The best money transfer apps for 2022

Table of Contents

1. WorldRemit

Transfers to more than 150 countries are super-secure

TODAY'S TOP DEALSWorldremitVISIT SITEat Global Remit LTD

REASONS to BUY

+Fast and Secure +Easy to Use

RAISONS TO GET AWAY

-Unpredictable fees

WorldRemit lets you transfer money using a service that is based solely online and finds favour thanks to its competitive rates and solid options for moving money around via an iOS or Android app.

Because it offers a variety of methods to move cash, the money transfer service is flexible. You can choose from debit, credit, prepaid, bank transfer, iDEAL and Klarna as well as Apple Pay, Trustly, bank transfer and bank transfer. WorldRemit does not accept Google Pay.

Although rates may seem competitive, transfer funds will vary depending on where they are going to be sent. Prices will vary depending on which transfer method you choose and the currency.

WorldRemit offers the possibility to transfer money from more than 50 countries to over 150. WorldRemit partners with M-Pesa and EcoCash appto make the transfer process easier.

You can receive transfers as bank deposits, and they are usually processed quickly, sometimes in less than 10 minutes. Recipients can also use cash pickup, mobile money, or airtime top up. After completing a transfer, WorldRemit will send an SMS to both you and the recipient. You also get the backing of FCA approvals and full licensing.

2. Azimo

Trust international transfers

TODAY'S BEST DEALSAzimoVISIT SITEat Azimo GB

REASONS to BUY

+Fast updates regarding transfers +Over 200k pick-up points around the world

RAISONS TO GET AWAY

-No phone number for support

Azimo boasts a crisp and clean operation that offers quick and easy transfers, with instant transfer or one-hour options available to a wealth of different countries. You can also get 24/7 delivery to select countries without the usual weekend delays. Two transfers are also available for first-time customers.

Azimo has been in existence for less than a decade. However, its online service covers more than 200 countries. The service offers around 80 currencies and customers have the option to choose from many ways to transfer money. There are bank deposits, mobile wallets and cash options. However, the coronavirus pandemic reduced the demand for transfer cash.

Azimo's Azimo Business feature was also added recently. This is for small and medium-sized business owners who want to benefit from transfer rates that are often lower than their bank.

Azimo claims it can save up to 90% on rivals. You can easily keep up with changes in currency rates and receive constant updates via the Azimo app's alerts. The cost of sending money from and to where it is going, along with the delivery method chosen, will all affect your overall fees.



3. Venmo

The go-to for millennials is wooing companies

TODAY'S BEST DEALSVenmoVISIT SITEat Venmo

REASONS to BUY

+Quick, easy +Added social features

Venmo is popular with both individual users and businesses thanks to its best money transfer apps, which benefits from having the muscle of parent company PayPal behind it. Venmo's social aspect is what makes it most appealing to consumers. Venmo allows you to share information about your purchases with other members of your social network.

This service functions much like a digital wallet. It allows you to make quick, easy transfers to your friends. Perhaps you could share the cost of a meal? Venmo is a great way to make sure everyone pays their bills. Even better, Venmo has no annual or monthly fees. However, credit cards can attract a 3.3% fee if there isn't any other option.

It's easy to set it up and use Venmo. Payments can be made through a bank account, or a debit card linked bank account. If you have enough funds in your Venmo wallet, money can be transferred directly. If you transfer money from your Venmo account to a linked bank account, there is a 1% fee.

It's easy to manage your transfer money every day. There are a variety of settings that allow you to use it as you need. Public, Friends and Private options can be useful for different payment situations. Venmo offers the ability to make payments with QR codes. This allows for quick, efficient, and precise transfers that will reach the correct recipient.


4. PayPal

You can tap into the payment giant's offer from your smartphone

TODAY'S TOP DEALSPayPalVISIT SITEat Paypal

REASONS to BUY

+Lower transaction limit +Simple method of choosing the recipient

RAISONS TO GET AWAY

Charges for debit card transfers

We weren't exactly going to leave PayPal account out of a conversation about money transfers, were we? Although the service is now ubiquitous in e-commerce, the acquisition of Venmo by the company suggests that it still has work to do to become a popular app for peer to peer transfers.

PayPal's app is more corporate than Venmo, which clearly targets the younger market. The app's strict security measures, such as requiring you to enter your password each time you open it, further emphasise the company's heritage. Although it may seem like an inconvenience, this is a smart security measure.

PayPal's mobile transfer apps speeds are comparable to the rest of the industry, however, debit card transfers can be charged. This is a rare exception for domestic transfers.

