Best Money Transfer Apps

Money transfer apps, also known as peer payments apps, are relatively new and are challenging traditional financial institutions such as US banks and credit unions.

All you need is an iPhone or Android device and an internet connection to send money cheaply and securely to pretty much anyone in the world.

This article will briefly look at how these apps work and some of the best money transfer apps before answering some of the most frequently asked questions about money transfer apps.

11 Best Money Transfer Apps


In many ways, PayPal is the grandfather of money transfer apps. Most people will know it as it has gained popularity worldwide.

PayPal is used by both individuals and businesses alike and enjoys a far-reaching adoption rate making it an excellent app to have.

Setting up a PayPal account is easy and painless. All you need is an email address, and once you’ve set up your account, you can add your cards for transferring money.

Once set up and connected, you can use PayPal to transfer money to and from friends and even pay for online purchases where the PayPal payment option is available.


Venmo is so popular right now that you may have heard it used as a verb (as in, “I’ll Venmo you.”)

Besides transferring money, the app includes many awesome features, like a two-day head start on your paycheck, 3% cashback, cryptocurrency purchasing, and many others.

Many businesses also accept direct Venmo payments, allowing you to pay for your purchases through the app. However, you can also get a Venmo Mastercard Debit Card or a Venmo Visa Credit Card, helping you expand what you can pay for through your Venmo account.

Cash App

Cash App is more than a money transfer app. Of course, you can receive and send money just like many of the other apps reviewed here. But with Cash App, you can also use it as a bank account and receive your paycheck up to 2 days earlier.

It’s important to note that Cash App is not a bank. Even so, you can design and get your own Cash App debit card, buy stocks and bitcoin, and make ATM cash withdrawals. To take advantage of the free ATm withdrawals, you’ll need to have at least $300 deposited into the account each month.


Zelle is a money transfer app tied to US bank accounts. Think of it as an app that bridges together accounts held at different banks, allowing you to transfer money as if they belonged to the same bank. So much so that many bank mobile apps include it in their banking apps.

All you need to transfer money to others is their email address and phone number – provided they have a US bank account. Money is with them in minutes! If the person you send the money to doesn’t have Zelle, they will receive instructions on the steps they need to take to get their hands on the funds.

Google Pay

While Google Pay has traditionally acted as a mere connector to your bank card, today, it has evolved into a fully-fledged money transfer app able to send and receive payments, earn you rewards, and help you save money.

Available for both Android and iOS devices, Google Pay is currently used in 42, including the US Transfers are free and instantaneous, and you can withdraw funds through an ACH transfer free of charge.

Google Pay also has strong security and privacy, cashback deals, and takeout deliveries, among its many perks and features. A business version is also available for those businesses who would like to take advantage of what this app offers.


WorldRemit is a money transfer app that allows you to send money from the US to more than 130 countries worldwide.

It promises low exchange rates and fees and allows you to transfer money to hundreds of different banks. Other options included within the app to transfer money include cash pickup and mobile money accounts.

Most transfers take minutes to complete and use a high level of security to keep your money safe. You can easily view the exchange rates on their website. The first three transfers are free when using the code 3FREE.

Facebook Pay

Facebook Pay is a payment app closely tied to Facebook and its family of apps.

While it isn’t available everywhere yet, it has already been rolled out in the US, allowing you to make payments through Facebook, Messenger, Instagram, and Portal.

You can also use Facebook Pay to pay for purchases wherever a Facebook Pay button is present. It will even load your personal and shipping information from your Facebook account. There is no separate app to download and install; however, you need to have a Facebook account to use Facebook Pay.


Azimo is a money transfer app that allows you to send money to over 80 countries. It promises lower fees than banks, and transfers are either instantaneous or completed within one hour – even over the weekend.

You don’t need to transfer money into an Azimo account. Instead, you can either enter your card details when making a transfer or set up a bank transfer from your bank account.

The app also promises excellent exchange rates and has favorable reviews on Trustpilot. You will also receive a special rate on your first two transfers, without a fee.

Western Union

While Western Union is most commonly known for its stores, you can also use its app to transfer money. It works like physically going to an outlet – only you can do transfers from the comfort of your own home.

