The PayPal Here app is a perfect example of how companies like PayPal are expanding their reach and creating more opportunities for customers. As a result, customers have a wide variety of mobile money transfer apps from which to choose. Electronic money-transfers between friends and family members have become common in the present day because they are easy and free to use. Electronic transfers are also becoming more popular among businesses. They cut down on paper usage and often enter your bank more quickly, as checks may take longer for banks to process.
If you are looking for the best money sending apps, then there are several key features to keep in mind including security, how easy it is to use the app and whether the app offers bonus perks. Apps that have all these features make it easier than ever to pay back your friends and family. You no longer need to run to an ATM for cash or wait until a check clears at the bank. Learn more about the best money transfer apps below.
About the PayPal Here App
The PayPal Here app is designed for businesses that want to take payments from customers without using a stationary register. It is free to download and allows businesses to accept multiple forms of payment with a card reader.
The card reader is compatible with the app, mobile-friendly and simple to set up. As a result, you may take your business on the go or use the card reader and the app in your store. Usually, you must buy the chip and swipe reader separately.
PayPal Here is considered one of the best money sending app choices because it is user-friendly and does not have any hidden fees. To use PayPal Here:
- Download the PayPal Here app for free onto your smartphone or another touch screen device.
- Create a profile for your business.
- Connect the card reader to your phone or touch screen device. This may be done through the audio jack or charging port.
- Test the card reader with a small transaction from your credit or debit card. Otherwise, you are ready to accept forms of payment from your customers.
You may choose to enhance your mobile money app by adding other equipment to your card reader, such as a point-of-sale stand or a receipt printer. A point-of-sale stand is a square stand for an iPad or large touch screen device. It has a swiveling base, which allows both you and your customers to interact with the screen. The stand may be placed on a counter or a table for easy access.
A receipt printer may be attached to the point-of-sale stand and connected to your touch screen device. This will give your business a professional edge and simplify the process of refunds. If you do not need a card reader app for business, then the PayPal online money transfer app is an excellent tool for everyday transactions between family and friends.
How to Use Cash App
Cash app is another money transfer app that offers an easy sign-up process and zero added fees. The app is owned by Square, a company that aims to make payment and transactions easier for businesses and individuals.
This free money transfer app has a few unique features that set it apart from other electronic transfer apps. For example, you may buy and sell Bitcoin, a form of cryptocurrency that does not use a central bank.
The cash app download is easy and quick. Once you download the app to your smartphone:
- Open the app and set up an account. You will be prompted to enter your phone number or email address.
- Confirm your account with the confirmation code sent either by text message or email.
- Submit your debit card information and link your bank to the app.
- Create a username, which friends will enter in a search bar when they want to send you money.
- Begin using the app to send and receive money.
Remember that it takes between one and three business days for the money you receive to enter your bank account. There are additional instructions to keep in mind if you plan to use the Bitcoin feature.
How to Use Venmo
If you have ever made a Venmo money transfer, then you will know that the app is intuitive and easy to use. As with PayPal and Cash app, Venmo is free, as long as you do not use the expedited money transfer or business transfer features.
The Venmo mobile money app is designed to make money-sending a social activity. With every transfer, you may write a message with emojis. You may also see the recent activity of friends in your network who use the app, although you may not see how much money each friend sends. If you do not want your friends to see your transactions, then you may set your transactions to private mode
Venmo is also similar to PayPal and Cash app because your money collects in your Venmo account before you may transfer it to your bank account. To use Venmo and send a mobile money transfer:
- Install the Venmo app on your smartphone.
- Create a username and enter your banking information. At this point, you may also connect your account to Facebook or manually add friends by entering phone numbers.
- Begin using the app to send and receive money transfers.
In addition, you may use Venmo money transfers to pay certain businesses. Participating businesses will allow you to link your Venmo account to your account on their sites. Participating companies include Uber, GrubHub, Seamless, Forever 21, J. Crew, Urban Outfitters, Lululemon, Foot Locker, Eastbay and Poshmark.
Learn About Additional Money-Transfer Apps You May Consider
If you are looking for a different money transfer app, then you may consider using Zelle, OFC or TransferWise. Zelle is an app that works directly with banks. In other words, it will be easier to make money transfers through Zelle if your friends have banks that work with the app. You may still send money through Zelle to friends with non-participating banks, although the transaction may take longer.
OFX reviews state that the OFX app is particularly useful if you need to send a large amount of money to people outside of the U.S. This app is different from money sending apps, however, because each transaction must be at least $1,000. TransferWise is similar to OFC, as you may make international transfers, but your minimum transfer must reach $1,000.