5 Ways to Send Money Online


Online Money Order

Traditional money orders are pretty easy to buy since they're available at post offices, grocery stores and banks, but did you know you can also purchase them online? The majority of banks and transfer services don't offer an option to pay for money orders over the Internet, but there are several companies who do.

Generally, online money orders -- which can be sent domestically or internationally -- are much smaller in amount than those purchased in person. For example, the online service Payko has a $200 daily limit on money orders, whereas a paper order purchased at a post office can be bought in multiple $1,000 increments. Also, online money order fees tend to be a little higher, at $3 or $4 per order, plus up to 5.49 percent of the amount you're sending, depending on how much you buy and where it's going. A physical money order will only run you $1.50 [source: Bank of America].