The Best Money Transfer Apps (2024)

Best Money Transfer Apps

Best Money Transfer Apps

The World Remit app won this category for having no hidden costs and the flexibility to send to over 130 countries.

WorldRemit can send money to recipients within minutes. Most transfers complete within 24 hours wherever recipients live in the world. When you introduce a friend to WorldRemit, you both get a voucher to use on your next transfer. Also, first-time customers can use the promo code 3Free to make their first three transfers with no fees.

The app gives you various ways to send money—through cash pickup, bank transfer, mobile money, home delivery, and airtime top-up, and that's why it landed in our top category.

WorldRemit accepts most types of debit, credit, and prepaid cards issued by Visa or Mastercard. WorldRemit also accepts payment from Klarna, Trustly, POLi, Apple Pay, and more. It no longer accepts Google Pay.

To send money, download the iOS or Android version of the World Remit app. Select the country and amount you want to send and enter recipient details and bank information. Once you pay for the transaction, your recipient will find out by SMS and email when they can access their money.

WorldRemit, approved by the Financial Conduct Authority (FCA), puts a high priority on security by implementing strict verification procedures. The company employs teams to monitor accounts for unusual activity.

WorldRemit's large network of local partners works with worldwide banks and financial institutions. You can send a maximum of $9,000 in 24 hours and $5,000 per transaction for debit, credit, or prepaid cards. You can submit a maximum of $9,000 in Apple Pay payments within 24 hours and send a maximum of $300 per transaction. WorldRemit lists all fees and exchange rates before you execute each transaction.

WorldRemit also offers a wallet for use in a limited number of countries, but any WorldRemit customer can send money to a WorldRemit Wallet.

If you accidentally send money to the wrong person, WorldRemit can sometimes recall the mobile money or bank transfer transaction. In this situation, you want to contact WorldRemit as soon as possible.

The app's robust offerings, mixed with speed and convenience and PayPal's brand name awareness, make it a good choice.

PayPal offers a wide range of versatile, flexible, secure, and easy-to-use money transfer tools. You can transfer money for free from a PayPal balance, bank account, or Amex Send account. You can also use PayPal Instant Transfer and transfer funds immediately (for a fee).

PayPal offers versions of its app for iOS, Android, and Windows. It takes just minutes to download and start transferring money. You can share a PayPal.Me link for a quick and secure payment option. PayPal's invoice creation feature also allows you to customize and track every invoice you send.

You can send up to $60,000, but PayPal may limit the transaction to $10,000, depending on the currency you use.

If you accidentally send money to the wrong person, you can reach out to the contact and ask for a refund. If the individual doesn't respond, you can open a dispute in PayPal's Resolution Center.

You can tap into your PayPal balance to keep money in your account with the PayPal Cash Card, a debit card with a daily spending limit of $3,000 and a daily cash ATM withdrawal limit of $400 with a limit of 30 transactions per day.

Users pay 2.90% plus a fixed fee to send money via a credit card. PayPal charges 5.0% to send international personal transactions using a PayPal balance, bank account, or through an Amex Send account.

PayPal keeps your information secure using sophisticated encryption. The company monitors transactions 24/7 and offers dispute resolution if you have a problem with a transaction.

PayPal limits transfers to U.S. banks only and can connect with most U.S. banks and credit unions. Unfortunately, some banks, including online-only or prepaid bank accounts, can't give you access to PayPal.

Cash App, owned by Square Inc., scored the highest in the low fees category because it allows users to send funds instantly via mobile app for free. Cash App stands out for its simplicity (you either pay or get paid), ease of use, and minimal fees.

Cash App also offers unique options not common in other money transfer apps, such as investment options, getting special savings with “cash boosts,” and buying and selling Bitcoin.

Cash App won because of its low fees and flexibility—including the ability to buy and sell Bitcoin straight from your Cash App balance.

You can also transfer funds to a bank account from your Cash App account or store money in your Cash App account. Tap the "Balance" tab on the app home screen, click "Cash out," enter the amount and indicate whether you want to request money or pay money. To send a payment, enter the other person's $Cashtag, phone number, or email address and tap "pay."

Cash App lets you send $250 in any 7-day period and receive up to $1,000 instantly within any 30-day period. However, you can hurdle over these limits by verifying your identity. Note: the app doesn't transfer money immediately—you should have your money within one to three business days.

Cash App supports debit and credit cards from Visa, MasterCard, American Express, and Discover. The app supports most government-enabled prepaid cards but users cannot deposit to these cards. Cash App does not support ATM cards, Paypal, and business debit cards at this time.

