At some point, most individuals need to transfer money to another person, whether you send a couple of bucks to a friend who needs help or gives a family member money while studying abroad.
From paying bills to splitting bar tabs, money-transfer apps have made it easier than ever to do anything. In recent years, these apps have become increasingly popular, and there are several choices available for you.
Here are the Top 7 Best Money transfer apps in 2020.
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When you think of money transfers, Western Union is undoubtedly one of the first names that come to mind, so it should be of little surprise that the business has mocked up a very convenient app to carry your smartphone to its global operation. It is available on Android and iOS.
Just like compatibility with Apple Pay, the option of paying directly from your bank account, via card, or in cash adds to the convenience factor. Your transfer can also be monitored through the app- simply enter your tracking number (MTCN) to see when it has been processed, received, and completed.
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Venmo is operated by PayPal, but Venmo is a very different app than PayPal. Just like compatibility with Apple Pay, the option of paying directly from your bank account, via card, or in cash adds to the convenience factor.
Furthermore, your transfer can also be monitored through the app- simply enter your tracking number (MTCN) to see when it has been processed, received, and completed.
Formerly Square Cash, CashApp does quite the same thing as Venmo, but without the social characteristics. You can send money to someone with a cash account or request it from them, and funds are received at no cost from a connected bank account via a debit card.
Cash has a wallet feature, such as PayPal, or the ability to transfer money without keeping funds in your digital wallet from a linked account. Recently, Square added Bitcoin to the Cash app, which gives it a special characteristic compared to other payment applications.
TransferWise is fully supervised by the Financial Conduct Authority and verifies its users against fraud and money laundering, just as major banks and financial institutions do.
They have a smaller catalog of countries across the globe and a significantly longer transition period of one to three days.
Furthermore, their distinct advantage is the absence of minimum transfers that allow you, if necessary, to submit smaller amounts of money.
For peer-to-peer money transfers, Zelle is yet another free app that is useful. You and everyone you send to, however, must have a bank account at a participating U.S. bank, which may make the software rather restrictive.
It may also have a longer loading time for transfers than other peer-to-peer money transfer applications. The transaction can take one to three business days to complete if the transfer recipient does not have a Zelle account.
Google offers a service that can do almost anything you can do online, and sending money is no exception. In terms of its alignment with other Google products, including Gmail, Google Pay is special.
Using Google Pay and Gmail, you can send money via e-mail to anyone. In essence, if you have a Google account, you have already signed up for Google Pay. You can also hire a personal assistant for fast transactions on business processes.
Without mentioning Paypal, you can never finish the best money transfer app list. Its tight security measures, for example, make you enter your password every time you open the app, further emphasizes the company heritage. While this might sound like a slight inconvenience, it is certainly a wise security measure.
PayPal, with a past dating back to 1998, is one of the pioneers of payment firms. In the industry, the service is a proven giant and is easy and convenient to use. Users also have the option of asking friends, family, and other contacts for cash. Make sure you recharge your Ufone for a smoother transaction.
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Transfer apps offer the ability to use various currencies to send money around the world in a way that is simple, convenient, and hassle-free.
Typically, such transfers entail a cost, so make sure that you check the fees, but typically the best service providers give decent rates worth the convenience.