Since the time online money transfer functionality has become available, it has become much easier for people to transfer money to other people. There are many people in this world who don’t like keeping cash with them and for them it is like a boon.
There are various online apps available in the market that makes it easier for them to transfer money between friends like never before. So, you don’t need to carry cash as going online is a way of life. Let’s have a look at these apps.
Venmo is a popular option in today’s times. The credit goes to free transfers and slick apps to control it all. Moreover, it doesn’t hurt that many people have Venmo accounts. Therefore if you wish to send someone money, there’s a good chance that they have a Venmo account and can receive your money instantly.
The app is solely meant to transfer money. This results into increased confidence in people as compared to other options such as Snapchat. For a simple and straightforward solution, Venmo is undoubtedly a great choice.
It has been in the market for longer years. Since many years, it has become a popular choice among people from all walks of life. PayPal is every so often not used because people believe that money transfers carry some charges, but in case of personal payments within the US, they’re absolute free if you use your PayPal or bank account balance. There is a minimal fee if you use a debit or credit card to fund money transfers.
Another downside of PayPal is that all payments that one makes first goes to PayPal balance and one need to manually withdraw their PayPal balance to their bank account. This involves more time for processing and this is why a large section of people avoid this app.
- Gmail/Google Wallet
This option is really great for people who use Gmail more often. It’s a hassle-free way to send money via Gmail due to Google Wallet integration! This is a wonderful solution because it’s absolutely seamless to use if you and your friends use Gmail. Just click on the little dollar icon when writing a message to your Gmail friend, and you’dbe able to send money from your Google Wallet balance or any linked debit card.
- Square Cash
The makers of Square, which permits people to accept credit cards for transactions via an adapter that plugs into their mobile device’s headphone jack, have released Square Cash. This is another similar platform that allows you to transfer money to others who are also signed up for the service. Connecting to bank accounts or debit cards is absolutely free, but using credit cards will acquire a 3% fee.
- Facebook (Coming Soon)
Though the leading social media platform doesn’t have any running fund transfer option, it is going to be available very soon for its users. The team is working on the same and it will be rolled out very soon.