How to Transfer Money Online: 3 Fool-Proof Methods for 2022

Since the good old days of paying folks with cash, it seems like new ways to transfer money online pop up every year! The COVID-19 pandemic was the final straw, making contactless payment methods more popular and easier to find than ever.

Navigating the crowded field and picking an option is often the most challenging part of modern money transfers.

Take some tips from this handy list of money transfer technologies.

1. Transfer With PayPal

PayPal was one of the first online money transfer options, making it a top contender with nearly 400 million active registered accounts and rising.

Yet, that figure understates how many people use the platform. One handy aspect of the platform is that you don’t need an account to pay a merchant or individual.

Another significant benefit is that PayPal works all over the world. You don’t need to be in the same country as someone to send them money, and it calculates exchange rates for you.

There’s no fee for transferring to and from bank accounts if you can wait a couple of business days. If you want the money in your account a few minutes later, you can do an instant debit card transfer for a small fee.

2. Bank Wire Transfers Both Online and In-Person

Most online money transfer services limit how much you can send within a single transaction or single day. That’s not the case with wire transfers, which you can do both online and in-person. They’ve been around since the age of telegrams in the 1800s, but they’re still every bit as useful.

When you’re looking for ways to transfer money online, free apps abound. On the other hand, fees are the biggest downside of bank wire transfers. However, the typical $20 or $30 is a small price to pay if you’re hoping to bypass other apps’ transfer limits.

The other caveat is that money transfers tend to work best for same-country transactions.

Some online transfer platforms let you conduct wire transfers through their sites. Whether the transfer costs more, less, or the same as you’d pay if you used a bank’s website or walked into a branch varies between platforms.

3. Transfer With Wise

Wise, which you may know as TransferWise, is one of the most affordable online money transfer options. Wise has low, easy-to-understand fees that you can read more about at They’re based on fixed percentages, eliminating guesswork.

Unlike some money transfer apps and most banks, Wise does not mark up money conversion rates. You can rest assured that you’re not paying any hidden fees when switching between currencies.

Wise is also known for its intuitive platform and outstanding customer service. If you’re new to money transfers and aren’t used to all the jargon and confusing small print, Wise may be the ideal service for you.

Learn to Transfer Money Online and Other Indispensable Tips

These handy ways to transfer money online will streamline your purchases and make it easier to lend money to friends and family.

If you like to simplify your life so you can devote time and energy to the things you value most, you’re in the right place. Click on another one of our articles for more must-know life hacks and nifty advice.