Google Wallet does a lot of things, including allowing you to make mobile payments at some of your favorite stores and keep all your loyalty cards, but one of its great values is its money transfer service from person to person. It’s one of the lesser-known features of Google Wallet, but it actually works very well for transferring money – from small to very large quantities – to a friend or family member with nothing more than the application of Google Wallet and an address email.

Whether you’re asking a friend to send you some money to pay for a restaurant bill, or if you need to send a few hundred dollars to your brother to buy tickets to concerts, Google Wallet has your needs covered. Read along and see how fast and easy it can be to manage money transfers in the Google Wallet app.

Send and receive money

It has never been easier to send and receive money in the Google Wallet app, with the latest versions offered by the “Send money” button and the “Money request” button on the right at the top of the main screen. You just have to press the corresponding button, and the process will begin. In any case, you will be taken to a screen where you can type the name of the person who is going to send or request the money – the list will be filled automatically with the matching contacts, or you can enter an email address of someone who is not in your contacts.

Select the right person, and you will be taken to the next stage. To send money, just fill in the amount you want to send, add an optional message with it and choose which of the payment methods you would like to use. By default your Balance will be used in the Wallet, but if you are choosing to send an amount greater than the balance of your wallet, you can change it, check again that the information is correct and press the send button in the upper right corner of the interface and the money will be sent! To apply for the money, the process is even simpler. Enter the amount you wish to request, and an optional message (probably a good idea when asking for money) and press the send button. The person will receive an email with instructions to send money through Google Wallet to their own account.

The choice of your payment method

When you choose to send money, you will be presented with several different account options to send that money – by default, you will be marked to send your Wallet Balance. If there are not enough funds in your portfolio balance or you prefer to use a different payment method, by checking in the payment box together with the amount to be sent, a list of all available payment methods will be displayed.

You can add bank accounts, debit cards and credit cards to your Google Wallet account, and each action method will be displayed here. You will get a clear description of which card or account you are choosing, and a small note of the rate structure of that payment method will also be displayed.

Google lists all the fees and limits on your website, but the basics are that the transfers from your Wallet Balance, checking account or debit card have no fee, while credit cards have a rate of 2.9% ( with a minimum charge of $ 0.30). In terms of transaction limits, Google Wallet has a surprisingly high limit of $ 10,000 per transaction and $ 50,000 weekly limit, which we doubt many of us will use in our lives to use this limit. Transfers of money using, debit card or credit card are processed instantly, but it can take up to three days for them to show up in bank accounts. If you choose to send money to your bank account, the transaction could take from three to 10 days in total depending on the entity. When you receive money from someone there are never associated fees. and you will not have to pay a fee to deposit money in your linked bank account from your Google Wallet Balance.