Best Money Transfer App

OGVIO is a new kid on the block. And boy, does it come with a bang.

As a heads up, OGVIO is still in development; however, there's already a lot of buzz around it. The project promises to be the best money transfer app for remittance - sending money to your family, loved ones and friends, either abroad or domestically.

OGVIO focuses on three distinct aspects - transaction speed, fees, and ease of use.

Fee-wise, many transfers are going to be free, to begin with. Even the transfers that’ll have fees attached to them are going to be very cheap - among the most affordable on the best app for money transfer market!

The way that OGVIO will manage this is by employing smart contract technology under the hood. Complicated jargon aside, what this will do is minimize the fees paid, as well as maximize the speed of the transfer.

That’s the other thing, too - transactions are frankly going to be instant, with a few exceptions. No freezes, no lag - you won’t have to worry for days about your money reaching the recipient, even if you’re sending it from the other side of the world.

In addition to all of that, users will be able to hold and trade a few different cryptocurrencies on the platform. Trading will come with a 0% fee - a huge benefit for anyone who’s looking into additional benefits from their best money transfer apps!

If OGVIO has caught your attention, be sure to enroll in the waitlist on their official website, so you won’t miss out on the launch!

	OGVIO
Fees	Incremental Free transfers between OGVIO users
Transfer speed	Nearly instant, both domestically and internationally
Supported countries	USA, UK, the EU, + others (TBA)
Transfer limits	TBA
App support	Browser-based, app TBD
Additional features	Crypto support 0% crypto trading fees @username functionality Payment request links Multiple currency support

Table: The main features of OGVIO

Krak is another new player in town, albeit a rather unique entry to this list of the best apps for money transferring.

Being a Kraken product, this money transfer app comes from a well-established entity, with many years of experience in the financial space. It goes to show, too. The app is smooth, modern-looking, well-designed, and intuitive to navigate. It features all of the core functionality that you’d expect from one of the best money transfer apps out there!

With Krak, you’re able to send money via bank transfers to more than 160 countries around the world - instantly, and free of charge! It’s taking the process of money transferring to a whole new level.

Furthermore, there’s a big branding emphasis on the simplicity aspect of sending money with Krak. “Send money like a DM” is their motto here. Since Krak has @username tags, payments to friends and family (or anyone else for that matter) really are simplified.

To top it all off, there’s also a debit card in the works, as well. So, if you’re on the hunt for a “global money app”, keep Krak on your radar!

	Krak
Fees	Most transfers are free Some fees on currency exchanges
Transfer speed	Usually instant
Supported countries	USA, Japan, Indonesia, + 160 more
Transfer limits	Depends on the user verification level
App support	Android, iOS
Additional features	Crypto support @username functionality Payment rewards (KrakBacks) Referral program

Table: The main features of Krak

PayPal is among the best online money transfer services in the world.

Most people know and use the platform for online commerce - whether it be Etsy or your favorite online clothing boutique, PayPal is often the go-to option when checking out and making your payment.

That being said, seeing that it’s on this list of the best money transfer apps, I’m glad to say that the platform offers P2P (Peer-to-Peer) money transfers, as well. And, judging by a lot of the user feedback available online, it’s a pretty good option for this particular service.

First and foremost, PayPal is great for sending larger payments. Verified users can transfer up to $60,000 in one transaction. This will be highly beneficial for businesses and high-net-worth individuals.

Unverified users can transfer up to $4,000 per transaction, which is still convenient.

The transfers between PayPal accounts are usually instant, but can take up to 30 minutes to complete. If you’re looking for the best way to transfer money from one bank to another, the timeframe gets even bigger - it could potentially take a few days for your money to move around.

The one area where PayPal does fall short (and where things get a bit confusing) are the fees. Generally speaking, if you’re sending or receiving money domestically, as a personal transaction (to friends or family), there are no fees attached. Assuming that there’s no currency conversion taking place, that is.

Now, international personal transactions will net you a fee of up to €3,99 per transaction. If you’re looking to withdraw money to your personal bank account, the fee can go up to 3% + any currency conversion fees, if involved.

There are merchant fees, too - these can go up to 3,4%, for commercial transactions. However, buying with PayPal is free.

The app is simple to use, intuitive, but doesn’t really stand out from the crowd with any ‘interesting’ functionality. It’s as straightforward as you can get, with a P2P money transfer application.

In short, PayPal is certainly one of the best money transfer apps out there. However, depending on what it is that you’re looking to do, it would probably be a good idea to keep an eye on the fees of this platform.

