Apps That Can Pay You Real Money
Real money slot apps can deliver the action that slot machines provide without any of the hassle. As long as you have a connected device of some kind, such as a phone, tablet or smartwatch, you’ll be ready to spin and win. And when we say win, we mean that you can indeed win huge jackpots as if you were playing in the casino.
Gambling Apps where you play casino games and win real money have become all the rage in the mobile gambling world. It makes sense that apps that simulate slot machine play would be popular as well, especially since many casino-goers prefer slots above all else. You can play slot games for money with these apps and get the same kind of excitement as you would from a live casino.
If you are playing a real money slots app for a small amount of time, luck will drive your winnings upward or downward. But once you play for a long amount of time, you can expect results closer to the payback percentage. For some people, all they want to know about the real money slots apps is how much they can win on a single spin. You can use Apple Pay to transfer money to and from family and friends, make purchases online, in app, and in store where the Apple Pay logo is displayed. International Support Apple Pay is supported in the U.S., Canada, Brazil, the United Arab Emirates, Australia, New Zealand, China, Singapore, Hong Kong, Taiwan, Japan, and in most countries. Apr 03, 2021 The 90 Best Money Making Apps of 2021 Apps that Pay You to Play Games 1. Mistplay is one of our favorite apps here at YMG! The app lets Android users easily make money while having fun and playing mobile video games.
With over 10 million members, high ratings from real app users, an excellent score on Trustpilot, and a minimum payout of just $5, Survey Junkie is a must-have money making app. Minimum withdrawal: 500 points gets you a $5 transfer to your PayPal account or can be redeemed for gift cards.
Online Casino | Bonus | Get Started | |
|---|---|---|---|
| 1 | 100% up to €250 | Go to Site | |
| 2 | Betway | 100% up to €250 | Go to Site |
| 3 | 100% up to €400 | Go to Site | |
| 4 | PlayAmo Casino | 100% up to $1500 | Go to Site |
| 5 | 100% up to $1,000 | Go to Site |
There are many of these online slots apps available to you, as you’ll find out when you search in the app store. The key is knowing how to find the right apps in terms of their reliability and potential for payback. Otherwise, you could end up having a poor experience as you’re trying to win big.
In the following article, we’ll tell you everything you need to know about these real money slot machine apps. We’ll explain how they work and the different types of mobile slot games you can get from them. We’ll also explain how to find the best slots apps to make the most out of your mobile gaming action.
Best Slot Machine Apps for 2021
Don’t make the mistake of thinking that it’s a good idea to sign up for the first real money slots app that you find. Take the time to find what the best slots apps are first. It’s an important choice for you to make, since you’ll have real money at stake.
We’re going to help you with that decision. After doing the research and checking out all the top casino slots apps, we’ve narrowed it down to the following list when it comes to the best slot apps. Check it out below.
Why is it important to know which real money slots apps stand out above the rest? Well, you can’t take the chance with a lesser site, especially when you consider all the things that might go wrong. You can have personal information compromised or the money that you used to fund your account can be lost or stolen.
Even if those worst-case scenarios don’t take place, you could still end up having an experience that is less than ideal. Why settle for a mediocre experience when you can have the best? The mobile online casinos with slots listed above can give you that kind of premium experience that you’re craving when partaking in online gambling.
How Slot Games Work on Real Money Casino Apps
It’s a good idea to have a feel for how online casino apps work before you get started. Having this knowledge will help you make the right choice when it comes to picking the app that’s best for you.
Method of Play
In terms of slots apps that pay real money, it’s pretty much the same thing as if you were in a casino. Once you’ve allotted a certain amount of money for play from the bankroll that you’ve established at the app, you’ll make a wager. You’ll then hit the button on the screen to activate the spin.
You’ll see the reels spinning as if you were playing within a live casino. And if the reels make one of the winning combinations listed on the pay table, you’ll win actual money in return for what you’ve bet.
As for how those reels spin, it’s the same process as you would find in a casino. Random number generator software within the game will determine the outcome the moment that you hit the button. The “spin” is just for show.
