Best Money Transfer Apps for September 2024

Wise is an international money transfer app that allows Android, iPhone, and desktop users to send money to 160 countries, with relatively low transfer fees for many currencies. Wise also has the highest transfer limits among apps we reviewed, by a long shot. Single-currency transfers between Wise accounts are free and instant, but you’ll pay a small fee to withdraw money to your bank account, which varies based on the currency. While withdrawals are usually instant within the U.S., it could take up to three working days to receive the money in your bank account. 

Wise may not be the best choice for people sending payments to their friends in the U.S., since Wise charges a fee to withdraw your balance to your bank account, while some other money transfer apps offer free withdrawals. However, it’s a great option for people who want to send money internationally, particularly when sending large sums, or who need a convenient and affordable way to spend money abroad without a credit card.

A one-time $9 fee gets you a Wise debit card connected to your account balance, which you can add to a digital wallet like Apple Pay. You can also use the physical card to make payments online and in stores around the globe. The card automatically converts your currency at a fair exchange rate when you shop abroad, with low fees. For example, if you want to spend $100 at a restaurant in Europe, Wise only charges $0.39. Each month, you’ll also get two free ATM withdrawals up to $100.

Wise has a great reputation for customer satisfaction, with the highest Trustpilot score of the apps we reviewed (4.3 out of 5), and highly rated mobile apps to boot. Wise was founded in 2011. The U.S. entity is incorporated in Delaware and has an office in New York. 

Venmo is only available in the U.S. but it’s quite popular, with 60 million+ users. It’s our top pick for sending money to friends and family in the U.S. thanks to its instant transfers and 0% fees when sending from a bank account, debit card, or Venmo wallet. Although some other apps (like Zelle and Meta Pay) have similar fee structures, they’re more limited in scope. Anyone in the U.S. can download the app (for iPhone or Android) and send or receive money with other Venmo users.

Verified users can send up to $60,000 per week. That’s one of the highest transfer limits among apps we reviewed, after Wise and WorldRemit (Zelle transfer limits vary by bank and user). If you haven’t verified your identity, you’re limited to sending $299.99 per week.

You don't need one to use the app, but users can apply for a standard Venmo debit card, a Venmo Teen debit card, or a Venmo credit card. These can be used like any other payment card, with the debit cards pulling from your Venmo balance.

The Venmo app has excellent user ratings in app stores, with a score of 4.9 out of 5 in the App Store and 4.2 in Google Play. But its Trustpilot score is an abysmal 1.1 out of 5, although there are relatively few reviewers there.

Some downsides to Venmo are a lack of international transfers and a relatively high credit card transfer fee of 3.00%. Standard transfers from your Venmo account to your bank account are free, but they may take up to three business days. If you want the money in your account instantly you’ll have to pay a fee of $1.75%, with a minimum of $0.25 and a maximum of $25. 

Venmo was founded in 2009. It came under the control of PayPal in 2013, when PayPal acquired the payment service Braintree. PayPal’s headquarters are in San Jose, California.

WorldRemit allows you to send money from your phone (Android or iOS) or online account to more than 130 countries in multiple currencies, but it has more limited countries, payment methods, and payment receipt options than Wise. 

For example, if you’re sending money from the U.S., you can’t send funds to someone in the European Union, and you can only send funds directly to an individual’s bank account in select countries, including the United Kingdom, Mexico, Australia, Canada, Morocco, and a few others. There’s also a $5,000 transfer limit when sending money from the U.S.

That said, WorldRemit only charges a low, fixed fee for international bank transfers. For example, you can send any amount up to the limit from the U.S. to the U.K. for just $1.99, and it should arrive the next working day. Exact fees and transfer times depend on the country and payment receipt option you choose. When paying from your U.S. bank account with an ACH transfer, WorldRemit says the service is slow—it will take up to four days for your transfer to reach WorldRemit, plus additional time to reach the recipient.

WorldRemit allows you to store funds in a WorldRemit wallet, but the feature is only available in a small number of countries, and there’s no clear list of its availability. The WorldRemit mobile apps are highly rated, and the company has a great Trustpilot rating (3.8 out of 5), coming in second after Wise. WorldRemit was founded in 2010 and is headquartered in London. 

Zelle is our top pick for low fees and domestic bank-to-bank transfers because it allows you to send money instantly for no cost. Chances are, Zelle is already a feature in your banking app—more than 2,000 banks and credit unions use Zelle. But even if your bank doesn’t work with Zelle, you can still send and receive money using the Zelle app. When making a Zelle transfer, only one person involved in the transaction needs to bank with a financial institution that supports Zelle. 

However, Zelle doesn’t support multiple currencies and only works with U.S. bank accounts and debit cards, so you can’t use it to transfer money internationally. There’s also no option to transfer money from a credit card, so you’ll need to have sufficient funds in your bank or debit card account. 

Depending on your bank and several individual factors, you may have to follow strict transfer limits when sending money with Zelle. For example, some Chase customers can send up to $500 a day, while others can send up to $10,000. Per-transaction and monthly limits may also apply. 

Zelle has poor reviews on Trustpilot (1.1 out of 5), although Zelle app ratings for Android and iPhone are relatively good (3.9 and 4.8 out of 5, respectively). Early Warning Services, the fintech company that owns Zelle, is based in Scottsdale, Arizona. The company launched the Zelle network in 2017. 

