You can easily send money from one person to another using mobile money transfer apps. Peer-to-peer (P2P) money transfers are growing in popularity because they provide a quick, convenient, secure, and cost-effective way to transfer funds across borders. You can complete electronic transactions and payments with a few smartphone taps.
Many people are unaware of how P2P works, what it looks like, or if it is safe to use.
This article describes the best international money transfer apps, how peer-to-peer transfers work, why people use them, and where you can get them.
Money transfer apps provide safe and secure ways to send money overseas. These services can assist customers in making online purchases, paying bills, and managing their finances. Some apps enable users to communicate with friends and family via social media platforms. Money transfer apps frequently offer lower rates than traditional methods of transferring funds.
- Best Overall: PayPal
- Best for International Transfers: WorldRemit
- Best for Low Fees: Cash App
- Best for Shared Bills: Venmo
- The best method for small transfers is Facebook Pay.
- Use Zelle for bank-to-bank transfers.
Best Overall: PayPal
Paypal is the most trusted online payment app in all categories, including shopping, banking, social media, and travel. Customers rated it the best overall app in these categories. Due to its ease of use and fast and secure transactions, PayPal is the simplest way to send money online.
It has numerous features that make it simple to pay friends, shop online, bank online, and stay in touch with family. And because eBay owns PayPal, you can be assured of a secure and dependable transaction. Its numerous features, speed, and convenience solidly place them in the winner’s circle.
- Brand recognition builds instant trust.
- It’s easy to install and easy to use
- Fast and secure
- High transaction fees
- May hold money
- Difficult customer service
PayPal has a wide range of money transfer options, including sending money from your PayPal balance or bank account for free. If you want to pay someone instantly, you can use PayPal Instant Transfer for a fee.
PayPal’s mobile apps allow users to make payments through their phones. Users can send up to 60,000 USD daily, but they’ll only let you spend 10,000 USD per day if you pay in US dollars. You can create an account and log in to your PayPal profile to start. Once logged in, you can start sending invoices and tracking them.
With the PayPal CashCard, a debit card with an annual spending limit of 3K, you can keep the money for up to 30 days in your account. To transfer money from your account, you need to use a credit card (2.9% + fixed fee). To transfer money internationally, you must use a PayPal balance, bank account, or American Express Send Account (5%).
Paypal is an online money transfer system that monitors your transactions 24/7, 7 days a week. It connects with the majority of US banks and credit unions. Some banks, including online only and prepaid bank accounts, cannot provide you with Paypal access. The company uses sophisticated encryption to keep your information safe!
Best for Sending Money Overseas Remitly
Remitly makes sending money easy, safe, and fast. Our app lets you pay bills, buy gift cards, donate, and more. It also allows you to set up recurring payments for rent, utilities, subscriptions, and other expenses. Remitly supports over 50 currencies and doesn’t charge any fees for domestic transfers.
- Economy transfers are usually free, but express transfers start at $4.99. The transfer fee depends on where you’re transferring from and how far away it is – some cities charge extra for express transfers.
- It takes between 3 and 5 business days for an order to be shipped.
- There are also ways to transfer money or order items directly from your bank account. You can use a mobile wallet, pick up Cash at physical stores or have them delivered to your home.
Links to accounts:
- All bank accounts, debit cards, credit cards, and prepaid cards are linked.
- Apple’s new iMessage app allows users to send messages to people outside the United States via Apple’s iMessage service for the first time.
- Secure server with two-factor auth and encrypted data storage
- There is a straightforward fee structure for each type of service.
- Affordable economy transfers (3 to 7 business days)
- There is a high user approval rate for apps in the Google Play Store and Apple App Store.
- You can pay by sending money for cash pickup through an extensive network of banking partners.
- If you use a credit card for Payment, you will be charged a fee for using a credit card.
- Remitly charges 94.99 USD for transfers of 10,000 USD or more.
Best for International Transfers: WorldRemit
The WorldRemit mobile app is one of the simplest ways to send money internationally. App Annie has named it the top mobile money app in the United States. Most transfers are completed within 24 hours, regardless of where the recipient is on the planet. New customers can get their first three transactions free by entering the promo code 3Free.
- Quick deposit options worldwide
- It’s easy to use
- Complex transfer fees
- Limiting large transfers to specific destinations.
The app can send money via cash pickup, bank transfer, mobile money, home delivery, or airtime top-up. In addition to Visa and MasterCard, WorldRemit accepts most prepaid and debit cards. Various payment methods are accepted, including Klarna, Trustly, POLi, Apple Pay, and others. Google Pay service is no longer available.