Multiline Action
One thing that you’ll find when playing slots apps that pay real money is that they mostly resemble the types of multiline video slots that dominate casino floors these days. You’ll see a grid on the screen with three rows full of five symbols each. And these different lines allow you multiple ways to win.
You can wager on as many lines as the real money slots app in question allows. When you do this, you’ll not only have chances at winning based on the horizontal rows on the screen, but also on lines that zig-zag across the screen. Playing in this manner allows for a much faster pace and a much greater chance of winning a lot of money in a short period of time.
Special Features
Multiline slot games apps often include extra features which will pop up as you play. These features are usually activated by some sort of predetermined spin. This can be a combination of symbols or even a single symbol appearing in a particular place.
Some of the possible bonuses you can earn with these types of games include the following:
- Free spins: These allow you to win money with the right spins without risking anything while the bonus is in place.
- Multipliers: These do exactly as they sound, multiplying your winnings from what they might normally be according to the pay table.
- Special pay tables: These special pay tables usually offer more than what you would find on the normal one associated with the game.
Special features in real money slots apps make games a lot more fun to play and can really boost your winnings. Luckily, many of the top slot apps for real money offer these great features to you.
Choosing Slots Apps by Payback
If all other things are equal in terms of the app offering games, one of the ways you can choose is based on how much payback is expected. You can measure this in many different ways.
Payback Percentage
This is the easiest way to measure how a real money slots app will pay you back in the long-term. It is a percentage against a breakeven level of 100%. As it drops below 100%, the house edge rises.
Of course, this isn’t to say that your actual outcome will turn out that way. If you are playing a real money slots app for a small amount of time, luck will drive your winnings upward or downward. But once you play for a long amount of time, you can expect results closer to the payback percentage.
Jackpots
For some people, all they want to know about the real money slots apps is how much they can win on a single spin. Those thrill-seekers should then be in search of the games that have the highest amount on the pay table. If that’s you, you should also be aware of any special features or bonuses that can raise that amount even higher.
You might even be able to find certain real money casino slots apps that include progressive jackpots. A progressive jackpot is one that keeps rising as people play until someone hits that lucky winning spin.
Variance
Variance measures the kinds of twists and turns you might expect your bankroll to take while playing a particular game on a slots app. When you’re playing a game with high variance, you can expect those swings to be drastic and frequent. Meanwhile, low variance slots games will offer you steadier play.
Each of these types of online slots app games have strengths and weaknesses. For example, a low-variance game will give you a better chance to play for a long time on a small bankroll. You’d just have to accept that you’ll have less of a chance at winning a lot in a short amount of time.
High-variance slots apps to win money give you just those kinds of opportunities. But you also have to be prepared for the possibility that your bankroll could become depleted in a hurry. You can usually tell whether a game is high or low variance by the discrepancy between high and low-paying spins on the pay table; the bigger the discrepancy, the higher the variance.
Advantages of Playing on Real Money Slot Apps
You might be wondering, if slots apps resemble actual slot machine play so much, then why do they stand out? In truth, real money slot machine apps possess many advantages over their casino counterparts. Take a look at just a few reasons why you might choose them.
Convenience
This is the most obvious reason you would choose a slots app over an actual slot machine. With the slots app, you can take it with you wherever you go. If you’re fond of using apps on your smartphone, tablet, or smartwatch, you’ll quickly understand this.
Many people like to play casino games but don’t like the hassle of actually being at the casino. After all, that means dealing with the traffic to get there, the parking once you’re on site, and the crowds inside the place. With a casino slot games app, you don’t have to worry about any of that.
Portability
Casino websites can also provide you with slot machine play for real money without the need to be in the casino. But these websites often require you being at your computer to play them. If you’ve ever played slots games from a browser on a phone, tablet or watch, you know the experience can be a little lacking.
In addition, many people don’t like using their computer for gambling purposes. This is especially true if there’s any type of download necessary. With a real money slot app, you can keep your computer clear of all that.
Availability
When you go to a casino, you are limited to the slot machines that are there on the floor. Maybe you’ll be lucky enough to find the game that you want to play. But there’s a good chance that it either won’t be there or will be occupied if it is.
