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The Best Money Transfer Services

The 7 Best Money Transfer Services

Who Offers the Best Money Transfer Service?

Sending and receiving funds has never been easier, whether you're helping your abuela in Mexico to pay for some post-hurricane repairs or splitting a Starbucks tab with your friends. The service you choose will largely depend on the type of money transfer you need, how you want to fund it, and how quickly you need the funds to be available to your recipient.

One of the most convenient developments in transferring money is the fact that it can be done 100% online if you choose. In the past, people had to visit in-person locations in unfamiliar neighborhoods with cash in hand - and that rarely felt comfortable or safe! Now, you can send money from your bank account to your recipient's, from your credit card to their debit card, or any number of combinations - all from your home or even on the go through your smartphone.

Monday, June 27th

2022 Money Transfer Service Reviews

Top Consumer Reviews Best-In-Class Blue Ribbon Award Paypal Review 5 Star Rating

Paypal

5 Star Rating
  • Can be used to send/receive money domestically: Yes
  • Can be used to send/receive money internationally: Only through partner Xoom
  • Recipient must also have an account/use the app: Yes, most of the time
  • Money can be transferred directly to a bank account or debit card: Only through partner Xoom
  • Money can be picked up in person: No
  • Can pay in cash in person: No
  • Can be used to pay a business: Yes
  • Can be used to pay bills: No
  • No-fee options: Yes
Top Consumer Reviews Best-In-Class Blue Ribbon Award

It's hard to find a money transfer service that's more widely used than PayPal. Almost 400 million people actively use the platform for everything from sending birthday cash to paying for auction wins - and much more. It doesn't necessarily have the "cool factor" of some of their rivals and even their partner platforms, Xoom and Venmo, but it's still one of the most reliable ways of sending and receiving money on the planet.

No direct overseas payment options

As a standalone service, PayPal doesn't have every possible money transfer option. For example, if you want to make a cash payment to someone overseas, you'll be directed to their sister brand, Xoom.

Widest range of services

But, PayPal's other services go well beyond what most platforms have. For example, their transfer limits are much higher, ranging from $4000 to $60,000 per transaction. That's important for people who use PayPal for larger payments, like paying a contractor for completed work or buying a vehicle in a private sale. And, there are hundreds of thousands of online retailers who offer PayPal as a payment option, the mobile app can be used to make purchases in brick-and-mortar stores with a QR code, and you can even shop-now-pay-later with PayPal Credit.

Fee-free transactions available

Also, most person-to-person transactions won't have a fee as long as they're funded using a bank account or PayPal balance. If you want to use a credit card, debit card, or PayPal credit to fund a transfer, you'll pay a fee of 2.9% plus 30 cents. We appreciate that PayPal allows you to use both your PayPal balance and another funding method within the same transaction, if needed.

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Purchase protection on goods and services

One of the benefits of using PayPal to pay for goods and services is their Purchase Protection. This can get you a refund of your full purchase price and any shipping costs you paid. That's a nice perk if you're shopping through sites like Etsy or eBay and you want to know you've got options if what you receive isn't what was described in the listing.

Complaints handled well

With a service that's used by so many worldwide, it's no surprise that there is a higher-than-average number of complaints. PayPal is accredited by the Better Business Bureau, but their rating is only a "B" - due to nearly 24,000 complaints filed there. On the positive side, PayPal shows an excellent track record for responding to those complaints, usually within a few business days or less. Better yet, you'll find that customers are overwhelmingly satisfied by PayPal reps' handling of the issues. Every business gets complaints, and we're very glad to see that this money transfer service does a professional, appropriate and efficient job of taking care of their account holders.

Best overall money transfer service

At the end of the day, PayPal is to money transfers what Facebook is to social media: it may not feel as on trend as other services...but everyone uses it! PayPal offers the widest array of features in the industry, including not just person-to-person payments but also the ability to shop online, receive payments from customers or clients, and buy things on credit. While you'll have to go a different route for a few types of money transfers, you'll find almost everything you need with PayPal, our highest-ranked service.