To send money internationally using WorldRemit, download the app from the iOS or Google Play Store. Then, enter the country where you want to send the money and the amount you wish to transfer. Once you’ve paid for the transaction, your receiver will receive an SMS notification and an email confirmation.
WorldRemit prioritizes security by implementing strict verification procedures.
The extensive network of partners at WorldRemit collaborates with global banks and financial services companies.
With WorldRemits, you can send money up to 9,000 USD in 24 hours and 5,000 USD per transaction for debit, credit, or prepaid cards. You can also send money via Apple Pay for 300 USD per transfer. The app displays all fees and exchange rates before you complete each transaction, allowing you to make an informed decision about your payment options.
If you accidentally send someone money, you should contact World Remit immediately to make sure you can recover it.
Best for Low Fees: Cash App
Cash App is a new app that allows you to send money to anyone, anyplace, for free. And you can invest in stocks, bonds, and cryptocurrencies without paying fees.
The Cash App, owned by Square Inc., was rated the best overall app for transferring money because it has some unique features not found in other money transfer apps. These include investment options and cash boosts.
- There are more than just Payment options available.
- Simple and quick.
- Great for asking people for money.
- You need to depend on someone else to return the money if you send it to the wrong person.
With the Cash App, you can buy and sell Bitcoin directly from your iPhone, transfer funds from your account to a bank account, or store money in an App-Based Wallet.
Open the App Store on your iOS device to use Apple Pay to send money. Tap the “Pay” button at the bottom right corner of the screen to choose between requesting or paying money. Enter the other party’s cash tag, phone number, or email address and tap “send.”
With the Cash App, you can send 250 USD in 7 business days and receive up to an additional 1,000 USD in 31 business days. Remember that the app doesn’t move money immediately; you should get your money within 3-3 weeks. The Cash App accepts both debit and credit cards.
The Cash App doesn’t accept ATM cards, Paypal, or business debit cards. Users can also load money into their accounts via bank transfer, PayPal, Venmo, Apple Pay, Google Wallet, and gift cards. The app encrypts your data during transmission, so hackers won’t be able to steal your information.
Square Cash does not charge any fees for sending payments to an address other than the one listed on its website, and there are no surprises on the list of fees. Unfortunately, sending a payment to an incorrect address does not ensure a quick response; you can only request your money and hope for the best.
No hidden fees or charges are associated with any Square transaction – download the app and start making payments. You can set up recurring transfers, too, so you never miss an essential transfer again. And there are zero fees to use those features without worrying about how much they’ll cost.
Best for Shared Bills: Venmo
Venmo is an app that you may not use often but is useful when you need to split expenses with someone else. There are several ways to pay people directly, so Venmo makes sharing costs easier. You can spend, receive, and transfer Venmo Cash to anyone using the app, including friends and family.
To help you stay organized, Venmo offers helpful charts that show where every dollar goes each month. The app also has a built-in cash machine, so you never have to worry about running out of money.
To pay someone with Venmo, choose how much you want to pay them (either a fixed amount or a percentage) and enter their email address or phone number. Click Send to confirm Payment. You will receive an alert on your device once the transaction is completed.
Venmo allows users to send and receive money and offers an option to park your Cash. Users can add emojis or animated images to their Venmos and interact with each other through Venmo’s chat function. Venmo was awarded the category for Shared Expenses because of this feature.
- It provides a social way to share money.
- Money moves instantly
- You don’t need to add money to your Venmo account to make payments.
- Past security concerns
- Instant cash-outs from your bank account
Venmo was the clear winner in this category because it allows people to quickly and easily send and receive money at no cost. Transferring money with a credit card costs 1.75 USD per transaction, compared to 0.99 for non-refundable money.
To transfer funds from your Venmo or bank accounts to your bank account, you must use Venmo’s Instant Transfer feature. You can create an account at Venmo.com and select “Instant Transfer” when sending money. You can also set up automatic payments through your bank account if you have multiple accounts.
There is a 1.75% fee for using the Venmo Instant Transfer feature, which allows you to send funds from your linked account instantly. A standard bank transfer usually takes one to three business days, but with Venmo, you can send it in under 24 hours.
Venmo should be fully compatible with all banks in America. You can strengthen the privacy of your Venmo account through multi-factor authentication and an additional password. Venmo employs encryption technology to protect user information.
Note: The US Consumer Financial Protection Bureau (CFPB) has issued a civil investigative demand (CID) against Venmo for its debt collection practices. Venmo allows users to set their spending limits, and you can ask for a refund if you accidentally send money to the wrong account. If you haven’t heard back from the recipient after 24 hours, you can contact the Venmo support team.
