Sending money has evolved dramatically with the digital age. Money transfer applications have simplified this process, and among them, Comun stands out as an excellent bank account option that allows integration with all the applications mentioned below.

How to transfer money in the USA: Types of transfers

There are three (3) main types of wire transfers in the United States, although new ones are emerging every day as technology advances:

• ACH (Automated Clearing House) Transfers: An electronic network used for funds transfers, primarily in the U.S. It is useful for recurring payments such as salaries and bills.
• Electronic, Wired, or "wire" transfers: Direct bank transfer which is usually faster but with an associated cost.
• Peer-to-Peer (P2P): Money transfers between individuals, usually through mobile applications or online platforms. In this article we will delve more deeply into this type of transfer.

The Best Applications to Send Money:

Zelle®:

Zelle® is an application that allows fast transfers directly between bank accounts in the U.S. It is known for its speed, as transfers are usually almost instantaneous.

Advantages:

• Almost instantaneous transfers.
• No fees to send or receive money.
• Broad acceptance among U.S. banks.

Disadvantages:

• Requires a bank account at a participating bank.
• Not ideal for international transactions.

You may be interested in this step-by-step on how to connect Zelle to your Comun account, especially in the following scenarios:

• If it is your first time
• If you have already connected to another digital bank
• If you have already connected to a traditional bank

Remitly:

Remitly is an application designed primarily for international remittances. It offers different delivery options and fees, depending on how quickly you want the money to arrive.

Advantages:

• Transparent rates.
• Flexible delivery options, including bank deposit, cash pick-up and mobile recharge.
• Promotions for new users.

Disadvantages:

• Rates may vary according to country and quantity shipped.
• Limitations on remittance amounts.

Western Union:

Western Union is one of the oldest and most trusted companies for sending money both domestically and internationally. It offers a wide range of shipping and pick-up options.

Advantages:

• Broad global presence with agents in more than 200 countries.
• Variety of delivery options, including bank deposit, cash pick-up and mobile recharge.
• History and reliability.

Disadvantages:

• Fees may be higher compared to other applications.
• Rates and transfer times may vary by delivery method and destination.

CashApp:

CashApp is an application that allows you to send, receive and invest money. It is known for its simplicity and additional features such as investing in stocks and cryptocurrencies.

Advantages:

• Simple and easy to use interface.
• Investment options in stocks and cryptocurrencies.
• Debit card available to users.

Disadvantages:

• Limitations on the availability of some features outside the U.S.
• Fees may apply when sending money with a credit card or making instant transfers.

You may be interested in: how to connect CashApp to your Comun account

Venmo:

Venmo is a P2P payment application that allows users to easily send and receive money to and from each other. It has a social component, where users can share their transactions with friends.

Advantages:

• Social component that allows users to share transactions.
• Integration with other services and stores.
• No fees for payments with Venmo balance, debit, bank or most major credit cards.

Disadvantages:

• Public transactions may raise privacy concerns.
• Fees for instant transfers and money transfers with credit cards.

You may be interested in: How to connect Venmo to your Comun account

Commun:

Comun is an online bank that allows its users to easily send and receive money to and from each other. Its ComunYa component can be connected to your contact directory to easily find friends or contacts using Comun and make or request a transfer immediately without exchanging bank details. Additionally, you can deposit money to your Comun bank account easily using your debit card from another bank, instantly.

Advantages:

• Immediate transactions
• 10,000 limit per transfer per day on card deposits
• Process 100% in Spanish
• We can confirm the identity of the person receiving the money because they already have an account with us.

Disadvantages

• The person you are sending money to must have a joint account, but it's easy to refer!

You may be interested in: how to send transfers to another Comun user

Other Featured Applications:

MoneyGram, Xoom, PayPal, Wise: These applications also offer robust solutions for sending money domestically and internationally, each with its own features, fees and benefits.

How to Send Money through these Applications

Sending money through digital applications has greatly simplified the traditional process of transferring funds. Although each app has its own interface and specific steps, most follow a similar pattern:

1. Registration: The first time you use an application, you will need to register by providing basic details such as name, address and contact details.
2. Account linking: Before sending money, you will need to link a funding source. This could be a bank account, credit card or debit card. Some applications also allow you to maintain a balance within the application.
3. Recipient selection: You can choose who to send money to by entering their email address, phone number or, in some applications, selecting directly from your contacts.
4. Entering the amount: Once you have selected the recipient, enter the amount you wish to send. Some applications offer the option to add a note or description.
5. Confirmation and shipping: Before finalizing, check the details to make sure everything is correct. Once confirmed, the money will be sent and, depending on the application and shipping method, it may be instantaneous or take a few days.

Safety Considerations

Security is paramount when it comes to financial transactions. Here are some recommendations to keep your funds and data safe:

• App verification: Make sure to download apps only from official stores such as Google Play Store or Apple App Store. Avoid downloading apps from unknown sources.
• Strong passwords: Use passwords that combine letters, numbers and symbols. Avoid using obvious personal information such as birth dates.
• Two-factor authentication: Whenever possible, enable two-factor authentication. This provides an additional layer of security, as it will require an additional code sent to your phone or email.
• Secure connections: Avoid making financial transactions on public Wi-Fi networks. If necessary, use a VPN to encrypt your connection.
• Regular updates: Keep your applications and operating systems up to date. Updates often include security patches for known vulnerabilities.

Conclusion

We live in an era where technology has revolutionized the way we manage our finances. Money transfer applications have eliminated geographic barriers and made transactions faster and more convenient. However, with convenience comes the responsibility to ensure that our transactions are secure. By choosing reliable applications, following security practices and being informed, we can take full advantage of these digital tools. Comun, along with the other applications mentioned, represents the future of financial transactions, combining efficiency with security.

‍