While we don’t blame you for wanting to send Italian mobsters to your friends’ homes to get your money back, there exists a far easier way to recoup your funds. In fact, all you need is access to an iOS, Android, or Windows-powered smartphone, and you won’t even need to go through the trouble of calling your pal Vito.
Though, when it comes to applications involving money, there’s no doubt that there’s wide-reaching skepticism about security. It’s apparent the globe is in no shortage of data and information breaches, so it’s incredibly easy to understand this fear. To help ease some of your doubts, and weed out potential frauds, we’ve found the absolute best ways to send and receive money via a smartphone. So no matter if you need to split a dinner tab, or have finally gotten around to paying your fantasy football dues, here are the ten best applications for settling your debts.
The Best
Venmo
More than just a new popular verb — Venmo me! — this app makes it incredibly easy to send and receive money from family and friends. Any payments made from your Venmo balance, most debit cards, or a bank account, cost nothing to execute, and Venmo charges just a 3 percent fee for credit cards. It boasts a “bank-grade” security system, so you won’t have to worry about any shady hackers getting ahold of your financial information, either.
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The Rest
Facebook Messenger
Facebook has enabled a feature in its Messenger app that allows any person in the United States to send money through the app. When you’re chatting with someone, simply tap the dollar sign located above the keyboard, directly beside the tools for sharing photos and stickers. If you don’t see it, tap the ellipsis on the right-hand side to bring up a list of additional options. Once you’ve set up your debit or credit card, just type the amount of money you want to send and tap pay in the top-right corner.
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PayPal
Venmo before Venmo existed, PayPal is one of the oldest money transfer applications available. Though receiving and sending funds takes a while longer, PayPal does offer the ability to use it to pay for purchases at various establishments.
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Google Wallet
Like a digital wallet in the palm of your hand, Google Wallet makes it easy to send and receive money to friends within the U.S. The app also allows users to pay with Google Wallet at any retail store that accepts tap-to-pay, or Debit Mastercards.
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Square Cash
With just a simple link of your debit card, Square Cash allows you to quickly send, receive, or request money from friends and family. Perhaps its most useful feature is how quick money deposits into your bank account once a transaction is complete.
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Chase QuickPay
Though Chase customers have access to a slew of banking options within Chase’s smartphone application, non-customers with valid email addresses also have the ability to send and receive money using the bank’s QuickPay feature.
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Snapcash via Snapchat
After a recent partnership with Square Cash, Snapchat now gives its users the ability to easily send money to anyone 18 and older. By entering the money ($) sign, followed by a numeric value, Snapchat sends money directly from your debit card or bank account.
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Western Union
Not only does the Western Union app allow you to transfer money among friends and family, but it grants you the ability to send it to over 200 countries and territories. It also lets you know how much your money transfers should cost, and provides all Western Union branch listings.
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Xoom Money Transfer
Like Western Union, Xoom allows users to send and receive money all over the globe. The app also features low transfer fees, locked-in exchange rates, status updates, and push notifications of any sent or received money.
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Bank of America’s smartphone application not only cuts down on the amount of time you need to spend at a branch, but allows you to securely send and receive money to anyone (non-customers, too) via a phone number or email address.