Best for Small Transfers: Facebook Pay
Facebook has launched a new app that lets you transfer money to friends and family in 70 countries, including India, Nigeria, Pakistan, Bangladesh, Sri Lanka, Thailand, and Turkey.
Facebook Payments is an app that allows you to pay airline tickets and restaurant bills using your phone. The app works similarly to many other apps in that users enter the recipient’s phone numbers and amounts and send the funds within seconds. You’ll be notified if you’re the victim of a scam, and there are no transaction costs.
To start sending money:
- Tap on the Menu icon in the Facebook Pay app.
- Click “Send Money” under “More.”
- Enter the recipient’s name, email address, and the amount you want to send.
- Click “Pay” and then wait for approval from the recipient.
If you want to transfer money from one bank account to another or prefer to pay by text, visit the Paypal website, enter the amount you wish to transfer into the text field, click Send, and follow the prompts. You’re good to go once you’ve been approved by HM Revenue and Customs (HMRC).
In certain countries, you can use Facebook Payments to make seamless and secure transfers via Meta Messenger, WhatsApp Messenger, Portal, and Instagram Direct.
- Great chat feature for communicating
- Available for requesting and transferring money
- You can add multiple people to the request for money.
- It may be unavailable for some payment methods.
- You may be able to purchase some form of insurance coverage for your vehicle.
Facebook Pay was chosen as the winner in this category because it allows you to pay for goods and services with just a few simple steps.
- Message to the recipient.
- Click the money icon, then type the amount you want to transfer.
- Recipients can pay by tapping “Pay” at the bottom of the screen. If they don’t already have an account, Facebook will guide them through the process step-by-step.
Facebook Payments allows users to pay for goods and services through Facebook. Users can choose between paying with a credit card, a bank account, or PayPal. Transactions are limited to 10,000 USD per month. Payment methods include Visa, American Express, Discover, MasterCard, JCB credit cards, and Visa debit cards.
Payments are monitored using fraud detection technology and advanced data storage for payment cards and bank accounts. Notifications will also alert you if Facebook Pay detects suspicious activity. You can also set up a personal pin, a fingerprint, or facial recognition to keep your information safe.
You can ask them to decline any funds sent to them if they haven’t yet set up a bank account. With these platforms, you can communicate with people from anywhere in the world at any time. You can customize your conversations so they’re just for you and no one else.
Make Bank-To-Bank Transfers with Zelle
Zelle is one of the fastest-growing mobile payments apps available. It has over 10 million downloads and lets you transfer funds between accounts quickly and safely.
You can sign up for a bank account using just a phone number or email address by visiting a bank’s website or by downloading their mobile banking app. Some banks offer this service, including Chase, CitiBank, USAA, TD, PNC, Regions, Fifth Third, American Express, Discover, and others.
With Zelle, you can send money internationally for free. It connects directly to your bank account, and you don’t need any special software or apps. Just sign up online or via your mobile device.
- Used widely by many financial institutions.
- If your bank doesn’t support Zelle, you can still use Venmo.
- Swift movement of funds
- Money is federally insured
- Only works with domestic banks
Recipients must have a Zelle bank account, and You can only make payments directly to their Zelle account. Users can also request money with an email or phone number. To accept payments, users click a link sent by Zelle via the app.
The app is available on both iOS and Android devices. Enter the amount to send. Funds are transferred instantly to the recipient’s bank account. For maximum security, Zelle uses authentication and monitoring features to ensure the safety of your money.
If your bank or credit union doesn’t already support Zelle, you can only send 500 USD at a time. You can’t ask for an increase or decrease in the daily send limit.
You can cancel a Zelle payment by going to the Zelle app’s activity tab, selecting the Payment you wish to cancel, and tapping “Cancel this Payment.” You cannot cancel a payment if the recipient hasn’t yet signed up for Zelle.
Compare the Best Money Transfer Apps
When choosing a money transfer app, consider whether you want to use the service for sending international payments, how much Cash you plan to transfer, which types of accounts you’d like to open (checking, savings, etc.), and how many people are going to be involved in the transaction.
The best option for transferring funds between accounts is Venmo. You can also share bills and split payments among friends. You can send money internationally with TransferWise.
The best option for splitting large amounts is PayPal. PayPal is the best method of receiving money internationally.
If you’re looking for an app that offers a wide range of financial services, including Bitcoin investment, then you should consider using Cash App.
