How To Send Money To Someone Without A Bank Account Read More

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Several apps allow you to make simple mobile payments instead. Also known as peer-to-peer payment services, money-sending apps are handy in a number of situations. Whether you want to send a monetary gift for your niece’s birthday, painlessly split a restaurant bill with friends, or even pay your rent without ordering a new checkbook, the best way to send money may just be one of the apps below. All have their own pros and cons, but their shared strength is certainly convenience. None of the apps below requires you to have a specific banking relationship, though many banks have their own payment services — more on those in a moment. Venmo Venmo offers an impressively seamless and low-cost way to send money to anyone using just their email address or phone number. The app also integrates with Facebook and your phone contacts so you can see who else is using Venmo.

How To Send Money To Someone Without A Bank Account In Our Generation

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You’ll even be able to see what your friends are paying for with Venmo in a newsfeed when you open the app. Receiving mobile payments is always free. Sending them is also free if you’re using your Venmo balance, a linked bank account, or a debit card from one of about 30 major banks. Bottom line: Venmo is as much a social app as it is a financial one. You may find this aspect fun — or completely unnecessary. Default settings are public, so if you’d rather not broadcast your transactions to friends, you’ll need to change them, or choose another app.

Square Cash If you can send an email, you can send money via Square Cash. All you need is your recipient’s email address and your own debit card number. The recipient doesn’t need a Square Cash account, and there are no middlemen to slow down the transaction, which is immediate. Share it on social media or in the real world, and payees can quickly enter their debit card number and the amount they’re paying. Square Cash has also recently partnered with Snapchat, allowing you to send mobile payments through the popular chat service, too.

Square Cash doesn’t charge a dime unless you use the business version of the service to request payment. Bottom line: Square Cash is free — hard to beat that — and it’s the easiest-to-use service on our list. Since there’s no Square Cash account, you don’t have the extra step of withdrawing money from that account. However, if you don’t want to send or receive cash via debit card, you’re out of luck. Also, you’ll want to make sure you have as much security as possible to protect your email account, since anyone who has access to your email will be able to access your debit card without knowing the number. Dwolla With Dwolla, you can send money to anyone with an email address, phone number, or Dwolla ID.

You’ll need to link your bank account to Dwolla, and you can keep a balance using the service for future payments. 250 a month, for instance, can get a business next-day transfers, higher transaction limits, and priority customer support. For personal use, it’s now free to send money to someone with Dwolla. Bottom line: Dwolla seems a bit more geared toward businesses than individuals, but it’s still a strong offering. Your recipient will need to sign up with Dwolla, too. You can also send money abroad to anyone with an email address or mobile phone number in more than 190 countries. Otherwise, it’s not the cheapest way to send money: You’ll pay 2.