Xoom Review 4.5 Star Rating

Xoom

4.5 Star Rating
  • Can be used to send/receive money domestically: Yes
  • Can be used to send/receive money internationally: Can receive USD from some countries, can send money internationally
  • Recipient must also have an account/use the app: No
  • Money can be transferred directly to a bank account or debit card: Yes
  • Money can be picked up in person: Yes
  • Can pay in cash in person: Yes
  • Can be used to pay a business: No
  • Can be used to pay bills: Only in a few countries, not bills for services in the US
  • No-fee options: No

Xoom is part of the PayPal family and offers the ability to make money transfers to bank accounts and Visa or MasterCard debit cards in the US, and as cash pickups to more than 5000 partner locations (typically at a Walmart or a site in the Ria network).

Many international payment destinations

When you first visit the site, it gives the impression that Xoom can only be used to send money within the US or to receive money from a few countries (e.g. Canada, the UK, and 30+ countries whose currency is the Euro). But, if you click on the dropdown at the top of the site that says "Send Money" , you'll find that while the USA is the default, you can choose from many different destination countries.

Fees on most types of money transfers

What fees can you expect when using Xoom? Quite a few, actually: in fact, there aren't many fee-free options for transferring money with this service. Here's what we found in our two test cases, sending $100 to a person in Florida and $1000 to a person in Brazil. If you're sending money to a US-based bank account or to a debit card, you can expect a 1% fee for funding it with your PayPal balance or bank account, and a 2% fee for paying with your debit or credit card (in addition to any cash advance fees your credit card may charge). If you're doing a cash pickup transaction, you'll pay more (e.g. $5.99 on a $100 transfer, $9.99 for a $1000 transfer). Those fees are lower than some comparable services, and you can always use traditional PayPal for more no-cost options, but it's still a downside Xoom has that prevents it from ranking higher.

Transparent with fees and exchange rates

For our Brazil transaction, our only options were cash pickup or bank deposit, and fees ranged from $4.99 (PayPal balance or bank account funding) to $9.99 (debit or credit card funding). We appreciate that Xoom specified exactly how much our recipient would get in reais, and that they were transparent about the fact that they were also making money through the exchange rate.

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Can pay bills in a few countries

How about paying bills? Xoom is mostly set up to allow you to pay bills for your friends and family living in Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Jamaica, Mexico and Nicaragua - not your own bills in the US. That doesn't exactly help you pay your water bill each month, but it's a nice add-on for some users.

Shares PayPal's rating

Xoom doesn't have a separate rating from PayPal when it comes to the Better Business Bureau, so it's hard to tell which complaints there are related to each service. As a whole PayPal got a "B" grade from the BBB due to more than 20,000 complaints registered there, but we were pleased to see how effectively and promptly each one was handled.

Fast payments guaranteed to arrive safely

There are a few other positives with using Xoom for money transfers. First, customer reviews say that the service is extremely fast if you are sending money to a debit card or for in-person cash pickup, typically 30 minutes or less. Also, unlike some of Xoom's rivals, this platform guarantees that your money will be received by the account you delegate; otherwise, you'll get a full refund. That's a big plus over some services we evaluated where customers' money wound up in limbo, not received but not refunded either.

Best option for overseas money transfers

Xoom has a nice range of features that include being able to pick up a cash transfer at a Walmart and relatively low-fee options for sending money overseas. Customers will really appreciate the service guarantees and the quick money deposits, keeping in mind that they're paying for those perks with fees on most transactions. While Xoom stops short of being our highest-recommended money transfer service, it's still an option you can trust.

