Send Money Online

Sometimes, when someone you know needs money fast, the only way to get it to them within a matter of seconds is to send it online. Send money online fast and with limited hassles by using one of many payment methods. Some are free and completely digital, while others charge a fee for delivery of actual cash. Learn how to send money online so you can get money to a loved one in a hurry.

Steps

Sending Money with PayPal

  1. Decide if PayPal meets your needs. PayPal is one of the oldest online payment platforms, and has ties to many online vendors. You can use it to send money to friends and family, businesses, and online merchants.
    • You can use your bank accounts or PayPal balance for free, or your PayPal Credit (for a 2.9% +.30 fee)[1]
    • PayPal also offers a mobile application for sending and receiving money.
    • Payment recipients must have a PayPal account or must create one in order to receive funds.[2]
  2. Sign up for PayPal online. Visit the PayPal web site and simply click the “Sign up” button to get started. Enter your email and password, then your full legal name and address.[3]
    • Read the user Agreement, Privacy Policy, and Electronic Communications Delivery Policy.[4]
    • You may also download the mobile app and then create your account.
  3. Confirm your identity by registering a bank account or credit card. It can take up to a few days for PayPal to confirm this information.
    • They will send two small payments to your bank account, then retrieve them via EFT
    • This confirmation process may take up to three days, so plan ahead.
  4. Send money using your PayPal account. Log into your PayPal account. Click the "Pay or send money" button at the top right of your account summary page.[5]
  5. Click “Send Money to Friends or Family.” This option is free , if you’re using your PayPal balance or bank account. Paying for “Goods or services” is free for you, but will charge the recipient 2.9% + .30.[1]
    • Most personal transactions will be to friends or family.
    • Be aware of potential tax liability for the recipient if you’re paying for services.
  6. Enter your recipient’s email address, phone number, or name. If you’ve sent money to this person before, you can simply type his or her name and select them from the list.[5]
  7. Enter the amount you’re sending. Click “Continue” to add a note about the purpose of the transaction. The note is optional, but it will help you keep accurate records of your expenses.[5]
  8. Decide on your method of payment. Beneath “You’re sending with,” you’ll see one of your accounts listed. You can click this account name and change it to any other linked accounts, but make sure you have the funds to make the payment.
    • Using your PayPal balance or linked bank accounts is free
    • Using PayPal credit charges a small fee of 2.9% + .30.[1]
  9. Click “Send Money Now.” The recipient will receive a notification, either as a text message or an email, depending on the contact information that you entered. They must accept or decline the payment.[5]
    • An unclaimed payment is automatically cancelled if the recipient doesn’t claim or accept it within 30 days.[6]
    • Payments that are “unclaimed" can still be canceled if you’ve made a mistake. If the recipient has already picked up the money, you’ll need to contact him or her directly to request a refund.[6]

Sending Money with SquareCash

  1. Decide if SquareCash meets your transaction needs. SquareCash is affiliated with the Square credit card reader, though you won’t need that device to use the program. Your recipient does not need to create a SquareCash account to receive funds, though they will need to link a debit card.[7]
    • You can use your bank accounts, debit cards, but no credit cards or special credit accounts.[8]
    • Users must download the mobile application before sending money, although you can still send money using the web site.[8]
    • SquareCash has a $250 weekly limit for sending, and a $1000 weekly limit for receiving, for personal accounts. Sending or receiving over those limits will generate an authentication request for your name, date of birth, and last four digits of your SSN.[9][10]
    • Verifying this information will allow you to increase your sending limit to $2,500 (in most states).[9]
  2. Sign up for SquareCash online. Sign-up is straightforward, requiring only your email or phone number and a security code verification.[11]
    • You can sign up right away on the site, or you can download and use the mobile app.
    • You can wait to enter your bank account or debit card information until you’ve completed the account creation process.
  3. Verify your account. To protect your information, SquareCash will send a code to your phone. You will also need to read about SquareCash’s security and privacy policies.[12]
    • Be sure to read these policies carefully, as you’re dealing with your important financial information.
    • Bookmark or download the security and privacy policies for later reference, in case issues arise with your information.
  4. Answer the question about your primary use for SquareCash. In most cases, you’ll be using Cash for “Personal” reasons, such as sending money to friends and family. Other uses will charge a 2.75% fee to the recipient.[13]
  5. Add your Bank account information. SquareCash uses only standard, US-issued bank accounts to fund payments, such as Visa, MasterCard, and Discover debit cards. They do not accept credit cards, ATM, PayPal, or prepaid bank cards.[14]
    • You may skip this step for now, if you’re not ready or don’t have it handy.
    • This information is secure: your recipients will never see your account information.
  6. Compose an email to your payment recipient's email address. Using your email account to send money can save time and help you keep clear records or payments, even if your recipient doesn’t have a SquareCash account.[15]
    • Add the address: cash@square.com in the Cc: field.
    • Input the dollar amount in the email’s subject line.
    • You can add a note as a record of payment for yourself and the recipient.
    • Confirm your CVV on your debit card to complete the payment.
  7. Watch your email for next steps. The final screen may show a response of "Almost Done. Check your inbox for next steps." If so, watch for an email from Square and follow the prompts to complete the process.[15]
    • You'll receive a notification via email or text once the payment is complete.
    • Any number of people may be added to the To: field.
    • Users with linked cards will usually see an immediate deposit, but it may take 1-2 business days to appear in the recipient’s bank account.[16]
  8. Check your transaction receipt for errors. We all make mistakes, whether it be typing your friend’s name incorrectly or sending too much or too little money, so it’s important to double-check your information.
    • You may still have an opportunity to cancel or retract the transaction if the recipient hasn’t claimed the payment. Simply cancel the payment from the final confirmation email.
    • If the recipient has already claimed the funds, you can only ask him or her to return the money.[15]

