Can you transfer money without opening a bank account?

Are you wondering how you can send or receive money digitally, but do not have a bank account to do so? Well luckily, you do not always need a bank account to send and receive funds! Here are some convenient ways you can transfer money without a bank account.


Transferring Cash without a Bank Account

According to a survey from 2019, about 5% of US households do not have bank accounts. Additionally, some teenagers may not want to make a bank account yet, but some want to transfer money. Luckily, that is where most secure online payment methods and other alternatives, like, come in.

Money Order

A money order is a fairly easy way for people to send and receive money. You can buy a money order at major retailers, gas stations, grocery stores, and post offices, and they are usually only a few dollars. You will need to fill up the money order and show your ID at the counter to send a money order, and there is sometimes another fee that you have to pay at the counter. You can either give someone the money order directly or mail it to them, and the sending limit is usually about $700-1,000.

Make sure that the recipient has an ID ready to show when they want to receive the funds from the money order, along with the money order itself. That way, the counter will allow them to receive the money.


You can sign up for a PayPal account with a phone number and email address. You will need a bank account to fund your PayPal wallet and to withdraw the cash for most people. However, you can still receive and send funds using the PayPal account to another account. If you receive money through your PayPal account and do not have a bank account to cash out the funds, you can use PayPal to shop at many online stores, pay bills, etc.


You can use Venmo to receive money without a bank account. You will need to have a bank account if you want to fund your wallet or ask another person to send funds to you to send money. However, if you already have funds in your Venmo account, you can use it to send money to another account. There are little to no fees for most cases, so Venmo is a great and cheap option if you want to transfer small amounts of cash.

Western Union

Western Union is excellent, especially since it has over half a million locations around the world. Western Union is great because it has tons of ways you can send and receive money without a bank account, and the fees will differ based on what option you choose, how much you want to send, and where you will send the money. Another bonus is that you can set up your transfer using their online feature, pay for the transfer in a Western Union location in cash, then the recipient can go to another Western Union Location to pick up the money.

You do not always need a bank account to send money. You can use any of the options above to conveniently send funds.