7 Best Ways to Send Money of 2023

1. Best for Paying Friends

   Venmo

   Our Partner

   • Fees:

     Free for debit

   • Limitations:

     Can’t cancel sent payments

   • Customer Support:

     Phone and email

   • Transaction Time:

     Minutes for card transfers; 1-3 business days for bank transfers

   Get Started

2. Most Secure

   Google Pay

   Our Partner

   • Fees:

     Free for debit

   • Limitations:

     iOS only in U.S. and India

   • Customer Support:

     Phone, chat and email

   • Transaction Time:

     Minutes to hours for card transfers; 3-5 business days for bank transfers

   Get Started

3. Best for Bitcoin Users

   Cash App

   Our Partner

   • Fees:

     Free for debit

   • Limitations:

     Only for the U.S. and U.K.

   • Customer Support:

     Phone, chat, on social and by email

   • Transaction Time:

     Instant card transfers; 1-3 business days for bank transfers

   Get Started

4. Best for Banking

   Zelle

   Our Partner

   • Fees:

     Free

   • Limitations:

     You can only connect one bank account

   • Customer Support:

     Only supports app issues

   • Transaction Time:

     Typically within minutes

   Get Started

5. Best for Businesses

   PayPal

   Our Partner

   • Fees:

     Various

   • Limitations:

     Several different types of fees

   • Customer Support:

     Chat, Resolution Center and phone

   • Transaction Time:

     Varies, PayPal eChecks can take days

   Get Started

6. Best for International Payments

   Xoom

   Our Partner

   • Fees:

     $1.99 and up depending on type of transaction

   • Limitations:

     Higher fees than other apps

   • Customer Support:

     Phone

   • Transaction Time:

     Minutes to several days, depending on the destination

   Get Started

Today, there are many different ways to send money to friends and family. Whether you need to send money overseas or just a few dollars to a friend to split a meal, you have several choices. Here are seven of the best ones.

Our Top Picks for the Best Ways to Send Money

• Venmo – Best for Paying Friends

• Google Pay – Most Secure

• Cash App – Best for Bitcoin Users

• Zelle – Best for Banking

• PayPal – Best for Businesses

• Xoom – Best for International Payments

• Wise – Best for Exchanging Currency

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The Best Ways to Send Money Reviewed

Best for Paying Friends: Venmo

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Pros

• Incorporates social features

• Can be used with debit and credit cards

• No fee if paying with debit cards

• Ability to get a Venmo card and earn cash back

Cons

• By default, your payments are public

• Hard to get money back once sent

• Scams are common

HIGHLIGHTS

Fees

Free for debit

Limitations

Can’t undo payments

Customer Support

Phone and Email

Transaction Time

Minutes for card transfers; 1-3 business days for bank transfers

Why we chose it: Venmo makes it easy to send money to friends and family. Many people use it to split bills, pay for goods and services, and more. Venmo also has some interesting social features, allowing you to send emoji with your payments and view, like and comment on your friends’ transactions (unless they’re set to private).

With Venmo, you can use debit or credit cards, but there is a credit card transaction fee. Similarly, if you wanted to transfer funds from your Venmo account to your bank account within 30 minutes, you’d also have to pay a pretty steep 1.75% fee per transfer (this could cost you anywhere from $0.25 to $25).

One downside of using Venmo is that you can’t cancel payments once you’ve sent them. To get your money back, you’d have to ask the recipient to initiate a return.

Venmo scams are also quite common, so never give away your account information or verification codes. Scammers may also try to impersonate people in your contacts to ask you for money, so always double-check with friends and family when you receive any such request and consider updating your privacy settings. Some common Venmo scams include notifications you’ve won a prize or cash reward. Don’t click on links from people you don’t know on Venmo.

Most Secure: Google Pay

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Pros

• Secure and encrypted

• Free as long as you send money with a debit card

• Widely accepted in stores

• Accessible customer support

Cons

• Only compatible with certain banks

• The iOS app is only available in the U.S. and India

• The Android app only available in select countries

HIGHLIGHTS

Fees

Free for debit

Limitations

iOS only in U.S. and India

Customer Support

Phone, Chat and Email

Transaction Time

Minutes to hours for card transfers; 3-5 business days for bank transfers

Why we chose it: Google Pay allows you to securely send and receive money with just your phone and mobile wallet. It encrypts your data when you make online payments and doesn’t store your debit or credit card information in the app, but in a secure server. And when you register your credit cards, Google Pay automatically generates a unique virtual account number that represents each one, so your actual credit card account details always remain private.

