Transferring money is faster than ever and very secure in many cases, but consumers should still exercise caution.
Very safe transfers:
* Between accounts in the same bank, using the bank's app or website
* Bank to bank, using your bank app or website. Before you initiate the transfer (to pay a bill, for example), make sure that you have the correct routing and account numbers before.
Safe, but beware:
* Paypal works easily and is generally safe, but make sure you have the correct email address for your recipient. If you send it to someone else by mistake, you are out of the money.
* Venmo and Zelle are fast, free, and usually secure, but fraud is common with these platforms.
It's important to use these services only if you know the person to whom you are sending money. Don't send money unless you are certain the person is who you think they are (Grandma! Can you bail me out of jail?) Once you send it, it's gone, according to Money.com.
