How to Send Money to Someone Without Bank Account5 min read

A Bank account is such an indispensable thing in today’s world that it almost seems inconceivable that someone does not have a bank account and is looking for ways to get money without a Bank account.

But It is true according to a survey there are millions of people just in USA without a bank account. 

There are a number of reasons for which a person does not open a bank account but we are not going to discuss those in this blog post, we will tell you how you can transfer or receive money without a bank account.

Let’s look at some of the ways how you can send or receive money without a bank account-:

E-wallet

There are a bunch of E-wallets available in the market which you can use to transfer money instantly to anyone for free and all you need to do is attach a prepaid debit card and send the money using phone number or email address.

Some popular examples of these e-wallets are Ecopayz, Venmo, Square Cash, PayPal, cash app, etc.

Try them and see what suits you best.

Pros

1. It is fast, free and secure
2. Does not require any bank account or credit checks
3. It can be topped-up via Online and Offline through a bank
4. You can make purchases at millions of locations
5. Rewards for sending money

Cons

1. Both parties need to have the same application in order to do a free transfer.
2. Some times prepaid debit card are not accepted
3. Does not work without Internet
4. Giving away sensitive information

Prepaid Card Services

There are a variety of prepaid card services available where you can use the cash to top up the prepaid debit card and then give that card to a recipient. You can find these services easily at Walmart or at gas stations.

Pros

1. It’s hassle free and fast
2. Loss due to theft is limited
3. No overspending problem

Cons

1. Sometimes it requires a bank account
2. You have a limit of $2,500 to $20,000
3. Fees associated with issuing cards and sometimes maintaining it.

Western Union

Over decades people have been using western union for transferring money within or outside the USA and it is very reliable and secure as it offers various options like Online transfer, Over the phone and In Person.

You can be charged upto 5$ for sending 50$ within USA

Pros

1. Fast and Reliable
2. Easy to pick up money anywhere
3. More than 50000 locations around the world

Cons

1. Fees is hefty
2. Disclaimer- Western union is not responsible for any damages
3. Possible use by scammers

Walmart to Walmart

If you happen to be near a Walmart and wants to send some small cash quickly and does not care about some extra fees then it can be a good option for you.

The fees to transfer money depends on various things i.e. $ 4 fee for transfers of up to $ 50, charge of $ 8 for transfers of $ 51 to $ 1,000 and rate of $ 16 for transfers of $ 1,001 to $ 2,500.

Pros

• Fast, secure
• You can send money Internationally

Cons

• You can send a maximum of 2500$/day or 6000$/month
• Fees is a bit more compared to other alternatives

Money Order

Money orders are considered a very safe option compared to sending the actual cash and it was a popular option in those days but now we have more fast and reliable options compared to that like online transfer.

Let us explain how money order actually works You buy money order for the amount you wish to send to someone and then you pay some fees upfront and mention the contact details of the recipient and when they receive that they can easily cash it out.

You can easily get one for less than 2$ anywhere whether at a Walmart or post office.

For ex. You wish to send 800$ as the rent to your landlord then all you have to do is visit your local Walmart or post office and buy the money order for the amount i.e. 800$ plus the fees like 0.80$ for Walmart and around 1.2$ for post office and you just mention the contact info and send it over and the landlord will be able to cash it out.

Pros

1. Person wants a money order – Some times when you are buying something from an unknown private seller and they don’t want your check as it may bounce so they may demand for money order
2. Not carrying large amount of cash

Cons

1. Fees can add up – When you need to send a large amount i.e. above 1000$ then you need to send multiple money orders and the fees to a single money order may look small to you but it can add up if you need to send multiple money orders.
2. An easy target for thieves and scammers – Since it is just a paper and no special extra layer of security is there to protect it from scammers and thieves.
3. In-convenient – Compared to online transfers or giving a check from your checkbook money order seems like a bit of work

Facebook Messenger

Now, You can use Facebook messenger to transfer the money to someone using the messenger platform . All you have to do is click on the dollar sign in the chat and you will be able to send the money quicky

Pros

• Fast and free to use

Cons

• Not safe for transferring large amounts
• Needs a Facebook account to use

Crypto Currencies

It is a very new emerging technology and may not be a safe bet for most of the nontechnical people out there but still, it is an option. All you have to do is just download a crypto wallet and buy a cryptocurrency and then send the crypto to the wallet id of the recipient.

Pros

• Virtually untraceable
• Spammer proof

Cons

• Not Safe and reliable
• Sometimes requires a Bank Account

Cash Transfer

We don’t think we need to introduce this any further it is pretty self explanatory . It is by far the best option available in many ways but it has its shortcomings.

Pros

1. Fast, reliable secure

Cons

1. Cannot transfer to a long distance
2. Random mishappening can happen to you

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Final Words

I hope we were able to help you in sending the money without a bank account. If you have any questions regarding this kindly comment down below and we will respond to that asap.