Searching for the best cash apps?
Digital currency is a king now and the most popular way to send and receive money. It‘s modern, accessible, cheap or free, user-friendly, and much easier than keeping track of dollar bills.
If you’re wondering which of the five primary digital payment apps to go for, you’ve come to the right place.
In this article, we will discuss the immediate benefits of each app, its features, and help you determine which one suits your needs and lifestyle best in a simple, easy-to-digest way.
You may connect your bank account, credit card, or debit card directly to your money app and then use that app as a type of digital wallet to send, transfer, or receive money.
All money accounts allow you to directly access the money that is in your linked accounts (or cards), but they can also hold money on their platform for you as an added convenience.
Some accounts are good for direct payments, and some platforms even offer unique features such as early deposits, FDIC insurance, and more.
The Venmo platform is owned by PayPal and is intelligently designed with an exceptionally user-friendly interference. And it is — over sixty-five million people use Venmo.
You can use Venmo to make purchases through the app, online, or in person. Most people use it to replace cash transactions among friends and peers. You can use it to split a bill at a restaurant, send your roommate your portion of the rent and utilities, or simply send money to a friend or family member.
All of these actions are fee-free, making them appealing to consumers. Many people particularly find their two-day early payday useful.
Small businesses sometimes use Venmo to collect payments, though that feature does come with a minor fee.
Venmo does have its limits:
PayPal was one of the first digital payment services founded in 1998. Now, it’s used in over 200 countries by almost 400 million customers.
PayPal is available as an app for Android and Apple users and can also be accessed online through the website.
It’s a great way for friends and family members to send and receive cash or move money between banks and card accounts. In addition, it’s fee-free for consumer-to-consumer transactions, with a small fee for business-to-business or business-to-consumer transactions.
You can use PayPal by accessing their app or website, pay in person using PayPal payments, or through a QR code. You can also send or request money using your unique PayPal.Me link or QR code.
Money pools are also available for groups of people to use, which can be handy.
Cash App allows users to pay friends, family members, and businesses, as well as transfer money amongst personal accounts or even invest in stocks and cryptocurrencies with as little as $1.
It’s free to send and receive money in a C2C setting.
Cash App also allows users to get a couple of days early from their paycheck.
In addition, ATM withdrawals are free when users have at least $300 coming in or being spent through Cash App.
Cash App also offers a customizable, fee-free debit card that provides users with multiple instant discounts for day-to-day spending.
Cash App international fees do not exist as the app is only available in the US and UK.
Apple Pay Cash is owned and operated by Apple and is an add-on for iPhone consumers.
Apple users can use it for free, and retailers are not charged a processing fee.
It’s widely used, though not very popular amongst vendors, making it unhelpful when purchasing from smaller businesses.
Google Pay is the result of a merger between Android Pay and Google Wallet. Over 150 million users across 30 countries use Google Pay. Additionally, it’s estimated that over 100,000 restaurants (from large chains to small and family-owned) and 30,000 gas stations use Google Pay.
Google Pay stores credit and debit cards and bank accounts, loyalty cards, gift cards, coupons, several forms of ID, boarding passes, public transportation tickets, event tickets, and more. Like Apple Pay, Google Pay used NFC technology to make payments through the tap to pay technology.
Users can send, receive requests, or transfer money from other Google Pay users. One unique feature of Google Pay is that money received is sent directly to your card or bank account rather than being kept on hold.
In addition, it’s easy to check your transaction history with Google Pay.
Google Pay can also be used online and for in-app purchases.
Another unique feature of Google Pay is its budgeting tools. They provide a list of transactions for you in an easy-to-view way. Google Pay can also be linked with your Google photos account. With that link, it can scan your photos for receipts and then automatically link them in your budgeting section.
Does Google pay charge fees? Yes, but only for instant transfers.
Venmo is a better option for sending money to friends and family quickly.
On the other hand, PayPal is better for more secure, safer transactions. It’s also more suitable for small businesses.
Is Cash App better than Venmo? It depends.
To simply send and receive money in a C2C way, Venmo is the best choice.
To invest in stocks or Bitcoin or get fast, easy direct deposits, Cash App is a better option.
While both are pretty comparable, Apple Pay Cash is better if most or all of your friends and family members have iPhones.
If you have several friends and family members who don’t use newer iPhones (iPhone 6 or higher), Venmo is a better choice.
While both are pretty similar, Google Pay is better if most or all of your friends and family members have Android phones.
If you have several friends and family members who don’t use current Android phones, Venmo is a better choice.
Cash App is the best way to send and receive payments locally.
PayPal is the best way to send and receive payments locally and internationally. PayPal is also a better option for merchants.
Is Cash App better than PayPal? It depends on your needs.
PayPal is a better option for most friend groups who have a variety of phones (as in, not all are iPhone users). It works locally and internationally. It’s best for people who want to use the service for credit and debit cards, as well as bank transfers.
Apple Pay Cash doesn’t support bank transfers and can’t be used by people without a current iPhone. With that said, most iPhone users whose friends and family use Apple products, prefer Apple Pay Cash.
PayPal only has 2.9% credit fees, while Google Pay charges up to 4%.
On the other hand, Google Pay only has 1.5% debit fees, whereas PayPal charges 2.9% fees.
Cash App and Apple Pay Cash both offer free transfers. Though Cash App charges 1.5% for instant transfers, while Apple Pay Cash only charges 1%.
Then again, it takes 1–2 business days for withdrawals for Cash App, and 1–3 business days for Apple Pay Cash.
Generally speaking, Google Pay is best for friend groups that mostly use Android devices. Cash App is better for mixed phone friends and family groups.
Cash App’s transfer limit is $7,500 transfer, while Google Play has a cap of $5,000.
Apple Pay is the choice for people who want to transfer money to other iPhone users.
Google Pay is the best selection for those who want to transfer money to other Android users.
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