Best Ways to Send Money as a Teen

Fintech improvements have made it simpler to maneuver cash from one account to a different. With fee switch apps, you possibly can pay pals, relations, or others out of your cell system inside minutes. If you wish to ship cash as a teen on-line, you’ve gotten loads of choices to select from. Earlier than sending cash to a teen, it is necessary to grasp the charges and dangers concerned with all of your choices.

Key Takeaways

  • Cash switch apps make it straightforward to ship funds to different folks, together with teenagers, utilizing an e-mail deal with or cellphone quantity.
  • Some cash switch apps and digital wallets have age restrictions.
  • Teenagers can ship cash through the use of ACH transfers from a checking account and utilizing person-to-person funds.
  • Teenagers may also depend on conventional strategies of ship cash like utilizing cash orders, checks, or money funds.

What It Means to Ship Cash Digitally

Digital funds are the transfers or actions of worth from account to a different by means of digital means. Digital funds could be despatched and obtained from a cell system, laptop, level of sale (POS) terminal or wire switch community.

If you ship a digital fee, no money modifications arms. You are authorizing a financial institution or cash switch service to ship funds out of your account to another person’s account. For a digital fee to course of contains:

  • Payer: the individual sending the fee
  • Payee: the individual or enterprise receiving the fee
  • Fee community: relationship between the financial institution that sends the cash and the financial institution that receives it.

This is how the digital fee course of typically works:

  • A payer initiates a fee by telling their financial institution the place to ship the cash and in what quantity.
  • The knowledge, together with the recipient’s checking account quantity and routing quantity, is transmitted to the fee community.
  • The fee community verifies the knowledge and authorizes the transaction.
  • Funds are transferred electronically from the payer’s financial institution to the payee’s.

Several types of digital funds embody ACH transfers, cell wallets, contactless funds, person-to-person funds, cash switch apps, and wire transfers. These switch strategies do not require you to withdraw money out of your checking account or write a examine.

Finest Methods to Ship Cash as a Teen

Teen have many choices for sending and receiving digital funds. Some could also be extra helpful than others relying in your age and whether or not you’ve gotten your individual checking account. Evaluating varied methods to ship cash on-line may help you learn the way you would possibly need to ship cash as a teen.

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Money App

Money App is a cell fee app that permits customers within the U.S. and the U.Okay. to ship and obtain cash from their cell units. You’ll be able to pay others immediately or request cash utilizing your distinctive $Cashtag. Money App additionally presents a debit card that you may hyperlink to your account for in-person or on-line funds.

Anybody 13 or older can request a Money App card and teenagers 13 to 17 can get entry to Money App options with their father or mother or guardian’s approval. That profit is offered solely within the U.S.


Teenagers do not want a checking account so as to add cash to their Money App steadiness or to ship cash.


Venmo is a digital pockets that makes it straightforward to ship cash or request funds.

Teenagers can use Venmo in the event that they:

  • Dwell within the U.S.
  • Have a U.S. cellular phone that may ship and obtain textual content messages
  • Are a minimum of 18 or the age of majority of their state

Venmo is among the finest methods to ship cash as a teen for those who’re hoping to keep away from excessive cash switch charges. There are not any account opening or setup charges, no month-to-month charges, no charges for on-line purchases and no switch charges if you ship cash utilizing a debit card, checking account, or your Venmo steadiness.

Venmo is taken into account a protected technique to switch cash to make a purchase order as a result of purchases are lined by Buy Safety.

Google Pay

Google Pay is Google’s cell fee service. You should utilize it to make purchases or ship cash out of your cell system or laptop. Teenagers aged 13 or older can use Google Pay to ship and obtain cash or make purchases in shops, on-line, or in-app.

To ship cash by means of Google Pay, you want:

  • An web connection
  • A U.S. cellphone quantity
  • An e-mail deal with

Teenagers will even want a checking account or debit card that they’ll hyperlink to the Google Pay app to ship cash if they do not have funds of their Google Pay steadiness.

Be aware

You’ll be able to solely use Google Pay to ship cash to family and friends within the U.S., India, and Singapore.


Zelle is a person-to-person fee app that you need to use to ship cash out of your checking account to a different individual’s checking account when you have their e-mail deal with, cellphone quantity, or account quantity.

