People can send money online using wire transfers, online money orders, online bill payments, electronic commerce payments and through money transfer services, notes HowStuffWorks. People need a bank account or a credit card in order to use these services, and some require a fee for usage.Continue Reading
Wire transfers are movements of money between one bank account and another, made using the account and routing numbers of the accounts, states HowStuffWorks. It make take several hours for a wire transfer to go through, particularly for transactions between different banks. Online money orders can be sent domestically or internationally, and are usually available in smaller denominations than traditional money orders. People can send money online to businesses as one-time or recurring payments using online bill payment systems set up through their banks.
Consumers wishing to send money to pay for a product or service can use debit or credit cards that are linked to their bank accounts, notes HowStuffWorks. Many companies will offer to store payment information and use secure services on their websites to protect buyers. Electronic commerce payment services allow people to send money online to another person who also uses the service or to businesses that accept their payments. Money transfer services allow consumers to send money to someone else in the form of a bank deposit or prepaid credit card.Learn more about Personal Banking