Venmo Review 4 Star Rating

Venmo

4 Star Rating
  • Can be used to send/receive money domestically: Yes
  • Can be used to send/receive money internationally: No
  • Recipient must also have an account/use the app: Yes
  • Money can be transferred directly to a bank account or debit card: Only through the app
  • Money can be picked up in person: No
  • Can pay in cash in person: No
  • Can be used to pay a business: Yes
  • Can be used to pay bills: In some apps and websites
  • No-fee options: Yes

Venmo is the social way to send and receive money. The company describes its service as "where your money finds meaning" : every transaction can include stickers, gifs and emojis, and you even have the option to show your exchanges publicly, just to your linked Venmo friends, or keep them private. (We're not entirely sure why anyone would want the world to know how much they spent on beer over the weekend or exactly what "services" they paid a friend for, but this is the platform for you if that's your thing!)

Most options for the lowest fees

Venmo is one of the least expensive services to use for money transfers. There are no fees when you make online purchases, send money using either your Venmo balance/debit card/bank account, and you'll pay a 3% fee when you send money using your credit card. On the receiving side, there are also no fees to receive funds from other Venmo users, from your bank account, or via direct deposit. But, if you use Venmo's cash a check feature, expect fees of 1-5% (minimum fee of $5). And, if you have your Venmo profile set up as a business account, you'll pay fees of 1.9% + $0.10 on each transaction you receive.

No partial payments from balance

One drawback we found with using Venmo is that we couldn't make partial payments with our account balance. For example, if we wanted to send $100 to a friend and our Venmo balance was only $50, we had to make the entire $100 payment out of our checking account - we couldn't use the $50 balance and then transfer $50 from our bank.

No overseas or cash transactions available

You also can't use Venmo to send money overseas, or as a cash transaction. This is one of those circumstances where a platform works really well for a certain set of money transfers, and not at all for others. You could use Venmo for your day-to-day friend and local business transactions, but you'll need a more well-rounded service if you need to get money to or from someone in another country, or if you prefer to work with cash (either on the sending or the receiving end).

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Same BBB profile as two other services

Venmo is one of three PayPal companies in our review - those three come in first, second and third in our rankings, actually! - so as far as the Better Business Bureau goes, they're one and the same. As mentioned in the evaluations of the other two companies, PayPal's BBB listing looks a little lackluster: a "B" rating and more than 20,000 complaints (yes, you read that correctly). But, when you consider the excellent response track record, with all 20,000+ being responded to promptly and appropriately (and almost always resolving the issue 100%), that doesn't sound so bad.

Not as many service guarantees

Be aware that Venmo doesn't offer the same guarantees you'll get when using Xoom or PayPal itself. If you accidentally send money to the wrong person, or you buy a product or service that you're not happy with, Venmo doesn't have much in the way of recourse. We also found complaints from several personal and business users who said that their accounts were closed and they were banned permanently - with no explanation from Venmo reps. We imagine it has something to do with efforts to reduce fraud (like money laundering), but we'd like to see Venmo go further to explain things to their users when situations like that happen.

Good option - with some limitations

Venmo has rapidly gained popularity as a way for people to send each other money for just about anything, especially among friends. And, in most cases, it works well for that purpose - particularly given that most money transfers on the platform incur no fees on either end. But, Venmo has some quirks that could catch you off guard, like when you realize you paid a big bill out of your bank account instead of your balance or you send funds to the wrong person. Make sure you understand what Venmo can and can't do before you create your account, and you should find that this money transfer platform is a great resource.

Western Union Review 3 Star Rating

Western Union

3 Star Rating
  • Can be used to send/receive money domestically: Yes
  • Can be used to send/receive money internationally: Yes
  • Recipient must also have an account/use the app: No
  • Money can be transferred directly to a bank account or debit card: Yes
  • Money can be picked up in person: Yes
  • Can pay in cash in person: Yes
  • Can be used to pay a business: No
  • Can be used to pay bills: Yes
  • No-fee options: Limited

Not many money transfer services can claim a history that spans almost 200 years, but Western Union can. Their platform allows you to send money online to 200+ countries, and the Western Union network has more than 500,000 in-person agent locations.

