How to Send Cash | WIRED

So you need to send some money. Maybe you want to slip a few $20 bills into a birthday card. Maybe it’s a big payment for some obscure, off-the-books service. Either way, it can be hard to send paper money without worrying that it might mysteriously slip from your envelope into someone else’s pocket.

“Physically sending cash through the mail or something else is probably one of the least efficient options for transferring money,” says Kevin L. Mathews, a financial advisor who gives money advice before that. “It’s not necessarily something I would recommend.”

The problem, he says, is that if something goes wrong and the cash is lost, there’s nothing you can do about it. There are better ways to transfer money, but if you absolutely must get your coins from one piggy bank to another, here are the best ways to do it without getting ripped off.

Don’t cheat

To be clear in advance, you shouldn’t just stick cash in the mail and hope for the best. It’s very likely to get lost, stolen, or otherwise end up in the hands of someone you don’t intend.

And on that last point, if you’re sending someone some kind of payment, ask yourself these basic questions: Do you personally know the person you’re sending money to? Have you checked the agency to get your dough in the right place? Is there any fine print? Does the method of sending money seem too good to be true? If any of these questions give you pause, it’s probably a scam.

Scams are evolving quickly and they’re always getting harder to detect, Matthews said. “Rule number one is, never send money to someone you don’t know. And don’t be afraid to call and check. That is always an option. Pay attention to details, verify information and make sure it makes sense. Because usually once that money goes out the door, it never comes back.”

There are many ways to distance yourself and your loved ones Tearing off And protect yourself From AI Scam Call. (Grandma, I promise you, charter.bot Texting to ask you to send a gift card is not a valid way to pay your cable bill.)

Paper trail

There are ways to send cash safely. If you’re sending small amounts, like slapping a fiver on a birthday card, it’s probably best to use the regular mail system. You run the risk of losing it, as you mail. But if you care about getting the money where it needs to go, you should insure it or send a money order.

In the US, you are allowed to send up to $500 in cash without registering with the US Postal Service. Sending more than that via US mail isn’t technically illegal, but it’s also not a good idea. If you want to send cash and don’t mind Uncle Sam knowing about it, you can Your package insurance For values ​​up to $50,000. There are a few caveats though.