You’re in another country. You go to take money out of the ATM but oh no! – insufficient funds. What now? How can you transfer money to yourself when you’re not even in Canada? Well, here’s the good news. You can transfer money to yourself even if you’re not in Canada, and it’s easy and simple to do.
Ways to Send Yourself Money in Canada
- Write yourself a cheque
On the off chance that you have carried a cheque with you while traveling, you can always write yourself a cheque to deposit into your account. This works if you have more than one account, and allows you to transfer from one account to another.
If you have access to online banking, you can easily deposit a cheque through your mobile banking app or with your online banking account. Some countries do not have good access to Wi-Fi, which can make it difficult to cash a cheque online. In such a case you may have to go directly to a financial institution, which could be a huge imposition.
- E-transfer
If you know someone back at home who can send you money, you can do a simple e-transfer. E-transfers are a safe and secure way to send money from one bank account to another. You can also use an e-transfer if you have more than one account, transferring your money from one account to another.
Most financial institutions will allow you to accept an e-transfer through email or through text message. Just accept the transfer and the money will be instantly placed in your bank account and ready to withdraw.
- Paypal
Paypal.com is one of the oldest and most secure forms of transferring money online. Founded in 1998, Paypal allows you to safely and securely transfer money from your Paypal account to your bank account with the click of a button.
Unfortunately, only Paypal users with a valid social security number in the United States have access to the Instant Transfer feature. For us Canadians, transfers can take a couple of days.
In return, Paypal can be a great way to transfer money to yourself but isn’t the best option if you need it immediately.
- WorldRemit
WorldRemit, like Paypal, is a safe and secure app that allows for transfers to your bank account. While 50% of transfers are conducted almost immediately, you may also have to wait a few days to receive money transfers from WorldRemit. Most transfers are conducted within a single business day.
In conclusion, if you have a cheque on you, you can always put money into your account using that cheque. If you don’t have access to a cheque and you are in a rush, e-transfer is your best method for transferring money into your account. If you’re not in a rush, you can use apps like PayPal or WorldRemit to transfer money to your bank account.
Always remember that online banking is only as safe as the app you’re using. E-transfers and apps like PayPal and WorldRemit are safe to use as long as you are certain that you are using the authentic app.
Always do your diligence before downloading an app to ensure your safety and the safety of your banking information.
