Best Money Transfer Apps for February 2025
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Best Money Transfer Apps for February 2025
Our Top Picks
Venmo
Wise
WorldRemit
Zelle
Cash App
PayPal
Meta Pay
Apple Cash
See More (5)
The Bottom Line
Why Trust Us
Methodology
Best Overall,
Best for Domestic Transfers With Friends and Family
:
Venmo
Investopedia’s Rating
4.8
Venmo
Instant P2P Transfer Fee: 0%Debit Card Transfer Fee: 0%Supported Countries: U.S.
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Pros & Cons
Pros
Instant P2P transfers
Verified users can send up to $60,000 per week
Supports crypto buying, selling, holding, and transferring
Cons
Only available to U.S. residents; no international transfers
Instant withdrawals to bank account cost 1.75% (min. $0.25, max. $25)
Credit card transfer fee of 3.00%
Why We Chose It
If you want to send money to friends and family, it’s hard to beat Venmo. With over 60 million users, it’s a popular and inexpensive way to transfer money (as long as the other person has Venmo, PayPal, or an eligible digital wallet).
Anyone in the U.S. can download the app (for iPhone or Android) and send or receive money at no cost: Standard transfers from your Venmo balance, bank account, or debit card are free. Some other apps, like Zelle and Meta Pay, offer convenient free transfers as well, but they come with some extra hurdles (must have eligible bank accounts or Meta accounts, respectively).
After verifying your account, you can send up to $60,000 per week. That’s one of the highest transfer limits we found in our research into money transfer apps (Wise and WorldRemit allow more). You can use your Venmo balance for online purchases as well, with a limit of $7,000 spent per week.
Venmo features a social aspect, unlike other P2P apps. By default, your Venmo transactions are public, but you can easily set your activity to private (and we recommend doing so).
If you’re interested, you can apply for a standard debit card, a Venmo Teen debit card, or a Venmo credit card. These can be used like any other payment card, with the debit cards pulling from your Venmo balance.
Venmo was founded in 2009. It came under the control of PayPal in 2013, when PayPal acquired the payment service Braintree. PayPal’s headquarters are in San Jose, California.
Transfer Speed, Fees, and Caps
P2P transfer time: Usually instantInstant P2P transfer fee: 0%Debit card transfer fee: 0%Credit card transfer fee: 3%International transfer fee: N/A (U.S. only)Transfer send cap (verified): $60,000 per week (individual limits may apply)Transfer send cap (unverified): $299.99 per weekTransfer receive cap (unverified): Undisclosed
Best for International Transfers and Large Transfers
:
Wise
Investopedia’s Rating
4.5
Wise
Instant P2P Transfer Fee: VariesDebit/Credit Card Transfer Fee: Varies by currency, starting at 0.57%Supported Co