Apps That Pay You Real Money In South Africa
When you’re playing a slot machine app, however, you have your pick of any game you want by searching the app stores to your heart’s content. And you never have to wait for it to open up. It’s like you have an infinite virtual slot machine floor at your fingertips at all times.
How to Choose the Best Slots Apps
Earlier in this article, we gave you a list of what we believed were the best slot machine apps available to you on various devices. Even though you can’t go wrong choosing one of those apps, it would be a good idea for you to familiarize yourself with the reasons they’re at the top. That way, if you need to, you can make a choice on your own.
Here are some of the qualities that you should be seeking from potential slot games apps.
Reliable Payback
If you’re going to be playing online slots apps for real money, you’re going to want to make sure that the money owed to you can be collected at some point. This means that the app possesses a system of deposits and withdrawals that is easily understood and clearly detailed. This will put your mind at ease as to whether you’ll be able to enjoy the fruits of your slots apps play.
Funding Flexibility
When you sign up for a real money slots app, the first thing you’ll have to do is decide how you want to fund your gambling. The best slot apps to win money give you many different options to do this, so you’re not boxed into using a payment method that doesn’t make the most financial sense to you.
Sights and Sounds
If you want the same excitement from slots apps for real money than you would get from an actual slot machine, you’ll want the same kinds of graphics, albeit on a smaller scale. The best slots apps can make you feel that same kind of rush when you hit a jackpot and see the lights and hear the sounds. In addition, these online casino slot apps can also bring you some of the intricacies of themed slot machines onto your small screen.
Big Bonuses
You’ll want slot apps with real rewards to give you a little something extra for your gambling dollar. That could come in the form of deposit bonuses or other free perks. Our list of best slot machine apps for real money even contains slots apps with free spin bonuses. Any app that doesn’t offer something to you for your business should be avoided.
Error-Free Gameplay
One of the concerns with inferior slot machine apps to win real money are technical problems. Imagine the frustration of being on the edge of a winning spin only to have the game freeze. With the most reliable real money slots apps, you don’t have to worry about it.
Helpful Customer Service
Even with a reliable slots app, you might end up having concerns, questions, or problems. The best apps are backed by outstanding customer service that will do whatever they can to help alleviate your issues. These customer service agents should also keep in steady contact with you to let you know about any new promotions or offers.
If you use these six qualities as a kind of checklist, you can be relatively sure of choosing a solid real money slots app. You’ll put your mind at ease with a little bit of research. And the effort it takes to do that will be well worth the peace of mind you’ll get out of it.
Where to Find Online Slots Apps
App Stores
Whether you’re an Apple fan, an Android user, or a devotee of another company, you’ll likely have an app store at your disposal where you’ll be able to download real money slots apps. It’s just a matter of searching these stores for the slot apps in which you might have the most interest. Most of these stores will have rating systems, based on customer reviews, that you can use to judge these apps.
Once you find real money slots apps for Android or iPhone, you’ll have to download it onto the device. Ideally, your favorite real cash slot apps will be ones that can be used on multiple devices. That way, you’ll never be without them in a pinch. If you aren’t looking for real money play, you’ll also be able to find free slots apps in any app store.
Casino-Based Apps
Most major casinos within the United States and throughout the world possess some sort of online component to their business. From there, it’s only a small leap to expect them to also have a gambling app of some kind. And it stands to reason that these apps will devote much of its space to slots games.
When you come upon the app listed on a casino website, clicking on it should take you right to an app store. If you use an app tied to a casino, it’s possible that any gameplay that you enjoy could be counted in loyalty rewards programs. Therefore, if you go to a certain casino a lot, it might make financial sense for you to choose a real money slots app from there, if there is one, in order to take full advantage.
Compatibility
You should never overlook this issue when it comes to choosing the right slots app. After all, you might find a real money slots app with great bonuses and a wide selection of slots games. But if it doesn’t work on your preferred device, it won’t do you a lot of good.
Therefore, choosing from the above list of Android and iPhone slots apps should be pretty safe for you in terms of compatibility. But if you go off the board a bit, you could run into some problems with using an app on the device of your choice.
