A debit card refers to a payment card that links to a checking account. Some savings accounts also come with debit cards to help you access your funds. With a debit card, you can access your money at an ATM at any time of the day. Also, you can send money with a debit card at an ATM or online. I will show you how to send money online using a debit card later in this article.
It is good to understand that debit cards allow you to send money both domestically and internationally. In fact, money transfer using debit cards is one of the best electronic money transfer methods you can find in the whole world. However, money transfers using a debit card might be expensive compared to other transfer methods such as ACH and direct deposit.
Apart from using your debit card to transfer money directly at an ATM or online, you can use it to fund transfers through other platforms such as PayPal, Payoneer, Remitly, Western Union, MoneyGram, and Wise, among others. Such platforms usually give you an option to use your bank, debit, or credit card to fund your transfers. That means you have to add your card or bank details to the concerned platforms to use money in your account.
How to send money online using a debit card
As I have mentioned above, there are various ways you can transfer money using a debit card. The following are ways you can use your card to move money to someone else.
1) Transfer money from your debit card account online
Most debit cards have online accounts that you can use to transfer money. When you receive a debit card from your card issuer, you must activate it and create an online account. In such a case, you should secure your account with a PIN or password.
When sending money to someone’s debit card or bank account, you only need to log in to your account and navigate to the money transfer section. You then enter the necessary details, such as the account number and the amount to send. Now you understand how to transfer money from one debit card to another as you just need to follow the above simple instructions.
When transferring money to someone of a different financial institution other than yours, you must enter the routing and account numbers to perform a direct deposit. In most cases, direct deposit takes more than a day to complete. Generally, you need to follow the steps below when transferring money online using your debit card account.
- Log into your account online.
- Navigate to the money transfer section.
- Enter the recipient’s details.
- Enter the amount of money to send.
- Hit send.
- Review the transfer information.
- Authorize the transaction using your Touch ID, Face ID, or PIN.
If you send money to a particular merchant online, you will not need to log into your online card account. All you need is your card number, the CVV, and the expiry date of the card. Once you press pay with your card, a page will open where you will need to enter the above details as accurately as possible. You will then get a confirmation message about the transaction.
2) WorldRemit
WorldRemit is one of the most known international money transfer platforms. You need to open an account that you can access online or via an app. The service allows you to transfer money with your debit card with just a few taps. When transferring money internationally, you must put into account the exchange rate.
Interestingly, if the recipient does not have a bank account or debit card, they can access their funds at specific pick-up points. That is when you transfer up to $10,000 per day.
3) XE Money Transfer
You can use XE Money Transfer in over 170 countries of the world. The service supports over 60 currencies meaning that the platform is diverse. XE Money Transfer has a user-friendly app that is easy to use. When transferring money internationally, the service allows you to use a debit card or a bank account to source money for your transaction.
4) Wise, formerly TransferWise
You can send money using Wise to about 144 destinations in the world. Sending money with Wise is much cheaper than when you send money directly using your bank account. Signing up for a Wise account is easy since you can use your Facebook or Google account to get started.
You can use your debit card to fund your transaction and get a $2,000 daily limit. The service charges you a flat $0.5 – 2.0 fee depending on the currency and amount of money you are sending. You also have to part with a 2% currency exchange fee.
5) Remitly
Remitly operates in Asia, Africa, and South America. The app allows you to send money in two ways. You can use the “Express” transfer or “Economy” transfer.
The express transfer is faster but costs much more compared to the Economy transfer. You can use the service to transfer money from one card to another online or from your card to a bank account internationally.
6) PayPal
PayPal is one of the oldest online money transfer services that allow you to move money from one person to another. You can easily fund your transactions using your debit card when sending money to another PayPal recipient within the country or internationally.
To source money from your debit card, you have to add it to your PayPal account. When using a PayPal app with android devices, you can add your debit card in the following manner.
- Open your PayPal app.
- Log in to your account.
- Tap the Settings near the top of the screen.
- Hit on Banks and Cards.
- Tap on +.
- Select Debit or credit card.
- Scan your card or enter the information.
- You can also choose to add the card information manually.
- Tap Link Card as soon as you have added the information.
You can also use PayPal with an iPhone. Therefore, you need to add your debit card in the following manner.
- Open the PayPal app to log into your account.
- Hit on the Settings icon near the top of your screen.
- Select Banks and Cards.
- Tap on +.
- Select Debit or credit card.
- Scan your card or enter the information.
- You can also choose to add the card information manually.
- Tap Link Card as soon as you have added the information.
7) Western Union
Western Union is one of the most elaborate online money transfer services that allow you to transfer money domestically and internationally. You require to add either bank or card information to get started. Even though you can present cash to an agent at a physical store, using an online service is more convenient.
To add a debit card to your western Union profile, log in to your profile, navigate to the Payment preferences section, and select Add new credit or debit card.
8) Payoneer
Payoneer allows you to use your bank, debit, or credit card to fund your transaction. You can transfer money to people anywhere in the world. Just like you can send money with a checking account number instantly, Payoneer allows you to transfer money from your account to another Payoneer user instantly. That happens for both domestic and international transfers.
9) MoneyGram
MoneyGram allows you to transfer money to other recipients using your debit card. Just like Western Union, you can choose to pay with your debit card when transferring money to someone else. MoneyGram also allows you to pay using your bank account or credit card. To transfer money using MoneyGram and debit card, follow the process below.
- Log in to your online account.
- Enter your information for identity verification.
- Select a recipient or send money to someone new
- Tell MoneyGram who you are sending to and how they want them to receive the money.
- Indicate how much you want to transfer.
- Choose how to pay and send
- Pay with your debit card.
How to receive funds using a debit card
Apart from sending money to others using your debit card, you can also receive money online from others. You can receive money directly to your bank account that links to a debit card so that you can access it via your debit card. You only need to give the sender your details such as;
- Your full name
- Your account number, and
- Your sort code
The sender will only need to enter your card details, and funds will instantly reach your debit card. Alternatively, someone can use Western Union to send money to your bank account, whereby you can access them using your debit card. Western Union allows you to receive money both in your bank account and at a physical store.
Another way you can receive money from your debit card is via MoneyGram. Apart from receiving money at a physical location, MoneyGram allows you to receive money with your debit card. That way, you can access your funds conveniently. I can withdraw money with my account number and routing number when I transfer to another account of a different institution or use it for various transactions.
Bottom line
A debit card refers to a payment card that allows you to access money from your checking account. You can utilize your debit card at an ATM or buy goods and services online and at a physical store.
With an online account for your debit card account, you can send money online to others. You can also use your debit card with other money transfer platforms to send money to others either domestically or internationally.