Sending Money Using a Payment Link

  1. Ask your payee for a secure URL or link to an online payment service. This option is useful and secure, if you have have his or her direct URL or link, such as Cash.me/$cashtag, for SquareCash or PayPal.me/cashtag for PayPal.[17][18]
  2. Go to the SquareCash URL your recipient provides you. If the payee has a SquareCash account, he or she automatically has this URL, and you can use it to send money quickly online. Make sure that the name on the Cash.me URL matches your friend’s legal name.[17]
  3. Enter the payment amount and click “Send.” If you have an account and have signed in, simply enter your payment amount. You won’t need to enter any further information.[17]
    • If you have an account, and you have Security Lock enabled, you'll be asked to verify your linked card's CVV.
    • If you don’t sign in, or don't have a SquareCash account, you can simply enter your debit card information and click “Send.”
  4. Check your email or mobile app for a notification. You should receive a message when SquareCash sends the money from your account and another when your recipient claims it.[19]
    • You may still have an opportunity to cancel or retract the transaction if the recipient hasn’t claimed the payment. Simply cancel the payment from the final confirmation email.
    • If the recipient has already claimed the funds, you can contact him or her to request a return payment.[15]
  5. Go to the PayPal.me link that your recipient provides. This secure page should include his or her legal name and profile picture. For security reasons, make sure the name and photo match your friend’s description.[20]
  6. Enter the payment amount and click “Next.” You’ll either need to sign in with your own PayPal account or to create one. PayPal will not permit you to send money unless you have a verified account.[18]
    • You can choose to send money with a bank account or PayPal balance for free, or use your debit card or credit card for a fee (2.9% +.30).[1]
  7. Finish and send your payment. Click the “Pay” button to send your payment to your recipient. He or she will receive either email or text message notification, depending on his or her account settings.
    • Users with linked cards or accounts will usually see an immediate deposit, but it may take 1-2 business days to appear in the recipient’s bank account.
  8. Check your email or mobile app for a notification. You should receive a message when PayPal sends the money from your account and another when your recipient claims it.
    • Only unclaimed payments may be cancelled.
    • Completed payments cannot be canceled, but you can contact your recipient for a refund.[18]

