Money transfer apps allow you to send money instantly to family and friends using your phone. Instead of going to an ATM to get cash or writing a check to exchange money, you can transfer money from your bank account to someone else’s using one of several popular peer-to-peer money transfer apps.
3 Popular Money Transfer Apps
Transferring money online has grown more prevalent over the years. As a result, many companies have developed ways to transfer money using online accounts.
In recent years, money transfer activities have moved from computers to phones. During this shift, several mobile transfer applications have emerged as top money transfer apps.
Three of the most popular apps for sending and receiving money are:
- Cash App
- Venmo
- PayPal
All three apps excel at making it super easy to send and receive money. But what makes them really stand out is that each offers a robust suite of financial products in addition to the ability to transfer money.
Read below to learn more about these three popular apps.
Cash App
The Cash App offers a robust suite of financial tools to help you manage and grow your finances. With the Cash App, you can send and receive money, sign up for the Cash Card debit card, perform banking activities, invest in stocks, and buy and use Bitcoin.
It is easy to use and has tons of cool features. You can earn cash and Bitcoin boosts using the Cash Card, avoid fees except for a reasonable and fair card fee, and invest in stocks with as little as $1. You can also set up a business account to receive payment from your customers.
Over 24 million people use Cash App. Check out the Cash App review to learn how you can download and use the application.
Venmo
Venmo is a money services app that allows you to send and receive cash, shop online, and more. It even has a social aspect to it, which makes using the app more engaging and fun. Not surprising given that the application has 76 million users and social features like emojis and animated stickers.
Despite its fun and games, Venmo is the real deal. In addition to securely sending and receiving payments, you can manage your balance, make direct deposits, and use it for your business by setting up a business account.
Venmo even offers Purchase Protection in case something goes wrong with your purchase. Venmo covers eligible payments without extra costs for you.
Venmo allows you to buy and sell cryptocurrencies. You can buy Bitcoin, Ethereum, Litecoin, or Bitcoin Cash and turn on price alerts for push notifications when the value changes by 5 or 10 percent in a day.
Read a Venmo review to learn more about it.
PayPal
PayPal offers a huge set of products and services for personal and business accounts. It also has tools software and web developers can use for integrating payment services into applications.
With PayPal personal accounts, you can send and receive money, shop and buy products online, and manage your balance. Too many features exist to list them all, but in addition to basic features like sending and requesting cash, you can donate money, use QR codes, enjoy deals and cashbacks, buy now but pay later, buy cryptocurrencies, and so much more.
Business accounts also come with a ton of great options. Whether you are a small-to-medium business or enterprise, PayPal has what you need. Founded in 1998 and trusted by over 280 million users, PayPal is here to stay.
Read more about money products and other topics related to sending and receiving money.
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