The world has become a global village. People are no longer limited by their borders, thanks to the technology that has enhanced socialism. Today, it is possible to buy something from China, donate money to a conservancy in Africa, and send a money gift to your distant friends and family all from your living room or office. You do not need to panic because you forgot about your friend’s big day and failed to purchase a present. Instead, you can add a smile to your friend or relative by taking advantage of the available money transfer solutions to send money from checking account instantly.
A few years ago, you needed to visit your bank personally to send money to your relatives, but that is all in the past. You no longer need to leave your working desk or your home to send money. As long as you have an internet connection, you can send money from credit card to bank account instantly with the help of third-party apps. The apps have different terms and conditions, with some allowing you to send money with minimal requirements. Some have transaction fees while others have transfer limits, and thus, you should look for the solution that best matches your money transfer needs.
Factors such as transfer speed, transaction fees, cash limit, and convenience are some of the factors that you should look out when choosing the best way to send money. It is also necessary to consider how the different platforms work. Some platforms let you send money online using bank account, while others require the sender and recipient to open individual accounts.
A Look at the Best Ways to Send Money from Checking Account Instantly
If you would like to send money online with credit card to your friends and relatives in the US, Venmo is a peer to peer money transfer solution that integrates the social media twist to the process of sending money. It is easy to request or send money to anyone with a Venmo account. The app does not charge any fee to send money online using a bank account and a debit card for most transactions. However, if you need an instant transfer, you will have to pay a minimum of 25 cents or 1-percent per transaction. When the transfer is funded by credit card, you will have to pay a 3-percent fee per transaction.
To send money with Venmo, you will have to link the account with a credit card, debit card, or bank account. To receive cash, you will need to connect the app with your checking account. The app has a maximum transfer limit per week of $299.99, but you can increase it to $2999.99 per week by validating the account with the birth date, Zip code, and social security number. Venmo keeps your money safe using two-factor authentication as well as a PIN-and fingerprint login.
- It is effortless to send and receive cash
- It is compatible with sites that use PayPal
- It has low transaction amounts
Zelle is a straight forward money sending app that brings together different banks, enabling their clients to enjoy free, instant cash transfers. The app is available from the apps of the banks that support it or as a standalone app. Zelle currently works with Capital One, Wells Fargo, Chase, Citibank, and bank of America, among others. However, the list of banks keeps growing. It is free and instant to send money with Zelle as long as you are a member of the banks that support the app. It is the most convenient and user-friendly app as it does not charge fees to send money from checking account instantly. If the receiver does not belong to a bank that supports the app, the person will need to download the app and register with the debit card information to get the money. Unfortunately, the transfer is not instant for people who bank with banks that do not partner with the app. You will wait for up to a day to receive your cash. The amount you can send or receive will depend on your bank limits. Nevertheless, those who bank with banks that do not partner with the app have a seven day limit of $300.
- It offers instant money transfer
- It does not have transaction fees
- The benefits are limited to users of banks in partnership with the app.
3. Google Pay
Google Pay brings money transfer service to the famous group of Google apps and tools. The service offers Google users with the convenience of paying with a card without the need to physically have the card. It is easy to use the service to send money with checking account number as you only need to input your card details during the signup process. Google pay is different from other apps in that in addition to letting users send money, and it also supports in-app, in-store, and online purchases. The service is currently available in 28 countries and has a backing of the major banks in the U.S. and countries that it is present. The app is hardware reliant and only works with devices that support NFC technology, which limits its availability.
- It works with major banks
- It is easy to add payment details
- It supports in-app and online purchases
- It only works with devices that support NFC technology
- Everything is dependent on your device
4. Square Cash
Sending money to your friends and loved ones do not need to be complicated or expensive thanks to the Square Cash money transfer app. The app is unique for its simplicity. It has guiding prompts that let you send or receive money without experiencing any handles. Square cash requires you to use email address, phone number, and $Cashtags to send or receive money. The service transfers money from your checking account to the recipient’s debit card through your debit card. The service is free to use for all your personal payments, but businesses are charged a transaction fee of 1.5 percent to receive payments. It also does not need any app installation or linking to social media platforms. You can only use Square Cash to send online money from a debit card, but you can receive payments to your bank account.
- Free for personal payments
- Cheap 1.5-percent transactional fee for businesses
- Does not require software or app installation
- You do not need to create an account
- It does not support overseas payment
- It does not work with ATM cards and prepaid debit cards
Popmoney is a good option if you are looking to send money from your bank account to the bank account of the recipient. The platform uses the Automated Clearing House (ACH) network to enable individuals to send money to their friends and relatives. The platform does not have a balance holding capability, and it is an end-to-end service. Although its main goal is to transfer money among friends, you can use the service to pay for goods and services. However, you should be careful when using the personal service for business payments as it does not come with fraud protection. The transaction takes several days to complete and thus, you should avoid using it to pay for time-sensitive bills.
- It is a bank to bank transfer service
- It is free and easy to use
- It is widely available
- It does not have fraud protection
- Transactions take days to complete
If you are looking for a money transfer option that can help you send money from checking account instantly to overseas recipients, you will love the flexibility and convenience of Transferwise. The application is considered the best money transfer solution to use to send money to Germany, India, United Kingdom and Mexico. The service does not come with an exchange-rate-markup on its transfers and thus, you can benefit from market fluctuations. Transferwise service has some of the lowest international transfer fees that include a standard flat amount of about $1 and a percentage of less than 1-percent. Although it is affordable for international transfers, its pricing becomes expensive for local transfers as some apps offer free local transfers. It supports several payment options that include debit card, bank account and credit card, but you will need a bank account to receive money. The minimum transfer for most Americans is $15,000 for the first transfer that is later increased to $20,000 using ACH and $1 million with a bank transfer.
