- Fast transfers: With most apps, you can send and receive money right away. Some come at an extra cost and some don’t, but usually you can get money immediately.
- Hard to lose: With cash, there’s a chance you could lose or misplace your funds. But with electronic transfers, you’re moving money to and from your app or bank instead.
- Safe and secure: For most users and transfers, your money comes in and goes out safely and securely through multiple levels of data encryption.
This content is created by AP Buyline in accordance with AP’s editorial guidelines and supervised and edited by AP staff. Our evaluations and opinions are not influenced by our advertising relationships, but we may earn commissions from our partners’ links in this content. Learn more about AP Buyline here.
Updated July 23, 2024
Sending money to friends and family is easier than ever with money transfer apps. But with so many choices, it’s difficult to figure out which one is the best.
We evaluated them based on transfer speed, cost, compatibility, international capabilities and more. Here are the best money transfer apps so you can figure out which one is right for you.
Cash App: Best for user experience
With 57 million monthly active users, it’s no wonder Cash App is one of the easiest apps to use for sending and receiving money from friends and family. It’s easy and free to sign up. You’ll link your bank account, transfer money and get started.
To send money, you’ll enter the \\$cashtag or email address of the person you’re sending money to and the amount you want to send. Then hit “pay.” It’s as simple as that. You can move money from your Cash account to your bank account and back within a few days for free, or instant transfers for a small fee.
Apple Cash: Best for Mac users
For the millions of iPhone users worldwide, Apple Cash is one of the easiest and fastest ways to send money to other iPhone users. You can set up Apple Cash in your iPhone Wallet and for most users, it’s free to send money to friends and family straight from Messages.
You can also send money using other transactions, like when you’re making purchases in person through Apple Pay or online. Transferring funds is quick and instant through your bank account, making it one of the best money transfer apps around.
PayPal: Best for most users
PayPal — founded in 1998 — is one of the oldest and most trusted online payment processing companies in the world, with more than 420 million monthly active users. Most folks prefer PayPal for its security features. You can send money through PayPal using someone’s name, PayPal username, email address or mobile number. You can send money through the PayPal app or online, which is good for folks who don’t want to download an app and would rather open a webpage instead.
While it’s a U.S.-based money transfer app, you can also use it in more than 200 countries around the world.
Remitly: Best for international transfers
If you need to send money to someone in another country, especially if you’re supporting family who live far away, you might want to use Remitly. You can send money to someone through Remitly who can receive funds to a bank account, a debit card or even a physical pickup location if you want someone to get cash.
Fees vary widely depending on the country you’re sending money to and where the money is coming from. For instance, you’ll pay a fee if you send money from a credit card rather than a bank account. But Remitly boasts more than a dozen languages with 24/7 customer support so you can reach someone whenever you need help.
Venmo: Best for friends
While PayPal bought Venmo in 2013, Venmo still operates as its own app with more than 60 million users. One of the biggest standout features of Venmo is the public display of payments between friends. You can see where your friends send their money (although not how much) along with any personalized messages they wish to include. Say, for instance, a group of friends go out to eat and one person picks up the tab. The rest might send that friend their portion of the bill on Venmo.
Venmo is best used between friends who both have Venmo accounts. You can send money to and request money from other Venmo users, which cuts down on sending funds to accounts you don’t know. Venmo is only available in the U.S., while PayPal is available around the world.
Zelle: Best for bank transfers
If you want to send money to a contact without having to download a separate app, that’s where Zelle comes in. For many folks, you can use your existing banking app or bank website to send money with Zelle. You’ll add a person’s phone number or email, put how much you want to send, select the bank account the money will come from, and then send.
Zelle makes it easy to send straight from your bank to someone else so you don’t have to have many different apps to send and receive money with various people. But you do have to make sure the information is valid and correct before sending because once the money is sent, it can’t be canceled.
How we selected the best money transfer apps
We evaluated the best money transfer apps based on:
- Availability and compatibility: How easily you can access the apps on your phone, how quick it is to sign up and use and limitations, if any.
- Fees: If there are any charges to download or use the app or send/receive money.
- User experience: Most money transfer apps are easy to use and intuitive, but some don’t have the same simple user experience as others.
- International use: Some apps are limited to transferring money within the U.S. only while others offer international transfers.
How to pick the best money transfer app for you
With so many different money transfer apps, compare your options based on:
- Extra costs: If you have to pay an extra fee for instant money transfers, how much will it cost you? What if you want to pay someone for goods and services? See what you’re on the hook for and when.
- Transfer speed: Does the app send money right away? If so, are there any requirements you need to meet to get instant transfers?
