Most popular money transfer apps

Digital money transfers are the way of the future, but there are so many mobile money platforms to choose from. To help you make a wise decision about which one you should use, here is a quick look at some of the most popular money transfer apps.

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Venmo, owned by PayPal, is mainly designed for friends to send money to each other (which is why the payment limit is initially $299.99 a week until you upgrade your account to get $2,999 a week). It is ideal when you want to split dinner between friends, rent, return small borrowed money, etc. Payments are usually instant, but you will deal with a 3% fee if you use a credit card to pay.


One of the most well-known money transfer apps is PayPal, starting back in 1998. It is free to start an account and it is user friendly, however business owners and shoppers will need to pay fees. Sending money to family members will not cost fees. However, PayPal can freeze an account if needed, and the fees can be fairly high. 

Google Pay

You can use Gmail and Google Pay to send money. Google Pay does not ask for any fees, and it easily integrates with Google products, such as Gmail. However, it can take 24 hours or more to get funds and it is not a common payment method.


If you want a peer-to-peer cash transfer option to send money to your family and friends, then Zelle is a good choice for you. If the sender and recipient both have accounts at participating banks, the sender can transfer cash to the recipient with a same-day transfer. If the recipient does not own a Zelle account, it will take 1-3 business days for the payment to process. Keep in mind you can only connect a single bank account to one Zelle profile as of now.

Cash App

Similar to Venmo, Cash App is a convenient way to split rent, utilities, etc. with your family and friends. This peer-to-peer money transfer app lets you request or send money to another Cash account. A link bank account (usually a debit card) will be used to withdraw the funds, and there are no fees. 

Cash App, like PayPal, offers a wallet feature. Plus, you can use Cash App to buy and sell Bitcoin. However, your maximum transfer amount on Cash App is about $2,500. 


If you want to send big sums of cash overseas, then OFX is the cash transfer app that you need. OFX has a huge list of countries with various currencies that you can send money to, making it ideal for many OFWs. 

Plus, OFX has fun tools like a live exchange rate currency converter to get the best exchange rate on the day you want to transfer cash. However, the minimum transfer is $1,000, and the fees can vary.

Knowing which money transfer app works for you is important to find which one is the most convenient and cheapest option for your needs.