Money transfer apps are doomed! You can use these apps to transfer money from one person to another—and you can do it all from home! Cool right?
Making electronic transfers with these apps is as easy as baking a cake. Here’s how to choose the best baker!
How Do Money Transfer Apps Work?
The top money transfer apps have great ratings. No hidden charges and secure in just a few taps!
While these apps cater to all consumer needs, they have a lot more. Unlike banks, these apps let you move your money anytime, anywhere!
Top 10 Money Transfer Apps
1. Wise
Overview
Wise is good if you need a money transfer app. In short, it takes the hassle out of your life. Wise gives you a way to send money. Fees are minimal and transparent so you can move your money.
Cost
No hidden charges with Wise. While using the app you can see the transaction cost. So you’re always in control of your transaction.
Transfer Time
Wise says they have the fastest transfers to their customers.
Security
The Wise app connects to multiple banks for secure transactions. They do regular security audits and assessments to find vulnerabilities. They fix these vulnerabilities proactively and take action to mitigate risks.
2. Western Union
Overview
Western Union has a feature packed mobile app that makes transfers global. Just like PayPal and other apps, Western Union’s UX is simple.
Users just need to scan their cards to pay. They can also drop off the cash at their nearest branch to transfer money to their loved ones across the world.
The app is free to use and users can choose how to receive money. These options are cash pickup, mobile money and bank transfer.
Cost
Good things come at a cost. Western Union’s money transfer services start at USD 10. They have a high exchange markup of around 7%.
But they have many loyalty programs for customers worldwide.
Transfer Time
Western Union is good for those who want to send or receive money fast. Western Union’s app’s security and processors are fast. They will transfer your big amounts hassle free.
Features
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Multiple Currency Support
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QR Code Scanning
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User Authentication
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Swift Payments
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Card Integration
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Loyalty Programs
Security
With Western Union you can send your money securely and with confidence. knowing that encryption tools and security teams will protect your money.
3. TangoPay
Overview
TangoPay allows you to send money to 70+ countries worldwide through various ways. These ways are cash pickup, bank transfer and mobile money. And that’s why it’s at the top.
TangoPay accepts all types of debit cards and credit cards issued by Mastercard or Visa. So it’s very easy for Canada residents to send money to their loved ones abroad.
If you want to send money to 70+ countries worldwide, download the iOS or Android version of the TangoPay app. Choose the destination country and amount you want to transfer. Then add the recipient details correctly. Track your transaction as your money moves from your wallet to your family’s phone!
Approved by Financial Conduct Authority, TangoPay’s top priority is to keep your money safe. They have implemented security measures to ensure your money moves securely!
Cost
TangoPay will inform you of the fees in advance. And here’s the good part – your first three months with TangoPay are fee-free!
So no matter where your destination country is, your transaction will be fee-free.
Transfer Time
Money knows no boundaries and no limits with TangoPay. You can send maximum transfers to 70+ countries worldwide. To prevent fraud and money laundering, TangoPay verifies high value transactions.
Features
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User Friendly Interface
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Secure Authentication
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Multiple Currency Support
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Best Exchange Rates
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24/7 Customer Support
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First Three Months Are Fee-Free
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Instant Transfers
Security Measures
Approved by Financial Conduct Authority, TangoPay’s top priority is to keep your money safe. TangoPay will keep you safe with user authentication and encryption tools. These security measures will give you 100% protection and your money will move safely!
4. WorldRemit
Overview
WorldRemit operates in 130+ countries and is a FinTech company. WorldRemit offers fast money transfers with good exchange rates. They accept multiple payment methods. Transfer limits are as low as USD 5,000.
You can use multiple payment methods to send money with WorldRemit. These are debit cards, credit cards, bank transfer and Apple Pay.
But WorldRemit’s mobile app is still in development. However, user feedback says that the ongoing updates have made the money transfer process faster.
Cost:
WorldRemit has very low transfer fees. But it depends on the payment method and the amount you are sending. Generally transfer fees start from USD 1.99.
Also their exchange rate margins are as low as 0.5%. So you can send money to any part of the world without worrying about the charges.
Transfer Time
They say 90% of WorldRemit’s transactions are instant. Users also confirm this.
Security Measures
Well WorldRemit doesn’t offer you 100% transparency. The app is still in development. So you can’t access the full app. This may compromise your security while sending money.
5. Venmo
Overview
Venmo can be your digital wallet. Not only it allows you to send money worldwide but also to park your cash.
With Venmo app you can transfer or spend money to any bank account in the US. And that’s where you get limited! Venmo only allows you to send money to the US and some parts of Puerto Rico, Guam and the US Virgin Islands).
You can send money to the US using Venmo’s Android or iOS app. Sign up and create a password to start moving your money. They use ACH network to transfer your funds. Your money will move fast and safe to your loved one’s account.
Cost
With low transfer fees, Venmo charges 1.75% of your total transaction. So your transfer fee depends on the payment method and the amount you are sending.
Transfer Time
You can transfer your money to any bank account in 30 minutes with Venmo. But you may need to pay a fee to process the transaction.
