Popular Apps That Allow Digital Money Transfers

Some of us like to keep a couple of dollars on our person at all times. Certainly, there are still times when you need a little physical cash on hand in 2016, such as when leaving a tip at a restaurant. Still, you’re more likely to use digital transactions — it’s safer to have your money in your bank than in your pocket, and in the event that you lose your wallet, you don’t lose your hard-earned cash. While sticking with a card is fine if you’re going shopping, what about if you owe friends a little bit of cash for dinner and you have no dollars on your person? What then?

Lucky for you, there are plenty of apps available on smartphones that allow for seamless, easy transactions. Below, we look at the most popular apps you may find convenient.

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Venmo
Perhaps the most widely used app on this list, Venmo has established itself as a fantastic way to transfer money to your contacts not only because of its slick and seamless interface and the ability to send and accept cash without transfer fees, but because so many people trust Venmo for their money transfer needs. Unlike the other apps on this list, Venmo is a dedicated money transfer system — the app does nothing outside of money transferring, so you may feel more secure trusting Venmo with your financial data. If you only need a platform to exchange money between friends and family, Venmo is probably what you’re looking for.

PayPal
If you’ve been relying on online commerce for a while and just need to handle money transfers within the United States, there’s PayPal. The long-lived ecommerce platform has proven a solid option for money transfers domestically, as those can be processed free of charges. The app does have a few downsides, however: transferring money from your PayPal account to your bank accounts requires a manual transfer from your PayPal balance, and it isn’t as immediate as Venmo is. Moreover, the service does charge if you use your credit or debit card for money transfers.

Snapchat
Snapchat is one of the world’s most popular social media platforms that also happens to support money transfers, or as they are referred to in-app, Snapcash. Simply add your payment information onto your account, and money transfers can be sent and received as easily as a Snap can. Since Snapcash support is handled by Square instead of the Snapchat team itself, the security issues that plague the social media network aren’t something to worry about if you prefer to send your friend $5 after losing a bet along with your latest Snap Story post.

Google Wallet
Google Wallet is easy and convenient for anyone that has a Gmail account and has friends as contacts on their Gmail account. Simply click on the dollar icon if you need to manage money between you and your friend when composing a message to them, and you’re free to send money either from your Google Wallet or from any connected debit cards. If you already use Google Play on your Android smartphone, this may be the option that requires the least amount of work to setup and use.