Google Pay adds additional security by allowing users to set up a pin number or use biometrics to access the app. And those who also use Google Find My Device can lock their phone, log out of their account and erase their data remotely, keeping their payment details safe.

While you can make instant payments using Google Pay, you can only use Google Pay to send money in the U.S., India, and Singapore. So, if you’re considering this option, make sure banks where you live support it.

If you have any questions, Google Pay has accessible customer support via phone, chat, and email.

Best for Bitcoin Users: Cash App

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Pros

• Buy stocks or Bitcoin with the app

• Quick payments

• No foreign exchange fees or monthly fees

• Widely accepted

• Easy access to customer support

Cons

• You can only make international payments to the U.K.

• Scams are common

HIGHLIGHTS

Fees

Free for debit

Limitations

Only for the U.S. and the U.K

Customer Support

Phone, chat, on social, and by mail

Transaction Time

Instant card transfers; 1-3 business days for bank transfers

Why we chose it: Cash App is yet another app that lets you quickly send money to your contacts. However, one thing that makes Cash App unique is that you can use it to buy and sell Bitcoin and receive Bitcoin payments. And if you earn money selling Bitcoin, Cash App will send you a 1099 tax form.

Like the other options on this list, Cash App can be used with different types of devices. Additionally, customers have easy access to customer support via phone, chat, mail, and on social media.

A drawback is that you won’t be able to send money overseas except for the UK. Additionally, scams are common on Cash App. Sometimes, people will pretend to be Cash App customer service representatives in order to collect your private information. Overall, Cash App offers an easy way to move funds domestically.

Best for Banking: Zelle

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Pros

• Fast payment from one bank to another

• No fees

• Integrates with many banks

• No recipient bank account information needed

Cons

• Only available in the U.S.

• Not all banks offer Zelle integration

• You can’t register credit cards

• Limited support

HIGHLIGHTS

Fees

Free

Limitations

You can only connect one bank account.

Customer Support

Only supports App issues

Transaction Time

Typically within minutes

Why we chose it: Zelle is a unique payment system that integrates with thousands of banks. If your bank offers it, you can use Zelle to transfer money from one checking account to another without having to wait the standard 2-3 business days.

As with other money transfer services, you can leave payments you’ve received in your Zelle account, withdraw them or transfer them to your bank. And all you need to initiate a transfer is your recipient’s name, phone number or email address. As long as they have a Zelle account and their bank integrates with the app, you don’t need their routing number or account number. Zelle doesn’t charge any fees for sending or receiving money, but your bank may.

Keep in mind, you can’t send money with credit cards. Zelle is strictly for bank-account-to-bank account payments. Additionally, support is limited, and you will likely have to contact your individual bank if you have questions.

Best for Businesses: PayPal

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Pros

• Trusted for over 20 years

• Available in over 200 countries/regions

• Use it with many different accounts and cards

• Secure payments

Cons

• Higher fees than others on this list

• Dispute process can cause delays on transferring funds

• Susceptible to phishing and other scams

HIGHLIGHTS

Fees

Various

Limitations

Several different types of fees

Customer Support

Chat, Resolution Center, and Phone

Transaction Time

Varies, PayPal eChecks can take days

Why we chose it: PayPal is a well-known online platform available in 200 regions around the globe. The platform supports 25 currencies, including several cryptocurrencies, and is one of the most recognizable platforms for doing business in the U.S. and internationally. Business owners can use PayPal to support their business in numerous ways, from connecting it to their online store to sending invoices to clients. They can also provide account access to up to 200 employees.

One of the pros of PayPal is its convenience — you can link your account with many different banking and credit cards. This is also a great option for those wanting more security. Recipients won’t see your sensitive financial data, and PayPal offers Purchase Protection for buyers and Seller Protection for sellers.

One of PayPal’s major cons is its fees, which can be quite high depending on where and how you send money. For example, if you operate a business and use PayPal, customer payments are subject to a fee. Fees also apply when you send payments from your PayPal account to your bank account and convert currencies. These can add up and cut into your bottom line.

