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The Best Ways to Send Money to Family or Friends

by Atlanta Business Journal

Whether you have moved abroad and want to send some money back home to help out a relative, are paying your share of a meal out with family or paying back some money you borrowed from a friend, the good news is that today, there are lots of different options that you can choose from to send money quickly and securely to somebody else. The days of having to go into the bank to make a payment to somebody are long over, and there are lots of services that you can use quickly and easily on your phone without having to even leave your house. If you need to send money to a friend or family member, some of the top options include:

International Money Transfer Apps

International money transfer apps like Ria Money Transfer are a top option for those who have family around the world and want to send money to them. Money transfer apps are a great way to send money with lower fees compared to other options and high user-friendliness. If you’re working hard after moving to a new country and want to help out your family members back home with some cash, all you need to do is open the app and set up the transaction.

Peer to Peer Transfer Services

Peer to peer transfer services are another option to consider. They work in a similar way to international money transfer apps and operators. There are lots of popular options to choose from including Cash App, Venmo, and PayPal. All you need to do is download the app on your phone or sign up through a browser to start taking advantage of convenient, fast money sending services to your family and friends. The person that you are sending money to will usually be required to have the same app.

International Wire Transfers

An international wire transfer is another option that may be worth thinking about if you want to send money to family and friends who are in another country. This can be a convenient option since you will already have direct access to the money in your bank account and can set up the payment through your bank. To do this kind of transfer, you will need the international bank account number (IBAN) for the account of the person that you are sending the money to. However, bear in mind that this route is not often the cheapest and transfers aren’t usually instant.

Bank Transfer

A simple bank transfer might be possible if you are sending money to a friend or family member in the same country as yourself. This can be convenient as there is no need for third-party apps. All you need is the banking account details for the person you’re sending money to. You can usually set up a transfer using online or mobile banking, or you can call or visit your bank to do it.

Whether you’re paying your share, repaying money you’ve borrowed or helping out a family member or friend, these are the most popular options to consider when it comes to sending money to somebody.

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