Want to transfer money online but aren't sure which company to use? Don't fret: there are ways to get this done. But you need to take a little time to weigh and study your options before you transfer money online. Otherwise, you run the risk of losing money due to bad exchange rate or even a mishandled user error.

It can sometimes be dangerous to transfer money online. There are several websites that will claim to do it for you, but it's hard to know which one will be on the level.

With some companies you have to be extra careful; they won't refund your money if you commit the deadly sin of "user error"! They will claim they can't give you a refund because they can't convert the money back from or to U.S. dollars.

You don't have to be told how much (or rather how little) sense this really makes--but you do need to do your homework before you pick a service to transfer money online.

That's not the only reason to shop around before you transfer money online. Keep in mind that different services may provide you with a different exchange rate. This is one reason that offline wire services, as well as rechargeable debit cards can be so attractive.

These charge their fee, and the exchange rate is left up to whatever value the currency holds up to the Dollar as determined by the financial markets each day. (In other words, you don't have a money-sending service trying to dictate what the going exchange rate is that day. You can be sure companies that decide the rate on their own terms are likely to lean in one direction a little--and it's not going to be to your advantage.)

You can always opt for offline transfer as well. You can send a check by ordinary postal mail. This is where the term "snail mail" (as opposed to email) will really show its relevance; the money may not arrive for up to five weeks!

There is one way to transfer money online that does involve physical transfer at first. You can buy a debit card for anyone you want to send money to. You then pre-load it online or over the phone. Need to send a little more after that? Just get back online and transfer funds from your checking account or credit card.

The debit card is delivered via FedEx to the recipient's home or business. This is faster (and to be honest, safer) trusting a money order to the mails. They recipient can then take their card to almost any ATM and withdraw the money they need--without having to haggle with anyone over the exchange rate.

You have a wide range of options if you want to transfer money online. Just make sure you pay attention to the pros and cons of each before you send that money to a business associate or loved one!