Sending money to family and friends overseas can be a challenge if they don’t have a bank account. Fortunately, technology has made it easier than ever to transfer funds securely, despite your recipient’s financial set up. Let’s discuss 3 ways you can send money to someone who doesn’t have a bank account.
Money transfer app
Online money transfer apps like OrbitRemit have revolutionised the way we send money across borders. Thanks to this technology, sending and receiving money from overseas is even accessible for people who don’t have a bank account.
With OrbitRemit, there are two methods you can use to send money to a recipient with no bank account. We’ll outline them below.
- Cash pick up
Cash pick up is a great option for people who don’t have a bank account or prefer to deal with physical money. This method allows you to send money from your bank account to a designated cash pick up location. Your recipient can then visit this location and receive the funds in cash.
Orbit Remit offers cash pick up services to the Philippines, Bangladesh, Nepal and Vietnam. To initiate this kind of transfer, you will need just a few pieces of information from your recipient. Check out our Help Centre to learn more about how to pay a person in these countries who can collect your transfer in cash.
Once the transfer has been made, your recipient will be notified they can collect the cash from your destination of choice. They’ll need to bring a valid identification document to confirm it’s them.
- Mobile wallet
Sending to a mobile wallet (e.g. GCash in the Philippines) is another great solution if you need to transfer money to a person without a bank account. Mobile wallets are digital wallets that you can use to store financial information as well as send and receive money. They allow fast and secure online payments and recipients don’t usually need to set up a bank account to receive the funds.
If your recipient is in the Philippines, China, Fiji, Samoa or South Korea, you can send money directly to their mobile wallet with OrbitRemit. The funds will be immediately accessible as soon as they reach the recipient’s wallet.
Money orders
A money order is like a prepaid check that’s used as a form of payment. You buy it from places like the post office or a bank, specify the amount you want and pay for it with a small fee for postage. Once it arrives to your recipient, they can cash it in for the amount you specified.
Money orders have been a traditional method of payment to people without a bank account for a long time. They aren’t as fast as digital alternatives like OrbitRemit, but they are still a safe option to transfer money.
Mailing cash
Sending physical cash through the postage system remains an option when your recipient doesn’t have a bank account, but it’s risky for obvious reasons. It’s not the fastest option or the most secure, leaving your cash open to potential loss or theft.
You may also need to convert your currency before sending it by mail and unless you pay extra for tracking, will be unsure of its whereabouts until it reaches its destination.
If you need help sending money to someone who doesn’t have a bank account, please visit OrbitRemit’s Help Centre or get in touch with our friendly support team. We are dedicated to helping customers make money transfers fast, simple and cost-effective no matter the payout method.