- Compatibility: Make sure the app works with most recipients and at the very least, with those you want to send or receive money from.
- Requirements: See what you need to sign up for the app and link bank accounts and credit cards.
- Bonuses: Some apps offer bonuses when you use them at certain retailers or if you sign up for more than one account with the company.
Pros and cons of money transfer apps
Pros:
Cons:
- Nonreversible: Typically, once you send money, you have no way of canceling the transaction. That means you should only send money to those you trust and know.
- Scams still happen: Fraudsters who gain access to your credentials can log into your app and steal your financial information. Set up as many security measures as necessary to protect your information.
- Could face fees: Some apps charge fees depending on how you want to send money, which means you could pay more on top of the amount you’re already transferring.
Common fees and charges associated with money transfer apps
While not all money transfer apps charge fees, you could face some, including:
- Instant transfers from your bank account to the app.
- Paying a business or service provider.
- Wire transfers (either incoming or outgoing, domestic or international).
- Paying from a credit card.
- International payments compared to domestic ones.
Tips for safe and secure money transfers
- Check your recipient’s information: If you send money to the wrong person, you may not get your money back. Double- and triple-check recipient information before sending. If you’re worried about messing up, send a small amount first and check with the recipient to verify the transaction.
- Don’t accept from unknown recipients: If someone is trying to send you money but you don’t recognize the sender, ignore the transaction. If someone is texting you asking how to send you money, don’t respond. You might be getting scammed.
- When in doubt, don’t do it: If you’re worried about sending money to someone you don’t know, find alternative ways to send money or pay for something. A vendor who only offers one payment method, for example, should give you pause.
Alternatives to money transfer apps
While money transfer apps are easy to use and typically free, here are other ways to send money.
Even though Zelle is on our list, it integrates with your bank and isn’t a separate app. So as long as you send money with Zelle through your bank app, you can use Zelle. Here are some other alternatives to money transfer apps:
MoneyGram
You can send money using a few different types of methods, including cash, credit and through a bank account with MoneyGram. This option is best for folks who have cash on hand and need to send money, but not necessarily electronically through an app. There are more than 35,000 MoneyGram locations nationwide.
You can send money domestically or internationally with MoneyGram. There are some fees and they depend on how much you’re sending and where you’re sending money to. In some cases, it’s free to send money to other countries, while for others it’s a small cost. You can also send MoneyGrams online through its website or the app.
Western Union
You can send money through Western Union, which has nearly 70,000 locations across the nation and hundreds of thousands across the world. MoneyGram and Western Union work similarly. You can visit a location to send cash, or visit their website to send money online. You can also receive money from Western Union domestically or internationally.
In some cases, you could face a small exchange fee, but it depends on where you’re sending money to and how much. Domestic transfers are free.
| Brand | Best for | Fees | Transfer speed | Availability | Links to accounts |
|---|---|---|---|---|---|
Apple Cash | Mac users | 1.5% for instant transfers | Instant or 1-3 business days | Automatically installed in iPhones | Yes |
User experience | Up to 1.75% for instant payments | Instant or 1-3 business days | Apple Store and Google Play | Yes | |
PayPal | Most users | 2.9% for personal transactions | 1-3 business days | Apple Store and Google Play | Yes |
Remitly | International transfers | Transfer costs and express transfers (both vary) | Varies based on where money is coming or going | Apple Store and Google Play | Yes |
Venmo | Friends | 1.75% for instant transfer | Instant or 1-3 business days | Apple Store and Google Play | Yes |
Zelle | Bank transfers | None | Within minutes | With most banking apps | Yes |
The AP Buyline roundup
Sending and receiving money is pretty easy with many money transfer apps available. Electronic transfers are quick and painless, and in most cases, free. You can use one or many different apps, depending on where you’re sending money to. Having options also makes sure that if someone is sending you money, there are a few different ways to get it to you.
Frequently asked questions (FAQs)
What is the best currency transfer app?
If you’re sending money internationally, you’ll need to convert funds to the local currency first. Most money transfer apps that send money internationally already do this, and there’s a chance you’ll pay a fee (but not always).
Is Zelle safer than Venmo?
Both Zelle and Venmo are safe to send money. Zelle works through your individual bank while Venmo is a separate app.
What app can I use to send money instantly?
Most money transfer apps allow you to send money instantly to others.
This content is created by AP Buyline in accordance with AP’s editorial guidelines and supervised and edited by AP staff. Our evaluations and opinions are not influenced by our advertising relationships, but we may earn commissions from our partners’ links in this content. Learn more about AP Buyline here.