Cash App employs up-to-date security encryption and fraud detection technology. Cash App features PCI Data Security Standard (PCI-DSS) Level 1 compliance.

Unfortunately, sending a payment to the wrong person doesn't guarantee a swift return; you can only request the money and rely on that person's honesty to get your funds returned.

Venmo offers the best of both worlds—it offers a quick and easy way to send and receive money and offers a potential "parking place" for your cash. You can spend, send, or transfer Venmo money to your bank account. Because of these reasons, it won the category for shared expenses.

You can even make the experience more interactive by adding emojis or animated stickers with your transactions.

Venmo (which is owned by PayPal) conquered this category because it allows for quick and easy money exchange between individuals. You can send or receive money for free through the peer-to-peer payment app, though Venmo charges 1.75% of the transfer total to send money via credit card.

Venmo also charges a 1.75% fee ($0.25 minimum and $25 maximum) for instant cash-out transfers to your bank account. You can keep money in Venmo or your bank account.

You can send money using your iOS- or Android-based smartphone by choosing a sign-up method and creating a secure password between eight and 20 characters long. Venmo asks you to verify your phone number, email address, and bank account.

The standard bank transfer through the ACH network to a verified checking account typically takes one to three business days to arrive. You can also choose an instant transfer to a bank account or debit card (incurs a 1.75% fee) which arrives within 30 minutes. Venmo should work with all U.S.-based banks.

Venmo uses encryption to keep information secure. You can add additional layers of security to your Venmo account by adding multi-factor authentication and a PIN. Note: The Consumer Financial Protection Bureau raised red flags about Venmo's "debt-collection practices" through a Civil Investigative Demand in January 2021.

Venmo imposes a $299.99 spending limit, but users can submit information about their identity to increase the weekly rolling limit to $60,000.

If you accidentally send money to the wrong person, you can request a return for the money you sent by mistake. If you don’t hear back or need help sending a charge request, you can contact Venmo's support team. Venmo offers no recovery guarantees.

Read our full Venmo Review.

Facebook Pay took the award for its ease of transferring small amounts of money through a familiar platform. You can use Facebook Pay to make seamless and secure payments in select countries through Meta Messenger, WhatsApp, Portal, and Instagram.

Facebook Pay won over other contenders for this category because you can easily send money or donate to causes you support with simple steps:

1. Message the recipient.
2. Tap the money icon, then enter the amount you want to send.
3. Recipients can then tap "pay." Facebook Pay will lead recipients through the process with specific instructions if they don't have an account.

Facebook Pay does not specify transaction limits, but Messenger limits transactions to $10,000 depending on what type of payment is used. Users can fund payments using a Visa or MasterCard debit card. PayPal accounts are also accepted. U.S. citizens 18 or older may send money to trusted friends and family.

The firm monitors payments using anti-fraud technology and advanced data storage and encryption for payment card and bank account details. Notifications also send you alerts if Facebook Pay detects unusual activity. You can also use a personalized Meta Pay PIN or a fingerprint or face ID to keep your information secure.

Once you add a payment method, your money transfers immediately. However, it may take your payment provider up to five business days to post the money to your account.

You can personalize your interactions as much as you want because the platforms offer instant messaging, audio, video, group chats, and more.

If you accidentally send money to an unintended recipient, you can ask them to decline the money if they haven't yet added a debit card to their account.

For bank-to-bank transfers, Zelle won because of its quick access and wide availability at most banks and credit unions. Users can head to a bank's website or directly to the mobile app to register with just an email address or phone number.

No other app offers such an easy bank-to-bank process. Zelle can transfer money to other Zelle users through the easy-to-use app. Users can send or request money with an email address or phone number. Recipients must have a Zelle account to send or receive money. Zelle sends a text or email and a link to accept payment.

You can find the free app through the App Store or on Google Play. Enter the amount you want to send. The money goes directly into the recipient's bank account, typically in minutes.

The Zelle app utilizes authentication and monitoring features for top security or uses your bank or credit union's mobile app.

If your bank or credit union does not yet offer Zelle, you can only send up to $500. You cannot request to increase or decrease your send limit.

You should know and trust the people you send money to because you can't cancel a payment through Zelle if the recipient already has a Zelle account. However, you can cancel a payment if the recipient hasn't enrolled in Zelle. Go to your activity page on the Zelle app, choose the payment you want to cancel, and tap "cancel this payment.”

Read our full Zelle Review.