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5 Best Money Transfer and Payment Apps Ever

Every day, millions of people around the globe have to figure out how to pay for the things they need. Whether you’re an independent contractor filing an invoice, friends splitting the check or a family looking to divide up household expenses, electronic payments have become the norm for paying for almost anything in a fast, secure way simply by picking up your smartphone.

Ahead, Apkzonic reviewed the best five apps for sending money to friends, family and even some small businesses. (Read our methodology for more information on how we choose the best money-sending apps.)

Venmo

Venmo

Venmo

Finance
4.2
Rating
10.27.0 Version
PayPal, Inc. Developer
WhatsApp Messenger

⭕ Pros

  • Widely used and therefore easy when splitting bills with friends

  • Can link as payment method to popular apps including Uber, Uber Eats and Seamless

  • Can use to pay at participating online merchants

  • Users who opt-in can use a free Venmo debit card

  • Can link to the Venmo Credit Card to earn rewards on most popular spending categories at authorized merchants (subject to 3% credit card fee for person-to-person payments)

❌ Cons

  • Charges a 3% processing fee when using linked credit card as a payment method

  • Charges a 1% fee for instant cash-outs (to disburse funds immediately to your bank account with no waiting period)

  • Not all users can currently link two separate Venmo user accounts to a joint bank account (Venmo is slowly rolling out this feature)


Zelle

Zelle

Zelle

Finance
4
Rating
10 Version
Early Warning Services, LLC Developer
WhatsApp Messenger

⭕ Pros

  • Fastest money-sending method (when both sender and recipient are signed up)

  • Compatible with hundreds of U.S. banks and credit unions

❌ Cons

  • You can’t link your account to credit card to use as payment method

  • You can’t send money to international bank accounts

  • Recipients must sign up for Zelle to receive money (if the recipient doesn’t enroll within 14 days, the payment will expire, and the funds will be returned to your account)


PayPal

PayPal

PayPal

Finance
4.6
Rating
8.49.0 Version
PayPal Mobile Developer
WhatsApp Messenger

⭕ Pros

  • Widely used by individuals and businesses alike

  • Flexible payment options with the ability to finance large purchases over six months interest-free with PayPal Credit (APRs vary)

  • High transfer limits: send up to $60,000 in a single transaction (depending on eligibility)

❌ Cons

  • International transfers can get pricey ($2.99 to $4.99, plus 2.9% of the transaction amount and an additional fee based on location)

  • Fee structure is more complex than other money transfer apps


Cash App

Cash App

Cash App

Finance
4.6
Rating
7.0 Version
Block, Inc. Developer
WhatsApp Messenger

⭕ Pros

  • Free debit card for users who opt in

  • Free ATM withdrawals if you set up direct deposit (otherwise $2 per withdrawal)

  • “Cash boosts” offer discounts with certain retailers that are automatically applied to a purchase to help users save money (only one boost may be active at a time)

  • App includes features to let users invest in stocks and buy and sell bitcoin

❌ Cons

  • Charges a 3% processing fee when using linked credit card as a payment method

  • Charges a 1.5% fee for instant cash-outs (to disperse funds immediately to your bank account with no waiting period)

  • Cash App is not FDIC-insured, despite its more sophisticated investing features


Remitly

Remitly

Remitly

Finance
4.1
Rating
5.34 Version
Remitly Developer
WhatsApp Messenger

⭕ Pros

  • Straightforward fee structure based on country and amount

  • Affordable economy transfers (3 to 5 business days)

  • High user approval rating in Google Play and Apple Store

  • Large network of financial partners to send money for cash pick-up

❌ Cons

  • Extra charges for linking credit card as payment methods

  • Express transfer fees as high as $93.99 (for transfers of $9,000 or more)

Money-sending app FAQs

How much do money transfer apps cost?

The best money transfer apps are free to download, but costs vary depending on how you use them. Most services offer free bank transfers at a standard speed of 1 to 3 business days, but charge fees if you want to pay with a credit card and/or speed up the delivery to your bank account. International money transfers vary based on the country’s exchange rates and bank fees, but you may still be able to choose a standard or economy delivery versus a more expensive express delivery. Be sure to check fees before assuming that all money transfers are free.

Are money transfer apps safe?

Money apps are arguably safer than cash since most require you to create an account with a password and two-factor login methods (such as sending verification codes) to verify your identity and the person you are sending money to.

Likewise, using a money app is safer than writing a check because it will not expose your bank account number and routing number to the person who receives it. By signing up for a money transfer app, you are, in essence, making it possible for anyone to send you a digital payment without viewing any of your secure account information, just your user ID or email address/phone number. And unlike cash, digital payments cannot be lost.

Because digital money apps allow you to send money to anyone with an account, the one caveat is that it can be easy to send money to the wrong person if you’re not careful. Some apps offer additional protections, like QR-code scanning, text or email verification, unique user IDs and profile pictures to ensure the right person is on the receiving end of your payment.

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