When you are stuck at home, and not even thinking of going to the ATM. How do you transfer money to others? Your friends, family, or the contractors that did your home improvements? Not all of them like to endorse a check at bank branches. Let’s talk about 6 money transfer apps for 2021
Fewer people are carrying cash in their wallets every day. It is just much more convenient to transfer money and pay for goods using a simple app on your smartphone.
Read Also – Best apps for international money transfer.
When it comes to transferring money, there is not an app around with more users than PayPal.
This service can be integrated with your personal account and any business accounts you may have.
Sending money directly to friends is completely free on PayPal. Business accounts will need to pay a small fee when moving money around.
The great thing about PayPal is that virtually every online retailer accepts payment from them.
Instead of giving your banking information to the retailer, you just sign in to your PayPal account to pay for your items.
Venmo is completely changing the money transfer space by making it a much more social experience.
You can instantly connect with all of your friends that use the app.
Just click on their profile and you can send them some money in a matter of seconds.
This makes Venmo ideal for social gatherings.
Instead of splitting a check at the restaurant, you can just send your portion of the bill to a friend on Venmo.
Sending money between friends is absolutely free as long as you do not fund the transfer with a credit card.
Cash App offers a very similar experience as Venmo.
All money transfers in and out of your account are handled directly on the app.
Sending money to someone only takes a few seconds, but withdrawing money to your bank account can take a few days.
The only thing that holds Cash App back is that it can be a little harder to find your friends when transferring money.
If you are looking for a money transfer app with the most options, then Western Union is the perfect choice for you.
Money can be transferred directly to a bank account, mobile wallet, or one of Western Union’s physical locations.
Since Western Union has physical locations around the world, you can send money to virtually anyone when using the app.
Money should be received within one or two days even if you are sending it to a foreign country halfway across the world.
If you do not like the idea of creating a secondary account to handle your money transfers, then you may be interested in Zelle.
This app lets you send money directly between bank accounts.
Zelle is connected with nearly 1,000 different banks around the world, so transferring money should be a breeze.
The great thing about Zelle is that any money sent to you will be in your account within minutes. No need to wait for three days for the money to hit your bank.
Saying that I recently got a notice that my email id is disconnected from Zelle as I didn’t receive any money in the last 18 months. So this is a good security feature, I think.
If you have an Android smartphone or Google email, then you can start sending money with Google Pay right now.
The in-app wallet lets you instantly send money to friends for no charge.
Google Pay also comes in handy because it is accepted at many retailers.
While you can always transfer your balance to your bank account, you can also use it at your favorite stores. Just use your smartphone’s contactless pay option and the money will come directly out of your Google
Pay account. If your in-app wallet does not have enough to cover the cost, then the rest will come from your linked bank account.
Money transferring is extremely safe and secure, so there is no reason to avoid using these popular apps.
After one or two transfers, you will never swap cash with your friends ever again.