Real Money Slots Apps FAQ
Slot machines are one of the casino games where luck is the driving factor. There isn’t anything you can really do to change your odds. Your chances are determined by the pay table and the predetermined frequency of winning spins.One way you can control your slots apps play in a way is to choose your game wisely. If you choose a game that’s tuned into what you’re hoping to get out of it, such as long-term success or perhaps short-term high payouts, you’ll have a better chance of getting the results that you want.
As we just mentioned, there is no way to apply strategy to your slots play. You just have to hit the “spin” button and hope things work out in your favor. But there are ways to mitigate the edge that the house has against you.One of those methods is to sign up for multiple free to install slots apps. If you do, you can get bonuses from multiple entities. When you apply those to your gameplay, you could cut into your projected losses. That can certainly help in the long run.
Ideally, you’ll be able to find your favorite slots variation on a top app, so that won’t normally be a dilemma. But if you find your favorite game isn’t available at one of the recommended real money slot apps, you might want to broaden your horizons and choose a different slots game.The bad things that could happen when you choose an inferior site could easily outweigh any positives you get from your favorite game. It’s better to choose a solid slots app and then adjust to a different game. In that way, you’re protected from the negatives and can still enjoy the benefits that online slot machine apps offer as a whole.
Conclusion on Mobile Slot Apps
We hope that you now have a hold of the basics of real money slots apps and are ready to explore a little bit more. Take your time choosing your app, first and foremost. Then, get ready to enjoy all the action.
Does anyone carry cash anymore?
A recent study estimated 79 million adult Americans will use peer-to-peer payment services in 2019. This is an increase of 24 percent over last year, according to eMarketer, a market research company.
Why?
Because it’s never been easier, cheaper, and more efficient to send money online. Thanks to tons of free apps and minimal fees (if any!), these apps make it much easier than going to the bank to get cash.
Plus, it’s never been safer as companies make a huge effort and spend millions of dollars to protect your financial identity online. The best part though, is the convenience.
You don’t need to go to the bank’s ATM, try to avoid fees, break change at dinner, and worry about not having cash anymore.
12 Best Send Money Apps
Here’s everything you need to know about the best ways to send money, how to send it internationally, and some other best practices.
1. Apple Pay
Apple Pay may be the simplest way to send money if you use an iOS device.
Before you get started, you will need to add your debit card to your iOS device. You can quickly access those settings by going to Settings and then scrolling down to Wallet & Apple Pay inside any iOS device.
| Sending or Receiving Money Apple Pay | ||
|---|---|---|
| Apple Pay Send and Receive Limits | Minimum | Maximum |
| 7-day period | $1 | $10,000 |
| Per message | $1 | $10,000 |
To request payment or send payment, simply create a text message for the person you are paying or requesting money from. Inside your text messages and right above the keyboard is a series of icons to choose from. Click on the one that has the Apple Pay logo. If you’re sending payment, you will need to enter in your password (fingerprint or retina scan) and the money will be sent instantly.
Note: This will only work with iOS devices.
2. Venmo
Venmo is a money transfer app that is actually owned by PayPal but operated separately. It’s more of a social sharing and payment platform than PayPal. This is my personal preferred method of sending money online.
One of the biggest perks is that it is 100% free if you send money from a bank account. If you choose to add a credit card and transfer money, there is a small fee as they have to deal with credit card processing fees. These fees are around 3% if you opt to use a credit or debit card.
All you need to send money is to make sure that both people download the app. Once you select an amount, type in what it’s for and push send.
| Venmo Limits | |
|---|---|
| Sending/Receiving money to Venmo users | $2,999.99 weekly limit |
| Sending/Receiving money authorized merchants | $2,000 per purchase (max 30 per day) |
| $299.99 max for first-time users | |
The money will arrive instantly and can be transferred to your bank account within 2-3 business days. Plus, if you don’t have your app you can also pay with Venmo from their website.
Venmo is more of a social app than the others as you can see who is sending who money. But don’t worry, the amount of money you send isn’t displayed. If you don’t want others to see your activity make sure to log on to your profile and change these settings.
3. Google Wallet
Google Wallet is a very simple way to send money as the other person doesn’t even need to download the app. To get started sending money, log into your app and add your debit card or bank account information.
