Mobile applications are an easy way to send money, making transactions much faster. Now it is easier to transfer money through the mobile app. Because there are many apps available for fund transfer.
But, the best mobile app for fund transfer depends on various factors such as user-friendliness, security, transaction fees, speed, compatibility etc.
In today’s world, users want to send money quickly and easily to friends or family. Hence, we now have several apps for money transfers that make it easy.
We will look at the 6 best mobile money transfer apps for fund transfer that can fulfil all these criteria. Whether you need to pay bills or send or receive money to a friend or family. Following are the easy and fast money transfer apps at all times.
Best Money Transfer Apps
These are—
- Paypal
- Venmo
- Cash app
- Zelle
- Google pay
- Apple pay
Each money transfer app has its own unique features and fees. Here is a brief information about all those apps and their fees.
PayPal
PayPal is one of the most popular money transfer apps around the world. It allows you to send money to anyone, You have to link your bank account or credit card to your PayPal account for easy transactions. With PayPal, you can also shop online and pay bills from thousands of merchants in the world.
- Fees: Sending money within the US is free when using your PayPal balance or bank account. The fee is 2.9% + $0.30 per transaction when using a debit or credit card. Additional fees may apply for sending funds internationally or for currency conversion.
Check here for more details:
Venmo
Venmo is a mobile payment service that allows you to send and receive money. It is a social app that allows you to share your payment history with others. Venmo also offers a debit card that you can use to make purchases at any store or online.
- Fees: Sending money from a linked bank account, debit card, or Venmo balance is free. There is a 3% fee for sending money by credit card. Instant transfers cost 1% of the transfer amount.
| Monthly fee | $0 |
| Per purchse | $0 |
| Instant Transfer | 1.75% (min $0.25 / max $25) |
| Per purchase | $0 |
| Sending money to people (using credit card) | 3.00% |
Cash app
Cash App is a peer-to-peer payment app that allows you to send and receive money instantly. It also offers a debit card which you can use to withdraw cash from ATMs and make purchases at any store. Cash App also allows you to invest in stocks and bitcoin through its platform.
- Fees: Sending money from a linked bank account or debit card is free. There is a 3% fee for sending money by credit card. For Instant transfers 0.5% – 1.75% fee of the transfer amount.
Zelle
Zelle is a digital payment network that allows you to send and receive money instantly. It’s built-in many banking apps, making it a convenient option for people who already have a bank account. Zelle also allows you to split bills with others and request payment from others.
- Fees: Most banks don’t charge a fee for using Zelle, but it’s best to check with your bank to be sure.
Google pay
Google Pay is a digital payment platform that allows you to store your credit and debit cards in one place. It is also user-friendly and allows you to send and receive money quickly and easily. Google Pay works with users and many businesses all over the world, so you can send and receive payments with just a few taps on your phone.
- Fees: Sending money from a linked bank account or debit card is free. There is a 2.9% fee for sending money by credit card. Additional fees may apply for sending money internationally.
Bigpay
BigPay is a mobile wallet and prepaid MasterCard that allows you to transact conveniently. It was launched in 2018 and is available in Malaysia, Singapore and Thailand. It is accepted by millions of merchants around the world and is also used to withdraw cash from ATMs.
BigPay allows you to transact in foreign currencies at the exchange rate, which is usually more favourable than the rates offered by banks and money changers.
- Fees: BigPay charges low fees for transactions including foreign ATM withdrawals, forex transactions and card replacement.
Note: Mus read the terms and conditions of each money transfer app for charges which is associated with the app. Some apps offer discounts for certain transactions, which can benefit you.
Conclusion
Those are all apps available in 2023, and each one has its own unique features and benefits. Whether you’re sending money to friends and family or paying someone. There’s an app that can help make the process faster and easier. Choose the app that works best for you and enjoy the convenience of mobile payments.
