Looking to send money from person to person without spending a fortune? There are more options coming into the marketplace.

Walmart is getting into the cash wire business with a new service called Walmart 2 Walmart. While the typical wire cost could be $50 to $75 from Western Union, this new program allows you to go into any Walmart store to the Money Center and send a wire of up to $900 for just $9.50.

PayPal is another option. You can send money from your PayPal to another PayPal person by linking up bank accounts. This is significant because it allows you to send money overseas for nada.

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These free apps will help you transfer money

Then there are also apps for smartphones that will let you send funds for free to another person. There's one called Venmo, which is an app for Android and iPhone, and Square Cash offers yet another way to transfer money for free. Other options include Google Wallet and Facebook Messenger.

So let's say you're at dinner and you've got to split the bill. One person pays with a credit card or cash, but what do you do as the other party if you don't have enough cash on hand to give them for your part of the bill?

That's where something like Venmo or Square Cash comes in handy. You can send money with a simple email to anyone you want for free. With Square Cash, for example, you just put in an email address, how much you want to send them, and then you CC a special Square Cash email address. Just like that you're done; it's seamless, easy, free.

The one question is security on systems like Square Cash. But if you set a $250 maximum daytime cap, you can rest pretty easy.

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Walmart offers much more than cheap money transfer

Speaking of money, more retailers are rolling out alternatives for those who can't get or don't want a traditional bank account.

Tens of millions of people are blacklisted with the Chex Systems, and they're typically banned for up to half a decade from getting a bank account. They're known as the "unbanked." Then you have many other people have been fee'd to death by the banks and want to be done with them.

So what choices are you left with?

Well, Walmart and American Express recently came up with a service called Bluebird, which is like the financial account of the future. The design is brilliant and the lack of fees great. You can pay bills, have access to ATMs, write checks and everything else -- all with no monthly fees and no inactivity fees. The Bluebird account is even good for overseas use because it has no foreign currency exchange fee.



Image of Clark Howard About the author: Clark Howard

Clark Howard is a consumer expert whose goal is to help you keep more of the money you make. His national radio show and website show you ways to put more money in your pocket, with advice you can trust. View More Articles

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