Digital alternatives to cash remittances

The world is moving into the technological age, and cash remittances will be no exception to that. Here is a look at some digital alternatives to cash remittances that you should know about.



PayPal is one of the most popular online payment methods that people use. Many businesses use PayPal to send and receive payments both locally and abroad. PayPal is fairly straightforward and simple to use, and it is a long-time platform that most people trust. Since most people are familiar with PayPal, it is likely that the person you want to make a transaction with already has an account.

However, there is one major con: the fees. PayPal takes a fairly big chunk from your money with each transaction. The usual charge for most payments is about 4.5%; while it is convenient and secure, the fees can be a pain. However, sending money to family usually costs nothing, but sending and receiving money for work, shopping, etc. will rack up some fees.


Venmo is a simple app that you can download on your computer or phone. It is an extremely convenient option as an online payment method. Plus, it offers next-day transfers and very reasonable fees. It is convenient if you want to send small amounts of cash to friends and family, especially if you want to split bills for dinner, rent, utilities, and such.

However, Venmo does have a limit on how many payments you can make, which is considerably low for some people; $299.99 a week. While you can raise it to $2,999 a week, the original limit can be bothersome for people who want to pay bills. 

Apple Pay

Tons of stores accept Apple Pay as a payment method, making it very convenient for Apple users to pay for things with their phones. Most people can use Apple Pay to send money to other people, and they can send the money in their account back into their Visa credit card or bank account. Plus, you can cancel payments if you send cash to a person but they do not accept it.


If you want to send cash internationally, then TransferWise is one of your best bets. TransferWise lets you send and receive funds from 59 countries, and they regularly add new currencies to broaden their scope. The fees for the transfer will depend on what currencies you are converting, but the fees are still significantly smaller compared to traditional financial institutions.

A huge bonus that you get from TransferWise is that they show you how much the fees are right away. You do not have to worry about hidden fees or “miscellaneous” costs; you will see the currency rate and total fees. Plus, you will also get to see how much the recipient will get as well. Another benefit: you may lock in exchange rates for most currencies for 24 hours.

You do not always have to stick to traditional financial institutions for cash remittances. You can try out the digital alternatives mentioned above for quicker ways to send and receive funds.