How to Send Money | THE WIRE

So you have to send money. Maybe you want to download a few $20 bills for a birthday card. Maybe it’s a higher salary for some undocumented work, which is not available in the books. In any case, it would be a pain to send paper money without worrying about it unexpectedly falling out of someone’s pocket.

Kevin L. Matthews, a financial advisor who provides financial advice: WIRED already. “It’s not something I would recommend.”

He says the problem is that if things don’t go well and the money goes missing, there’s nothing you can do. There are better ways to transfer money, but if you need to get your money from one bank to another, here are some great ways to do it without getting ripped off.

Don’t be fooled

To be clear, you shouldn’t just invest a lot of money in newsletters and hope for the best. There is a high chance that it will be lost, stolen, or end up in the hands of someone you don’t want.

And to that end, if you’re sending someone a payment of any kind, ask yourself these important questions: Do you even know the person you’re sending money to? Have you voted for an organization that wants to get your cross to the right place? Are there good characters? Does the money transfer method seem the best? If any of these questions give you pause, it’s probably a scam.

Nerves are growing rapidly, says Matthews, and are becoming increasingly difficult to detect regularly. “The first rule is, don’t send money to anyone you don’t know. And don’t be afraid to call and check. It’s always my choice. Pay attention to detail, verify information, and make sure it makes sense. Because most of the time when the money goes out the door, it doesn’t come back.”

There are many ways to protect yourself and your loved ones removed and self-defense from fake AI calls. (Grandpa, I promise you, Charter.bot texting to ask you to send gift cards is not an acceptable way to pay your cable bill.)

Paper Trail

There are ways to send money safely. If you’re just sending a small amount, like slapping a fiver on a birthday card, using regular mail may be fine. You are at risk of loss, as with anything you post. But if you care about getting the money where it’s supposed to go, you need to insure it or send a money order.

In the US, you are allowed to send money up to $500 without registering it with the US Postal Service. It’s technically not allowed to send bulk via US Mail, nor is it a good idea. If you want to send money and not worry about Uncle Sam knowing, you can verify your package for up to $50,000. There are a few caveats, however.