Therefore, you will need to transfer some money. You might want to include a few $20 bills in your birthday card. Perhaps it could mean paying more for off-the-books services that aren’t sketchy at all. Either way, it can be a pain to send a bill without worrying that it might mysteriously slip out of the envelope and into someone’s pocket.
“Sending cash physically, such as through the mail, is probably one of the least efficient options for moving money,” says financial advisor Kevin L. Matthews, who previously provided financial advice to WIRED. says. “It’s not necessarily something I would recommend.”
The problem, he says, is that if something goes wrong and you’re out of cash, there’s nothing you can really do about it. There are better ways to transfer money, but if you absolutely must transfer your coins from one piggy bank to another, here are the best ways to do so without getting ripped off.
don’t be fooled
Let me first say that you shouldn’t just put a wad of money in the mail and hope it works. There is a high chance that it will be lost, stolen, or fall into the wrong hands.
And last but not least, if you are sending money to someone in any way, ask yourself these basic questions: Do you even personally know the individual sending the money? Have you vetted the agency that claims to get the fabric to the right place? Is there any fine print? Does a money transfer method sound too good to be true? If any of these questions give you pause, it’s probably a scam.
Matthews said scams are rapidly evolving and are constantly becoming harder to detect. “The number one rule is to never send money to someone you don’t know. And don’t be afraid to call and check. It’s always an option. Pay attention to the details, verify the information, and make sure it makes sense. Because once that money goes out, it usually never comes back.”
There are many ways to prevent yourself or your loved ones from getting ripped off and protect yourself from AI scam calls. (Grandma, I promise. charter bot Sending a message asking someone to send you a gift card is not a legitimate way to pay your cable bill. )
paper trail
There are ways to send cash safely. If you’re just sending a small amount, such as five for a birthday card, using the regular postal system is probably fine. As with anything sent by mail, there is a risk of it being lost. But if you’re worried about your money going where it needs to go, you should insure it or send a money order.
In the United States, you can ship cash up to $500 without registering with the United States Postal Service. Sending more than that through US Mail isn’t technically illegal, but it’s also not a good idea. If you really need to send cash and don’t care if Uncle Sam finds out, insure your luggage Value up to $50,000. However, there are some caveats.