	PayPal
Fees	Up to 2.9% (domestic) Up to 5% (international)
Transfer speed	Up to 1-3 business days (usually instant)
Supported countries	200+ supported countries & regions
Transfer limits	Up to $4,000 per transaction (unverified users) Up to $60,000 per transaction (verified users)
App support	Android, iOS
Additional features	Crypto support Commercial transactions Payment requests Business accounts

Table: The main features of PayPal

Zelle is a rather unique entry to this list of the best money transfer apps, for a few reasons.

First of all, it’s not exactly an “app”, at least not in the traditional sense of the word. Zelle is integrated into the large majority of banking institutions and credit unions in the US. So, while it’s not a standalone platform, if you’re using any of the major banks within the country, chances are that Zelle will be available to you.

One of the big benefits that comes from these integrations is speed - if you’re sending money to friends or family, in most cases, the transfers are going to be nearly instant. That said, this does come with a huge caveat, as well - Zelle can’t be used to send money to an international bank account (it can only be used domestically).

Not ideal, sure, but another aspect that makes Zelle stand out as one of the best online money transfer platforms is the fact that it charges zero fees on transfers. Well, at least technically - Zelle will charge your bank a fee, which then might get transferred to you - but, Zelle itself won’t charge you anything.

So, is Zelle worth using? The uniqueness of this money transfer platform puts it into a pretty peculiar spot - if you’re based in the US and have a US bank account, chances are that you’ll be using Zelle a lot.

On the other hand, if you reside anywhere else in the world, and need the best app to transfer money to, let’s say, your family abroad, then no - Zelle won’t fit the bill.

It all depends on your own personal situation!

	Zelle
Fees	No (direct) fees
Transfer speed	Between a few minutes and 2-3 business days
Supported countries	USA-exclusive
Transfer limits	Bank-dependant If using the legacy Zelle app - up to $500 per week
App support	Android, iOS
Additional features	Integrated into most US banks Split bills Request money QR codes

Table: The main features of Zelle

Venmo is a P2P money transfer service owned by PayPal. That said, the platform in question isn’t just some sort of derivative of the payment processing giant - instead, it’s a standalone service provider with some very appealing features.

Venmo’s appeal comes largely from the fact that it’s a very simple and user-friendly way to perform money transfers. The simplicity aspect shines all the way through - from how easy it is to create a profile and link your bank account to it, all the way to making payments for services or transfers to friends.

Venmo makes the entire process out to be a social experience - you can choose to make your payments public, for all of your friends and family to see. In this way, it acts like a social media feed, but for money transfers.

That’s not enough to make it one of the best apps to transfer money, though. Venmo also offers its clients a free debit card that you can order, and link to your account. You’d then spend money straight from your Venmo balance - very convenient, especially if you’re using the platform regularly!

App-wise, at first glance, Venmo looks quite similar to PayPal. The social feed is a big standout, but other than that, most features are self-explanatory. Accessing the basics (sending, requesting money, etc.) is quick to do, and there are quite a few additional features to explore & customize your experience with.

Transfers made via a credit card will entail a 3% transaction fee. Furthermore, there’s a 1% fee on instant cashouts to your bank account - while not significant, these fees can add up over time, especially if you’re using Venmo as more of a middleman, rather than a place to store your money.

If you’re curious, what is the best money transfer app when it comes to account limits, the good news is that Venmo has a $999.99 per week transfer limit for unverified users. The limit goes up to $60,000 per week if you have a verified account - for most individual users, that’s going to be sufficient.

	Venmo
Fees	1.75% - 3%
Transfer speed	From instant to 2-3 business days
Supported countries	USA, Puerto Rico, Guam, the Virgin Islands
Transfer limits	$999.99 per week (unverified users) $60,000 per week (verified users)
App support	Android, iOS
Additional features	Social feed Bill splitting Crypto Free debit card

Table: The main features of Venmo

If you’re looking for the best money transfer app for international transfers, many online user reviews will tell you that Remitly is where it’s at.

The app allows you to send money to over 150 different countries around the world. That means you’ll be able to perform a money transfer to most countries and territories on the globe, with a few exceptions.

Remitly is particularly popular among individuals based in the US, who want to send money abroad to their family members. It’s convenient, simple to use, and all that you need to get started is a dedicated bank account + your ID, for KYC verification.

When it comes to the best apps to transfer money, Remitly’s mobile application is, well… Unassuming, to be frank with you. It features the core functionality that you’d expect - currency convertors, transfer methods, etc. -, but there’s not much to talk about, any extra feature-wise.

