![]() ![]() Meanwhile, Western Union is a money transfer service with more than 42,000 centers across the US and 500,000 locations worldwide. If you use a payment app like PayPal, Venmo, or Cash App, your recipient may sign up for the app and link a prepaid debit card. PayPal, Venmo, Western Union, and Cash App are some of the most popular payment services that do not require you to own a bank account to receive money. Online payment services offer an easy way to send through your smartphone or computer. You can send money to an unbanked individual in the form of a gift card, but keep in mind that its usage is restricted to a specific purpose. ![]() Stores and some financial institutions have gift cards available. There's usually a purchase limit of $1,000 and a small fee under $5. Money orders can be purchased from a financial institution or store. If you are looking for a more traditional way of sending money, Cheng notes you can get a money order instead. ![]() Marguerita Cheng, CFP® professional, RICP, and chief executive officer at Blue Ocean Global Wealth, says you should not send cash through the mail ever. See Insider's best prepaid debit cards> 2. Be mindful of sign-up fees, monthly fees, and reload fees. You can find prepaid debit cards at financial institutions or grocery stores. Prepaid debit cards serve as common tool for sending money since they are easily activated and work similarly to regular debit cards. Prepaid debit cardsĪccording to a 2021 FDIC study, 32.8% of unbanked households commonly use prepaid debit cards. Ways to send money to someone without a bank account 1. We also included additional resources for unbanked individuals you can share. Here are five easy tools you can use for sending money. ![]() If you need to send money to someone without a bank account, there are easy transaction tools and resources available regardless of a person's banking situation. By clicking ‘Sign up’, you agree to receive marketing emails from InsiderĪs well as other partner offers and accept our ![]()
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