Rewards program for frequent users

If you're a regular user of money transfer services, you should consider signing up for Western Union's rewards program. It's free to sign up, and if you enter your "My WU" number with each transaction, you'll earn a point for every dollar in fees that you pay. Those points can later be redeemed for discounts on service fees and other rewards.

Options for paying bills

Western Union can also be used to pay bills. Look for that option in the menu selections at the top of the site, search for the name of the biller (e.g. Duke Energy, Waste Management, even specific addresses for HOAs or landlords), then enter the account number and the send amount. Fees were reasonable, usually about 1% for paying a bill at an in-store Western Union location and about 4% for paying with a debit/credit card.

Higher fees than some

How did this money transfer service stack up against the competition? When we looked at our two sample transactions, sending $100 within the US and $1000 to Brazil, Western Union had similar options to other money transfer services like paying cash in-store or online via credit/debit card or bank account. However, some of their fees were considerably higher for the same services. A bank-to-bank transfer had a service charge of just $0.99 with a 0-5 business day timeframe from start to finish, while a cash payment in-store for cash pick-up had a fee of $12.50. The highest fee was $19.49 when funding the transfer with a credit card for a cash pick-up transaction.

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Watch out for fees and exchange rates

Our Brazil transaction fared even worse. Not only was the exchange rate much less favorable (Western Union would pay out 4685 reais for our $1000, while their competitors would pay 4800-4900), the fees were higher as well. Fees for cash-to-cash or cash-to-bank were $9, while online payment fees ranged from $2.99 to $29.99. However, we were surprised to see that if we chose a bank-to-bank transfer, there was no fee and the exchange rate was better (back up to 4900+ reais).

Customer satisfaction: just average

What about reputation? Obviously, millions of people around the world use Western Union for money transfers, and with 170+ years in the business it's certainly no fly-by-night operation. The Better Business Bureau gives the company a lackluster "B" rating, citing a failure "to resolve underlying causes of a pattern of complaints" like difficulties getting refunds, delayed transactions, and challenges getting payments from agent locations. Western Union didn't have a shocking number of complaints registered with the BBB - a little over 900 in the three years leading up to this evaluation - but we found more elsewhere. Out of 18,000 reviews, over 21% gave Western Union a rating of 1-3 stars. That's a lot of disappointed customers. Frequent comments describe endless paperwork hoops to jump through, transfers that should take a day still not arriving after several weeks, and unpleasant customer service representatives.

Not the best or the worst

Western Union gets points for availability and convenience, but it's not exactly a vote of confidence when we say that "at least this money transfer service isn't as bad as some of them" . You may want to see if a higher-ranked provider has options that meet your needs before you use Western Union.

Money Gram Review 3 Star Rating

Money Gram

3 Star Rating
  • Can be used to send/receive money domestically: Yes
  • Can be used to send/receive money internationally: Yes
  • Recipient must also have an account/use the app: No
  • Money can be transferred directly to a bank account or debit card: Yes
  • Money can be picked up in person: Yes
  • Can pay in cash in person: Yes
  • Can be used to pay a business: Yes
  • Can be used to pay bills: Sometimes
  • No-fee options: Limited

MoneyGram is a money transfer service that can be used online, through an app, at a kiosk or at any one of their more than 380,000 in-person locations. Over the last five years, MoneyGram has served almost 150 million people worldwide.

Options - at a cost

You'll get a lot of options when using MoneyGram - but they'll all cost you something. We priced out two scenarios: sending $100 to a recipient in Florida and $1000 to a recipient in Brazil. For the domestic money transfer, we could use our online bank account or debit/credit card ($1.99 fee), or we could bring cash to an in-person location (like a CVS pharmacy). With the latter option, there was no transfer fee if we selected a mobile wallet for the recipient's receive method, but a whopping $12.50 transfer fee if they wanted to pick up the money in cash.

