What Are the Different Ways to Send Money Using Beem?

The way money moves around has changed a lot. Fintech businesses have changed the way people transmit money. Different ways to send money are now available, offering more flexibility and convenience.

It used to be slow bank wires, hidden fees, and complicated steps. Beem and other current services make it easy, cheap, and entirely up to you how and when the money gets there. But how can you determine which way to send money is ideal for you when there are so many?

Beem has an answer for practically every problem. Beem is fast, safe, and easy to use for everything. It can range from bank transfers to gift cards, peer-to-peer payments, and emergency transactions. Plus, it eliminates the annoying hidden costs and long wait times that come with traditional procedures.

This post will show you five ways to send money with Beem, along with the pros and cons of each option. In conclusion, you’ll know how to send money in the best way for you, saving you time and money.

Method 1 – Send Money via Bank Transfers

One of the most common and reliable ways to send money is through bank transfers. Beem makes this process easier than ever. Here’s how it works:

How Beem Connects to Your U.S. Bank Account

With Beem, sending money via bank transfer is simple. After linking your U.S. bank account to the app, you can transfer to any recipient anywhere in just a few steps. Beem seamlessly connects with your bank, making the entire process quick and secure.

ACH vs. Instant Transfers: Speed, Cost, and Limits

Beem offers two types of bank transfers:

• ACH Transfers: These are generally used for non-urgent transfers. They tend to have low fees, but the funds can take 1-3 business days to arrive in the recipient’s account.
• Instant Transfers: For those who need to send money immediately, Beem offers instant bank transfers, which can be processed within minutes. These transfers come with a slightly higher fee but are ideal for urgent payments.

When to Use: Rent Payments, Shared Bills, Recurring Expenses

Bank transfers are excellent for large payments that don’t require immediate action. You can use Beem’s bank transfer feature for things like:

• Rent payments
• Shared bills (utilities, subscriptions)
• Recurring expenses (e.g., child support, alimony)

These payments benefit from being scheduled in advance, allowing for smooth and predictable transactions.

Also Read: How To Send Money From USA Using An International Bank Transfer

Method 2 – Send Money with Digital Gift Cards

Gift cards are a unique, fast, and versatile way to send money, especially when sending funds across borders. Beem lets you send digital gift cards from major retailers instantly.

How Beem Lets You Send Gift Cards to Family and Friends

With Beem, you can send digital gift cards directly to friends, family, or coworkers. Beem partners with leading brands to provide instant electronic gift cards that recipients can use at stores, online platforms, and even for online shopping.

Top Brands Available and How They’re Instantly Delivered

Beem offers a variety of top brands for gift cards, including:

• Amazon
• Walmart
• Target
• Apple
• Best Buy

Once you select the gift card, Beem instantly delivers its value to your recipient, who can use it conveniently. There is no waiting, no hassle.

Best Use Cases: Sending Money Abroad, Gifts, or Quick Support

Sending gift cards can be ideal for various situations:

• Sending money abroad: If family members live in countries where traditional banking is not ideal, sending a gift card can be a quick and reliable option.
• Gifts: Instead of buying a physical gift, you can easily send an instant gift card for a birthday, holiday, or other special occasion.
• Quick support: If someone needs financial help quickly, sending a gift card might be the best option.

Gift cards are low-fee and secure, making them an excellent choice for sending money fast.

Method 3 – Transfer Money Between Beem Users

Sometimes, the simplest way to send money is directly from one person to another. If both parties use Beem, transferring money between users is quick, free, and secure.

Peer-to-Peer Transfers Within the Beem App

Beem allows peer-to-peer (P2P) transfers within the app, meaning you can send money instantly to another user’s account. These internal transfers have no transaction fees or hidden costs; the funds are typically available immediately to the recipient.

Instant, Free, and Private

The sender and recipient can enjoy a private transaction with peer-to-peer transfers, as no external parties are involved. You can transfer money instantly, whether paying a roommate for shared rent, reimbursing a friend, or sharing expenses.

