For one reason or another, you need to send money to a friend or loved one. Maybe there’s an upcoming special occasion, or perhaps you are repaying debt. No matter the reason, you might be curious about how to send money with a debit card.
We’ve put together this in-depth guide that will explain how to send money from your debit card, in nearly any situation. Here’s what’s in store (use the links to skip to a particular section):
- How To Send Money Online Using A Debit Card
- Sending Money From Your Debit Card
- Sending Money Domestically
- Sending Money Internationally
- Sending Money to Someone With No Bank Account
- Ready to Send Money Overseas Now?
Can I Send Money Using A Debit Card?
You’re used to the convenience of paying for goods and services with a swipe or a tap. When paying online, you expect a website’s shopping cart to manage the transaction process.
But, what if you want to use your debit card to transfer money to someone who doesn’t have a card reader or an online shopping cart? Maybe you’re wondering if that’s even possible?
The short answer is yes!
Gone are the days when the only options for sending money were wire transfers and/or snail-mail delivered checks. Today, you can send money online from the comfort of your home—technology on your side. Depending on where you need to send funds, and the amount you want to transfer, you’ve got several options. Find out which one is right for your situation.
Sending Money From Your Debit Card
Sending money from your debit card
You can use a debit card to send money regardless of whether your recipient lives in the same country as you or not. That said, your recipient’s location does impact your money transfer options. Sending money internationally requires a different process than sending money domestically from your debit card, but both processes are surprisingly simple once you know how to maneuver each type of transaction.
Before we explore the differences between domestic and international money transfer technologies, let’s look at the steps you’ll need to take to get started.
- Choose a money transfer service
- Determine how you want to send the funds:
- In-person
- Over the phone
- Via an app/online
- Submit your necessary information, and that of your recipient
- Verify that you’re ready to send the funds and submit
Looks easy, right? The first step is probably the toughest because of the sheer number of money transfer service options available. The following sections will give you the information you need to make an informed decision.
Sending Money Domestically
When you want to transfer funds from your debit card to a recipient in the U.S., an app makes the process fairly easy. Money transfer apps can handle the heavy lifting for you. Apps like PayPal, for example, allow users to send money through their mobile platform, or online using a web browser. Users can send money from a bank account for free, or with a credit or debit card for a fee.
Venmo, which is owned by PayPal, allows users to send money from a bank account or a debit card for free. After the money is transferred, funds remain in the recipient’s Venmo account until that time they are transferred to a bank. If time is not an issue, Venmo-to-bank transfers are free and take about two to three business days. If an instant transfer of the funds to a bank is required, Venmo charges users 1% of the transfer amount, up to $10, to complete the transaction. When using Venmo, both the sender and the recipient must download the app and connect to their bank accounts to transfer funds sent. Of note, users carrying a Venmo balance can send funds to other Venmo users without initiating a bank transfer.
Nowadays, even traditional wire transfer agencies like Moneygram and Western Union allow users to send funds using a debit card. Some sources report the potential for fees for transferring funds through both services are higher than their many of their app counterparts. If keeping costs low is important to you, it would be wise to do some research on the fees each service charges for sending money from a debit card domestically.
Sending Money Internationally
Behind the scenes, international funds transfer is more complicated than domestic, which is why it requires different technology. Though most international money transfer apps make the user experience straightforward, there are still fees associated with sending money abroad. Like any other money transfer method, it is important to do a bit of research on the fees associated with using a debit card to transfer money to an overseas recipient.
The majority of international money transfers are remittances, a transfer of funds sent by a person working abroad back to family or friends in their home country (though technically these funds can be sent both domestically and internationally.) Remittances are so common that they make-up a high percentage of some countries’ gross domestic product. To meet the growing need for international money transfer in the face of the increasingly complicated compliance issues related to remittances, more and more services have entered the market in recent years.
International remittance services do more than simply transfer money from one account to another. The process for overseas money transfer requires more steps. Here’s what this type of service will do for you:
- Process funds from your debit card
- Convert funds to the appropriate currency at the current exchange rate
- Deliver the funds to your recipient in another country
As far as options go, you’ve got several. See how the top international money transfer services stack up next to one another.
| Pangea Money Transfer | Moneygram | Western Union | Xoom
(by PayPal) |
Remitly | |
| Transaction Fees | $2.95+ | $7.99+** | $2.99 & up** | $9.99 & up** | $0-$3.99+** |
| Limits Per Transaction | $2,999 | $10,000 | $2,500 | $2,999- $50K** | $2,999-$60K** |
| Speed of Delivery in Business Days | Transfers with 30 seconds | Up to 4 days*** | Up to 4 days*** | Up to 3 days*** | Up to 5
days*** |
*Rates, prices, and terms in this table are subject to change and were last updated December 2020.
** Fees and transaction limits are determined by the remittance services themselves. Information in this table does not indicate fixed rates. It was drawn from a range of available information.
***Transfer speeds are determined by the remittance services themselves, and vary based on delivery and/or pick up method, country of recipient, and various other factors.
To make the transfer process easy for you, iOS and Android apps are offered by each of the international remittance services mentioned above.
Sending Money to Someone Without A Bank Account
Sending money to someone without a bank account
If your recipient doesn’t have a bank account, your options for sending money with a debit card are more limited. Don’t panic though—you still have solutions for domestic and international funds transfers.
To send a money transfer to a recipient without a bank account, you can leverage cash pick up options. Many banks and retail locations throughout the world are willing to hold onto funds sent through a remittance service until the receiver can pick them up. Cash pick up locations and fees vary by country.
A cash pick up is especially convenient when you use Pangea Money Transfer. When sending funds through the Pangea app, a user can select the branch of the retailer of their choosing from Pangea’s list of partners. Receivers will need to show the transfer code and an official ID at that designated pick up location. The transfer code will be displayed in the transaction receipt. Receivers will also get a text message (SMS) with the transfer code if a mobile number was entered in the receiver profile.
Ready to Send Money Overseas?
Send money overseas
If you want to send money with your debit card to Latin America or Asia today, Pangea can help. Use the app to send person-to-person funds quickly for a low, fixed fee. Your recipient will get access to their cash almost instantly, and if you get a friend to sign up, you’ll earn a referral fee, too! Get started with Pangea Money Transfer now.