Cash App is inexpensive to use for most everyday purposes. It doesn’t charge for sending money from your Cash account or debit card, or for standard withdrawals to your bank account. However, there may be individual transfer limits. Unlike Zelle, you can use Cash App to send money with a credit card, but the 3% fee is relatively high. 

While you can use your Cash App card internationally with no fees, you can’t send money to people outside of the U.S. and the U.K. 

Cash App offers other banking and investing services in addition to money transfers. Once you’ve verified your account, you can request a free Cash App card, which gets you FDIC insurance for your cash balance, instant discounts when you shop, access to ATMs, and the option to auto-invest with each transaction via roundups. You can also use Cash App to buy, sell, send, and receive Bitcoin and buy and sell stocks commission-free.

Cash App’s Trustpilot score is quite low at 1.5 out of 5; some reviewers complain of withdrawal limits or temporarily restricted features of their account, as well as poor customer service. As with other money transfer apps, Cash App is often used by scammers, so be careful when sending money. 

Cash App, which was founded in 2013, is owned by fintech company Block. Block is being investigated by federal prosecutors as of May 2024. 

PayPal allows you to make free domestic transfers from your PayPal balance or bank account. Once your account is verified, you can send up to $60,000 per transfer with no cap on the number of transfers, though PayPal says it may limit the transaction amount to $10,000 in some cases. Take note that the recipient will usually need to have a PayPal account to access the money.

PayPal is not as ideal for international transfers. The exchange rate is not as favorable as Wise’s mid-market rate due to a 3% to 4% currency conversion spread in addition to international transfer fees. On the plus side, PayPal’s international transfer fees are capped at just $4.99. If you have an American Express credit card, you can avoid PayPal’s credit card transfer fee by sending money from your Amex Send Account.

PayPal also charges a relatively high instant withdrawal fee when transferring money from your PayPal balance to your bank account or debit card: 1.75% of the transferred amount. Standard transfers, which are free unless currency conversion is required, typically finish within one business day. International transfers are also speedy to most countries, usually taking just a few minutes. PayPal’s Xoom service offers multiple methods of receiving payments, including cash pickups at stores, but the options and timeline vary by country.

PayPal has well-rated mobile apps, but the company is poorly rated on Trustpilot, with a “Bad” score of just 1.3. Still, PayPal is a widely accepted, global leader in payments that has won numerous awards for excellence (like Webby awards) since it was founded in 1998. The company is headquartered in San Jose, California.  

Meta Pay makes it easy to send and receive money with friends and family through Facebook Messenger, and in some cases, WhatsApp. Meta Pay charges no fee to send money and it’s a great option if you and your friends or family use Messenger. Transfers happen instantly, but depending on your payment method it could take three to five days for your balance to update.

Meta Pay has somewhat low transaction limits relative to the other money transfer apps we reviewed—you can send up to $10,000 per transaction if you use a Visa debit card, $5,000 with a Mastercard debit card, and $3,000 with a PayPal account. 

While Meta Pay is available in 143 countries, U.S. residents currently can’t use it for international money transfers. Meta Pay securely stores your payment info, but it doesn’t offer a wallet for storing funds. And although Meta Pay can be used in both Messenger and WhatsApp, there are some limitations depending on the app you’re using. 

For example, transfers through Messenger can only be made within the U.S., and they must come from bank-issued Visa and Mastercard debit cards, reloadable prepaid cards, government-issued bank cards, and PayPal accounts. And you must use the Messenger mobile app to do so, rather than the website. WhatsApp money transfers, on the other hand, are not currently available in the U.S., although depending on where you live you may be able to make payments from a credit card.

We appreciate the extra security features of Meta Pay, including anti-fraud technology, encryption, and the option to create a PIN or use a fingerprint or Face ID on your phone to authorize a payment without providing your biometric info to Meta. 

Mark Zuckerberg founded Facebook in 2004, and the company was rebranded as Meta in 2021. Meta is headquartered in Menlo Park, California. The company is currently under regulatory scrutiny in the European Union, where the European Commission is investigating whether Meta is taking sufficient measures to protect young users from harm. 

Apple Cash is built into the iPhone as part of Apple Wallet, so you don’t need to download an app to use it. Apple Cash, a digital card stored in your Wallet, allows you to send and receive money domestically with friends and family through iPhone messages—this means only iPhone users in the U.S. can use Apple Cash for P2P transfers. You can send money using your Apple Cash balance or directly from a debit card.

Apple Wallet had the highest mobile app rating among money transfer apps we reviewed, with a score of 4.8 in the Apple App Store. Apple Cash may offer higher transfer limits than Zelle or Cash App for some users: Primary account holders can send up to $10,000 per transaction, although Apple Cash Family Account users are limited to $2,000.

Apple Pay and Apple Cash are more secure than shopping with a credit card or sending money through most other apps. That’s because you need to authorize transactions with Face ID, Touch ID, or your passcode. Apple doesn’t share your payment information with retailers, so it can’t be traced back to you. It also offers parental controls that allow you to send money to your kids stress-free. You can limit who they can send money to, and you’ll be notified when they spend their Apple Cash.

It’s usually free to withdraw money to your bank account; instant withdrawals are available for a reasonable 1.5% fee. You can also spend your Apple Cash at any retailer that accepts Apple Pay, which makes it easy to avoid the fee altogether. 

Apple Pay and Apple Cash are available in many countries besides the U.S. You can use your Apple Cash balance when spending abroad (for a fee), but you can’t send or receive money internationally. Apple Cash has been around since 2017.