Sending money online is a lifesaver. We live in very stressful, fast-paced times, but if we didnít have the tools to send money online, our financial lives would be so much harder. Navigating the world of finance, bill payments, shopping and running a business would be nearly impossible in todayís world without all the ways to send money, but thanks to the internet these can all be done independently from the comfort of your home.
Thank God for the internet! We truly live in privileged times. So why are so many people miserable, taking for granted the power we have at our fingertips? Sure, the tools for sending money online arenít perfect, but do you know what was there before those tools existed? Nothing! Youíd have to go to a transfer company, fill out ample amounts of paperwork, pay exorbitant fees and then twiddle your thumbs for days or weeks before the money could get anywhere.
Today, things are different. Sending money online has completely changed our approach to finance. How many of you pay your credit card bill with online banking? How many of you have ever purchased anything over the internet?
Itís hard now even to remember what it was like to have to go to the airport to book our flights, or to walk into a hotel without a reservation. So when you get frustrated with all the different ways to send money, donít forget how lucky you are to have that kind of freedom at your fingertips. Things could be much more difficult.
How to Send Money Online
- Wire Transfer: A very safe and fast way to send money, wire transfers are sent directly from one bank account to another. Your bank can handle the transaction with no 3rd party necessary, but they often charge very high fees for the service. Some banks offer them free between any two accounts with the same bank, but in all other circumstances, the cost makes wire transfers impractical for all but the largest transactions.
- Online Money Order: Money orders were created as a way to travel overseas without the risk of carrying cash, so they are traditionally recognized as a valid form of payment around the world. When you purchase an online money order, you are essentially sending money online but you yourself are acting as the 3rd party rather than going through a bank or payment platform, and therefore you can avoid some of the fees charged by 3rd parties.
- Online Bill Payment: This was one of the first online forms to send money because of the impractical and time-consuming nature of paying bills before the internet. Banks have long supported online bill payments because it saves them paperwork and significantly decreases the frequency of late payments. Bill payments can also be automated, so the old monthly chore of paying bills has been virtually eliminated.
- Online E-Wallet: Originally created to meet a demand for consumers and merchants who werenít comfortable sharing their credit card information online, e-wallets have become the e-commerce industryís preferred tool for sending money online. E-wallets are often the cheapest way to send money internationally, and as their global penetration increases they are beginning to branch into areas traditionally dominated by payment cards.
Just try to imagine shopping, paying bills or running a business in todayís world if you didnít have these tools at your disposal Ė not a pleasant thought, is it? So donít take the many tools for sending money online for granted. They make our stressful lives that much easier.
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Sending money online is taking the world by storm, and many consumers have recently been taking it to the next level: mobile banking. To learn about what you need to consider in order to ensure that you choose the right online financial service provider for you needs, read this article.
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