PayPal's simplicity of entering an email address or a phone number to make a payment will always appeal to users. However, if you are looking for quick peer-to-peer transfers rather than international transactions then those debit card fees might be a good option.



5. Western Union

Mobile payment is convenient from the money transfer service mainstay

TODAY'S BEST DEALS VISIT SITE

REASONS to BUY

+Handy shortcuts +Multiple payments methods +Trackable transactions

Western Union has one of the highest profiles of all the money transfer app operations, with a long history to back it up. This means that you have many options, especially since this global service is now available via your mobile device.

Choose from pricing options using the Western Union Price Estimator tool and select a transfer method from either online, in-store or mobile. Fees will vary depending on the country you are sending the money and the currency. This theme is common to other sectors.

Western Union's cash pickup feature is a popular one. However, there is a mobile wallet option that has gained popularity. It's the Western Union app, which is so convenient, that has truly revolutionized the service.

You can have a one-touch fingerprint login and set up instant access for contacts to whom you send money regularly. Additionally, you can dynamically track all your international transfers. To see the status of your transfer apps, simply enter your tracking number. You have the option to pay directly from your bank account via credit or debit card, cash, or by phone. Apple Pay integration is also available.


6. TransferWise

TransferWise allows you to move your money around

TODAY'S BEST DEALS VISIT SITE

REASONS to BUY

+Solid mid market rates+Great apps on iOS and Android

RAISONS TO GET AWAY

-Immediate customer service number not obvious

Based in the UK, TransferWise is a peer-to-peer money transfer service, which is currently available in 59 countries with plans to take that figure much higher over the next few years. It offers the best money transfer apps options that are simple, as well as a multi-currency bank account. You can hold more than 50 currencies simultaneously and convert them whenever you like.

Its fees page allows you to see how much of the charge is fixed, followed by variables. These two fees are then added together to calculate the total fee for each transaction.

You can also choose the type of the best money transfer apps you require. This means that if money is moving quickly, you will pay more than the slower and cheaper option. You also have a middle-tier option, which seems to cover all bases.

TransferWise also offers Business pricing. This allows you to access additional features, such as the ability to send money in EUR, USD or GBP. To convert currencies, however, there is a fee of 0.33% to 3.56%. You can also get the supporting TransferWise debit Mastercard for free. There is a currency conversion fee of 0.33-3.56% and a 2% fee for ATM withdrawals above PS200 per month.

Similar to other marketplaces, TransferWise has a dynamic calculator that allows you to work out your fees before moving or receiving cash.


7. MoneyGram

One of the oldest money transfer services

TODAY'S BEST DEALS VISIT SITE

REASONS to BUY

+Use it everywhere+Global network

RAISONS TO GET AWAY

Pricey – Some negative reviews

MoneyGram is another instantly recognisable name in the money transfer app sector and is one of the longest-running operations too. It's possible to send money to almost anywhere due to the scale of the operation. However, charges will depend on where the cash app is going.

You can also expect fees to be similar, with a tier-based system of charging giving you an idea about what you can expect in terms of cost. The bank option is usually cheaper than using a debit cards or credit card to move money. Another way to save money is to have the money in a bank account at your destination rather than having it picked up by someone.

Exchange rate fluctuations are also included in overheads. However, MoneyGram has a rewards program that allows you to earn a percentage on future transactions. MoneyGram's sheer number of outlets all over the globe is another bonus, which is often the draw for money transfer recipients.

MoneyGram is also adapting to the times. They offer a variety of money transfer options. Traditional bank accounts are still popular, but so are mobile wallets. International money transfers to more than 200 countries are possible with around 50 currencies.

The best of the rest

Google has been ramping up its presence in the peer-to-peer payments market for some time, and Google Pay is the latest iteration of its money transfer app. Although it is only currently available in the US, its quick functionality and bill-splitting features suggest that it's a great app.

Facebook wants to get in on the act too, and so it has lumped peer-to-peer payments into its Messenger app. After you have entered your bank details, you can instantly send up to $2,500 to contact on Facebook by pressing a button. It will catch on.

Not about to miss out on a tussle with its fellow tech titans, Apple has Apple Pay. You can make secure purchases online, in apps and in stores. Additionally, you can send and receive money through Messages – which could be a game-changer.

Though not hailing from the same tech super league as the previous three, Square's Cash App is a major player in this field. It started with instant transfer or peer-to-peer payment, then it added a business-friendly extension and now supports Bitcoin trading.

Getting back to the international specialists, we have OFX. The app allows you to money transfer international funds quickly from your mobile device. It also provides live commentary and insight on market rates. You can also rely on solid customer service through its support teams in Australia and New Zealand.

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