How to send cash | Narrative

So you need to send some money. Maybe you want to put some $20 bills in a birthday card. Maybe it’s a larger fee for some frivolous, off-the-books service rendered. Either way, it can be a pain to send paper money without worrying about it mysteriously slipping out of your envelope into someone else’s pocket.

“Physically sending cash through the mail or something else is probably one of the least efficient ways to transfer money,” says financial advisor Kevin L. Matthews. CABLE first. “It’s definitely not something I would recommend.”

The problem, he says, is that if something goes wrong and the cash is lost, there’s really nothing you can do about it. There are better ways to transfer funds, but if you have to get your money from one piggy bank to another, here are the best ways to do it without going broke.

Don’t be fooled

Just to be clear in advance, you shouldn’t put a wad of money 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 want.

And finally, if you’re sending someone any kind of payment, ask yourself these basic questions: Do you personally know the person you’re sending money to? Have you checked out the agency that claims to deliver your dough? Is there a fine print? Does sending money seem too good to be true? If any of these questions give you pause, it’s probably a scam.

Matthews says fraud is evolving rapidly and becoming increasingly difficult to detect. “Rule number one is never send money to anyone you don’t know. And don’t be afraid to call and check. It’s always an option. Pay attention to detail, check the information and make sure it makes sense. Because usually that money doesn’t come back after leaving the door.”

There are many ways to protect yourself and your loved ones tear off and protect yourself From AI scam calls. (Grandma, I promise you, Charter.bot Texting to ask you to send gift cards is not a legal way to pay your cable bill.)

Paper trail

There are ways to send cash safely. If you’re sending a small amount, like a high five on a birthday card, it’s best to use the regular postal system. As with anything you send email, you run the risk of it being lost. But if you’re concerned about the money getting to where it’s supposed to go, you’ll need to 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. It’s not technically illegal to send more than that via US Mail, but it’s not a good idea either. If you need to send cash and don’t worry about Uncle Sam knowing about it, you can insure your package For up to $50,000. There are a few caveats though.