You can send money to bank accounts, a Western Union agent location, or a compatible mobile wallet. You can also use the app to pay bills, track transfers, and view exchange rates.

With Western Union, there’s no need to transfer money into the app. Instead, you can choose from several payment options: either link your bank account, enter your card details, use Apple Pay, or drop off cash at an agent location.


Wise, formerly known as Transferwise, is a multi-currency account that makes sending and receiving money across borders easy. The app supports over 50 currencies and allows you to transfer money cheaper and faster than traditional banks.

Wise also has its debit card, which is accepted in 200 countries and allows you to make payments in the country’s local currency. You can also get an account from 10 different jurisdictions, including the US, EU, UK, and many others.


Using MoneyGram, you can send money locally or abroad from the United States, pay bills, and even check currency exchange rates and applicable fees. The app is free to download and is available for both Apple and Android devices.

When transferring money, you can choose from several payment methods:

  • entering your bank account details (your checking account number and routing number)
  • your debit/credit card
  • cash at one of their locations.

How Do Money Transfer Apps Work?

Money transfer apps can be used to transfer money from one account to another. Typically they are available for Android and iOS devices. They allow you to connect your bank account to transfer money into the app and out of the app if you wish.

You can download money transfer apps from the App Store if you have an iOS device or the Google Play Store if you have an Android device.

Why use a money transfer app?

Money transfer apps are great for many reasons.

You can use them instead of a bank transfer as they offer low to no fees and much quicker processing time (usually instantaneous). These two features make money transfer apps are no wonder why these apps are so popular among consumers.

Today, there are many money transfer apps to choose from, making it difficult to choose one. That’s why people may often have more than one money transfer app on their smartphone.

Not all apps are the same, each offering different perks and features. As such, it pays to know what is important to you, as this will help you narrow down the list of candidates before making your final choice.

Pros and Cons of Money Transfer Apps


  • Low to no fees: Money transfer apps typically have no or low transaction fees and transfer fees compared to banks.
  • Fast processing times: Money transfer apps are near-instantaneous; however, this can take longer when transferring to bank accounts across borders.


  • Compatibility: Not all apps are compatible with each other, so you might end up having to juggle multiple apps to send and receive money to and from different people.

Frequently Asked Questions

How can I send money to someone instantly?

If speed is what you’re after, you can send money to someone instantly using a money transfer app.

These apps are much faster than the traditional money transfer service banks offer, allowing you to send and receive money in real-time. International transfers to bank accounts can take longer, generally taking up to one business day.

Which online money transfer app is safe?

All money transfer apps reviewed in the article above are considered safe. While such apps do their utmost to keep your money and data safe, you need to ensure you do your part as well.

Never share your passwords, and avoid using public Wi-Fi to access your account and make transfers.

Is there an app to transfer money internationally?

Yes, there are several apps that are great for international money transfers. Since fees can vary by currency and country, make sure you check the applicable rate and shop around if you have the time.

Some apps also offer discounts on the first few transfers, which can help you keep costs even further down.

What is the best money transferring app?

Since different money transferring apps have different features, the best app for you will depend on what you’re after as a user.

Understand which features are important to you, such as whether the app has built-in notifications, how many business days it takes to complete international transfers, and the fees involved.

If all of your friends and contacts use the same app, you might also want to get the same app to facilitate money transfers.

What is the safest app to transfer money?

All apps reviewed in the article above offer strong protections.

Most apps offer a multitude of features to ensure the safety and protection of your money, like two-factor authentication, transaction monitoring, data encryption, fraud detection, and more.

Which money transfer app is the fastest?

Almost all apps listed above offer instant transfer times and international transfers within a maximum of one day.

If you are sending money abroad, check the times and fees for that country since these can vary quite a bit, especially if you are sending money to some exotic location.

Which money transfer app is the cheapest?

When it comes to pricing, most money transfer apps offer domestic transfers free of charge.

Apps are also free to download and use with no monthly fees. If you are sending money abroad, check applicable fees and exchange rates since these can get quite costly.