Transferring money is one of the most important processes in our day-to-day life. With the help of technology, transferring money has become much easier and quicker especially if you have reliable high-speed internet. Now, we can do all kinds of transfers, starting from sending small amounts of money to large ones in just a few clicks.
Money transfer apps are now a preferred way for people to transfer money, and for good reason too. It’s faster and cheaper. Gone are the days when you have to make a trip to the bank just to transfer money across borders. That said, not all money transfer apps are the same. In fact, some of them aren’t even cheaper than the banks.
In this article, we’re going to look at some of the best money transfer apps out there. We’ll look at what makes these money transfer apps great, so read on.
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What are money transfer apps?
Money transfer apps are a new way to send money to another person. These are applications that enable you to send money to another person through a smartphone or a tablet. A money transfer app is a very effective tool for people who need to send money to a friend or a relative, or even to pay for services rendered.
These apps are easy to use, because they are designed to simplify the process of sending money, but they are different from each other in a number of ways.
What are the best money transfer apps?
There are a lot of ways to transfer money, and some of them are quite simple and easy. Here is a list of the best money transfer apps in order to help you decide which one to choose:
1. Paypal
Most of us are familiar with PayPal. As a recognized company for sending money and purchasing items online, it also offers international transfers as a service. PayPal has over 200 million users and that number is growing. The best part about this money transfer app is the fact that you can send money, receive money, and transfer money to your bank account.
As one of the recognized international money transfer apps, PayPal has low fees when it comes to sending money abroad. It all depends on the country you are trying to send money to, but the fees are quite low. Likewise, it is an excellent way to send money because there’s no paperwork involved and it’s fast. You can send money to anyone with an email address and you don’t need a bank account to cash out. So, if you’re looking for a way to send money internationally, then PayPal is a great option.
2. Wise, formerly TransferWise
TransferWise, the peer-to-peer money transfer provider, has recently rebranded itself as Wise. The company has also introduced a new logo to go along with the new name. Wise is a mobile banking app that allows users to send money to friends and family. It charges a small fee, which is actually less than the hidden fees that banks charge you for doing a similar transaction. The way it works is that its currency exchange rates are set based on the market rate at which they transfer the money. This is why they can offer their service at no cost to you.
The platform allows you to keep and transmit money in 50 different currencies. All transfers occur at interbank rates with no markup. It’s also incredibly user-friendly, and the signup procedure is simple.
3. Venmo
Venmo is another mobile application that lets users send to and receive money from other users. The app is available on both iOS and Android devices. Users need to have a Venmo account to use the app. They can sign up using their Facebook account or by using their email address. Venmo users can purchase money adding funds to their Venmo balance using a credit card, bank account, or debit card.
Users can also link their Venmo accounts to their bank accounts. They can also send money from any Visa or Mastercard account. Users can also send money to small businesses.
4. Zelle
Zelle is the most accommodating money transfer app to send money online to friends or family. It is also accessible to almost everyone, regardless of your bank affiliation. The app comes in handy when you need to send money quickly, but can’t get to a bank. You can deposit money into your account within minutes, and then send it to your friend or family member.
This app is so convenient that it’s liable to replace the old-fashioned bank wire. While banks will still offer wire transfers, Zelle makes the process much faster and easier. It’s completely free to use, too, so this is one app you should definitely check out.
5. WorldRemit
WorldRemit is ranked as the best money transfer app, given the fact that it is one of the most secure and fastest transfer platforms around. It allows users to send money to over 120 countries around the world at competitive rates and with a reasonable fee. Users can send money to family and friends using their mobile phones and using any major credit or debit card from around the world.
This money transfer app gives you peace of mind, knowing that your funds are protected by industry-leading security features. You can also track your transfer every step of the way with its progress tracker.
6. Facebook Pay
Facebook has been making headway in the financial world for a few years now. It launched a peer-to-peer payment app in 2015 and added support for Messenger money transfers in 2016. Most recently, the platform introduced a new peer-to-peer payment system called Facebook Pay. It says it will let people send money to each other directly in Messenger.
The Facebook Pay app is one of the best money transfer apps on the market today. It is also one of the most sociable money transfer apps. Not only does it offer you the convenience of transferring cash to your bank account, but it also allows you to spend your money on lots of different things.
7. Google Pay
Google Pay is the digital payment service from Google. It’s a way for you to pay in stores, in apps, and on the web with a single experience. It’s built into popular Google products like Gmail, Chrome, Android, and Google Maps. And from one account, you can easily send and receive money through Google Pay.