All you need is the email address or phone number to use the app to send money. As long as they have a Google account with a linked bank account or debit card, the other user can withdraw the funds. The max amount is $9,999 per transfer or $50,000 over a 5-day period.
| Google Play Limits | |
|---|---|
| Single Transaction | Up to $10,000 |
| In 7 days | UP to $10,000 |
| Florida residents | Up to $3,000 every 24 hours |
| Transactions over $2,500 | Recipient will need to add a bank account to claim the money |
A big plus with using Google Wallet is the amount of security you receive. As Google is one of the largest companies in the world, the security matches. Plus, if you somehow lose your phone you can disable and have the app removed from your phone from logging in online.
But, a major downside is that you aren’t able to pay using a credit card. Also, the bank transfers can up to 10 days!
4. Facebook Messenger
In Facebook’s attempt to take over the world, you can now use the social media sharing platform to transfer money not just mindlessly scroll through your newsfeed. They make it very simple to send money via the Messenger app.
All you need to do is download the app (if you haven’t already) and find the person you want to send money too. Hit the “$” sign in the chat and enter your debit card to complete the transaction. Once the other user receives the money they will also need to add a debit card to withdraw the funds.
As Facebook is worldwide, I was surprised to learn that you can only use this app to send money if you are both located in the United States. If you’re worried about safety, Facebook does allow you to add a pin and extra verifications once you add your debit card. The entire transfer process takes 1-3 business days.
Even though it’s a social media app don’t worry, your payment details aren’t displayed anywhere on your profile.
Note: Facebook messenger limits vary from country to country.
5. Square Cash
Square Cash is another app that allows you to send money to family and friends 100% free. You can use the app in two different ways. If the other person has a Square Cash account you can ask for their “cash tag” and do a money transfer. If you don’t have an account you can still pay by iMessage and Siri as well.
When you transfer money with Square Cash there is a service limit of $250 per week. But, if you go through the short verification you can increase your limit to $2,500!
| Square Cash Limits | |
|---|---|
| Send money | $250 per week |
| Recieve money | $1,000 per week |
| Increase send limits up to $2,500 when you verify your account | |
The only real downside to using square cash is that you can’t use the service if you are outside the United States. Otherwise, it’s a very comparative payment option to Venmo.
If you run a business and want to use Square Cash they also have several options that allow you to use the app for payments.
6. Dwolla
Dwolla is a money sending app that allows you to transfer money from your bank account to others for a nominal fee. If the transfer is under $10 you won’t have any service fees and anything over is only .25 cents!
The max amount of money you can send from Dwolla is $5,000 for personal accounts and up to $10,000 for business accounts. All you need is the Dwolla ID of the other person/business, email, and phone number. If the other person doesn’t have an account yet it will prompt them to sign up for free.
| Dwolla Limits | |
|---|---|
| Personal Account | Send up to $5,000 per transaction |
| Business, Non-profit, and Government Accounts | Send up to $10,000 per transaction |
| You can apply for increased limits anytime. Approval is based on Dwolla's discretion. | |
Like Square Cash, Dwolla also has several business options to help you send money at a very minimal cost. You can receive higher limits, next day transfers, and better customer support. This is the best money sending app if you are wanting to use a money sending app for your business as well.
7. Zelle
Zelle is a great app to send money but you need to have an account with participating banks or signing up at clearxchange.com. They are becoming increasingly popular with the bigger banks joining clearxchange.
There are currently over 400 banking partners with Zelle.
Here are a few of the bigger participating banks:
- Chase Bank
- Wells Fargo
- U.S. Bank
- Capital One
- Ally Bank
- Bank of America
To send money all you will need is the recipient’s email or phone number. Check with your bank to learn how to sign up for Zelle today or register at clearxchange.com.
Note: Limits to send money via Zelle are created by your own bank or credit union. If you use Zelle outside of your bank, the send limit is $500 per week.
8. Popmoney
While not as common as the other apps above, Popmoney is another app that lets you send money online. Popmoney has partnered with numerous banks and credit unions to send and request money from your mobile banking app.
