Posted by Through an independent review process we recommend the best products. Advertisers do not have any influence on our selections. If you recommend partners, we may be compensated. Read our advertiser disclosure for more info.
In the 1990s, $5 was all you had to pay a friend. You would simply pull out a bill from your wallet and give it to them. Cash may still be the best option for small in-person payments but it’s much easier to send money between family and friends electronically. These social payment apps are great for sending money to a relative, friend, or roommate. You can send them anything from a check for a restaurant to your rent share.
List Of 6 Payment Apps
1. Paypal
Why We Choose It
PayPal is our top choice for the best overall payment app. PayPal has a simple interface and strong security. There are no fees to send money to friends and family.
Pros & Cons
Pros
- It is easy and free to create an account
- There are no fees for sending money to family members
- Strong encryption technology ensures that accounts are secure
Cons
- To receive payments, business owners pay a fee
- PayPal can freeze your account
Overview
PayPal is the most well-known payment company, dating back to 1998. PayPal was the first digital wallet and payment provider to eBay transactions. However, it has grown to be a dominant name in online payments.
PayPal allows you to transfer money from and to any U.S. bank account as well as many foreign accounts. PayPal charges fees for sending money from a credit or debit card to friends and family. However, there is no charge to transfer funds from a PayPal account or balance to a PayPal account to family members or friends.
2.Venmo
It’s Why We Choose It
Venmo makes it easy to split contributions whether you are dining out with friends or a group.
Pros & Cons
Pros
- It’s easy to split the bill between friends and family
- Transfers instantly available
Cons
- Send money using a credit card for a 3% fee
- Privacy default is public view
Overview
PayPal actually owns Venmo, but Venmo has a different app from PayPal. Venmo is an app that allows you to send money to your friends. It also has a social component. You can access your account from a computer, but you cannot send money through the app or mobile browsers.
Venmo is used by close to 85 million people. This is a lot of restaurant checks divided. Venmo can be used to make payments at many businesses. You can send money free of charge using your bank account or linked debit card.
3. Cash App
We chose it
Cash App allows users to sell and buy bitcoins through a simple peer-to-peer platform.
Pros & Cons
Pros
- Easy to link your bank account via a debit card
- Users can use a digital wallet
- You have the option to sell and buy bitcoin
Cons
- You can only send $250 per 7 days, but you will receive $1,000 every 30 jours without verification
Overview
The solution of Square’s parent company Block Inc. to the rising popularity of peer-to–peer payments is Cash App. The basic functionality of Cash App is the same as Venmo but with no social features. Cash App allows you to send money to your friends and request money from them. Funds are drawn at no cost from a linked debit or bank account.
Cash App has added the ability for users to purchase and sell Bitcoins in 2018. This is a new feature that makes it stand out from other payment apps.
4. Zelle
Why we choose it
Zelle allows users to quickly transfer money by linking up with their banks.
Pros & Cons
Pros
- Many banks offer Zelle.
- Transfers same-day
- Zelle charges no fees to send or receive money.
Cons
- Only one bank account can be used to send funds
Overview
Zelle is a unique way for you to pay your family and friends right from your bank. You can send cash the same day if you have an account with a bank that is a participant. There are many banks that participate in the program, including Bank of America, Citibank, Chase, Bank of America and Citibank.
You can still use Zelle even if your bank is not a partner. Simply download their app and link your debit card. You can use Zelle’s service via your bank’s mobile app or website if your bank participates.
It’s free to send and get. At this point, you can only connect one bank account with your Zelle profile.
5.Google Pay
Why We Choose It
Google Pay is a great toolkit option for those who are avid users of Google’s product range. This versatile, convenient app makes it simple to send and receive payment.
Pros & Cons
Pros
- There are no fees for sending money to family and friends
- Integrates with Google products like Gmail
- It’s easy to use with a smartphone or laptop
Cons
- Transfers to your account may take up to 3-5 days
- Transfer fees for debit cards (1.5% or $0.31 depending on the higher)
Overview
Google provides a tool that allows you to do nearly everything online. This includes sending money. Google Pay’s integration with other Google products such as Gmail is unique. Google Pay allows you to send and receive money to family and friends by using their name and email address. You are already signed up for Google Pay if you have a Google Account.
It is easy to use and well designed, as are most Google products. It can be used with the Google Pay app, as well as other integrated Google services. Google Pay is free to use, except for when you transfer money to a debit card.
6. Facebook Payment
Why we choose it
Meta is a payment service that allows Facebook users send money to each other.
Pros & Cons
Pros
- Transfers are private unlike other apps which have a public option
- It’s easy to use your Meta chat experience
Cons
- To use Facebook, you must have a Facebook account
- You will need to link your PayPal or debit card to your Meta account
Also Read-MP3 Converter: How Work And Why