Sending money online has become an integral part of your lives. Even though people still use the traditional way of sending money, several other options are available. You can choose to send money online using a debit card, mobile app or wire transfer.
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Can you send money from a credit card
Can you send money from a credit card? Yes, you can! If you have a credit card, you can also use it to send and receive money online. You just need to be at least 18 years old or older and have an account with the bank that issued your credit card. The only drawback of using this method is that it will take longer for the recipient to get their cash than other methods since he must wait for the funds to clear in their bank account. As per SoFi experts, “Although using credit cards to send money is a convenient solution, it’s not always advisable.”
Wire transfers are a common way to send money online. It’s the quickest, most reliable method and is approved by the majority of banks. However, it has its downsides: wire transfers are only available in person at your local bank branch, they can take up to three days to process and they can be expensive if you don’t use a flat rate fee (which will vary according to your bank).
Money Transfer with Debit Card
If you are looking for a fast and easy way to send money online, the best option is to use your debit card. This method is prevalent among online shoppers as it allows them to purchase goods from different parts of the world without worrying about currency conversion issues and high bank transfer fees.
You can use this method at any ATM in Canada or abroad and there are no limits on how much you can transfer or where you can send it (within or outside Canada). It’s also a secure way of sending money since an established financial institution will process all transactions.
Mobile Apps for Sending Money
There are many mobile apps that you can use to send money. With these apps, you will be able to send funds to anyone with a mobile phone number—no matter where they are or what time of day it is!
The convenience of sending money online via an app is undeniable. Most of them also allow for fast and easy transfers between your bank account and debit card, making it even more convenient for users who have no other way of making purchases online besides their phones.
Hoping that you have enjoyed this guide on sending money online. The methods for sending money are many and varied, but still, the ones highlighted above are the best ones to use if you want to keep your transactions private.