3. PayPal
PayPal can be a economical method for transferring money. PayPal allows individuals to transfer funds electronically from one PayPal account to another. It's free to send money through PayPal, though the recipient is charged a fee to cash the payment. For transfers up to $3,000 USD, the charge is 2.9%, plus $0.30 per transaction. Fees decrease slightly for larger transactions. International transaction fees tend to be about 1% higher, and keep in mind that you'll be charged an exchange rate on transfers made in international funds. (Want more convenience? See Managing Your Money: There's An App For That to learn more.)
4. Western Union or MoneyGram
Western Union and MoneyGram provide similar services that allow you to transfer money to a different city, state or country. They charge a flat rate for the transfer that is based on the speed of the transfer, the location you're sending money to and the amount of money you are sending. If you're doing an overseas or international transfer, you'll also be charged an exchange rate. These money transfer services don't generally offer a very competitive exchange rate, which results in a hidden charge if you transfer money using this method. However, one of the major benefits of these services is that they tend be both highly dependable and convenient.