Methods for sending high values of money

Whether you need to send money to a friend, pay a bill or split the cost of dinner with a family member, there are many ways to get it done. But not all methods are as speedy or secure as they claim.

The best way to send large amounts of money is by using a specialist service. While it can be expensive, the transfer is usually fast and delivered straight to the recipient’s bank account.

Bank-to-bank transfers

Bank-to-bank transfers are an easy and convenient way to send high values of money. Whether you’re looking to pay off a mortgage, buy a car or pay for a vacation, this is one of the most popular methods for sending cash.

You’ll need to know the account numbers and routing numbers of both accounts you want to transfer funds from. You can find these in the bank’s app or online.

For a domestic bank-to-bank transfer, it typically takes up to two business days for funds to arrive, though domestic transfers are sometimes received the same day. International transfers can take up to a week and may have a higher wire transfer fee.

Peer-to-peer transfer apps like PayPal, Venmo and Zelle are also popular ways to send and receive cash. These services use linked bank accounts and charge fees, but they usually offer faster and more secure ways to move funds than wire transfers.

Wire transfers

Wire transfers are one of the most common methods for sending high values of money. They are fast, secure and generally safe.

A wire transfer involves an electronic payment service that travels over a network such as Society for Worldwide Interbank Financial Telecommunication (SWIFT), Federal Reserve Wire Network (Fedwire) or Clearing House Interbank Payments System (CHIPS). Fedwire largely processes domestic wires, SWIFT mainly processes international wires and CHIPS can process both.

Because wire transfers are irrevocable, they can be used when a payer needs to make a payment quickly and cannot wait for a check to clear. Additionally, wire transfers often provide a reference number that can be tracked. This ensures that the receiver will receive funds when they are due.

Prepaid debit cards

Prepaid debit cards are a convenient way for people without bank accounts to make purchases. They can also be used to cash paychecks or to pay bills online.

But these cards have limitations compared to traditional checking accounts and credit cards. They don’t help build credit and they lack many of the features you’d expect with a checking account, such as free withdrawals at ATMs.

Moreover, prepaid debit cards often come with a lot of fees. They can include monthly maintenance, load, transaction and ATM fees.

If you’re considering using a prepaid debit card, it’s important to read the fee schedule before you sign up.

It’s also important to know the common signs of a scam. For example, never give a serial number or purchase information to anyone you don’t know, and be wary of offers that ask you to pay an advance fee for something you won’t receive or to collect on a prize you didn’t win.


PayPal is one of the best ways to send high values of money online. It’s easy to use and requires no merchant account to process payments.

It is available in over 200 countries, and more than 19 million businesses and individuals use PayPal. It is also known for its buyer protection program, which ensures that buyers get a full refund if they’re not satisfied with their purchase.

In addition to offering safe, secure transactions, PayPal is one of the easiest methods for sending money to friends and family. It also allows you to make purchases and pay bills using your linked credit, debit or other payment accounts.

However, PayPal does charge a fee for certain types of transactions. For example, sending money to a friend is free, but sending money for goods and services comes with a 2.9 percent transaction fee and a 5% fee that covers currency conversion.