So today I want to share with you seven different money transfer apps that are easy to use and free. Now I want to share these with you so you don’t have to be paying any stupid fees when transferring money to friends and family members. I don’t want the Western union to get any more kind of money than me transferring the money that I wanted to transfer and so this makes it so much easier. Now, these seven different apps are currently available on pretty much most platforms and also pretty much mostly in the US as of this recording. Sometimes those things can change and if that does get updated I will let you guys know in the show notes down below. But as of right now, most of these are going to be through the US only and make sure you stick around till the end because we’re going to be talking about which one of these seven free money transfer apps might be best for you to have on your phone before getting onto the list.
My name’s Dennis. And here on this channel, we love finding ways to build wealth and become financially free and even if that means saving a little bit of money on money transfer fees or getting money back from somebody that owed you something that can go a long way. Make sure you hit that subscribe button because we talk about personal finance quite a bit. So the first money transfer app is a cash app. Now cash app is super simple and easy to use. It’s very basic when it comes to how to send and receive money. And the nice thing is they also have a cool feature where you can get a debit card to spend that money that you received from friends or family members directly on the card instead of having to send it back to your bank account.
The cash app has a $5 sign up bonus
What you can easily do, of course, if you so chose. So as of this recording, the cash app has a $5 sign up bonus. I will have a link in the show notes down below. So next off it’s probably one of the more popular ones. And this is Venmo. So Venmo is an app very similar to a cash app that you can send money back and forth to friends and family members. Then they’ll recently also added a card as well, having personally utilized it as I did with the cash app, but I do have the ability to use that money directly. Now cash app and Venmo also have a cool feature where you can have money sent directly to your account instantaneously, but they do charge you a tiny fee for that. So if you need the money right away, you can do it through transferring instantaneously or using the debit card that’s provided.
So the next one up is going to be PayPal. Now PayPal is a pretty big one, but some people might not know that they do have friends and family feature to be able to send money with no fees. If you send money to a business, you usually will have a fee recurring on the businesses. And so receiving that money can cost you about 2.75% but if you select friends and family that allows you to send that money with no fees, just be cautious because if you send that money to a business as a friend and family and they don’t deliver, you do not have the customer protection. So the next one is a pretty big one that most people might not know about and this is with Google pay. So Google pay allows you to send money through email entirely for free, super easy to set up, have your card on file and in your emails you can click a little money icon and send money directly through email.
So simple and no fees, which is one of my favorite things and just right there at your fingertips. Another surprising one is going to be with Facebook messenger. So a lot of people have Facebook and have quick access to their accounts. You can go into messenger and pay somebody directly there. So this is a very simple way. If you already know the person and have messages back and forth, you can easily confirm that you’re sending it to the right person. All you have to do is set up a card on your profile to be able to send that money. So next up on this list is Apple pay. Now Apple pay does have a couple of limitations, mainly the fact that both parties need to have an Apple account, so that way you can send the money. Now with Apple pay, it’s very simple to have money added into your account from one of your cards on your Apple wallet or as the new Apple credit card will be giving you cashback directly into your cash account to be able to transfer money back and forth.
And the Apple pay is mostly simple to set up for people as they typically already have my card on file and then all they do is just send a message for people that they want to either receive or send money to through messenger. So next up on this money transfer list is Zelle or Zelie? Um, and sometimes people give me that hard time with if I’m saying Zau or Zelie, but either way it’s a free money transfer app. And the nice thing about this one is it’s actually through most major bank accounts. So the nice thing with Zelle is that these are directly from banks, the big banks that most people already have accounts with. And so it’s really easy and simple to set up and be able to transfer money from your bank accounts who a friend or family member or vice versa.
Transferring money directly from your bank accounts
You can check that out if you’re interested in transferring money directly from your bank accounts without really needing to go through any other type of apps. And the biggest benefit of this one is, as I mentioned, you’re not going through multiple apps. It’s just from it, your bank accounts or theirs or vice versa. So before mentioning which one of these apps it might be the best one for you, I want to know from you guys in the comments down below, which one of these apps have you personally utilized before? Do you like them, do you not?
All right, so which one of these apps is going to be the best one for you? Obviously, we talked about seven different apps here today and each one has a couple of different features that maybe other ones don’t, but one thing before mentioning which one is make sure that you go through and read all the details and all the features of each app individually because each one has different limitations and rules and requirements when starting them up and as far as which one is the best one to have, I recommend having all of these apps available for you. And the reason for it is if you had to transfer money or you have to receive money from somebody, it’s so much easier and so much better for you personally. If everything is set up with all of these different apps, so that way the person that is trying to send you money can easily do so in whichever format they have because you have every single one available.
The last thing you want to be doing is sitting around and having to create your account, put in your information and go through that whole process. While you’re waiting for this person to transfer your money, it might as well just go ahead and do it right away, especially if this person has taken months, if maybe even years to pay you back. You don’t want to give them any more time. You want to make sure you have these apps directly available and have all your information saved. If you want to keep on learning more about some of these apps where I go in-depth and actually show you some of the tutorials for them, click on this playlist right over here.