Google Wallet: send money to anyone via Gmail
Is it easy to send an email? How about an option of sending money together with an email using just Google mail? Send funds to anyone having an email, even not necessarily gmail address.
Features of Google Wallet are constantly expanding. Now it is integrated with Gmail. It means that you can send funds to your friends and relatives who have email addresses fast and safe - even if they do not have Gmail accounts.
This option is free of charge if you send money from your bank account or from your Google Wallet balance. There is fee - 2,9% (min $ 0,30) - if you want to send money using your credit or debit card. This fee is charged from the sending customer only. If you are a receiver, you do not pay anything, regardless which method was chosen to send funds.
Google has also set limit for transactions. Currently they are the following: $10,000 transaction limit and $50,000 transaction limit for 5 day time frame. Limits may also be changed in future.
Time frames for such transactions are very convenient. If you send funds using Google Wallet balance and credit or debit cards, transaction will be done almost instant. When using bank wire, it may be longer. As it is stated on official website, it may take up to 10 business days.
Now a few words about the process itself. It is very simple - just several clicks and money are on the way to hit someone’s email address. To send funds you need to click “$” icon (over the attachment paperclip), enter the amount you want to send and press button “Send”.
This feature is going to be introduced to all US citizens 18+. So watch out this feature in your Gmail. If you are less than 18 years old, you can get access to this feature only if someone sends money to you.
Option of sending funds to email addresses or phone numbers is not innovative. Some payment systems already use it for a while. For instance, you can send money from your PayPal account to email address or phone number. To send funds you only need recipient’s email address of phone number, so that there is no need to share bank details.
You can send funds using bank transfer, credit or debit card or balance in your PayPal account. Your friend will receive it in his / her PayPal account, and if your friend doesn’t own one, PayPal support will help to create it easily.
The same option has Perfect Money. Every Perfect Money user can send money from Perfect Money account to anyone holding an email address. To do that not much information is required either: email address of the recipient, amount to send and Perfect Money account number from which money will be transferred. Recipient
get gets the email with the link to enter existing or create new Perfect Money account to receive funds.
Every day step by step integrating new options, as for instance sending money to people not familiar with electronic funds, makes world of digital commerce simpler and more available for everybody.