Tag Archives: PayPal transfers

Send, Share and Borrow Money in Germany with Lendstar

By Mohammed Waseem

As inflation is going high rapidly in most parts of the world, new financial products are in need to help us save money and share the expenses. Many such products are being introduced in different countries. Germany has this product called Lendstar EasyPay, which allows users to send money to each other and share the expenses or lend money.

Lendstar EasyPay is a service which enables convenient, quick and safe transfer of money to friends and family members. A current account has to be connected to a Lendstar account to use this service. Money transfer is done using the app. They are positioning themselves as the easy way to make a bank transfer, which is more convenient, safer and faster. In other words, they compare themselves with banks when it comes to money transfer.

LendstarTo send money, users have to download the app from Google Play or iTunes and install it on their devices, select ‘Wire Transfer’ as the payment method (without Lendstar EasyPay support) or register for Lendstar EasyPay by completing the registration for it. Once registered, users can begin using the app by connecting their current account to their Lendstar account. Most banks are supported for connecting the current accounts with the app; however, around 25 banks in Germany are not supported, including Commerzbank, Credit Europe Bank, RaboDirect, Barclaycard and HSBC Trinkaus & Burkhardt.

At present, only a current account with a German bank can be connected to Lendstar, which means that people from a few other supported countries can use PayPal to send money. However, even the bank in Germany should be capable of handling SEPA transfers. Users can choose to use Lendstar EasyPay or wire transfer without Lendstar EasyPay, at once; both options don’t work together.

Right now, the service is free of cost, but a charge maybe applicable once the product becomes established. However, if users use PayPal, they will charge a transaction fee which is generally 2%+ €0.30 There are four things the users can do; they can borrow money from friends, collect for pooled-expenses, prepay money to be collected later or split a bill.

Lendstar also offers an e-wallet and a credit card that can be used worldwide for shopping or withdrawing from ATMs. However, they have not been launched yet, but maybe available in a few weeks as per their website.

Users can register using their email or their Facebook account. The app can be downloaded from Google Play or iTunes.

Send Money With The USAA Mobile App

By Mohammed Waseem

Money transfer apps have increased in number, which has made our lives easier. Anywhere we are, we can semd money to anyone, right from our smartphones. USAA, an organization that offers financial products and services to the military community and their families. Founded in 1922, the organization has grown to serve millions of people with competitive financial products and services.

Most of the services are available to the members of the US military and their families but some financial planning and investment products are available to the public. Among these products is the online money transfer service which one can access on Android or iOS smartphones through the USAA Mobile app.

USAA MobileThe app can be used for most of the services offered by USAA including money transfer, bill payment, deposit checks, manage investments, etc. For sending money, one does not need to be a member of USAA. One needs a savings account or a checking account with the organization, which is at least 30 days old, in order to be able to transfer money from their mobile app. Money can be sent to anyone who has an email or a mobile number. Up to $1000 can be sent in one day, with a limit of three transactions daily. Through email, money can be sent to recipients in over 66 countries listed here, where PayPal is accepted. Throuhg a mobile number, it can only be sent to residents in the US.

Recipients who are USAA members receive the money instantly into their account with the organization. Non-members receive the money into their PayPal accounts. If they don’t have a PayPal account, they receive instructions from PayPal on their email or phone to create a new account and claim their funds.

The app can be downloaded from the respective app stores for Android and iOS and money can be sent immediately if one already has an account with USAA.