Article Image 26559

Would you transfer money over Gmail?

Google has introduced a new function to Gmail accounts in the UK: the ability to attach money to emails. That leads to the obvious question – is it safe to send money over email?

Let's start with how it works. To use the new ‘attach’ function, you'll need to sign up to Google Wallet and connect it to your bank account, credit or debit card. You can then use the 'attach money' icon in Gmail to send funds to anyone via email, although the other person will also have to sign up to Google Wallet to claim them. 

However, users will be understandably cautious. Incidents like the August 2014 cyber-attack, in which the usernames and passwords of over 500 million email accounts were stolen, prove that email isn’t impenetrable.

The first step to protecting your funds is to use a unique password for every account. This helps to stop individual breaches affecting your entire online activity. Change your passwords several times a year, and make sure they're longer than eight figures, and include letters, numbers and symbols. You can find more advice about improving your online security at Action Fraud and Get Safe Online.

When using Gmail, there's also Google's own security measures. All money is passed through their account – Google pays for your transaction and then charges your account, so your bank details are never revealed. 

Other safe ways to transfer money online work in the same way, like e-wallets PayPal and Neteller. These let you send money using just a username and password, similarly hiding your details. However you choose to transfer money, you should always make sure the provider is FCA-authorised. This ensures your funds are held in their own secure accounts.

So, does this mean the likes of Gmail could replace more traditional money transfer services? For now, the answer is probably no. Google's offering is currently limited to domestic transfers, so you couldn't pay for your overseas holiday or wedding with it, for example. Foreign exchange brokers will still be your best option for send money abroad safely, quickly and cost-effectively. You can compare them using our intelligent tool, which displays their security credentials and tells you how other customers rate their services.

Comparison tool

Sending Currency
Buying Currency
Send USD Receive

Latest Articles

Chloe Rogers

Your site is top, thank you. I was going to use my bank and but came across you on Forbes site, I am glad I did. I went on and used Torfx very good service got the rate right, saved me money compared to many others you list, they even helped me get an aussie bank account. Once again thank you for help!

R.H

I am extremely impressed with the Investec currency exchange team service levels, they are fast and efficient. Excellent trading rates and straight talking, what more do you need.
Portugal property

MAKING OVERSEAS PAYMENTS FOR BUYING PROPERTY IN PORTUGAL

When purchasing property in Portugal, we explain all the steps involved in the purchase. We can demonstrate how to make the most of your money when making the international payments to cover the purchase price and associated costs and how to avoid exchange rate risks.

purchasing overseas property

OVERSEAS PROPERTY PURCHASES – SAVE ON YOUR PAYMENTS

Explaining how you can make considerable savings by getting better exchange rates and low fees associated when purchasing a property overseas. We show you how to make considerable savings, avoiding poor exchange rates, high fees and the best time to make the transfer.

Market Insights

Sign up for our newsletter.

Thank You for subscribing to our Newsletter

You have successfully signed up to our Newsletter