However, if you’re looking for a simple money transfer app, you shouldn’t go wrong by choosing PayPal. It offers a variety of payment methods, a proven track record, and valuable business tools, among other things.
How Do Money Transfer Apps Work?
With money transfer apps, you can send money quickly and easily, whether sending money between two people or moving money from one account to another. Some apps keep your funds safe, while others move them from one place to another. Some money transfer apps cater specifically to the consumer.
Is using money transfer apps safe?
Money transfer apps generally offer vital security features to protect your funds. However, you should understand that you might not get your money back if you send money incorrectly. Some providers may refuse to help recover misdirected funds. Only send money to people you know and can trust.
How Long Does It Take to Transfer Money With an App?
Different apps take different amounts of time to transfer money. Make sure you choose an app that meets your needs and timeframe.
Here’s how we chose the best money transfer apps for our list.
We investigated 13 money transfers:
- We tested every app’s rating for usability, transaction speed, compatibility, security, and fee structure.
- We narrowed our search by examining each app’s compatible systems and security features.
- We calculated the minimum and maximum amount of money you could transfer through each app.
- We considered fees and flexibility within each payment method and prioritized those apps with unique features.
Money-sending app FAQs
How much does it cost to send money abroad? There are many ways to move money internationally — some are cheaper than others. Here we look at what you’ll pay to send funds via popular online payment methods.
The most common method used by people sending money overseas is PayPal. You can either use a bank account linked to PayPal (usually free) or link your debit or credit cards directly to PayPal. You won’t incur any fees if you transfer 1,000 USD or less. However, if you’re sending over 10,000 USD, there’s a fee of around 2% plus 30 cents per transaction, regardless of where you live. For example, if you send 25,000 USD to Australia, PayPal charges about 2,500 USD in fees.
If you don’t mind paying extra to get fast international transfers, Western Union offers faster transfers than PayPal and doesn’t charge additional fees. But you’ll need to provide your full name and address, and you’ll receive the money in Cash. A typical transfer takes three to five days, with the fastest option taking just one day. Fees start at 5% of the amount transferred and go up to 10%. To send 5,000 USD to Australia, you’d pay 250 USD in fees.
Other options include TransferWise, WorldRemit, and Xoom. All of these companies allow you to send money to another person without having to give out personal information. Instead, you’ll need to enter the recipient’s phone number, email address, and postal code into the app. While these services aren’t relatively as quick as PayPal or Western Union, they’re often cheaper.
For example, TransferWise charges 0.8% + 0.30 per transaction, compared to PayPal’s 2% + 30 cents per transaction. You can send anywhere from 100 USD to 20,000 USD via TransferWise, and the average transfer is 3,000 USD. To send 5,500 USD to Australia, you’d pay 150 USD in fees.
WorldRemit charges 1.9%, while Xoom charges 1.75% + 0.35 per transaction. You can transfer anywhere from 100 USD to almost 50,000 USD; the average transfer size is 7,000 USD. Sending 15,000 USD to Australia would cost you 300 USD.
Are money transfer apps safe?
Money transfer apps are arguably safer than traditional forms of transferring funds such as checks or Cash. They are easier to use, less expensive, faster, and more convenient. But do they provide enough security to protect your personal information?
The good news is that many reputable companies offer money transfers online. Most apps are free to download and sign up for; however, some charge fees to send money. You’ll want to read reviews and compare features to find the best fit for your needs.
When choosing a money transfer app, make sure to take into consideration these key factors:
1. What type of transaction does the app support?
2. How much control over the recipient does the app give you?
3. Does the app encrypt sensitive data during transmission?
4. Is the app HIPAA compliant?
Select compared dozens of popular money-transfer apps to find the best ones for transferring money quickly and securely. We selected only those apps that met the following criteria:
- Pricing: All apps included on this list offer low-cost (or even free) standard checking account transactions and only charge higher fees for linking to credit cards as payment methods and requesting express transfers.
- Features: Apps must include at least one feature allowing customers to send funds via email, text, phone call, or online chat. They must also allow customers to link accounts, request transfers, and provide access to customer support.
- Security: Apps must include at minimum two security features, such as two-step verification and fraud prevention.
- User Reviews and Ratings: Apps must have at least 1,000 total reviews across both Apple’s App Store and Google Play. Additionally, we looked specifically for apps with a rating above four out of five stars on each store.
- Availability: Apps must be available on both iOS and Android devices.
After reviewing hundreds of different applications, we found 12 that fit the bill. While there are many more great options, these are the best overall money-transfer apps available today.