Here are the current limits for Popmoney:
| Popmoney Send Limits | |||
|---|---|---|---|
| From your | Fee (free to receive) | Limit per day | Limit 30 days |
| Bank Account | $0.95 | $2,000 | $5,000 |
| Debit Card | $0.95 | $500 | $1,000 |
| Pop Money Receive Limits | |||
|---|---|---|---|
| Request Money | Fee (free to receive) | Limit per day | Limit 30 days |
| Pay a request | Free | $2,500 | $4,000 |
| Send a request | $0.95 | $1,000 | $2,500 |
Best Apps That Pay You
You can send money to someone else who has Popmoney for free. Otherwise, it is only .95 cents to transfer the money.
9. PayPal
PayPal is one of the oldest and first apps to help send money both domestically and internationally as they are the preferred method of payment for eBay before being acquired by them.
Apps That Pay You Real Money
If you have a personal PayPal account you can send money free as long as the other person has a personal account. While you can transfer from a business account, there a few more steps to open the account and transaction fees as well.
To send money, log on to the app or website and make sure you have the intended recipients phone number or email address. You can choose to send the money from your bank, debit card, or credit cards. If you use a PayPal balance or your bank account there are no transaction costs.
But if you choose to use a credit or debit card there is a 2.9% fee plus 30 cents. The fees are even higher when sending money abroad. Two major perks are the security and total amount (up to $10,000) to send money.
Plus, PayPal is on the send money apps on the list that allows you to send money internationally. Below are the most common ways to send money outside the United States.
Note: There is no limits on sending or receiving money via Paypal with a verified account (linking your bank account or credit card).
10. Walmart 2 Walmart Transfers
Walmart is a great place to shop and save money each month for your budget. Now you can also send cash! This is a cheaper option than using Western Union or Moneygram. Plus, it’s convenient as you might already be shopping there on a regular basis.
You can use their transfer service to send to other Walmart’s around the country. The maximum amount you can transfer is $2,500 and costs vary depending on transfer amount.
A potential downside is that not every Walmart does offer the transfer service although a majority do. Make sure to check their website to ensure your Walmart does offer the money sending service.
11. Cash
If you’re old-fashioned or sell some stuff as a side hustle and have extra cash, you can still pay the old school way. While I’ll never recommend sending cash in the mail, it’s still an option. If you do, make sure that the postage is insured just in case!
Otherwise, I recommending switching to one of these send money apps to increase your security and not waste time finding the closest ATM.
12. Bank Transfers
While it’s not an app like most of the others on this list, you can still use old-fashioned bank transfers to send money to friends or family if you have the same bank. If they bank at a different establishment there is almost always a transfer fee which can range depending on institutions and overall amount.
Transaction fees are the main reason I don’t recommend using bank transfer to send money as you can avoid it with most of these apps.
8 Ways to Send Money Internationally
The methods above making sending money easy, but when it comes to sending money internationally it’s not always as simple but still easier than it ever has been. It is more difficult because of higher regulations, fraud, and different banking operations.
Here are the best and cheapest ways to send money internationally.
1. PayPal
As I mentioned, PayPal is one of the most secure and best ways to send money online. When you use a bank account there is a very small processing fee and a higher fee if you choose to use a credit card as the form of payment.
Depending on where you are located it might even be cheaper to use a credit card instead of a bank account. Make sure to compare both before hitting send.
PayPal is very easy and very secure as it’s payment giant. But, there are some restrictions that don’t make it always the best experience. Depending on location and verification you can only send limited amounts of money.
If you try to do more or PayPal thinks it’s fraud, they can freeze your account and make it difficult to reopen. Usually, you will have to contact a call center and go through additional verification steps before sending money.
2. TransferWise
TransferWise is a U.K. company that allows you to send money internationally to select countries. The best part is that the fees are minimal and you only pay the actual exchange rates. Plus, the daily amounts are incredibly high compared with other platforms!
There is a $50,000 daily limit and $250,000 annually. If you do business internationally this is also a great option as you can send $250,000 daily and $1 million per year!
If you want to start download their mobile app today.
3. Western Union
Western Union has been a way to send money internationally for decades and is the biggest money transfer company in the world. To send money you can go into one of their locations internationally, use their app or their website.
