With the advanced reach of the internet and increased popularity of money transfer apps, it has become far easier to make financial transactions digitally. Whether you want to pay bills, split payments, or send money you can do it instantly with a mobile in hand connected to the internet. Millions of users are taking advantage of peer-to-peer money-transfer apps to facilitate online payment transactions.
Money transfer apps like Cash App, Venmo, and Paypal have revolutionized the way users transfer and receive money, with the inclusiveness of instant payments without any requirement of hard cash money in hand. These online money transfer apps have also given access to users who do hold traditional bank accounts.
If you are looking forward to using the best money transfer app then here is a list for you of top digital payment apps that are used worldwide. Although your choice may also depend on your situation such as what you’re using the app for and to whom you are sending the money. Read on to find out about the best money transfer app for mobile phones, here is a list of the top 5 free money transfer apps that are considered as the most secure and convenient international money transfer apps.
Top 5 money transfer app of 2020
Venmo
Venmo is a peer to peer digital payment app that allows its users to easily send and acquire funds from friends, family, and also from other users.. This application is only available for U.S. customers having a bank account in any US bank along with a debit card or credit card. Venmo also charges fees if users send money using a credit card and if users want to make instant deposits into their bank account. It may charge you 1.5% to 3% on instant deposits and for using Venom debit or credit card. Venmo is the best money transfer app and you must start using this app by following easy steps:
- Download the app
- Create an account by providing your personal details
- Link a bank account or debit card or credit card to your Venmo account.
Chime
Chime is one of the top mobile banking apps that is used for making online payment transactions. The Chime App Direct deposit is a popular way to receive your paychecks. Chime app is known for its feature of chime direct deposit as it is an instant way to receive money with any more wait while your funds sit in some mysterious electronic limbo.
You can get the paycheck within seconds from the employer which essentially means that with chime direct deposit you can receive your money up to two days earlier than your coworkers having any other traditional bank account.
Cash App
Cash App is one of the best online money transfers that is used by more than 7 million people. It is free to use this app for personal use and there are no hidden charges however you may have to pay a 3% fee when you use the Cash App business version and use instant deposits. With Cash App, you can also invest in cryptocurrency, and invest in cash app balance.
Cash App is also known as the instant money transfer app and very popular among users for features like cash card activation and direct deposit on Cash App. In 2017 cash app launched its own debit card known as cash card. Direct deposit allows you to receive a paycheck in your account but it is not limited to it as the cash app now works as a complete financial tool.
However despite having such great features cash app is not error-free app, sometimes users face common cash app problems. If you are facing any of the Cash App issues like transfer failed, login errors or cash app refund failed then you need to immediately contact cash app customer services.
Paypal
PayPal is an online payment system that lets its users send money to another person in a secure manner and without directly allowing a person to know their bank account. PayPal was owned by eBay till 2015 now it is a big company known as the best digital payment app.
It has now become the most popular and secure method of sending and receiving money online and is the most accepted form of payment with more online shops than any other online payment service.
Users can easily create a PayPal account and get the PayPal debit card and take advantage of its exclusive features of PayPal. Alternatively, you can use the money to buy something from all those merchants who accept PayPal and get free money on Paypal.
Zelle
Zelle app was developed by most prominent 30 US banks and works as a peer to peer mobile payment application. Unlike other peer to peer apps, money transfer with the Zelle app moves directly from one bank account to another. Anyone can create an account on Zelle app with an email ID or mobile number. Whenever users receive a payment Zelle may notify by sending a link on a registered email ID. As there is Zelle sending a limit of $500 within a week but users can increase this sending and receiving limit by verifying their Zelle account by providing personal details.
Conclusion: In the above-written blog we formulated a list of the best money transfer apps and suggested ways how to transfer money from different digital payment apps. It is the need of the hour that we all should use any of these international money transfer apps and make our financial transactions conveniently. Businesses and merchants should also adapt themselves as per the requirement of users and allow them to pay digitally using money transfer apps. However you must remember that though these apps allow instant payment transfer you should use it responsibly.
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