Sending money using Google Wallet

[Jerfer]

Google just added the ability to send money to people. Right now it's free. One of the ways you can send money is by adding money as an attachment to an email in Gmail. That's something new. It's only available to a limited number of people. This is what it says on the website:

 

 

This feature will be rolling out to Gmail users ages 18+ in the U.S. over the next few months. Look for the $ icon in your attachment options. You can also get earlier access if your friends have the feature and send money to you.

http://www.google.com/wallet/send-money/

 

This feature will make the two-step authentication process necessary to help keep hackers away from your money. I've been using two-step verification for a while and love it. Basically, if I log-in to any Google service using an unknown device, a six number code gets sent to my phone and then I enter that code to continue logging in.

Edited May 16, 2013 by Jerfer

[Clydesmom]

Google + is struggling BIG TIME and I don't see this being successful. The major banks already offer this. I bank with Chase and I can do this with an email and have never had an issue with my account and paying bills. Using Google to send money seems way to risky to me.

[Jerfer]

It ties in with Google Wallet really nicely. Anyone who buys apps on the Google Play Store has Google Wallet.

 

So if you were to send me money through email using Chase, how would I get the money?

[Seabee]

Google + is struggling BIG TIME and I don't see this being successful. The major banks already offer this. I bank with Chase and I can do this with an email and have never had an issue with my account and paying bills. Using Google to send money seems way to risky to me.

 

How do you figure G+ is struggling?

[Jerfer]

I finally found someone who has the send money feature and had them send me $1 so it'd be enabled on my Wallet. It's everything that I ever hoped for. Now Google just needs to bring us Google Auctions! eBay needs a competitor.

 

The way it works is if you don't have a Wallet balance, you can send money using a debit, credit card, or bank account. Right now it's free to use a credit or debit card but eventually they'll add a fee. You can send up to $9999 at once. Just think about the rewards you could rack up by sending money to yourself.

[MoneyDance]

Jerfer, somehow I believe that sending money to yourself would constitute some sort of cash advance if you're using a credit card, so I don't believe that would be such a great idea in regards to rewards.

[Jerfer]

You can't send money directly to yourself, but I was referring to sending it to a friend (or family member) who'll give the money back, so you can in turn pay back the credit card. It's not coded as a cash advance. It works the same way as Amazon Payments and Amazon doesn't charge a fee to send money using a credit card either.

 

They're both competing with PayPal so they'll likely keep it free for awhile longer.

Edited May 17, 2013 by Jerfer

[MoneyDance]

Cool