![]() We noted these features with a brief explanation, and you can learn more by visiting the respective app's website. In addition to these baseline requirements, some of the above apps offer additional standout features like social sharing, investing capabilities and flexible payment options (such as the ability to pay over time). Each app on this list has at least 1,000 reviews in both the App Store (for iOS) and on Google Play (for Android), as well as a rating over 4 stars (out of 5) on both platforms. User reviews and ratings: All of the apps in our round-up have a sizable number of user reviews and high user ratings.Security: We chose apps that have at least two security features, including two-factor authentication and fraud detection.Features: The apps on this list offer a variety of perks, including quick transfer speed of under five business days and the ease with which you can connect the app with your bank account.Pricing: Each app on our list offers low-cost (or free) standard checking account transfers and only charge higher fees when linking to credit cards as a payment method and/or requesting express money transfers.To determine the best money-sending apps, Select analyzed over a dozen options offered by the top companies in this market and narrowed down our ranking by only including apps that meet the following criteria: If you do it afterwards, youll need to tell us by submitting a form in branch. You can do this either when you apply for your account or afterwards. Here’s how to do it: First of all, let us know you’d like to switch. Some apps offer additional protections, like QR-code scanning, text or email verification, unique user IDs and profile pictures to ensure the right person is on the receiving end of your payment. If your bank or building society hasn’t signed up to the Current Account Switch Service, you can switch to us manually. And unlike cash, digital payments cannot be lost.īecause digital money apps allow you to send money to anyone with an account, the one caveat is that it can be easy to send money to the wrong person if you're not careful. ![]() By signing up for a money transfer app, you are, in essence, making it possible for anyone to send you a digital payment without viewing any of your secure account information, just your user ID or email address/phone number. Likewise, using a money app is safer than writing a check because it will not expose your bank account number and routing number to the person who receives it. Money apps are arguably safer than cash since most require you to create an account with a password and two-factor login methods (such as sending verification codes) to verify your identity and the person you are sending money to.
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