Average fees for overseas transactions

How about sending that $1000 to Brazil? We would pay $12.99 in transfer fees for using a debit/credit card, but none if we used our online bank account. We could send the money either directly to our recipient's bank account or for cash pickup overseas; there were various fees depending on how we funded that transfer, ranging from $4.99 (from our online bank account to a cash pickup on their end) to $14.99 (paying with a debit/credit card to a cash pickup). We were surprised that there was actually a no-fee option for sending money to Brazil if we chose our online bank account and transferred the money directly to their bank account.

Can't get exact fees without creating account first

However, the only way you'll know exactly what your money transfer will cost is to create a MoneyGram account: the fees we mentioned are described as "estimates" until you log in. And, bear in mind that if you fund your transfer with a debit or credit card, the issuer may count it as a cash advance and charge their own fees and interest.

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Bill pay and other perks available

On the positive side, MoneyGram has a couple of features you might not find with other money transfer services. First, they offer a rewards program for customers who use them on a regular basis: it's free to join and gets you 20% off the fees on your second transaction after enrolling and 40% off every fifth transaction. Also, you may be able to pay certain bills through MoneyGram, either in person (fees vary depending on the payment location you choose) or online with your credit/debit card (also varies; as an example, we would pay $9.49 to pay an electric bill of $340). You can click on the Pay Bills tab at the top of the MoneyGram site to see if your car payments, utilities, or other bills are eligible.

Mixed reputation

MoneyGram's reputation is somewhat mixed: they have an "A+" from the BBB but not accreditation, and despite that perfect rating there were over 300 complaints filed there in the year leading up to this review. MoneyGram's listing at the BBB also references a 2018 settlement with the FTC and Department of Justice, for the company's failure to crack down on fraudulent money transfers.

Less expensive options out there

Overall, this money transfer service is fairly versatile but expensive to use, compared with many other no-fee options on the market. It's a decent choice for sending cash overseas, or even within the US if you need a platform that lets you send and receive money without being linked to a credit card or bank account. But, for most people, a higher-ranked service will be more convenient and cost less in the long run.

Ria Review 2.5 Star Rating

Ria

2.5 Star Rating
  • Can be used to send/receive money domestically: Yes
  • Can be used to send/receive money internationally: Yes
  • Recipient must also have an account/use the app: No
  • Money can be transferred directly to a bank account or debit card: Only bank
  • Money can be picked up in person: Yes
  • Can pay in cash in person: Yes
  • Can be used to pay a business: No
  • Can be used to pay bills: No
  • No-fee options: Limited

Ria is the money transfer service you've probably never heard of, even though it's been around since 1987. But, don't let the lack of name recognition fool you: this platform is the partner Walmart selected for their store-to-store transfer services available to customers. As of the time of this review, Ria had more than 447,000 locations in 160 countries.

Costly domestic money transfers

How did Ria measure up in our two use cases, sending $100 within the US and $1000 to Brazil? We had to visit a separate "Check Prices" page on their site to find out; when you enter the information on the main Ria page, it takes you to an account creation page and you have to verify your phone number. In our US test case, we had options for paying from our bank account, credit or debit card, or cash, and our recipient could either receive it to their bank account or as cash. Most combinations (bank-bank, bank-cash, cash-cash, etc.) had a fee of $9 on a $100 transfer, and any transactions funded with a credit card had a $10 fee. 9-10% is a pretty steep cost for domestic money transfers, and we didn't find any within the US that were fee-free (despite the main Ria page seeming to indicate that there were no-cost transactions available).