Sending Money with VENMO

  1. Decide if VENMO meets your needs. VENMO offers both online and mobile transfers, and is strongly social-media based. You can send money, with or without the mobile app, using either bank accounts or credit cards.[21]
    • Sending money from your linked bank account is free, while sending money from your linked credit card incurs a 3% fee per transaction.[22]
    • Non-VENMO users will receive a request to sign up for an account before they can receive your money.
    • VENMO has a $299.99 weekly limit for sending for personal accounts until you have verified your information. Your sending limit will then increase to $2999.99.[23]
  2. Sign up for VENMO online. First, create an account using either your Facebook login or your email address. VENMO uses your Facebook friends list to generate a contact list for money transfers. You can also link your email contact list.[24]
    • Enter name, address, email, and phone and password
    • Click “Complete Sign Up”
  3. Verify your account using the VENMO code. The site will send a code as a text message to verify your identity and phone number. Enter the number you received as a text and then click the button to “Verify Phone.”[25]
    • Click the link to use on the web, if you don’t have an iPhone or Android phone.
    • You will receive an additional text message with a link to download the app if you have a mobile device.
  4. Select the “Pay” button to send money. The selected button will remain depressed, so check it to make sure you have the correct one selected.[26]
  5. Enter the name, email address, or phone number of the person to whom you’re sending money. If you enter a name, the VENMO search engine will search for matching users in your contact list or VENMO account holders..[26]
    • Be sure to check the image thumbnail, if you enter a name, to be certain it’s the person to whom you want to send money.
    • You can also add friends, using the option on the right-hand navigation, so those names appear first.
  6. Enter the amount next to the dollar sign in the large message window. You can include a note describing the purpose of the payment, so that you and your recipient can keep accurate records of payments..[26]
    • You can “Share” the payment on Facebook, if you’ve connected your FB account, by selecting the “Share a note on Facebook” box.[27]
    • Add your Facebook friends to your VENMO account to speed up future payments.
  7. Select “Public,” “Friends,” or “Private” before clicking the “Send” button. You can either share your transaction in your VENMO news feed with all VENMO users or just your friends, or you can keep it private.[27]
    • Select “public” to allow your transaction to appear on the main news feed for all VENMO users.
    • Choose “Friends” to only show the transaction on your VENMO friends’ feeds.
    • Choose “Private” to hide the transaction from view.
  8. Enter your debit card information. This option securely sends your friend cash with no fees. You can also enter different bank account information, using the link at the bottom of the pop-up window.[28]
    • Add a bank account to use ACH withdrawal, also for free.
    • You can use a credit card to send money, but you’ll incur a 3% transaction fee.[22]
  9. Click "Pay" to complete the transaction. The funds are sent instantly to VENMO account holders, although non-users will be asked to create an account first.[26]
    • Make sure, before sending a payment, that all of the recipient information and amounts are correct. VENMO cannot cancel payments once sent.
    • If you realize your mistake after you've sent the money, send your payee a request that he or she return you the money. Include a note explaining your request.
    • VENMO can only reverse charges with permission from both parties involved.[29]

Sending Money with MoneyGram

  1. Decide if MoneyGram meets your needs. MoneyGram doesn't require you or your recipient to set up an account, although transfers in the United States must be picked up, in cash, at a physical MoneyGram location.[30]
    • Many other countries accept direct deposit to bank accounts or debit cards.
    • You may use either your bank account or a credit card to fund your payment, although each option incurs different fees.
  2. Ask your payment recipient where they will pick up their money. Since MoneyGram only sends cash to physical locations, use the locations page on the web site find the most convenient location for your friend or family member.[30]
    • Enter your Address, City, or Zip Code in the Locations Page search box.
    • Choose the store that is both conveniently located and has hours that fit your recipient's schedule.
  3. Check MoneyGram's rates for sending cash. Visit the "Estimate Rates" link on the main page and enter the amount of money you are sending. This will help you to figure out how much you will be charged to send the funds. You will first enter the amount you're sending then choose your payment source to determine the rate you'll pay.[31]
    • Pay close attention to exchange rates, if you're sending money internationally.
    • Remember that some credit cards will charge you a cash advance fee if you use them to send money.
  4. Send money using the form on the MoneyGram home page. Enter your recipient's first and last name, along with their country. If sending money in the United States, you'll also enter their state of residence. Click "Start Sending Money Now."[32]
    • You can create an account, login, or send as a guest.
    • If sending money internationally, follow the steps as they appear.
  5. Choose the method of payment delivery. In the United States, the "Cash" option is already selected. International payments will be able to select from a variety of payments, depending on what forms of delivery are allowed.[33]
  6. Enter the payment amount. The exchange rate will be calculated for you automatically, so, if you're sending internationally, you'll see exactly how much your recipient will receive. Make sure that the full amount will not overdraw your bank account or credit card.[33]
  7. Watch your email for a confirmation. Paying attention to the details on this receipt, such as the amount of money you sent, payment fees, and recipient information, will help you manage your accounts.[33]
  8. Check the confirmation for errors. You can still cancel the transaction, as long as the money has not been picked up. You’ll need to visit the MoneyGram web site to submit a [34]
    • If you have a MoneyGram account, login to the site and find the transaction details in your Transaction History. You’ll see the option to cancel.
    • If you do not have an account, use the “Track a Transfer” tool to find the payment and to cancel it on the “Transaction Details” page.

