5 Best Money Transfer Apps for 2021

For most of us, it is hard to imagine a day without cash-free payments. Online payments have gained immense popularity among users in recent years, and the COVID-19 pandemic became an accelerator to the development of cash transfer apps.

Money transfer apps enable seamless user experience by providing secure and fast transactions. We prepared a list of popular money transfer apps to look at their functionality and find out why they are so widely used. This article will be helpful if you want to find a reliable money-sending app for your needs. And if you are interested in how to create money transfer software, you will find valuable information below. Let’s get started!

5 Best Money Transfer Apps for 2021

Beyond any doubt, these apps are market leaders. Let’s take a closer look at what each of these apps offers its users.

1. PayPal

Launched in 1998, PayPal is one of the oldest market competitors in this industry. The primary idea of this app was to provide payments for eBay transactions, and now it has grown to one of the world’s most prominent players. PayPal emphasizes that it enables secure payments to most countries with low fees. While other apps are more targeted at the younger audience, PayPal has become a top choice for corporate use. The payment speed is similar to that offered by other good money transfer apps.

It doesn’t charge you for money transfers between family members. The fees for debit and credit card transfers are 2.9% and 30 cents. For international transactions, PayPal charges $2.99 for European countries and Canada and $4.99 for other countries. Fixed fees vary in different countries. According to statistics, PayPal is the most used money transfer app in the US market.

5 Best Money Transfer Apps for 2021

Key features:

  • seamless international transactions;
  • ability to monitor each transaction;
  • advanced security and reliability via strong encryption tools;
  • easy to choose a recipient;
  • comfortable payment limits;
  • easy to set up an account;
  • allows transferring money from any bank in the USA.

Among the disadvantages of PayPal, we can single out:

  • charging debit card transactions;
  • fees for both customers and businesses;
  • ability to freeze user accounts.

2. Zelle

Zelle is a free app to transfer money targeted at US users. It is one of the leading apps when it comes to money transfers online. However, to use this app, the user should have a bank account at a US bank. If you have it, you can perform same-day payments to your friends or family who have a card at the participating bank. Customers can transfer money from any mobile device via a user-friendly app. A significant benefit of this platform is that it is backed by giant US banks like Chase, Wells Fargo, Citi, and top digital banks like Ally.


Here are the core features of Zelle:

  • payments directly from the user account to the account of another user;
  • fast transaction speed (it normally takes a few minutes);
  • for unregistered users, the transaction takes up to three business days.

Probably the most significant disadvantage of Zelle is that you can sign up and make payments from only one bank account.

3. Venmo

Venmo is a digital wallet introduced by PayPal that offers peer-to-peer transactions online. During the fourth quarter of 2020, the total payment volume increased by 60% of yearly growth due to the impact of the COVID-19 pandemic. If you are more interested in fast peer-to-peer payments than worldwide transfers, Venmo is the best money transfer app. Originally, it was created to split bills between friends easily, but now this app deals with a much wider range of financial services. Venmo is a convenient platform targeted at mobile device users (Android and iOS), and its highlight is a social aspect.


Let’s have a more detailed look at its functionality:

  • connecting your Facebook or other social network accounts;
  • likes and commenting on people’s transactions;
  • enhanced privacy functionality;
  • no fees for most transfers, but the fee for credit card payments is 3%;
  • strong security system;
  • instant money transfers;
  • convenient UI targeted at a younger audience.

Now, over 60 million users have an account on Venmo. However, there are some cons to consider:

  • suitable for mobile use only;
  • the privacy default feature is public viewing.

4. WorldRemit

When it comes to payment speed, WorldRemit is among the top money transfer apps. It is available on both iOS and Android devices and allows rocket-fast transactions. Users can send money to over 150 countries within a few minutes. The fees WorldRemit provides are comparatively lower for international transactions.

WorldRemit-5 Best Money Transfer Apps for 2021

Its key functionality involves:

  • fast transaction time;
  • different ways to access money for receivers (bank deposit, cash pickup, mobile credit, airtime top-up);
  • no minimum for international transactions;
  • notifications when the transfer is finished (emails and messages);
  • high payment safety and compliance with the latest standards and licenses;
  • flexible payment charges dependent on the sum and specific country;
  • free first transaction.

WorldRemit doesn’t offer extended functionality like cashback or social media integration. However, it includes all the convenient features for international payments in one place. The only concern is that users need to pay attention to fees in the particular area.

5. Azimo

Azimo is a handy money transfer application that enables making transactions on the go. It is present in both the App Store and Google Play. Its highlight is the location-specific instructions that reduce customer time spent choosing the most suitable way to collect payments. This opportunity significantly improves the user experience with money transfers via this app. Azimo combines innovative technologies with reliable international money transfer services and, like Venmo, targets younger users.


Here are the core features Azimo offers:

  • fingerprint identification and authentication via AI;
  • enhanced information security;
  • synchronizes with phone contact list;
  • more than 200,000 pickup points;
  • fair fees;
  • instant updates on the transfer status;
  • strong customer service;
  • scanning cards;
  • innovative payment methods.

However, customer support is possible only via email, which may be inconvenient for some users.

Wrapping up

When it comes to finances, people are always very attentive and take things seriously. With so many money transfer applications available, it is hard to choose the most suitable one. We hope that our overview of the 5 leading apps helped you make a more informed decision about which one is the best. Keep in mind that the most important thing to consider is your aims. Depending on if you need to transfer money to another country or make instant payments, different platforms may provide the best experience.

Back to top button