More reasonable fees on international transfers

In Brazil, we were surprised to see that the fees were so much lower even on a transaction of 10 times the dollar amount. We had the same four options for funding - bank, credit or debit card, cash - with recipient options of bank and home delivery. On a $1000 payment funded with a bank account or debit card, the fees were $5-$8 to send to their bank and $5-$15 for home delivery. Funding with a credit card incurred a $38 fee, regardless of the delivery method. Interestingly, we couldn't fund our payment with cash: we got an error message saying that the amount for that payment method exceeded Ria's maximum, but no information about their limits. Elsewhere on the Ria site, we found that their general limits are $2999.99 per day and $7999.99 in a 30-day period, regardless of funding or destination (and that residents of Oklahoma and Arizona have a limit of $999.99 per user per day).

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Security reviews delay payments

How about payment timeframes? Ria says that using a bank account may take up to 4 business days, while cash/credit/debit transfers are usually completed in 15 minutes. If you want to do a cash transfer in the US, your recipient will be able to get their payment at a participating 7-11 location with a PayNearMe barcode. We found a lot of customers who said that these timeframes aren't realistic, with security reviews adding 6-24 hours (or more) to the process for new customers and even sometimes for repeat Ria users.

Declining reputation with customers

Speaking of customer feedback, Ria doesn't fare so well. We found two separate listings with the BBB: one for their money transfers and another for their overall services. Inexplicably, the first has an "F" and no accreditation, while the second has an "A+" and accreditation. There were many more comments on the latter, so that leads us to believe that it's the more accurate listing for the company. Only 57 complaints had been filed against Ria with the BBB in the three years leading up to this review; compared with money transfer services with thousands of negative comments, that's fairly decent. On the other hand, reading through dozens of user reviews from the three months prior to this review on sites outside of the BBB, we found a different story. "Unprofessional" , "waste of time" , and "zero customer service" were just a few of the ways that unhappy Ria users describe the money transfer experience.

Look at other money transfer services first

We stop just short of giving Ria our lowest ranking, because of their long history in the money transfer marketplace and their partnerships with well-known companies like 7-11 and Walmart. But, with respect to fees, reputation and customer service, Ria is easily outmatched by several competitors. We encourage you to look at all of your options before you commit to using this money transfer service.

Zelle Review 2 Star Rating

Zelle

2 Star Rating
  • Can be used to send/receive money domestically: Yes
  • Can be used to send/receive money internationally: No
  • Recipient must also have an account/use the app: Yes
  • Money can be transferred directly to a bank account or debit card: Yes
  • Money can be picked up in person: No
  • Can pay in cash in person: No
  • Can be used to pay a business: No
  • Can be used to pay bills: No
  • No-fee options: Yes

If you have a US bank account, you may already have access to Zelle! This money transfer service is integrated into the mobile banking platforms of more than 800 financial institutions nationwide, and it allows you to send and receive money directly between accounts, with funds typically available within minutes.

Free to use

One reason people like Zelle is because it's free to use. While partner banks are allowed to charge fees on their end(s) of the transaction, the money transfer service itself doesn't require you to pay anything.

You may already have Zelle through mobile banking

Another aspect that makes Zelle popular is that it's widely available through the banking apps that many people are already using. You can access Zelle through your mobile banking app on your smartphone, or enroll your email or mobile number through the Zelle app itself. From there, all you have to do is enter the email address or mobile number of the person to whom you want to send money (as long as they have a US bank account too).

Very fast money transfers

Zelle ranks high in many third-party evaluations for being extremely fast. Your transaction should show as received within a minute or two of being transferred, especially if your recipient is already set up with Zelle. Otherwise, they'll need to take steps on their end to complete the payment.

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No guarantees when problems arise

On the other hand, Zelle isn't as robust as some of their competitors. You can't send or receive money outside of the United States, and both parties must have a US bank account. You're also not protected when transferring funds: if you accidentally send it to the wrong person, for example, you might not get your money back. That makes Venmo a less-than-ideal option if you're buying and selling things in person or online.

