Situations come up when you would like to transfer money, maybe to buy something online, pay a bill, or send it to family, but you do not want to use your bank. It sounds like it might be a significant problem, but it isn’t. There are several options. We will look at setting up a virtual account (E-Wallet) or maybe using a money transfer system available in many shopping centers. There are also prepaid cards available.
A Virtual Account
Starting an E-Wallet will not cost you anything. Sending money to someone who has the same provider will not require payment, but if they have a different provider, it may. The recipient of the money that you send will not have to pay to receive it, and they will have access to it as soon as you send it. The E-Wallet will send money internationally, and you can send any currency. There are choices for you to make when choosing a provider, and some of them do charge fees for sending money out of the country. Setting up a virtual account is made simple. There will be no credit check. You can send the desired amount of money in just a few minutes. With an E-Wallet, you can buy things from anywhere in the world or across town, right from your home or cell phone.
Using A Money Transfer System
The New York And Mississippi Valley Printing Telegraph Company was founded in 1851 and later changed its name to Western Union. It is a well-known money transfer system that is present in most countries. With Western Union, you will deposit or withdraw money at a counter. It is a trusted and safe way to send money. There are other systems for sending money, but Western Union is readily available worldwide and in any Walmart in the United States. There is a fee for sending money this way.
The recipient of the money will need identification that has the name that you wrote on the form. If the recipient has no ID, you can create a password. You will need to be able to communicate with them to make them aware of the password, or they will not receive the money. Also, you need to make sure the address of where you are sending the money is correct. Those are the only two things you will need.
Prepaid Cards
These cards are available in many places. Truck stops, department stores, and pharmacies commonly carry them. You must purchase the Visa or Mastercard. Then you pay the amount of money that you want available to the holder of the card. The card is a Visa or Mastercard for up to the amount you decide. Funds can be added later without making another purchase. The prepaid cards will make purchases online or in stores. A well loaded prepaid Visa card is a popular Christmas or birthday gift for teens.
Today’s technology makes money transfers faster and easier than ever before. If the person you are sending money to has no bank account, or if you just would prefer not using your bank account, you can do it quickly and easily.