Tips

  • PayPal’s verification process requires two deposits, followed by two EFT withdrawals. If you’re using a savings account, be sure that these two withdrawals don’t exceed your federal monthly limit of 6 withdrawals. If they do, your bank will automatically close your savings account.[35]
  • VENMO and SquareCash both offer an option to download all transactions to a .csv file, while PayPal provides monthly statements for viewing and download. Always monitor your accounts for activity in order to prevent fraud or to catch errors.
  • Pay close attention to your bank account and credit card balances so that you don’t incur fees for overdrawing or overcharging.
  • Your bank may allow person-to-person transfers, so you might also consider checking their procedures.

Warnings

  • To ensure that you send the money to the right person, make sure you know the correct email address. If you send it to the wrong email address or person, you may not be able to get your money back.
  • Several of these, and other, online payment options have been hacked, so use all available security features for your chosen service, such as security locks and account change notifications.[36]

Related Articles

  • Avoid a PayPal Limitation

Sources and Citations

  1. ↑ 1.0 1.1 1.2 1.3 https://www.paypal.com/selfhelp/article/FAQ690/16
  2. ↑ https://www.paypal.com/selfhelp/article/FAQ1684
  3. ↑ https://www.paypal.com
  4. ↑ https://www.paypal.com/us/webapps/mpp/ua/privacy-full
  5. ↑ 5.0 5.1 5.2 5.3 https://www.paypal.com/selfhelp/article/FAQ1684/1
  6. ↑ 6.0 6.1 https://www.paypal.com/selfhelp/article/FAQ637/1
  7. ↑ https://squareup.com/help/us/en/article/5505-send-and-request-money-with-square-cash
  8. ↑ 8.0 8.1 https://squareup.com/help/us/en/article/5132-create-a-square-cash-account#download-the-cash-app
  9. ↑ 9.0 9.1 https://squareup.com/help/us/en/article/5505-send-and-request-money-with-square-cash#sending-limits
  10. ↑ https://squareup.com/help/us/en/article/5505-send-and-request-money-with-square-cash#receiving-limits
  11. ↑ https://cash.me/
  12. ↑ https://squareup.com/help/us/en/article/5144-square-cash-security
  13. ↑ https://squareup.com/help/us/en/article/5569-get-started-with-square-cash-for-business
  14. ↑ https://squareup.com/help/us/en/article/5588-supported-debit-cards-with-square-cash
  15. ↑ 15.0 15.1 15.2 15.3 https://squareup.com/help/us/en/article/5372-square-cash-with-email
  16. ↑ https://squareup.com/help/us/en/article/5589-square-cash-deposit-schedule
  17. ↑ 17.0 17.1 17.2 https://squareup.com/help/us/en/article/5505-send-and-request-money-with-square-cash#pay-from-cash.me
  18. ↑ 18.0 18.1 18.2 https://www.paypal.me/pages/faqs
  19. ↑ https://squareup.com/help/us/en/article/5240-square-cash-settings-and-activity
  20. ↑ https://www.paypal.me
  21. ↑ https://venmo.com/about/product/
  22. ↑ 22.0 22.1 https://help.venmo.com/hc/en-us/articles/210413677-Adding-a-Credit-or-Debit-Card
  23. ↑ https://help.venmo.com/hc/en-us/articles/221010968-Limits-what-is-the-maximum-amount-I-can-send-
  24. ↑ https://venmo.com/
  25. ↑ https://help.venmo.com/hc/en-us/articles/209690078-Phone-and-Email-Verification
  26. ↑ 26.0 26.1 26.2 26.3 https://help.venmo.com/hc/en-us/articles/210413477-Sending-Requesting-Money
  27. ↑ 27.0 27.1 https://help.venmo.com/hc/en-us/articles/210413717-Payment-Activity-Privacy
  28. ↑ https://help.venmo.com/hc/en-us/articles/221073067-How-and-why-should-I-verify-my-bank-account-
  29. ↑ https://help.venmo.com/hc/en-us/articles/209681208-I-paid-the-wrong-person-
  30. ↑ 30.0 30.1 https://secure.moneygram.com/locations
  31. ↑ https://secure.moneygram.com/estimate
  32. ↑ https://www.moneygram.com
  33. ↑ 33.0 33.1 33.2 https://secure.moneygram.com/send
  34. ↑ cancellation.https://secure.moneygram.com/more/faq
  35. ↑ http://www.federalreserve.gov/boarddocs/supmanual/cch/int_depos.pdf
  36. ↑ http://lifehacker.com/which-online-money-transfer-service-is-the-most-secure-1688912343
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