Money Transfer Services Online

Money Transfer Services Online

MONEY TRANSFER SERVICE PROVIDERS ONLINE

Money transfer has never been more convenient, simple and secure thanks to the Internet. Receiving a money transfer is easier, faster and safer than ever - with some providers it can even be done online.

If you need to make an international money transfer or just send some money to a kid in college, but have neither time nor inclination to visit the bank, then any of the electronic online money transfer companies reviewed in the frame to the right can help, as with all of them you are able to wire the money over the Internet from your computer.
But if your kid needs the money urgently, and you do not want him to run around with cash, then PayPal and c2it may be your options for now. With these services the money transfers are not just sent, but also received online. The whole process is instant, and the kid does not have to leave his computer to get the money.

Let us see how these online money transfer services, both U.S. domestic and international, compare overall. As far as the sending part is concerned, they are about the same - you transfer the money from their web sites. However, when it comes to the receipt of the money, transfer time and the price, they become different.

U.S. domestic service
Western Union. The receiver should first find out if the money transfer has come in. Then, after the confirmation, go to a Western Union agent location, during the agent's working hours, and pick up the cash. The web site does not say how long it will take the money to get through. According to another source, the transfer should be in on the same day. To send $100 this way will cost you $15.
PayPal. The addressee receives a notification email, logs in at the PayPal web site and requests a check by postal mail or orders to transfer the money to his checking account. Sending is free. The recipient pays 2.9%+$0.30. So, to transfer $100 within the U.S. will cost the receiver $3.20. Personal accounts are free, but may not receive credit card payments.

c2it. Your recipient gets a notification email, logs in to the c2it web site and transfers the money to one of his bank or credit card accounts. The sender pays 2.0% of the transfer amount, $0.30 minimum. So, to transfer $100 within the U.S. will cost you $2. If your recipient chooses to get the money by check it will cost him $3 flat.

International service

Western Union. With the international money transfers everything is the same as with the U.S. domestic service. To send $1,000 from the U.S. to the United Kingdom will cost you $68. At this time online transfers are possible from the U.S. and Canada only.

Every effort is made to keep the information on this page as accurate as possible. However, please, refer to the web sites of the respective money transfer companies before you make your decision.

Each link opens a new window, so it will be easy for you to return to this page and check out another online money transfer service if you choose to do so.

U.S. domestic service: $15*.

International service: $68*.

Both: Send money online - receive cash at an agent's location. The transit time is not specified on the web site, supposedly on the same day. Check out when the agent is open.

Remarks: The recipient must physically go to get the transfer. At this time online transfers are possible from the U.S. and Canada only.

U.S. domestic service: $3.20*.
International service: $40.80*. Available in 38 countries: in 5 of them - sending only; in 16 countries - sending and receiving at PayPal, but transfers to local banks are not allowed; in 17 countries - full service. Make sure that the service is available in the country of your recipient.
Both: Send money online - receive at a PayPal account, then request a check by postal mail or, in the U.S. and some other countries, order a transfer to a local bank account. There is a $1.50 flat fee for the transfer to a non-U.S. bank where such a withdrawal is possible.

Remarks: Often misdirects payments. The fee schedule is complicated and confusing.

U.S. domestic service: $2*. Send money online - receive at a c2it account, then transfer to one of bank or credit card accounts. To get the money by check in the mail costs the receiver $3. Do not be discouraged by the promotion of the international service on the c2it web site - the domestic service is there.

International service: $10 flat fee. Available to more than 100 countries. Send money online - receive direct deposit to a bank account typically on the next business day. There is also an option of an international check by postal mail at the same fee.

Remark: Only U.S. residents can send money with c2it.

* The prices are comparative - they are based on money transfers paid with a credit card: $100 to anywhere in the U.S., and, for the international service, $1,000 from the U.S. to the U.K.

PayPal. The international service is available to the residents of the U.S. and 37 other countries. Make sure it is available in the country of your recipient. Users in some countries are limited to only sending money with PayPal, they may not receive payments. In most countries PayPal does not allow transfers to local bank accounts. Sending is free. The recipient pays 2.9%+$0.30 plus 1% if the payment is from another country. There is also an additional $1.50 flat fee for the recipient to transfer the money from a PayPal account to a non-U.S. bank account where it is possible. So, to transfer $1,000 from the U.S. to the United Kingdom will cost the receiver $40.80. The procedure is the same as with the U.S. domestic service.

c2it. To do it fast you can use the direct deposit option, which will bring the money transfer to the recipient's bank account typically on the next business day. The fee is $10 regardless of the transfer amount. There is also an option of an international check sent by postal mail. The service fee is also $10 flat. Only U.S. residents can send money with c2it.

Money Transfer Services Online
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