Skip to toolbar

How to send money to college student cheaply and easily?

There are plenty of ways to send money to college student or pay someone, whether it’s your half of the rent or your share of last week’s bar tab. Here are the best ways to send money.

You can give this to someone as a present. I’ll order the thing that weekend. Put on your bill, I’ll give you a $20. When it comes to dividing a birthday present or paying a portion of the rent, you want to be more precise and accurate.

It used to be the only way to give money to a friend was to write a cheque, then take it to the bank. But who has cheques anymore?

The easiest ways to give money or send money to college student are:

Cash can be used to send money to college student.

Max transfer amount: No limit

Fee: None

International: No

Ah, yeah. Oh, sweet, dependable cash. Pretty much anyone’s favorite currency, everywhere. There is no limit on how much money you can send to college student, no transfer fee, and no waiting time. An envelope of dollar bills is the way to go for a fast and simple repayment, but it should be remembered that there would be no history of the transaction, something that may make those who are more prudent nervous.

Bank transfer is another option to send money to college student

Max transfer amount: No limit, although there may be internal transfer limits

Fee: Depends on your bank’s policies

International: Yes

If you and your friend happen to be clients of the same bank, you would most likely have the option of transferring money free of charge to their account. It’s standard practice to charge a transfer fee if they have an account at a different financial institution.

You’ll also need the account number and routing number for your mate, which may take some time to track down. There are many banks that let you send money to college student or anyone for free using their email address, including Bank of America and Wells Fargo.

Before sending any money, check with your bank first to prevent any misunderstanding or unnecessary fees.

PayPal, the safest option to send money to college student

Max transfer amount: $10,000 per transaction

Fee: Free if using PayPal balance or bank account

International: Yes

PayPal has been around for years now and is one of the easiest ways to transfer/send money to college student or others (if you both have PayPal accounts). If you transfer money from your PayPal account balance or your bank account through PayPal, there is no cost, but PayPal charges fees for money sent through a debit or credit card (2.9 percent of the total sum plus an extra $0.30).

Related: Beyond PayPal: Online Paid Applications

Google Wallet

Max transfer amount: $9,999 per transaction or $50,000 per 5-day period.

Fee: Free

International: No

With Google Wallet, you can use their email address or phone number to send money to college student or anyone in the US. When the money is collected by your mate, they will cash out their debit card for easier access to their bank account.

An added bonus: The mobile app for Google Wallet is extremely stable. You can only access the app with your Google Payments PIN and you can quickly uninstall access to your account if you lose your phone.

Venmo

Max transfer amount: $2,999 per week

Fee: Free

International: No

The digital wallet app for PayPal, Venmo, has rapidly become extremely popular. Not only can you quickly send money to college student from your phone, it also serves as a social network; you can see a feed on the Venmo transactions of your friends.

The logic behind this? It makes you “remember the moments you share with friends,” Venmo claims.

When you submit money using your Venmo balance or bank account, Venmo is free, just like Google Wallet and PayPal. For credit cards, they charge a 3 percent fee.

Xoom

Max transfer amount: $2,999 per week

Fee: No

International: Yes

Xoom, the sister app of Venmo, is also owned and similarly run by PayPal, but is intended for sending money abroad (55 countries as of now). Fees differ depending on the country where your friend lives; if you pay with your bank account, your fees would be the lowest.

Xoom has a helpful online fee calculator, if you’re unsure.

USForex

Max transfer amount: $2,999 per week

Fee: Yes, for transactions below $5,000

International: Yes

USForex is difficult to beat, whether you need to submit huge sums of cash at home or abroad. Before you move any currency, USForex accepts all major currencies and allows you to lock in an exchange rate.

You’re not charged a transfer fee if you submit an amount above $5,000; anything below that amount has a flat transfer fee of $5.

While USForex provides the flexibility of both its online service and a mobile app, if you need someone to make the transfer for you, you can also call, and one of its dealers will be able to help.

We will be happy to hear your thoughts

Leave a reply

GoldJam