Send Money Online to Friends Using Advances in Cell Phone Technology
It seems nearly everyone has a mobile phone, no matter where they live. If you have friends in another state or even country, it is now possible for you to send money through your phone. The most well-known way to do this is through your bank, as long as it has online checking and you can obtain the Internet on your phone. Most banks allow you to send a money transfer through the Internet using your cell phone. In fact, most banks now optimize their online services for cell phones, allowing the user interface to fit on yours perfectly.
One of the newest ways to send money online was developed by Japan’s NTT DOCOMO mobile Internet service, which allows users to send money from their phone to a friend’s phone. Rather than entering the friend’s account number, the user can just enter their cell phone number to ensure the money gets deposited into the correct account, as the phone number is attached to a bank account. Users of this service can deposit up to 20,000 yen, or $208, per transfer, and 200,000 yen per month. Recipients can choose to add the received funds to their bank account or apply it to their phone bill. There is a charge of 105 yen for the user who sends the money, and 65 yen for the recipient, unless they use it to pay their phone bill or deposit it into a Mizuho Bank account. In such cases, the transaction is free for the recipient. While it is only available in Japan right now, such a service could become available anywhere if it is successful.
Another way to send money online anywhere is to use a prepaid debit card. This type of service allows you to obtain a debit card from a company online, have it sent to a friend in another state or country, and add funds to it anytime online. Not only does this use debit card technology, but it is also easy to add money through your phone’s Internet. You can even call a number to add money if you do not have Internet on your cell. You will pay a small fee each time you add money, so it is usually best to add a lot of money at once rather than several small amounts.
As long as you have access to a phone or Internet, or perhaps both in one device, all of the described options are convenient. Such technological advances offer an easier way to send money to friends in need, with immediate results. Simply select the method that works best for you and your friends.
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