When you are thinking of transferring money, the most important thing is to determine how and where you want to send it. There are several ways available for you to choose from. Few of them are free, while others do charge some amount for every transaction. You can use an old-school method like cash for sending and receiving money, or you can make an online transaction. Whatever you feel comfortable in, you can use that method. Below in this article, we have mentioned a few most popular ways of money transfer. To learn about them, be sure to read this article till the end!

1. Cash

It has to be our top pick as it is the most preferred way of sending and receiving money for almost everyone, anywhere and anytime. Probably the most significant benefit of giving and receiving cash is that there is no limit how much you can give plus there is no transferring fee. However, it is worth noticing that there will be no history of money transaction plus you cannot make an international transaction.

2. PayPal

There is no negating that PayPal is one of the best ways of sending and receiving money, but the condition is both who are involved in cash transfer should have a PayPal account. One thing that is significant to know is that PayPal allows you to move the amount of only $10,000 per transaction. Plus, when you are transferring money using your debit and credit card, you’ll be charged 2.9% of the total amount with an additional $0.3. When you are making from your PayPal account balance or your bank account, you’ll have to pay no money for using a service.

3. Bank transfer

Today, transferring money from one bank to another has become a widespread practice for everyone who has their bank accounts. It is essential to know that if you and your friend have an account in the same bank, you’ll be charged no fee for money transfer. On the other hand, if they have an account at a different bank, then there will be a specified transfer fee. The process of transferring money is very simple and easy, and you’ll require your friend’s account number and routing number. If you have any confusion regarding the money transfer fee, check with your bank before making any transaction.

4. Paxum

If you are looking for a reliable global payment service for your business, then Paxum comes highly recommended. They offer excellent services for businesses and individuals. When it comes to doing a business transaction, they allow you mass wire and EFT transfers to your clients worldwide. You can send and receive payments from other Paxum users, plus your payment cost will be reduced as well. If you want to make a personal transaction, then Paxum allows you to send and receive payments from other users. Furthermore, it has multiple withdrawal methods, including Paxum Prepaid Card, to make the transition easier for Paxum users. Therefore, if you are working with US and EU companies, then this payment method is reliable.