On one hand, that’s not a bad thing - you have just the core functionality that you’d need, without any extra flashy stuff. On the other hand, though, if you’re looking for a long-term money transferring solution, those extra features could come in handy, at some point.

There are two ways to transfer money with Remitly - Economy and Express delivery. The fees for these transfer methods vary, and depend on the country that you’re making the transfer to - Economy is cheaper, but will take 3-5 business days to complete. Express delivery is nearly instant, but it will cost a lot more.

The good news here is that Remitly doesn’t impose any exchange fees on your first transfer. So, if you’re looking for the best app for money transfers in order to make a quick payment abroad, Remitly should certainly be on your list.

	Remitly
Fees	Varies depending on the sender’s and recipient’s locations
Transfer speed	Economy - 3-5 business days Express - nearly instant
Supported countries	USA, Canada, Australia, + 150 more
Transfer limits	Varies depending on the sender’s and recipient’s locations, the sender’s Tier level
App support	Android, iOS
Additional features	Transfer progress monitoring 24/7 support Cash pickup

Table: The main features of Remitly

Cash App is like the cool kid of the best money transfer apps - it’s a popular application among younger people, as well as offering some unique features that you wouldn’t necessarily expect to find on a platform like this.

To get started with Cash App, you need to create an account and link your bank to it. Then, you can start sending and receiving money in one of three ways - a unique $Cashtag, your phone number, or a QR code.

If you have an unverified account, you’ll be able to transfer up to $1,000 per month. It’s a lower limit compared to many other platforms on this “best app to transfer money” list, but the fact that it still allows transactions without proper verification is appreciated, nonetheless.

One of the biggest features offered by Cash App doesn’t even have to do with money transfers - instead, you can actually purchase stocks and even Bitcoin on the app! In this way, it acts like a sort of all-in-one platform, where you can send money to friends, while also managing an investment portfolio.

Performing instant transfers on the app will cost you a 1.75% fee, with the minimum being $0.25. There’s also a 2.5% fee on crypto transactions, which is quite high - in this case, you’re better off using one of the dedicated crypto exchange platforms.

All of that being said, though, Cash App certainly deserves a spot on this list of the best money transfer apps - it’s simple to use, convenient, and offers additional features that most clients will find useful.

	Cash App
Fees	Standard transfers - free Instant transfers - 0.5% - 1.75% (min. $0.25)
Transfer speed	Standard - 1-3 business days Instant - instant!
Supported countries	US & UK (transactions supported in most countries)
Transfer limits	Up to $1,000 per month (unverified users) Up to $20,000 per 30 days (verified users)
App support	Android, iOS
Additional features	$Cashtag QR codes Stocks & crypto

Table: The main features of Cash App

Western Union is what you would call a “traditional” way to send money. It’s a veteran in the space, and where it lacks in flashy marketing or new-age features, the company makes up in service stability and reliability.

One of the biggest advantages of Western Union is that it’s frankly available worldwide, with a few exceptions. So, no matter where you or the recipient of your transfer is located on the globe, you shouldn’t face any issues transferring your money to them.

Both the fees and the speed of the transfer will depend on a few variables, such as the countries of the sender and the recipient, the method of transfer, and a few others.

This is honestly one of the biggest cons expressed in WU user reviews, though. While the transfers are usually fast, the complex pricing can get rather confusing. It doesn’t help that even when you’ve got the numbers down, Western Union comes out to be one of the more expensive options on this best money transfer apps list.

All in all, it boils down to reliability and trust. If you’re more of a traditional person, finance-wise, Western Union could be a viable option for sending money, both domestically and internationally.

On the flip side, if you’re hunting for the best fees, or looking for simplicity with your payment provider, then there are better options out there.

Speaking strictly from an application perspective, it’s what you’d expect from a service provider like this - the app is a bit complicated to navigate, and isn’t necessarily very intuitive. Sure, you will likely be able to find your way around without much issue, but the ‘traditional finance’ approach that Western Union employs shows, let’s just put it that way.

	Western Union
Fees	Varies depending on sender’s and recipient’s locations (but are on the higher end)
Transfer speed	Domestic - up to 24 hours International - 1-5 business days
Supported countries	USA, India, Pakistan, + 200 other countries & regions
Transfer limits	Up to $3,000 per transaction (unverified) Up to $50,000 per transaction (verified)
App support	Android, iOS
Additional features	Cash pickup Transfer tracking

Table: The main features of Western Union