You have to be a minimum of 18 to make use of Zelle, however there’s an exception for teenagers who’ve a checking account that features Zelle as a function. For instance, when you have a Capital One Cash Teen Checking Account, you need to use Zelle to ship and obtain cash for those who’re a minimum of 13. You’ll be able to ship as much as $500 per day by means of Zelle until your father or mother or guardian asks Capital One to scale back that restrict.

Walmart MoneyCard

Walmart MoneyCard is a checking account different that means that you can handle cash out of your cell system or at Walmart shops. You should utilize the Walmart MoneyCard to receives a commission by way of direct deposit, pay payments, make purchases, or ship and obtain cash.

You should be a minimum of 18 to get and use a Walmart MoneyCard. Nonetheless, for those who’re a minimum of 13, your mother and father can arrange a Household Account and add you to be able to have a Walmart MoneyCard of your individual.

Wire Switch

A wire switch is an digital cash switch that’s despatched throughout a wire switch community, equivalent to SWIFT. Methods to ship wire transfers embody:

  • Wire switch companies, like Western Union or MoneyGram
  • On-line wire switch companies
  • Wire switch at a financial institution

A wire switch could be the easiest way to ship cash internationally or domestically. The most suitable choice for it’s possible you’ll rely on how previous you might be. You should be a minimum of 18 to ship a wire switch by means of Western Union or MoneyGram. On-line switch companies sometimes have the identical age cutoff.

You could possibly ship a wire switch by means of your financial institution for those who’re underneath 18 however have a teen checking account. Whether or not you possibly can ship home and worldwide transfers will rely on the financial institution. Wells Fargo, as an illustration, presents a teen and scholar checking account for these 13 and up that means that you can ship home wire transfers.

How one can Ship Cash Securely

Earlier than sending cash to another person as a teen, there are a number of necessary security guidelines to know. These guidelines may help you to guard your self from scams and be sure that your cash switch goes as easily as doable.

  • Keep away from sending cash to folks you do not know if you cannot confirm their id.
  • Be cautious of people that appear persistent or aggressive in asking you to ship the cash by means of Money App, wire switch, or different cash fee apps.
  • Double-check the fee particulars earlier than sending to make sure that you are transferring the correct quantity.
  • Use a novel ID and password to log-in to monetary fee apps or your checking account, and do not share your password.
  • Think about establishing two-factor authentication for any fee apps you employ or your checking account, which may assist preserve it protected from hackers.
  • Contact your financial institution immediately (or ask your mother and father to take action) for those who see any suspicious or probably fraudulent exercise.

Pay attention to any charges related to transferring or receiving cash. For instance, Zelle is free to make use of for those who’re sending cash out of your checking account, however you would possibly pay $15, $20, or extra to finish a wire switch by means of your financial institution. Evaluating charges may help you select essentially the most reasonably priced cash switch choice.

What’s the Quickest Option to Ship Cash?

Cash switch apps enable for quick cash switch, sometimes inside minutes. For instance, Zelle customers can full financial institution transfers in a matter of minutes. Wire transfers can be used to ship cash the identical day, although you may be ready a bit of longer for a global wire switch to course of.

How Can I Ship Cash With out Charges?

Cash switch apps like Zelle, Money App, and Venmo make it doable to ship cash with out massive charges. For example, you would possibly be capable of ship cash from a linked checking account, debit card or your steadiness within the app without spending a dime. Nonetheless, you would possibly pay a charge to ship cash by way of a bank card.

What Is the Least expensive Option to Switch Cash?

Typically, the most cost effective technique to switch cash is to ship it instantly out of your financial institution to the recipient’s financial institution, both by means of an ACH switch or Zelle switch. In any other case, you could possibly ship somebody cash cheaply utilizing a paper examine or just giving them money.

What Is the Most secure Option to Ship Cash and Not Get Scammed?

The most secure technique to ship cash and never get scammed is to make use of a safe cash switch app or service that provides buy safety. Search for a service that requires recipients to confirm their id earlier than transfers can course of. If you happen to’re frightened about being scammed, then the most secure technique to keep away from that situation is to not ship cash to anybody that you do not know.

Backside Line

Discovering methods to ship cash as a teen could be difficult as a result of some companies have age restrictions. To make use of PayPal, for instance, you should be a minimum of 18. Nonetheless, teenagers do nonetheless have some choices for transferring cash to pals, household, or others with out having to make use of money or a examine. When deciding methods to switch cash, it is necessary to grasp all of the related charges and dangers