best way to send money

[timeout]

hi,

a friend has offered to help my boyfriend out of a financial jam but he does not want it to show up in his bank account so doesn't want a check. He said a cashiers' check or even a deposit to papypal then have them(pp) send him a check. the other option is cash in the mail but off course that is not smart. I told him not of it is worth the risk, just be up front. all of this is because he needs to apply for something and to show his recent bank accounts.

since he is being persistent, is there a way? doesn't all of this get recorded somewhere and might catch up?

thanks,
his honest girlfriend

[JoeP]

Have you considered a prepaid visa card? You can go to your credit union and get one and load money onto it. Get a PIN over the phone and set up an online account to manage it. Then you can load money onto it and observe expenditures and ATM usage. The card would be in your name but he would use it.

[timeout]

Have you considered a prepaid visa card? You can go to your credit union and get one and load money onto it. Get a PIN over the phone and set up an online account to manage it. Then you can load money onto it and observe expenditures and ATM usage. The card would be in your name but he would use it.

Hi Joe,
It's not my money, it's from a friend and he has just offered to send him a lump sum of several hundred dollars but not so sure he (friend) would be bothered. I have never used anything like a prepaid card. So the friend gets the card in his name, puts x-amount of $$ in it, he sends it my bf, gives him the pin and then bf can go to ATM and withdraw? are there big fees?

Feel free to direct me to info if you don't want to answer all my questions, sorry so ignorant on all this. (I manage my money very differently than he does, not sure if wedding bells are in our future or not! ).

I was think a cashier's check because it is drawn on friend's bank but it would still have to be cashed at bf bank (i assume).

thanks!!

tj

[kork13]

I'm a little confused at why he wants to keep his bank out of things. But then, perhaps I don't want to know...

Bottom line, if he wants to be able to securely send the money, they should just do it through their respective banks. At that point, he can withdraw the money and use it however he needs to.

A cashier's check/money order would work as well (you can get those at any bank or most post offices). But as you said, he would have to cash it somewhere, and guess what, his bank is the best place to go. They won't charge him a check cashing fee like he would be charged elsewhere, like at Walmart, some grocery stores, or stand-alone check-cashing businesses.

A prepaid card is decent as well, you can even get pre-loaded ones in set denominations around $100-$500 from grocery stores. A bank is the best way to get one of these though, and you can get it loaded with any dollar amount.

[shaggy]

A note of caution: Any plan that involves your BF giving cash to the friend should be avoided. E.g. "I'll give you a money order for $200 more than you need, and you give me the $200 and keep the rest."

[timeout]

I'm a little confused at why he wants to keep his bank out of things. But then, perhaps I don't want to know...

Bottom line, if he wants to be able to securely send the money, they should just do it through their respective banks. At that point, he can withdraw the money and use it however he needs to.

We have both been under/unemployed for a long time and occasionally get city or state assistance (food stamps, energy assistance, etc.) When you apply for these things they want to see your recent bank statements, credit card statements, bills, IRA (if you have one), receipts, taxes, etc. (different places ask for different stuff). He cannot get winter energy assistance if he has a $500 deposit in his bank account. I know it is hot in july but where we live they start taking apps. now

A cashier's check/money order would work as well (you can get those at any bank or most post offices). But as you said, he would have to cash it somewhere, and guess what, his bank is the best place to go. They won't charge him a check cashing fee like he would be charged elsewhere, like at Walmart, some grocery stores, or stand-alone check-cashing businesses.

Will it show up in his account anywhere that he cashed it? I know that seems to sound stupid, but it seems like everything gets "tracked" somehow these days

A prepaid card is decent as well, you can even get pre-loaded ones in set denominations around $100-$500 from grocery stores. A bank is the best way to get one of these though, and you can get it loaded with any dollar amount.

His friend (the one loaning him the money) would have to get this for him, right? Like I said in previous? As I said, I just have what I have, use my checking acct to pay everything and don't even use the one credit card I have (for absolute emergency) so don't know how these work.

thanks for your time

[kork13]

Will it show up in his account anywhere that he cashed it? I know that seems to sound stupid, but it seems like everything gets "tracked" somehow these days

If he redeems the cashier's check for cash, it should not reflected in his balance or statement. At least in my experience, most banks will not deposit a check into your account only to withdraw it immediately. As long as he requests it in cash, it should be no factor. This is likely the best option for you.

[timeout]

A note of caution: Any plan that involves your BF giving cash to the friend should be avoided. E.g. "I'll give you a money order for $200 more than you need, and you give me the $200 and keep the rest."

it's the other way around, friend giving bf money, but if you are referring to money orders in particular I did read about them not being safe and that cashier's checks are safer of the two. Thank you!

Anyone know about paypal? like if friend put money in pp account and then my bf had pp send him a check (bit at a time?). I guess he would still have to go to his bank to cash it, but the more i think of all this just cashing a check is just that, cashing it.

He is getting very tiring but maybe it is just all our financial woes

tj

[timeout]

If he redeems the cashier's check for cash, it should not reflected in his balance or statement. At least in my experience, most banks will not deposit a check into your account only to withdraw it immediately. As long as he requests it in cash, it should be no factor. This is likely the best option for you.

Thanks, this does seem to be the best solution and one our kind friend can live with, too. Thanks very much for your time and patience

tj & bf