How to Send Money Online Instantly for Free

Sending money online can be free and simple.

There are two main ways to send money for free online. The first is through PayPal, which allows you to send funds from a bank account or PayPal balance without a fee. This method, though simple and efficient, requires that the recipient also have a PayPal account. The second way is through your bank's online Bill Pay service. Large banks like Chase and Bank of America typically provide comprehensive online account management. Electric checks are available through some banks, like ING, which has a free electric check service as part of its Electric Orange checking account.

Sending Money via PayPal

Step 1

Visit and set up an account. Signing up for a personal account is free, but make sure you familiarize yourself with details about fees, which can be found by clicking "Fees" at the bottom of the main page. While there is no fee for sending funds from your bank account or PayPal balance, there are considerable fees for transferring money via debit or credit card. Fees are also charged for taking advantage of merchant services or transferring money internationally.

Step 2

Deposit funds from your bank account into your PayPal account. First, under the "My Account" tab, scroll over "Profile" and choose "Add or Edit Bank Account." In order to add a bank, you will need the bank's name, location and routing number as well as your account number. Once the account has been verified, you can increase your PayPal balance by scrolling over "Add Funds," clicking "Add Funds from Bank Account," entering the amount and confirming the transfer.

Step 3

Send money to an individual or organization by clicking the "Send Money" tab and entering the recipient's email address, the amount you wish to send and the purpose of the transaction. Since people often have multiple email addresses, confirm in advance that the one you are using is associated with the recipient's PayPal account.

Sending Money via Online Banking

Step 1

Contact your bank and sign up for free online banking, if it is available.

Step 2

Log into the Bill Pay section of your online account services, and add the intended recipient as a new payee. You will need to enter the contact details—including name, address and phone number—of the organization or individual you wish to pay.

Step 3

Schedule a payment. Once you have chosen a payee, enter the amount you wish to pay and the date on which it should be received. It is also possible to set up an automatic, standing payment. Make sure to confirm the request you have made.

Things You'll Need

  • Bank or PayPal account

  • Recipient's contact information