You can choose to use cash or a debit card to fund the money transfer and can be direct deposited or picked up by the recipient at a Western Union location. The delivery options make this one of the biggest perks along with low fees and a very small exchange rate markup.
The biggest downside of using Western Union is the costs and delivery time. The cheaper the transfer usually the longer it will take to be delivered.
4. OFX
OFX is very similar to Transferwise and doesn’t charge fees regardless of how much money you are sending! They make their money by taking a cut on the exchange rate for transfers.
They are also great if you are transferring a large sum of money as the minimum amount to transfer is $1,000. This is relatively high as others on the list have a minimum between $50-$100.
Another perk of using OFX to send money internationally is that you get a discount the more you use the service. If you are sending money abroad on a regular basis, this can help save you tons of money over time. Unlike Transferwise, they do not have daily limits and have incredible 24-hour support if you are having any issues.
Get started with OFX today!
5. MoneyGram
MoneyGram is a large money sending platform that operates in over 200 countries and has 350,000 locations! They are the biggest competitor of Western Union and offer the ability to send money to other locations and have the money picked up almost instantly.
What’s the catch with using Moneygram?
The fees.
If you send between $200 and $1,000 the costs will range from $10-$25 and exchange rates can make it even worse. The average exchange rate adds another 1-6% on your transaction fees. This can add up if you are regularly sending money abroad!
6. Xoom
Xoom is the sister app of Venmo and also owned by PayPal. Think of them as the Venmo abroad.
While Xoom doesn’t service as many countries as Western Union or Moneygram, it does makeup in how fast the transfers happen. They still operate in 70 countries and allow you to send up to $25,000 to some countries.
You can choose to pay with credit card, debit card, or bank account and most transfers happen instantly.
The biggest downside?
High costs when using your debit or credit card. Depending on where you are located it can be a substantial amount.
If both parties are using bank accounts this is one of your best options! Make sure to check out their free online calculator to help you evaluate the fees before sending money abroad.
7. Wire Transfer With Your Bank
One of the easiest but not cheapest ways to send money online is a traditional wire transfer. You will have to deal with bank fees and depending on the bank, an exchange rate markup. The transaction can take a few days due to banking regulations and where the money is being transferred.
If you are transferring a large amount of money this is the option I would recommend. While it is more expensive it’s also much more secure.
Most Frequently Asked Questions About Sending Money Apps
Here are some of the most commonly asked questions to help ease your financial concerns about sending money online.
How long will my transfers take to complete?
It depends on each of the apps and providers. Some will help you send or receive money faster than others. Generally, it will be between 1-3 business days while some take closer to 3-5 days. Remember that if you transfer money on a weekend or holiday it will take longer to complete the transaction due to banking regulations.
Is this safe to transfer money through an app?
Yes, security is a major concern. Like anything online, there is always a small risk but these companies spend millions on advanced software and highly qualified engineers to ensure you are protected.
That being said, make sure to review your bank accounts and app usage to ensure there isn’t any charges you don’t recognize.
What are the main types of fees with these apps?
There are two main fees associated with sending money through apps or bank transfers. The first is the transfer fee which can be a percentage of the total amount, flat fee or a combination of both like PayPal.
The other fee is the exchange rate markup that only occurs if you are sending money internationally. These fees will differ from each app and depend a lot on the currency you are using.
Some companies, like OFX, don’t charge transfer fees but instead take a cut of the exchange rate markup. Make sure to double check these fees as different countries have very different costs associated with them.
Final Thoughts on Best Sending Money Apps
As you can see, it’s never been cheaper and easier to send money to friends and family. Domestically there are plenty of options. I personally love Venmo but after researching this post other top recommendations include Apple Pay, Google Wallet, Zelle and PayPal. If you want to send money domestically and prefer a brick and mortar go with Western Union, Moneygram or Walmart.
When it comes to sending money internationally this might require a little more research on your end as fees can vary between different companies. My biggest piece of advice is to use the one that is the cheapest by making sure you are shopping around.
Lastly, try not to use credit cards for sending money as most of these charge higher fees than a debit card or bank account. Any extra money you can save the better!
What is your favorite sending money app for friends and families? Have you ever send money internationally with an app or were you worried about security?
Let us know in the comments!