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Dec 24 2016
by Alexa Marzina

6 Hassle-Free Money Transfer Apps to Make Your Life Much Easier

By Alexa Marzina - Dec 24 2016

Picture this: you’re walking through town with your best friends and you all suddenly have a giant craving for pizza. Naturally, you go, and decide to split the cost among all of you — shouldn’t be too expensive, just a few bucks! You open up your wallet to realize that, shoot, you don’t have any cash right now. Instead of giving your friend (another) IOU, download one of these life-saving and convenient money transfer apps!

1. Venmo 

Venmo is available for iPhone and Android (as well as browser versions). You can link this app to your Facebook account so it already knows who your friends are, meaning you don’t have to worry about accidentally transferring money to the wrong person! This app also allows you to charge people, which is great if you and your roomies are splitting expenses like utility/rent payments or groceries. You just choose who you’re sending/charging money to/from, put in the dollar amount and type into a text box what exactly you’re paying for so both of you are on the same page; this makes Venmo super easy to use and very user friendly. Best of all, this is all completely free, including transferring your Venmo balance directly to your bank account, which all in all makes Venmo a great convenience app.

Alexa Marzina

2. Paypal 

Paypal is also available for iPhone, Android and browser use. Like Venmo, Paypal allows you to both send and request money, but it does not connect to Facebook, so you need to make sure you have a correct email address or phone number for the person you’re trying to reach. This makes it a little more complicated for quick transactions, but Paypal is so reputable and has been around long enough to have a good reputation and user base. Another small downside is that if you’re paying with your bank card you will have to pay a fee, but if you link your bank account then you can avoid that fee. This is a good option if you’re looking to transfer a large sum of money securely.

Alexa Marzina

3. Facebook Messenger 

A black sheep of sorts among money transfer, this app is available for iPhone and Android. While chatting with someone in a Facebook message, simply tap the “$” button, or if you don’t see it, click the “…” button then “$.” This will bring up a screen where you can enter your card info to send and receive money from your friends. Facebook doesn’t charge you any fees to use this feature, and it’s great if you’re already talking to a friend and remember that you owe them money.

Alexa Marzina

4. Snapchat 

Snapcash (Snapchat’s money transfer feature) is powered by Square, so there’s no need to worry about the security of sending money over this app (available for iPhone and Android). True to Snapchat’s disappearing gimmick, where photos/chats disappear immediately after looking at them, if a payment isn’t accepted within 24 hours it will be refunded back to the sender! While I can’t tell you a whole bunch of reasons as to why you’d want to send money through a disappearing photo app, I’ll let you leave this decision up to your imagination.

Alexa Marzina

5. Google Wallet 

Who doesn’t have a Google account these days? Google is an extremely frequently used site/app for communication, so it makes sense for them to have a money transfer feature. However, both parties don’t even need to have the Google Wallet app (for iPhone or Android) to make a transfer! The sender can send a payment through the app to a payee’s email address or phone number. You can link your bank card/account to the app so you never have to worry about cashing out; any money sent to you will get sent directly to your method of choice! There are no fees to use this app and Google claims 100 percent protection of unauthorized purchases from your account.

Alexa Marzina

6. Square Cash 

Unlike most of the apps mentioned, a great benefit to Square Cash is that there is no fee to transfer money directly from your debit card! This app, which you can get for iPhone and Android, is extremely convenient to use because whoever you’re paying doesn’t need to have an account. You can also cash out to your bank instantly, which is a bonus. Square Cash’s huge defining factor is cashtags, which is your username of sorts to use the app. This is a link that you’d be able to put on any social media, or just simply write it on a piece of paper, and people will be able to transfer money to you, but there is no way for them to take any from you.

Alexa Marzina

All of these apps are great for transferring funds (down to the dollar and the cent! No more worrying about having to make change for a $20 bill!) in a convenient manner. You can’t really go wrong with any of them, and it really is a lifesaver to be able to split a pizza with friends guilt-free... financially anyway. Make sure you don’t blow your whole bank account just because it’s easy, though!

Lead Image Credit: Vitaly via Unsplash

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Alexa Marzina - University of Pittsburgh

Alexa is a junior at the University of Pittsburgh and is majoring in psychology, minoring in creative writing and pursuing a certificate in American Sign Language. She also plays clarinet in the University of Pittsburgh Varsity Marching Band. One day, Alexa hopes to own at least three corgis. Follow her on Twitter @alexa_lou and Instagram @_alexalou

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