- It is transparent with a calculator that shows you fees and rates
- It has a straightforward setup process
- It supports worldwide payments
- You cannot reach customer service by phone over the weekend.
The biggest challenge with international transfers is that small money transfers are not feasible due to fixed rates that make the transfers costly. OFX was launched in 1998 as a cost-friendly alternative for businesses and individuals looking for affordable international money transfer. Despite being cheaper than the traditional money transfer options, the service is also faster. OFX is a good choice for businesses and individuals that make small, regular money transfers. Most of the money transfers are processed within 24 hours, which makes it ideal for emergency purposes. You will need to lock-in a currency rate to start the transfer process and then enter the amount and bank details of the recipient. Once you process the transaction, the amount goes to a segregated OFX account. The money is then processed to the recipient’s account within 24 hours.
- It has the best rates for smaller international money transfers
- It is quick with most transfers happening within 24 hours
- The funds are deposited into the recipient bank account
- The customer service team is available by phone 24 hours in 7 days
- Information on minimum transfers is contradictory
- It does not support debit or credit card funding
With a large local network across Europe, America, Africa and Oceania, RIA is a popular money transfer provider that offers both physical and online presence. The service is also available on mobile platforms enabling users in the U.S, Spain, U.K, and Australia to send money from checking accounts instantly with the money sent available the same day. The platform is popular, with individuals sending smaller amounts of money. It has a maximum amount of $2999 per transaction, but the amount can be increased with further proof of identification. The maximum amount you can send in a month is $7,999, which can be limiting for some people and businesses. Ria provides first-time users with attractive welcome offers. Unlike other international money transfer options, Ria is more friendly to users as it allows people to send and collect money through local agents. The exchange rates vary between 1.5 to 2.5 percent, which is higher than most money transfer providers.
- It has a large local presence across the world
- The presence of local agents makes it easy to transfer and receive money
- It does not have minimum amounts that you can send
- The maximum limit is smaller than what is offered by other providers
- The exchange rates are higher
- Online and physical transfer fee differ
WorldRemit is a game-changing money transfer provider that keeps innovating different ways to increase convenience across its way of doing business. Countries have different possible combinations with customers in some places being able to send money online using a bank account, local agents, and mobile wallets. The company claims that a third of its money transfers are received on mobile phones. The service allows individuals to receive cash via Mpesa, Airtel Money, MTN mobile money, Tigo, and Globe Cash, among others. If you are not ready to look for local agents, you can quickly and conveniently setup online money transfer from debit card through the WorldRemit website and mobile app. The transnational fees vary from one country to another, which means that it has some of the cheapest options for countries like Nigeria and Mexico. However, the fees for other countries may be higher than what other providers charge.
- It is easy and quick to open and set up an account
- It allows recipients to receive money on mobile phone wallets
- It is friendly to users with different needs
- Some transfers are usually delayed.
Xoom is a product of Paypal that offers international money transfers. The company lets you send money from checking account instantly to a recipient’s bank account, home delivery and cash pick up. The service is available in 70 countries. You can send money through the app or website and track. The unique aspect about Xoom is that you are able to track the transactions online. The fees for every transaction vary depending on the payment method, collection mode and the country of destination. However, Xoom offers an exchange rate calculator that you can use to know the cost of your money transfer. You will need to register and link the account with your preferred mode of payment before you can send money. You will also need to enter the recipient details, including the bank account, if you would like a direct deposit into the recipient’s account. Once you send the money, you can track the transaction to see when it is received.
- It offers instant money transfer
- It has a readily available customer care service
- It supports cash pick up and bank deposit
- The transnational fees are higher than some of the other money transfer providers.
FAQs for Send Money from Checking Account Instantly
Q. How can I send money to someone from the checking account?
There are several ways you can send money from a checking account, with some options being more straightforward than others. The methods of transfer also depend on how you would like to receiver to get the money. You can send money from checking account instantly to the receiver’s bank account or use a service that will allow your friend to withdraw money into their bank account. You can use a service like TransferWise to send money online using a bank account to the account of your friend instantly. The other alternative is to use a service provider like Zelle and PopMoney to send money. The best option will depend on the speed, cost, and convenience to both parties.
Q. How do I transfer money using my account number and routing number?
There are several ways you can transfer money using your account and routing number, depending on your preferences, choices, and trust between you and the receiver. The common method of transfer is bank to bank. You can send money conveniently with a routing number and account number of the recipient, or you can use a wire transfer. You can also use Billpay or service like Zelle to send money online using a bank account using a routing and a checking number.
Q. Can someone withdraw money with my account number and routing number?
Yes, it is possible. Your routing number and account number can be used to set up electronic withdrawals and deposits from your account. Although it is necessary to give the details on some occasions, you should be careful as they can be used for fraud. You should only authorize ACH withdrawals and transfers through a secure web page and written forms to individuals and businesses that you trust.
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Before you send money from checking account instantly, you should not compromise on the security of your details for whatever reason. You should only use reliable and well-known money transfer providers through a secure network. It is also necessary to use a provider that offers high data encryption to ensure that your data is safe as hacking and other leaks can put your account in jeopardy.