Security Measures
Venmo app uses multiple encryption tools to keep your personal info safe. They also give you an option to verify your account via PIN or multi-factor authentication. This adds to the security of your transactions.
6. Zelle
Overview
If you’re looking for a bank-to-bank money transfer, Zelle is a good option. With Zelle users can send money using an email address or phone number. But the user needs to set up a profile on Zelle first and verify their details.
You can download Zelle’s iOS app or Android app to get started. Just enter the amount you want to send and the recipient’s details and you’re done! The money will go to the recipient’s bank account!
Cost
Zelle doesn’t charge any fee to send money worldwide. So you don’t have to worry about the fees when sending with Zelle.
Transfer Time
Zelle is available worldwide and accessible to users everywhere. Users from any location sign up on their bank’s website or download the bank’s app to start.
Once you sign up Zelle will move your money to your loved one’s account in minutes. Just a few.
Security Measures
Zelle app has authentication and monitoring features for user security.
7. Cash App
Overview
Cash App (formerly Square Inc.) is known for no transfer fees worldwide. Users worldwide can use this app to send money in 2 to 3 business days.
Cash App can help you move money easy and cheap. Whether you’re receiving or sending payments, Cash App is there for you.
Cost
Cash App is a top player in the money transfer industry. They have no transaction fees so money transfer is easy for users.
Transfer Time
Cash App takes 1-3 days to transfer your money. But for instant transfer Cash App charges 0.5% to 1.75% fee to get started.
Security Measures
Cash App has multiple encryption and fraud detection tools. These tools keep users’ funds and info safe.
8. Xoom
Overview
Xoom is part of its parent company, Paypal. Xoom services in over 66 countries. Users can send money globally with Xoom’s app.
The new app has three main features: mobile money, cash pickups and mobile top-ups. All of these features are latest and user friendly so your transfers are easier.
Cost
Xoom charges $5.99 for all transactions above $999. But the fee may vary per transaction.
Transfer Time
With Xoom it takes a few minutes to a few days to move your money from one place to another. Your transfer time may be affected by some factors. These factors are banking hours and destination country.
Security Measures
Xoom has encryption protocols to secure data transmission from sender to receiver. So your data is safe from unauthorized access.
9. Global66
Overview
Global66 is known for being the fastest money transfer app. But they only services in Chile, Peru, Brazil, Argentina and Mexico. Services are limited to these countries. But their money transfer services is global.
Global66 focuses on speed, cost and reliability. That’s why they are trusted.
Domestic transfers with Global66 is free! But when you transfer money internationally you may need to pay a small fee to process it.
Transfer Time
With Global 66 you can get your money moved in a few minutes while you’re at home.
Security Measures
Global66 has multiple authentication methods like passwords, biometrics and one-time codes. So your funds are safe always.
10. CurrencyFair
Overview
For all of you who are looking for a secure way to send money worldwide, CurrencyFair is an option. CurrencyFair services business individuals making their transactions easier.
With CurrencyFair you can have same day money transfer in 150 countries. So with CurrencyFair you can move your money anytime, anywhere!
Cost
CurrencyFair shows you everything before you transfer money through their app. When you transfer money through their app you’ll see the fee before the transaction. So before you transfer you’ll know everything.
Transfer Time
CurrencyFair has instant money transfer. This means your funds will reach the destination account in minutes.
Security Measures
CurrencyFair monitors transactions 24/7 to detect anomalies and irregularities. This way all signaled fraudulent activities are avoided.
Conclusion
Top money transfer apps has changed the way we move money. These apps has power in a world of convenience and security. TangoPay is seamless. Wise has global reach. These platforms makes handling money easy.
Each app serves different needs, speed, affordability or user friendly interface. But the choice is yours! Just make sure before you choose an app you do your research.
The more you research the more you will land on an app that has it all. Good luck!
FAQs
Which is the most secure money transfer app?
If you’re looking for a secure money transfer app, TangoPay is on top. Their strict security measures and user friendly experience makes them a secure money transfer app. With their app you can send money to 70+ countries around the world in a click.
Which apps have instant money transfer?
There are many mobile transfer apps that allows you to send funds worldwide. Some of the best instant money transfer apps are Western Union, Wise, TangoPay, CashApp, WorldRemit and Zelle. But users should remember that the speed of the money transfer can be affected by many factors like banking hours, type of payment, accuracy of details etc.
Who is the best money transfer?
Many apps can track your money transfer in terms of reliability, security and user friendly. Apps like Venmo, Xoom, TangoPay and CurrencyFair has strict measures and fast processors to ensure your payment reaches the destination wallet in the shortest and easiest way.
Are money transfer apps safe?
Money transfer apps prioritizes users’ financial information. The mobile apps has encryption and authentication protocols to secure transactions. But users should also practice good habits like using strong passwords and not sharing sensitive info for added security.
Which money transfer apps are used in Canada ?
In Canada, TangoPay is one of the most used money transfer apps. Because of its reliability, fast transfer and high security standards. If you’re sending money from UK to 70+ countries around the world, TangoPay is the way to go.