No customer support, no refunds

And, reputation-wise, Zelle gets very mixed reviews. Their parent company, Early Warning, has an "A+" rating and accreditation from the Better Business Bureau. And, since transactions are routed through the sender's and receiver's financial institutions, funds are as protected as any other exchange through the banks. On the other hand, if you experience problems or fraud of any kind, you have to take it up with your bank: Zelle doesn't offer customer support. That comes up often in the 300+ reviews we found that rated Zelle as a 1-star service. People also say that if your payment isn't accepted, it is extremely hard to get it returned to your account. Maybe that's not such a big deal if you're splitting a $30 lunch tab, but when you're sending $2000 in rent money it's a huge issue.

Better options elsewhere

While Zelle has been around for the better part of a decade or more, the service has fallen behind its peers, especially when it comes to reliability and customer service. You can't use it for overseas transactions, and you've got no recourse if your money transfer doesn't go as planned. We don't recommend using Zelle for large payments, and it might be a good idea to use a different service altogether.

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Continued from above...

But, if you need to use cash to fund your money transfer, or if your recipient needs to receive the funds in cash, don't worry. There are still plenty of options to do that as well. And, many money transfer platforms allow you to pay your bills, from car payments to trash collection, for a small fee.

How can you decide which money transfer service to choose? Actually, you may opt to use more than one, depending on where you're sending money and for what purpose (like paying bills vs. buying something online). Here are a few criteria to consider that can help you narrow down the options:

  • Types of transfers. Some platforms focus mostly on person-to-person transactions, like paying your friend for something she ordered and shared with you or your hairstylist after your latest cut. Others are more for sending money domestically and overseas, with heavy emphasis on cash transactions that can be picked up in person.
  • Fees. Depending on which service you use, you could transfer money for free or with significant charges. This is where having more than one option at your disposal comes in handy: use one platform for free transactions when you can, while using the fee-based services only when needed.
  • Reputation. What do other users say about their experiences with the money transfer service? Has the company gotten a favorable rating from the Better Business Bureau?
  • Guarantees. Does the platform guarantee that your funds will be transferred successfully? If you're using it to pay for goods and services, do you have any options for filing a dispute if something goes wrong?

TopConsumerReviews.com has reviewed and ranked the best money transfer services in the industry. We hope this information helps you choose the right platform for sending (and receiving) money easily and affordably!

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Money Transfer Service FAQ

It's just like the name suggests. Money transfer services let you send and receive money as needed. Most services can be used for personal reasons, like sharing a restaurant tab with friends, or for business purposes such as paying a babysitter or contractor.
That depends on the service you choose. There are options for going to an in-person location with cash and the recipient gets paid in cash, or 100% online services that let you do everything through an app connected to your bank account and/or credit card. Your money could be transferred immediately, or it might take several hours or more.
Yes, sometimes. Most of the person-to-person services that use an app or online platform have no-fee options, particularly if you're using your bank account (and not a credit card) to fund the transfer. However, if you're sending cash or using a credit card to pay for your transfer, expect per-transaction flat fees and a percentage fee based on the amount of money involved.
Some services allow that. You'll have to go in person to a location near you. Keep in mind that there will be fees associated with your money transfer, so bring enough cash to cover those as well.
Some of them do. In fact, there are money transfer services that specialize in international transactions only and don't offer any domestic options. If you're trying to send or receive money internationally, check that the transfer service offers that capability before you create an account online.
That's an important question. Not every money transfer service guarantees that your funds will arrive where you send them! It's a good idea to see what other customers have said about a service before you trust it with your money.
Sometimes. You could see a limit of $2,000 per day, especially for cash transfers. Online-only money transfer services tend to have higher limits, if they have any at all.
Check the terms of service for any platform you're considering. Particularly among the online money transfer services, there are restrictions as to how they can legally be used. Alternately, there may be certain guarantees (and fees!) when sending or receiving a transaction as a payment for goods and services, compared with doing it as a "friends and family" type of exchange.
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