With the many different money transfer apps out there, here are the ones that allow free transfers.
PayPal is the best money transfer app for flexible payments. It is free to download. Better yet, it is free of charge to transfer money to friends and family. It will also charge you no fee when making an online purchase using your bank account or your PayPal balance.
There are many questions in the PayPal community on how to transfer money from one card to another online? The way to do this is by adding funds from a Bank account to your PayPal balance, and then you can withdraw these funds to another bank account linked to your PayPal account.
You might also be asking how long does it take to transfer money from bank to bank online?
Notably, for money transfers between accounts at the same bank, transfer speeds are done within 24 hours. Although, if it is international transfers, they may take up to two to five business days.
Revolut is considered to be one of the best money transfer apps for sending money internationally. Here are cases where you have no transfer fees with Revolut:
- Local transfers
- Money transfers to non-Revolut accounts in the SEPA region
- When you transfer funds to other Revolut customers
For all payments outside the SEPA region, customers may only receive payments free of transfer fees with their plan allowances:
Standard and Plus customers don’t have fees in international transfers.
Premium customers only get one international transfer free of charge per month.
Metal customers get up to 3 free of charge international transfers per month.
Bunq is probably one of the best money transfer apps to use within the SEPA region. It offers transfers fee-free within this region. Additionally, it doesn’t charge any fees for currency conversions.
You are allowed to set up to 25 individual IBAN accounts for managing your cash. Whereas you can set saving goals, use budgeting tools, and use a personal payment link that lets you get free ATM withdrawals whenever you are traveling abroad.
Venmo is free of charge when sending money from a linked bank account, debit card, or your Venmo account. The app supports instant transfers; 1 to 3 business days to direct deposit free of charge.
Unfortunately, Venmo is only available in the USA and is only compatible with U.S based accounts.