bank transfer vs money transfer app
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# Money Transfer


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alex manea


Alex Manea

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Bank Transfer and Money Transfer Apps - Which is better?

When it comes to transferring money online, it seems that the possibilities are endless. The old days of having only one way to transfer money are gone. In today’s world, you can send money in various ways, which means you can choose the one that better suits your needs. Bank transfers and money transfer apps both have their advantages and disadvantages. By the end of this read, you will be better prepared and informed about which way is the best according to your needs.


The first thing to keep in mind when transferring money is the time it takes for the transaction to go through. We live in a world where everything happens almost instantaneously. If 10 years ago a transfer taking 5 business days to be completed was not a problem, the same can’t be said today.

If you opt for a regular bank transfer, expect a longer period before the money reaches its final destination. Because the bank will require several intermediaries when sending money abroad, the whole process can take anywhere between a few business days to an entire week.

Money transfer apps, on the other hand, are quicker and more adjusted to our modern times. Revolut, for instance, will allow you to easily send money almost instantaneously to another Revolut user.


Another thing to note when selecting the best method for transferring money is the fees associated with the transaction. To make sure you opt for the least expensive method, you need to consider that bank transfers and some money transfer apps charge fees.

The fee charged by banks in an international transfer can go as high as 10%, which is a considerable sum when you consider that most international transfers are in the 3 and 4 digits.

In contrast, money transfer apps offer the lowest fees you can find when transferring money abroad. Take, for instance, N26. This app charges as little as 1% for an international transfer, and that factor alone makes it very attractive compared to a standard bank transfer.

Transfer Options

One of the main differences between bank transfers and money transfer apps is the different possibilities they provide when sending money.

Regular bank transfers work in one way only. You transfer the money from your account into the bank account of the recipient.

Money transfer apps work a little bit differently. With Ria, for example, you can use 3 transfer options that can make your money transfer run smoother:

  1. Cash pick-up - with this option, the person receiving the money does not need a bank account. With cash pick-up, the sender transfers the money from their account to a local post office for the receiver to pick up.
  2. Bank account - you can always send the money directly to the recipient’s bank account. The only difference is that the process is faster and cheaper when compared to a regular bank transfer.
  3. Mobile account - In this scenario, you transfer the money using Ria, and the person will receive the funds in their mobile account.


If there’s something you want when you want to transfer money is for the transaction to be secure. After all, security is priceless. There’s no worth in having the most advanced features and the fastest turnaround times if the method you’re using isn’t safe in the first place.

Both banks and reputable money transfer apps do an excellent job of keeping your transactions secure. Here, the difference shouldn’t be too relevant.

However, if you were to opt between one of the methods, one could argue that money transfer apps are more secure than regular bank transfers.

When you opt for a regular bank transfer to send money internationally, your funds will need to travel between several intermediaries before reaching their final destination. And while banks take their time to make sure every step of the process occurs in the safest way possible, there are still a lot of steps that could go wrong.

On the other hand, when using a money transfer app, one organization will handle your money alone. For that fact, you could say that security-wise money transfer apps edge out a traditional bank transfer when it comes to security.


Sending money has never been easier. Today’s digital world allows us to transfer money practically and cheaply compared to the traditional and old ways.

There is no way around it: money transfer apps do a better job with your money than your regular bank when it comes to speed, fees, security, and transfer options.

The possibilities are endless, and countless money apps will get the job done. If you want to find out which is the best money transfer app for your specific needs, check our money transfer app comparison page and find the best service for your needs.

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Sortter Team

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