Ideal for Roommates, Couples, or Shared Subscriptions

The peer-to-peer feature is perfect for:

• Roommates who need to divide bills or rent
• Couples who want to send money to each other
• Groups sharing subscriptions or recurring costs

This method ensures that money flows easily between trusted parties, making it simple to handle everyday expenses.

Also Read: Start Sending Money Globally: A Step-by-Step Guide for US Residents

Method 4 – Set Up Scheduled Transfers

For recurring payments or regular expenses, Beem offers a feature that lets you automate your money transfers. This option is perfect for anyone who has ongoing financial commitments.

How to Automate Recurring Payments

Beem makes it easy to set up scheduled transfers by allowing you to automate regular payments. Choose the amount, recipient, and payment schedule (daily, weekly, monthly), and Beem will ensure that the transfer is sent on time, every time.

Use Cases: Rent, Allowances, Shared Budgets

Scheduled transfers are ideal for:

• Paying rent: Set up a recurring payment to your landlord every month.
• Allowances: Send a regular allowance to children or dependents.
• Shared budgets: Contribute to a shared family or group budget automatically.

Setting up scheduled transfers eliminates the need to worry about missing payments and helps ensure that bills are paid on time.

Benefits of Staying Consistent with Shared Finances

By automating transfers, Beem helps users stay on top of shared finances. Consistent, automated payments also improve budgeting and financial planning, allowing for greater control over recurring financial commitments.

Method 5 – Emergency Transfers Using Beem’s Everdraft™

Emergencies can arise at any moment, and sometimes, you need to send money immediately, but you might not have the funds available in your account. That’s where Beem’s Everdraft™ feature comes in.

Overview of Beem’s Instant Cash Feature

Everdraft™ allows you to send money even if you’re low on funds. This feature offers instant access to funds for urgent situations, helping you send money when needed.

How Everdraft™ Helps You Cover Urgent Transfers

If you need to cover an emergency—such as paying medical bills, helping a family member in need, or paying for urgent repairs—Beem’s Everdraft™ can provide the instant cash you need. The feature works like a temporary overdraft, allowing you to transfer funds before they hit your account.

Example: Medical Bills, Missed Paychecks, or Urgent Family Help

Imagine missing a paycheck or facing an unexpected medical expense. Everdraft™ can cover the gap, ensuring you don’t fall behind on essential payments.

How to Choose the Best Sending Method for Your Situation

With so many options, how do you choose the best method to send money with Beem? It depends on:

Decision Matrix: Urgency, Cost, Location, Recipient Type

• Urgency: If time is critical (e.g., emergencies or urgent bills), methods like instant bank transfers or Everdraft™ are ideal.
• Cost: If you want to keep fees low, Beem-to-Beem transfers or gift cards offer low or no fees.
• Location: Gift cards are an excellent option for international payments.
• Recipient Type: Whether you’re sending money to a family member, business partner, or freelancer, Beem’s various options can cater to different needs.

Tips for Minimizing Fees and Maximizing Speed

• Use peer-to-peer transfers for personal transactions to avoid fees.
• Choose instant transfers for emergencies, even at a slight premium.
• Schedule transfers in advance for recurring expenses to avoid late fees.

Is It Safe to Send Money with Beem?

Beem uses industry-leading security measures to protect users’ money. With encryption, FDIC-insured partner accounts, and strict KYC (Know Your Customer) protocols, Beem protects both senders and recipients. Beem offers higher transaction security and user privacy than other platforms like Venmo, Zelle, and Wise.

Beem vs. Traditional Money Transfer Apps

Unlike traditional apps that might have hidden fees or limited payout options, Beem offers:

• Transparent pricing with no surprise fees
• Multiple payout formats (bank transfer, gift card, etc.)
• Better control over how your money is used and received.

Conclusion – Beem Makes Money Transfers Smarter and Simpler

Beem offers flexibility, security, and transparency for all your money transfer needs. Whether you need to send money instantly or automate regular payments, Beem has a solution for every situation. With multiple options, Beem is the more innovative and simpler way to send money. Try Beem today and see how easy and cost-effective sending money can be!

FAQs About Different Ways to Send Money Using Beem