Another thing to keep in mind is that disputes can cause fund transfer delays, as it can take a few days for PayPal to review and settle disputes. Additionally, because the company is so well known, it’s common for scammers to send phishing emails posing as PayPal. If you receive a money request or invoice you don’t recognize, contact PayPal to verify the request’s legitimacy.

Best for International Payments: Xoom

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Pros

• Owned by PayPal and backed by the PayPal brand

• Use it to send money to 160+ countries

• Secure and fast payments

Cons

• Fees vary depending on your transaction

• Limited customer service options

• Requires verification paperwork for large transfers

HIGHLIGHTS

Fees

$1.99 and up, depending on type of transaction

Limitations

Higher fees than other apps

Customer Support

Phone, Contact Form, Mail

Transaction Time

Minutes to several days, depending on the destination

Why we chose it: Xoom is a money transfer company that allows users to send and receive funds from anywhere in the world. The service is available in over 160 countries, making it one of the most widely available options for people who want to send money to friends and family abroad. Unlike many international transfers, Xoom is fast and can often deliver funds on the same day.

Xoom uses security encryption throughout its website. Information you send is kept secure, including pages you view on its site. Xoom also makes it easy to track your transaction status so you know when your friends and family receive your payment.

Xoom differs from other money transfer services on this list because it offers several ways to send money. You can send funds from your bank account or debit card, send cash for pickup or have cash delivered to your recipient’s door.

Remember, though, that fees and restrictions may apply depending on where you’re sending money to, which could cost you more than initially expected. Additionally, if you want to send $10,000-$30,000, you must provide a social security number or passport. If you want to send $50,000-$100,000, you must answer security questions, provide a driver’s license or passport, and show a bank statement or paystub.

If you need help with your Xoom account or a transaction, the company offers email support in seven languages and phone support in seven languages. There’s no chat support, however, and you may incur international call fees if you call customer service — depending on your location.

Best for Exchanging Currency: Wise

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Pros

• Little to no fees, plus fee transparency

• Better exchange rates than others on this list

• Secure payments

• Keep money in many different currencies

• Send money to 70+ countries

Cons

• Not available in as many countries as other apps

• Features vary by country

• Charges fees on some transactions

HIGHLIGHTS

Fees

Vary by transaction

Limitations

Higher fees than other apps

Customer Support

Live chat, email, phone

Transaction Time

1-5 days, depending on payment method and currency

Why we chose it: Wise is a money transfer app designed to send money internationally. You can currently send money to over 70 countries. Wise is also fast, allowing you to send money in minutes to days, depending on where you are sending it. There are some fees for using Wise, but there are no subscription or hidden fees.

Wise offers competitive currency exchange rates and doesn’t apply additional transaction fees. Furthermore, transfer fees start at 0.41%, there are no regular account maintenance fees and you can withdraw up to $100 USD monthly. Another great feature is that users can transfer funds to recipients that don’t have a Wise account, they just have to provide the other person’s banking details. Bank transfers may be slower than with other money transfer services, however, taking up to a week.

Wise users may be the object of phishing attempts, so be wary of emails that appear to be from the company. Wise states that it always addresses users by their first name (as entered on its website) and will only redirect users to pages that start with https://wise.com. Users are also advised to check the spelling of the website, as scammers will often change a single letter to confuse their targets.

Other companies we considered

Western Union

Western Union was among the first companies that enabled people to send money worldwide. It’s convenient, quick and available in many different countries. However, you will pay significant fees to use it. Other companies on this offer the same services without the high fees.

Walmart2Walmart

Most people don’t know that Walmart offers a money transfer service that allows you to send funds to recipients at other store locations. The service is fast and inexpensive, but its main drawbacks are that it’s only available at specific locations and the funds must be picked up in person, even if you request the transfer from Walmarts’ mobile app. However, this is a good option for people who don’t have access to a smartphone, computer or bank account.

Jpay

Jpay is a money transfer service that allows friends and families to send money to loved ones who are in jail. Jpay is convenient and secure, but it does have fees. It didn’t make the list because it’s specifically for inmates, a narrow segment of the population. However, if you have a loved one who is incarcerated, it’s good to know this type of money transfer service exists.

Guide to Money Transfer Services

The following guide provides additional information on money transfer services, including how they work, how much they generally cost and what to know before using one.

