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Have you been to dinner with a friend and the restaurant didn’t split the bill? If you don’t have the cash to pay your bill online, you may ask your friend to pay our bill which can be embarrassing? Now in this digitalization where everything is at your fingertips so does online payment.
Earlier before digitalization, would we have imagined going out to dinner and going shopping without enough money in our wallet? Or make an international transfer without waiting for hours? But today it will be one of our last concerns. Thanks to cashless transactions which have made us carefree, you can now transfer payment for online classes as well as pay your shopping bills online.
Online money transfer makes financial transactions easy, simple and convenient. As the world moves towards a digital future, a cashless economy will become unavoidable.
If you want to buy something or send a payment for online classes all can be done just a click away. Every day, millions of people around the world withdraw their cash from the atm just to avoid any mishap. Whether you’re an independent contractor, a friend who wants to split a check, or a family member who’s considering splitting a household now you can pay online.
The money transfer app, also known as a peer-to-peer (P2P) app, allows you to quickly and safely transfer cash from one person to another. Payment is easy and you can even use your digital wallet to link your credit card or bank account. With just a few taps on your mobile device, you can make electronic transactions and make payments.
Are you one of those students who want to make payments for online classes but don’t know how to make online transactions? If yes, don’t need to worry about that we got you covered. The article below will help you to find out the 5 most secure and famous apps you can use for online payments.
What Are Money Transfer Apps?
Many of you don’t know what money transferring apps are. A money transfer app is a mobile application that allows people to send money. Whether you’re sharing an invoice with a friend or paying your shopping bills, the online money transfer can be done through a mobile app.
Moreover, it helps you to transfer your money easily, fast, and always accessible. You might be wondering if the app is safe and secure or not? But thanks to this digitalization, for offering such secure, convenient, and transparent online money transfer apps. People all over the world are incorporating money transfer apps into their daily lives as the apps have made their lives easy.
Whether you’re writing a check, depositing, or withdrawing money, the bank has helped you send money from the beginning. You might remember the time when you had to wait hours in ques for depositing or withdrawing the cash from the bank? Despite the fact, during the initial period, when money transfers were going digital, banks have been slow in accepting this change.
This has spawned several third-party money transfer apps. By linking your bank account to these apps, you can send money anywhere just at the push of a button. Banks are also entering the game today, whereas, the market is full of money transfer apps.
If you search for “the best money transfer app” online you’ll see over 1 million results. But finding the best money transfer app is the wrong view. What you should ask instead is what is the best money transfer app for you? All you need to focus on while selecting the app is cost and how secure it is.
You might find out Some good and some bad apps. Make sure to check the app properly before entering your bank’s details.
PayPal
You might have heard from your teacher about transferring payment for online classes through PayPal? PayPal is one of the most famous and well-known online apps through which online payments are made.
Paypal is one of the oldest online money transfer apps available in the world and is a reliable financial service. You might be unaware of the fact that PayPal is known for being the best digital wallet.
Earlier, PayPal only worked for eBay transactions but now you can send money to your contacts using your bank account, PayPal cash, or a credit/debit card. PayPal provides the ability to transfer money to and from any bank account in the United States and many foreign accounts.
Paypal charges a small fee for credit/debit card transfers. Whereas, there is no charge to transfer money from your PayPal balance or bank account balance to family and friends.
Are you looking for some app to make international transactions? If yes, PayPal is the right app. You can also use this for international transfers as it is one of the most reliable and secure apps. PayPal Business can be used to trade your business as well.
Google Pay
Are you tight on your budget and looking for a free app to transfer online payments? If yes, Google Pay is the right option for you. This is because you can transfer your money online without any transaction fees.
You can use Google Pay to send money to your friends, family, and even people who aren’t on your contact list. It has provisions for replenishment, invoice payment, and also supports e-commerce transactions.
It is a product of Google which is one of the most reliable having top-notch security and protection against hacking and fraud. Setting up the app is also easy as you can find this app on both the Play Store and the App Store.
Venmo
Venmo is a US-based app which is owned by PayPal, but Venmo is a very different app than PayPal. Venmo is an app designed primarily for sending money to friends with a built-in social dimension. But unlike PayPal, which focuses on business contacts, Venmo focuses on peer-to-peer transfers.
If you are looking for an app just to transfer money to your friends then Venom is all you want. This is because the app focuses on youngsters’ payments who make transitions only between their friends.
You can also personalize payments with emojis, stickers, or cute notes with no hidden charges.
With over 60 million people using the Venmo app, it has proven to be a quick and easy solution for sending money. You can also log in and access your account on a traditional computer, but you can only send money from the app or mobile browser.
Western Union
You might have seen Western Union in the corner of your street? Western Union is the most popular money transfer service in the world, with more than 200 countries and regions. It has been trusted by more than 150 million customers and has been trading for 145 years.
If you are looking for a reliable and trustworthy online money transferring app? Western Union is the one. It is a well-established service that allows you to send money quickly and easily.
It has become more convenient and easier to use. All you have to do is enter your Touch ID and scan your credit/debit cards rather than entering all your card information
Zelle
You might be wondering what makes Zelle the best money transfer app? Zelle provides the easiest way to send money directly from your bank. This is because it is affiliated with several major banks and anyone with an account at one of these participating banks can use Zelle to make same-day transfers.
Once you have downloaded the app you can transfer your payments online within a few minutes and with complete security. Moreover, in the Zelle app sending and receiving is free.
Conclusion
This concludes our guide to choosing a money transfer app that’s right for your needs. The article above will help you to find the best app that suits you and your needs. Make sure to memorize the points mentioned above while selecting the app as per your need.
Author Bio:
James Cordon has an ongoing affair with the words that capture readers’ attention. His passion for writing dates back to his pre-blogging days. He loves to share his thoughts related to education technology and business.
