business reasons, this guide will help you minimize fees, save time and find a safe and secure service for your next transfer.
What is Wire Fraud?
Wire fraud is a long-standing problem that affects millions of people around the world every year. The sophisticated nature of certain fraudulent activity means many unsuspecting people fall victim to the traps set by criminals, both on and offline. This guide to Wire Fraud aims to quell your fears and help you make correct, well-informed decisions when arranging your next money transfer.
What is My Building Society Roll Number?
This page outlines what you need to know about using a roll number to execute transactions. Understanding the different components of bank account information enables you to assess what information is needed to make a transaction. This page is useful for international money transfer customers that want a better understanding of what a roll number is all about.
Understanding Foreign Exchange Risk
Being on the receiving end of an undesirable exchange rate can be detrimental to any type of international transfer, no matter the size or destination country, but it is especially damaging to international business transfers that make regular mass payments. Foreign exchange risk, or FX risk, derives from the exposure of an organisation during international transactions in a foreign currency. This guide will help any company or business understand key risks and mitigate potential loss of assets.
International Taxes
Understanding the intricacies of international taxes can be one of the most stressful parts of sending money overseas. We want our readers to have access to all the relevant information in a bid to avoid unexpected bills. In this helpful guide we share everything you need to know about various taxation rules and regulations when moving money between countries.
International Workers Day 2021
About International Workers Day Every year on May 1st global communities observe International Workers Day. This annual public holiday is an opportunity to celebrate hard-working professionals in all lines of work, by commemorating the success of international workers’ rights groups, such as the Federation of Organised Trades and Labour Unions (FOTLU). In 1884, it was […]
Send money from Germany to Turkey using Sofort
Germany and Turkey have a close relationship, and with a large number of Turkish people living in Germany, this is a popular money transfer route. For this reason, there are many ways to set up safe and speedy international remittances between these two European countries. In this guide we will shed light on one of the most practical and secure methods, as we explain how to transfer funds from Germany to Turkey using Sofort.
COVID-19 Scams and How to Avoid Them
In just the first half of 2020, UK finance reported almost 15,000 impersonation scam cases – an 84% increase compared to the same period in the last year. A large portion of these scams can be attributed to the COVID-19 pandemic causing an up-tick in criminals impersonating the police or government organisations for financial gain. […]
Top 40 Money Saving Blogs for Mums
Being a mum means taking on many different jobs: carer, teacher, chef, cleaner, nurse, chief budgeter…and that’s just to name a few! At times, keeping it all together can feel like an impossible mission, but thankfully, there are other mums all over the world ready to be a shoulder to lean on, a listening ear, […]
Best Way to Send Money to Friends and Family
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What Details Do You Need To Transfer Money Abroad?
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Sending Money Guides
Due to the booming money transfer industry, sending money online need not be complicated or expensive. Instead, there are plenty of straightforward and affordable options to choose from. That is, if you’ve done your research and find the right method of sending money for your needs: we can help you here. In our Sending Money guides, we will break down some of the best ways to transfer money, albeit online or in-person, as we provide an overview of the most recommended money transfer companies that can help you find the best deal for your money.
Coronavirus, Working Remotely, & Public Attitudes To Living Elsewhere
Foreword by the CEO, Jonathan Merry The national lockdown enforced by the British government during the first wave of the COVID-19 pandemic forced many companies to adopt a company-wide, work-from-home policy. This unprecedented action saw a meteoric shift in attitude towards a higher level of acceptance for employees working from home. In many ways, it was a giant […]
A Guide to Sending Money Home
What factors should I consider when sending money home?  When choosing a money transfer service for sending money home, there are a variety of factors to consider to help you find the best deal. Here’s a quick summary of what to bear in mind. The amount you’re sending: Most money transfer services have a limit […]
How to Send Money to Someone
The different options for transferring money When sending money, it is important to know the options available, and how they differ in terms of speed, cost, safety, and other factors. Here’s a quick summary of the different ways you can make person-to-person payments. Banks Banks are largely perceived to be the safest and most established […]
Safest Ways to Send Money
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COVID-19 and how it has affected the Money Transfer industry
COVID-19 and the Money Transfer Industry Message from Jonathan Merry, CEO of MoneyTransfers.com From international travel to retail, COVID-19 has hit every aspect of life around the world. In parallel, similar effects have been seen in the world of business, which has seen the biggest drop in activity since the great depression. However, the trajectory […]
Facebook Libra Privacy & Adoption
With the announcement of Facebook’s cryptocurrency – Libra, the team at Money Transfers decided to look into the potential impact this could have on privacy concerns surrounding Facebook, and whether this could affect consumer adoption of Libra. Key Findings Facebook users are divided on whether to store their money through a service such as Libra […]
Starting out
Starting Out People transfer money across borders for a variety of reasons. You may have family in another country, and need to send them money. Or you may be making an overseas investment. It is also possible that you are trying to make a transfer as part of a business transaction. Or you are simply […]
Are Money Transfers Taxed?
This guide presents how money transfers and taxes work across the world, as well as offering tips on how to reduce your tax bill.
The Brexit Impact
The Brexit Impact Britain’s planned exit from the EU infamously referred to as ‘Brexit’ has been one of the biggest shake-ups in modern-day politics. Never out of the news for a day or two the event has been incoming for the past 2 years and there have been drastic effects for both supporters of Britain’s […]
Article Factchecked by Elliot Laybourne on 20th July 2022

Elliott is a former investment banker with a 20 year career in the city of London.

During this time he held senior roles at ABN Amro, Societe Generale, Marex Financial and Natixis bank, specialising in commodity derivatives and options market-making.

During this time, Elliott’s client list included Goldman Sachs, JP Morgan, Credit Suisse, Schroders Asset Management, and the Pennsylvania State Public School Employees Retirement System, amongst others.

Yasmin Purnell

Yasmin Purnell is a Content Writer and Editor for MoneyTransfers.com. Having over 5 years’ experience writing across a range of industries including finance, insurance, and travel, Yasmin joined the team with a mission to make international money transfers and everything they encompass accessible to all.