7 of the Best Money Transfer Apps


a dollar sign flying out of a cell phone, as if transferring to another place

They say money makes the world go round. At the very least, money goes all around the world.

In the old days, the only way to send money from one person to another was via stagecoach, a transportation method that was prone to robbery and security issues. In the even older days, money did not exist.

We have come a long way since then, and now, not only does money exist, it often exists in the form of digital information in a bank account. That means we can transfer money instantly and without a single stagecoach. 

You might still need a mobile app to transfer funds, however. So let’s see how you can turn your mobile phone into a tiny electric stagecoach.

Transfer app No. 1: Venmo

If you Google “money transfer app,” the first result — at least for now — that isn’t an advertisement or a list of money apps is Venmo. Or at least that happens when we Google it. We have no idea how your previous searches might impact the results. 

Regardless, it’s clear that Venmo is a well-known, instant money transfer app. Walk through any hip brunch place, and as attendees attempt to split the bill, you’ll likely hear cries of, “So, you all have Venmo, right?”  

Venmo is simple and free to use, and it can link directly to your bank account. You can send money or request money as easily as sending a text. When someone fills your Venmo request, the money appears as an addition to your Venmo balance. You can then transfer the money to your bank account instantly for a small fee, or for free if you’re willing to wait a few business days.

You can also link a credit card or debit card to your Venmo account, but note: Using either will incur transfer fees, and you cannot transfer money from a Venmo balance to a credit card.

There’s also the social networking element where you can make notes and create captions for different transactions and make them visible to your network (if that’s appealing to you). 

Here’s the link to the App Store for iPhone users, and here’s the Google Play Store link for those who use an Android phone for mobile banking needs. 

Transfer app No. 2: Paypal

Did you know Paypal owns Venmo? Both are useful in their own way, with Venmo often used as a mobile payment method and Paypal for other devices. Paypal is one of the original money transfer companies and is meant for more formal transactions than Venmo. 

Your Paypal account may not be able to fully replace your bank account, but it has been adding some additional services through banking partners. Paypal transaction fees for business transactions or card use are similar to Venmo fees, though the maximum transfer amount for Paypal is $10,000 instead of $3,000.

Paypal may not have initially been built for a smartphone, but you can still get it from the App Store here or the Play Store here

Transfer app No. 3: Cash App

From Square, the people who brought you the little dongle that lets food truck workers swipe your credit card on a phone or tablet, comes the Cash App. Formerly known as Square Cash, Cash App is similar to Venmo and has recently started receiving more monthly downloads. 

Cash App also allows users to claim a “$Cashtag,” or a unique username in the form of a URL, so they can receive payment from friends, enemies, and strangers alike. According to an article in The Wall Street Journal, the app has grown in popularity among the hip-hop community and has been featured in a number of songs. 

Cash App has recently introduced basic investment options to further attempt to stand out among the crowded money transfer services, and aims to provide options for “the 63 million U.S. adults left behind by banks,” The Wall Street Journal reports. 

Here’s the App Store link and here’s the Play Store link

Transfer app No. 4: TransferWise

While you have many options to send money within the United States, international transfers can be tough. TransferWise allows you to send money around the world to more than 50 countries. It automatically takes exchange rates into account and provides you with a clear picture of what you’ll pay. 

Paypal also offers its own international money transfer service called Xoom, so you can do your own comparison to find out which works better for you.

Here’s the TransferWise App Store link and here’s the Play Store link

Transfer app No. 5: Google Pay

If you like taking care of business — whether personal or for work — with your Google accounts, consider Google Pay. Google Pay used to be called Google Wallet, and it allows you to send and receive money instantly just like the other apps. It also allows you to pay by tapping your phone at certain retailers. It also works as a payment processor for customers and businesses.

It isn’t available on the App Store, of course, but here is the Play Store link

Transfer app No. 6: Apple Pay

It’s Google Pay but for Apple. It’s like picking between Pokemon Red or Pokemon Blue. Figure out which one best fits your lifestyle, accounts, and products. 

Check it out here

Transfer app No. 7: Zelle

Zelle allows you to send money directly to and from bank accounts. Multiple banks and cards, including Bank of America and Mastercard, have chosen to build it into their money transfer options, so maybe you want to choose it, as well.

Here’s the App Store link and here’s the Play Store link.

The easiest way to transfer money

The easiest cash transfer method will always be hiding your cash in a handshake to pretend your giving your friend a bribe when you pay them back. On the other hand, if you want more utility, these apps will provide some decent bang for your buck.

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