Main things to know before choosing money transfer services

There are several different types of money transfer services available, from bank and wire transfers to remittance services and money transfer apps.

Most of the options featured on this list are online platforms or mobile apps that allow you to transfer funds from one account to another. To do this, you must first create an account with the company and enter your financial information — generally your debit or credit card details or bank account number. Besides transferring money, these services may also allow you to exchange funds into the recipient’s local currency.

Other, more traditional, money transfer or remittance services have brick-and-mortar locations. You’ll need the recipient’s information to start a transfer, and you can usually pay with cash or a debit or credit card.

Regardless of which type you choose, here are some things to remember when sending funds through a money transfer service:

• Different services offer different payment methods. Some let you use a credit or debit card, and others only accept bank transfers.

• Some money transfer services are free to use and some charge fees.

• When you’re sending money abroad, take exchange rates into account. Some money transfer services charge high exchange rates.

• If you need to transfer money fast, choose a service with same-day transfer times.

• Some money transfer services limit how much money you can transfer per day or transaction.

• Scams are prevalent with money transfer apps, so stay alert and use your best judgment.

What are the average transfer fees to send money?

Many money transfer options on this list are free, especially if transfers are from one person or bank account to another. Usually, you’ll have to pay some fees when sending money internationally or using a credit card.

How do money transfer services work?

Money transfer services let you send money to other people or businesses. The actual process and transfer times vary depending on the transfer method used.

For example, money transfer apps let you register your debit or credit card, a compatible bank account or digital wallet to move funds from your account to another. In most cases, transfers take a few minutes to a few days.

What are the requirements for a money transfer?

The requirements to send money may differ depending on your location and the money transfer service you use. Typically, though, you’ll likely need the information below.

• A credit card, debit card or bank account

• The name and account numbers of your recipient

• A phone, computer or an in-person location to make the transaction

• Depending on the country or region you’re sending money to, you may also need to provide an ID to verify your identity

Ways to send money FAQs

Is it safe to use a non-banking solution to send money?

Yes, using a non-banking solution to send money is safe if the money transfer company is reputable and encrypts your data.

To determine if a money transfer company is reputable, follow these steps.

1. Look for a service that uses data encryption to protect your personal and financial information.

2. Check to see if the money transfer company is regulated or states it follows specific regulatory guidelines.

3. Read reviews from other customers to get an idea of their experiences with the service. Look for complaints about scams or security problems.

4. Research the company behind the service to see if it has a good reputation in the industry. News articles can give you an idea of the company’s trustworthiness.

Overall, use common sense when sending money online. If something makes you uneasy, don’t initiate the transfer.

How to know if a money transfer service is legit

Here are a few things you can do to determine whether a money transfer service is legit: Be wary of services with a ton of negative reviews Research the company behind the service Check to see if the service uses data encryption to protect your personal data

How to avoid money transfer scams

Scammers trying to get you to share personal information like your name, address or account numbers can be very convincing or even pose as people you know. Always double-check account numbers and contact details before making large transfers.

Also, don’t click on links or download attachments from people you don’t know, as these could be phishing emails.

Lastly, if you’re wiring money for a big purchase, like the downpayment on a house, check and double-check with your bank and realtor to ensure you have the correct information. Scammers sometimes scan emails and pose as real estate agents to trick people into sending them the money instead.

How can you apply for a loan in money transfer services?

Most money transfer services don’t offer loans, they simply move funds from one account or person to another. One notable exception is PayPal, which offers business loans.

If you’re looking for funding to help your business grow, look into startup business lines of credit, or check out our guides to the best LLC and working capital loans.

Does international money transfer have a fee?

Yes, money transfer services generally charge a fee for international transfers. Fees will depend on how much money you’re sending, where you’re sending it and how quickly you want it to arrive.

How we found the best ways to send money

To find the best payment transfer services, we took into account the following factors:

• Security features like whether or not payments are encrypted

• Availability of the service across the globe

• Customer support features and consumer reviews

• Unique features and additional services

Above all, we kept you, the consumer, in mind when selecting the best ways to send money.

Summary of the best ways to send money of 2023

• Venmo – Best for Paying Friends

• Google Pay – Most Secure

• Cash App – Best for Bitcoin Users

• Zelle – Best for Banking

• PayPal – Best for Businesses

• Xoom – Best for International Payments

• Wise – Best for Exchanging Currency

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