The best apps for sending money

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Money transfer apps have become increasingly popular, and for good reason: They’ve simplified everything from splitting a tab with friends to paying vendors at places like farmers markets.

The proliferation of these apps make it hard to know which one is the best to use. Here's our list of the best apps for sending money.


Venmo was one one of the first peer-to-peer payment options to arrive on the scene. It's now one of the most well-known money transfer apps.

“Venmo is essentially the social network of cash transfer apps. Unless you choose to make your payment private, it will show up on a public newsfeed along with a description of what the payment is for,” said Matt Dworetsky, president of Dworetsky Financial.

Venmo has no monthly or annual fees and allows users to choose between two transfer types: A free standard transfer taking one to three business days or an instant transfer that comes with a fee of 1%.

Learn more about Venmo and the digitization of money here.


Zelle is another free, peer-to-peer money transfer app. It's owned by a group of big banks, making it easy to instantly transfer money from one bank account to another, said Dworetsy.

“Zelle is known for larger dollar amount transfers,” he said. “Depending on the bank, you’re allowed to transfer up to $2,000 to $2,500 in one day between accounts.”

Zelle can often be found within your mobile banking app, meaning there's no download necessary. If your bank doesn't offer the app, it can be downloaded separately.

In order to send money with Zelle, you’ll need the recipient’s preferred email address or mobile number. If the person you’re transferring money to is already enrolled with Zelle, the money goes into their bank account typically within minutes.

Learn more about transferring money from one bank to another.

Cash App

Cash App is an app in the money transfer space that’s growing considerably, said Greg Mahnken, an industry analyst for Credit Card Insider.

“Cash App is currently the number one finance app in the Apple app store,” he said.

One of the benefits of the Cash App is there’s no social feed, so you won’t be sharing your purchases with the world. Sending money via the app is free.


TransferWise is a good option if you’re looking to transfer money internationally.

The app was created to reduce international money transfer costs. Transfers using this app are based on exchange rates. Some actions, like adding money to your account, involve a small fee. But most transactions are free, including setting up an account, holding balances in your account and receiving money from certain countries.

Traveling internationally? Here are other ways to send money.

Image: Norwood Themes