To make it even easier for you to use Google Pay, Google is adding support for new partners, like Airbnb and Uber. Now, if you need to pay immediately, you can use Google Pay to complete the transaction. And, if you have Gmail, you can even get receipts and confirmations automatically delivered to your inbox.
8. Apple Pay
For years, Apple has been a leader in the mobile payments arena. It offers its users a secure payment platform that allows them to make easy payments without having to carry cash or credit cards. Apple Pay is one of the best ways to pay for something in the digital world. It is one of the fastest, easiest, and most secure ways to complete transactions for Apple users.
In today’s world, many businesses have already started to accept Apple Pay. Thus, they now allow their customers to pay for products and services with the touch of their fingerprint. This means that you are able to use the same method of payment that you use on your iPhone or Macbook to pay for items on the internet, in apps, and in-stores.
9. Cash App
The Cash App allows you to send money easily to anyone in your contacts. You can also transfer the money to your bank account or to your debit card. The app’s interface is easy to navigate, and there is a $1 transfer fee, which is deductible from the amount you send. If you want to transfer money to an e-commerce account, there is a 3% fee.
The app is available on iOS and Android, and you can use it to pay at stores that accept Apple Pay. This app also employs up-to-date security encryption and fraud detection technology. So, your money is in good hands.
10. Remitly
The Remitly app is a simple and secure way to send money through your smartphone. You can use the app to send money for bills, rent, utilities, groceries, and other expenses. You can also utilize the app to send money to friends and family for any occasion. You can send it to mobile wallets, bank accounts, and cash pickup locations.
The app is very user-friendly and it’s one of the fastest money transfer apps out there. The best part about it is that sending money is free. There are a lot of money transfer apps out there but Remitly is one of the best. If you need to send money to other countries, this is a great app to use.
11. Western Union
One of the oldest financial services companies in the world, Western Union is a widely famous money transfer service. While there are a ton of money transfer apps out there, few can compete with the popularity and ease of use of the Western Union app. This company is a household name when it comes to money transfer services and cash pickup. And this app does it justice. It’s simple, intuitive, and easy to use.
Best of all, it’s compatible with both Android and iOS devices. Western Union is a favorite among customers because it’s so simple to use. You’ll be able to transfer money to nearly anywhere in the world, and you can even use it to pay bills. Plus, the Western Union app is safe and secure — you won’t have to worry about your money being stolen.
12. MoneyGram
MoneyGram is another instantly recognizable name in the money transfer industry, as well as one of the oldest. Because of the company’s size and scope, it’s easy to transfer money almost everywhere; however, fees vary depending on the destination.
This platform does offer a rewards program that provides you a percentage off future transactions. MoneyGram also has a large number of locations across the world, which is appealing to many people who receive money transfers.
What should I consider when choosing a money transfer app?
When choosing a money transfer service, you need to consider a few things. The first thing to consider is the type of transfer you would like to do. For example, you might want to transfer money from one country to another. Or you might want to transfer money from your online account to your bank account.
The second thing to consider is the amount of money you would like to transfer. It’s important to make sure that the money transfer app you choose can handle the amount of money you want to transfer.
The last thing to consider is the money transfer app’s customer service. You should make sure that the money transfer app has good customer service. It’s much better to have a money transfer app with good customer service than a money transfer app with bad customer service.
Are money transfer apps safe to use?
The answer is yes, and it is for a few reasons. First of all, you need to be careful about where you are using the app. If you are using it at an ATM, for example, then it might not be as secure as using it in an online environment. You can also check out the reviews on Google Play or the App Store.
There are often reviews from users that can help you see if they have had a good experience with the app. It is also a good idea to keep your phone or tablet updated. The app will have a lot more security if your phone has the latest operating system.
Enjoy the convenience of money transfer apps via Streamtech
People have always been looking for more convenient ways to pay for the things they need. With the advent of technology, this is now possible with money transfer apps.
In order to use these apps hassle-free, you will need reliable high-speed internet from a trusted fiber internet service provider in the Philippines. Streamtech provides users in franchise areas with dedicated internet access, leased lines, and WiFi services, all of which are powered by our own fiber-optic backbone link.
Streamtech offers affordable home fiber plans designed to suit your needs. For your homes, you can get up to 25 Mbps speed of internet for as low as P1,499. You may want to visit Streamtech on Facebook for more details and updates.
