By KBC Associate 
Payment apps like Cash App, Zelle and Venmo have revolutionized how we handle money.
These apps help us split dinner bills and bar tabs, settle up with the babysitter and chip in for the office potluck. They make it remarkably easy to send money from everyone to our landlord to our grandma — and they’re only getting more popular.
If you’re new to the world of sending money digitally, or used to relying on the recently-shuttered Zelle app, choosing what to download next can feel pretty overwhelming.
We’ll help you sort through the options.
Cash App
Cash App is a financial services platform that lets users spend, receive and store money. You get a unique $Cashtag (aka username) upon signup, and the ability to transfer funds to customers with a phone number or email address.
How does Cash App work?
Cash App is available for download in the Apple App Store, Google Pay and on the Cash App website. To get started, you need to be at least 18 years old — though teens 13 and older can also use the app if they’re sponsored by a parent or guardian.
Cash App’s interface is user-friendly and its many functions are easy to navigate. Most users download the app to send and receive money, but it has a bunch of other features too. Cash App charges a $2.50 fee for ATM withdrawals, but this fee can be waived at in-network ATMs if you receive direct deposits of $300 or more each month.
Sending and receiving money from a linked bank account is free and instant, and typically takes one to three business days. Similar to other apps on this list, there’s a fee for instant withdrawal. On Cash App, that fee ranges from 0.5% to 1.75% of the transfer amount, with a minimum charge of $0.25. You’ll also incur a 3% transaction fee if you send money with a linked credit card.
Pros and Cons
Pros
- The app has lots of additional features, like early paycheck direct deposit, savings accounts, and free tax filing
- Standard bank cashouts are free, and there’s no fee to transfer money from your Cash App balance or a linked debit card
- Eligible, identity-verified customers can send up to $10,000 per week and up to $20,000 per month
Cons
- Some of the app’s services, like bitcoin trading, come with extra charges
Venmo
Venmo is a standalone payment app that combines digital money transfers with a bit of social media. You can share and like payments with friends through a social feed, but the dollar amount for each transaction always remains private. If you prefer to keep your transactions private, too, you must update your privacy settings.
How does Venmo work?
Venmo lets you send, receive and request money from anyone with an established Venmo account. You can also pay with Venmo at online retailers in the U.S. including JetBlue, TikTok Shop, Ticketmaster, CVS, and more, using your Venmo balance or linked bank account, debit card, or credit card.
You must be 18 years or older to use all of Venmo’s functionalities, but teens can use a version of the app with parental controls. You can download the Venmo app from any Android or iOS smartphone.
Like its competitors, Venmo charges credit card and instant bank transfer fees. Sending money from a linked bank account or debit card is free, but you’ll get dinged with a 3% transaction fee if you fund a Venmo payment with a credit card. Instant transfers, for their part, trigger a 1.75% fee (with a minimum and maximum fee of $0.25 and $25, respectively). There’s no fee for standard cashouts which take one to three business days to land in your linked account.
Pros and Cons
Pros
- You can send or receive money to/from anyone with the Venmo app
- Standard cashouts are free
- There’s a high transaction limit (up to $60,000 a week once you’re verified)
- Venmo users can use the app to buy, sell and hold crypto
Cons
- Premium services like instant transfer and crypto transactions have higher-than-average fees
- Venmo is only available to residents of the U.S. or one of its territories
- Transaction histories are publicly visible by default
PayPal
Paypal is an online payment platform that has been around since the late 1990s and now owns several other tech sites, including Venmo. The company offers payment services to both individuals and merchants in more than 200 countries.
How does PayPal work?
PayPal is a popular payment processor for online businesses, but individuals can use the app to send and receive money, too.
Most of these transactions are free, however, PayPal users who send money from a credit or debit card incur a 2.90% transaction fee, plus a $.30 flat fee. Like other payment apps, PayPal also charges an instant transfer fee (1.75%, with a maximum of $25).
PayPal users can send money from a linked bank account, PayPal balance, debit card or credit card to any email or phone number, even if the recipient doesn’t have a PayPal account. The app’s interface, and all its functions, can be accessed on a web browser, too.
Once you verify your account, there’s technically no limit on the amount of money you can send, though PayPal caps the dollar amount of single transactions at $10,000 to $60,000.
Pros and Cons
Pros
- PayPal is available in more than 200 countries, and supports more than 25 currencies
- The company allows higher-than-average transaction limits
- Users can buy, sell, hold and transfer a variety of cryptocurrencies, including PayPal USD (PYUSD), the company’s stablecoin, which is backed 1:1 by U.S. dollar deposits, U.S. treasuries and similar cash equivalents
Cons
- PayPal’s transaction fees can be confusing, and are typically higher than its competitors
- Its user interface is more complicated than its competitors
- Users are charged steep fees for receiving money in a foreign currency and, oftentimes, for making international transactions
Apple Cash
Apple Cash (not to be confused with Apple Pay) is a contactless mobile payment service that all Apple users have access to. If you link an eligible debit card to your account, you can send money to anyone with an Apple device.
How does Apple Cash work?
Apple users can send or request cash through iMessage or the Wallet app. You can send up to $10,000 per transaction, and the money will land in the recipient’s bank account in one to three business days. You can choose to transfer the funds instantly, but you’ll incur a 1.5% fee (with a minimum fee of $0.25 and a maximum fee of $15). Kids and teens under 18 can send and receive money through the app’s Apple Cash Family feature.
Pros and Cons
Pros
- Apple Cash is built into all Apple devices by default
- There’s no transaction fee to send, receive or transfer money (with standard delivery times)
Cons
- Apple Cash is only available to Apple users
- Users can’t connect a credit card to their account
How to choose the best money transfer app for you
Zelle may no longer be on the scene, but there are plenty of solid options to choose from. If you’re exploring your options, it’s important to consider everything from ease of use to fee structure.
Cash App stands out for its simplicity and added features like its free tax filing service, investing and bitcoin transactions, while Venmo is great for folks who want a social component.
On the flip side, PayPal is a versatile option with global reach, making it ideal for both personal and business transactions (though its merchant fees are complicated and international transfer fees can be high). Lastly, Apple Cash is a solid choice for Apple devotees, as it comes pre-integrated into all Apple devices.
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