How Do You Transfer Money Online?

In the past, the only method for transferring money was the Automated Clearing House (ACH) wire transfers. Still used today, ACH transfers are typically used for paying employees via direct deposit and business-to-business transactions. Most money sent between individuals today is via electronic fund transfer (EFT). To clarify, the vast majority of banks use both electronic fund transfers and ACH wire transfers to send money. There are dozens of reliable, secure options for transferring money online to a friend, family member, or business. Be diligent in shopping for online money transfer services. Only trust your money with large, well-established companies. Never trust individuals who promise to transfer your money safely. Here's a list of the Internet's best money transfer providers. All of these service providers are fully vetted and among the most reputable financial institutions in the world. You don't need a smartphone to use PayPal, Google Pay, or Western Union.