How To Send Money From Bank Account To Someone

Want to transfer money online from your bank business relationship to some other? These days, y'all're spoilt for choice.

There are loads of reasons you might need to transfer money to someone else'southward account. You could exist sending money equally a gift, transferring cash to dependent relatives, or simply sharing utility bills with your housemates.

Sending money straight to a bank account has many advantages over traditional ways to pay someone, such equally cash or cheques, because these electronic transfers are fast and secure, and require less fourth dimension and effort from both the sender and the recipient.

Different ways of sending coin to another banking company business relationship

Bank-to-banking company money transfers come at varying costs and levels of simplicity. Hither are the tiptop three methods explained so you can decide what's right for you lot:

Peer-to-peer transfers

You can send money from your depository financial institution account direct to some other by using online platforms accessible through mobile apps or your web browser. These transfers are ordinarily cheap to make, and all you'll demand to know is some basic account information from your recipient. It may toll extra with some services if you desire to send money away rather than domestically.

The major advantage of this type of transfer is that you lot can do it from dwelling, so yous don't need to go to a bank or post office to send your coin.

Paysend is an international peer-to-peer money transfer service which lets you ship money directly to a bank account in over 80 countries worldwide for costless. The clear and simple Paysend Global Transfers app makes information technology easy to send money to the bank accounts of your friends and family quickly (usually within a few minutes) and with minimal fuss.

Wire transfers

If you find the globe of mobile apps confusing and want to stick with traditional money transfer methods, yous can send money from your banking concern, or the local mail office or remittance shop. This is known equally a wire transfer. Believe it or not, wire transfers have been effectually for nearly 150 years!

If you lot want to send a wire transfer y'all'll demand to pay the cashier at your called branch and requite them banking company details for both you and your recipient. They'll do the rest for you, and your money volition make it within a few days.

You should accept care with wire transfers, considering you may end up spending more than y'all look on inflated and hidden fees, and poor substitution rates.

Eastward-wallet transfers

The tertiary main method of electronically transferring money to someone else's bank account is past using e-wallets. This involves signing up to an e-wallet service - such as PayPal - and sending money to someone else's eastward-wallet within the wallet'southward mobile app or on its website. Your recipient can then withdraw that money to their banking company business relationship.

1 of the issues with choosing this method is that it adds a few actress steps into the process - signing up for an east-wallet, having to deposit funds into your account, and your recipient taking the money out of theirs. This can make coin transfers using e-wallets longer and more complicated. Having said that, when you're all gear up you'll only need your recipient'south mobile number or email address to transport the funds.

Sending money overseas can exist expensive with e-wallets, so brand sure you bank check the fees beforehand, or you may cease up spending much more than than you lot expected.

How to become started with Paysend

If you want to transport coin to some other banking company account quickly and cheaply, yous tin can practice so with Paysend. Information technology'south gratis to sign up, and there are no transfer fees to send money to another banking concern account, no thing how much you want to send.

Money sent with Paysend ordinarily arrives later on just a few minutes, but if your recipient'southward bank has slow processing times information technology can have up to iii days.

To become started, head to the App Store or Google Play and download the Paysend app!