When it comes to sending cash transfers, the first way that people think about is sending the funds through the bank or a money transfer service. But there are cheaper alternatives for sending cash transfers online. Sending your funds through online payment solutions may be more affordable and convenient for you. This is because the fees that you might incur using the traditional ways of sending money might be higher than you can pay for, especially if you plan on doing this on a regular basis.
Here are a couple of cheaper cash transfer alternatives you can use:
E-wallets, also known as digital wallets, work much like a wallet that you carry around with you. Here, you can store money and also your credit card information. But unlike the wallet you have now, you can take the funds in the e-wallet and send it as online payment to anybody wherever they may be in an instant. As long as you are connected to the Internet, you can transfer cash worldwide in just a few clicks of a button.
There are no fees when an e-wallet for sending and receiving through one of the best online payment services. However, these won’t be as expensive as sending through money transfer services. This is because the fees that payment solutions are usually just a minimal amount and are taken monthly or annually, not with every transaction that you make.
You can even customize your digital wallet to cater to the kind of account that you need. You can have a personal account if you plan on just using it for your individual needs. Or you can use the e-wallets these online payment solutions offer for a business account. This way, you will have access to cash transfer services that are more convenient for you to be able to conduct your business easier.
Another cheap alternative for a cash transfer is by funding a person’s credit or debit card. If the individual that you want to send to has a Visa, Union Pay, or MasterCard, you can quickly put in the funds that they need directly to their card without a hassle. The great thing about this is, through the online payment solution you are using, the funds will be reflected in the card faster than it would if you were using a bank transfer. It usually takes less than 24 hours for the money to kick in.
The fees involved in doing this will be pretty much the same as you keep your online payment solution account. So the transaction you will be making will be free as an account holder. Another great thing about this is that the person you are sending the money to won’t need to have online payment services as well. Other forms of online money transfers require this for you to send money instantly. By funding the person’s credit or debit card, they won’t have to go through their bank or through the payment solution for them to get the money that they need.