How to Send Money to a Friend
Certain occurrences in life may necessitate sending money to a friend living in a different city. It is possible that your friend is in a financial bind, you want to send a cash gift, or that you need to repay funds from a past loan. Regardless of the method you use to send money to a friend, you want to make sure that the funds are secure and that your friend receives the money in a timely manner.
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Instructions
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Send money via PayPal. PayPal is one of the most popular ways to send money nowadays, because it is secure. Sign up for a PayPal account if you do not currently have one and make sure your friend has one as well. Obtain the recipient's details, like the email address or cell phone number. Send the funds by way of your cell or computer. Your friend will receive an email or text notification when the funds are available to him.
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Wire the money to your friend's bank account. If you have a bank account of your own, you can have your banking institution wire the funds directly to your friend's account. You will need your friend's name, the name of his bank, the bank's address and phone number, the bank's American Banking Association routing number (ABA) and your friend's bank account number. Once you have this information, contact your bank and it can initiate the transfer.
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Send the money using a person-to-person money transfer company like Western Union. Go to an authorized Western Union office in your area. Often grocery stores, gas stations and other businesses can perform these transfers. Find an agent location in your area by checking the Western Union website. Go into the nearest location and fill out the applicable money transfer form. As the sender, you provide details on the form, such as your name, address, the recipient's name, and the expected city where the recipient will pick up the funds. Give the agent the form and obtain the Money Transfer Control Number (MTCN). The MTCN is a reference number your friend can use to find out the status of the transfer and to expedite pick-up.
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Mail the funds to your friend via a personal check or a money order. Although this method may take longer, you can mail a personal check or money order via the United States Postal Service, FedEx or another mail service. Only send funds by way of a personal check or money order, so that the funds are not accessed by another person. If you choose to mail a personal check, make sure you remember the check number. A personal check may be held by your friend's bank before it is allowed to clear, so it may not be the most prompt way of sending funds. If you obtain a money order, hold onto your receipt and any information pertaining to the transaction. In a situation of loss or theft, holding onto this info will allow you to void the check or money order.
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Tips & Warnings
Never send cash in the mail.
References
Resources
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