While Cash App is a popular money transfer app in the US, there are better alternatives that can support international payments.
KAMPALA | NOW THEN DIGITAL — There are many Cash App alternatives, and each has its own benefits. PayPal, Revolut, Zelle, Venmo, SparklePay, Pangea Money Transfer, and Square are just a few of them.
- Cash App is one of the most popular money transfer apps on the market. Users can send money to friends instantly and cash out to their bank account for free.
- But the app is limited to the US and UK, which makes it less suitable for international payments.
- Revolut, N26, Paysend, Payoneer, and Starling Bank are some of the best cash app alternatives. Another option that works well in Nigeria is SparklePay.
- Read also: Take a look at the best Paypal alternatives here.
But what are the best? Here are the best Cash App alternatives for different situations. Which one is right for you? Read on to learn more about each one.
We’ll also look at some advantages and disadvantages of each one.
After all, you’re buying or selling stuff from an unknown store, so there’s a possibility someone might steal your personal information.
PayPal
If you’ve used PayPal, you’ve probably noticed that there are some pretty impressive perks, including a host of extra features.
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These perks are the main reasons why PayPal is still the most popular choice for online payments. However, you should be wary of scams when using these services.
While you won’t be charged for sending money, you will be charged for accepting money from strangers. It’s important to protect yourself from these potential pitfalls and use the best cash app alternatives to PayPal instead.
PayPal isn’t the only online money transfer service, though. You may also want to consider Wise. These services support international payments and are fast and convenient.
You can send money to over 80 countries without incurring any fees, and they’re widely used. They can even beat banks when it comes to exchange rates.
If you’re using PayPal for international transactions, Wise may be the best choice. Moreover, you’ll get emojis and bill splitting capabilities as well.
The service offers two types of accounts: personal and business accounts. The former offers more benefits, such as pay buttons and invoices.
PayPal is best suited for businesses. It is free to set up and uses secure encryption technology. However, some users complain about the slow customer service.
And in addition to these features, there are some downsides to using PayPal. Not all countries support PayPal, and it can be difficult to make international payments with it.
If you need to send money abroad, PayPal will charge a fee for it. If you’re looking for a cash app that accepts credit cards, try Xoom, a PayPal Service that is a popular choice.
While it has many benefits, its main downside is its lack of support for peer-to-peer payments. It allows domestic payments to be free, but it charges a 2.9% fee on card transfers.
In addition, it has a higher currency conversion fee than PayPal. However, if you want to transfer money to a friend or relative overseas, Xoom’s services may be best for you.
Revolut
Cash App alternatives may depend on the type of payments you want to make. Monzo and Revolut are both low-cost alternative cash apps.
They offer a full-featured current account with no foreign transaction fees, a debit Mastercard that doesn’t require an overdraft and stock and cryptocurrency trading.
While both apps have a range of features, Monzo is mainly focused on British consumers and is only available in the UK. Revolut, on the other hand, is available in more countries.
The standard account of Monzo does not come with a virtual card, unlike that of Revolut. Furthermore, Monzo’s savings account earns interest at a rate of up to 1.63 percent, which Revolut’s does not.
Financial app Revolut, which is specialized in international payments and was founded by Vlad Yatsenko and Nikolay Storonsky, both of whom have British passports.
The service is regulated in the United Kingdom and allows you to transfer money to and from multiple currencies.
Like Cash App, Revolut is focused on international payments, and also offers cheap international transfers.
However, it doesn’t hold money on its own. It does store it in third-party banks for extra security and peace of mind.
Another reason why Revolut is the best cash app alternative is its ease of use. Its desktop and mobile apps make it easy to send money overseas.
The Revolut debit card is useful for overseas spending. It offers free international transfers and favourable exchange rates.
While there are some limitations on the amount of money you can transfer, you will always be aware of the amount and time limit before making a transfer.
Revolut is an excellent financial app that is geared towards companies and firms that require financial software. You can download the app to your iPad, iPhone, or Android device.
Revolut has no hidden fees, no monthly charges, and offers free international payments for both business and local customers.
In our opinion, Revolut offers the best deal if you want international transfers, currency exchanges and an actual bank account.
You will have to make sure that you stay within your plan’s allowances to avoid excessive charges. The app also offers an ATM option.
SparklePay
SparklePay, made with love from Nigeria and offering personal and business accounts, is also one of the best cash app alternatives.
It was founded by Uzoma Dozie, the former CEO of Diamond Bank and has processed over $70 million in transactions. It has over 1 billion Naira in deposits and 40,000 customers.
Its account-opening process is quick and easy. It includes budgeting features. It also offers both physical and virtual cards. The app lets users add and deactivate the physical card at anytime.
While Cash App is the most popular mobile banking app in the US, it is not available in other countries.
This is a big drawback, but SparklePay is a good alternative if you need to send money to friends and family in Nigeria.
This app works well with mobile phone operators and is more convenient than Cash App. And it’s not a super app.
Paysend
One of the most popular apps to send and receive money is Paysend. This app offers a variety of features to meet the needs of its users.
Users can send money from their phone to anywhere in the world, view the exchange rate, transfer fees, and the amount they have received.
In addition, the app is available in over 100 languages, so users are not limited to just the English language.
Paysend also supports international transfers, automatically converting currencies when sending or receiving money.
As such, it is the cheapest payment transfer option available for international transfers.
The Paysend app allows users to send money globally for free, and its fee is a flat $2. The company has over 6 million users, and claims that 90% of transfers are completed in 15 seconds.
Paysend is a more reputable choice than Cash App if you need to send money overseas. It has a low-cost sending fee compared to other apps, and the money is immediately transferred to the recipient.
Another advantage of Paysend is its ability to send money from one card to another. The company charges a fixed rate of $2, which makes it the cheapest choice for sending and receiving money abroad.
Other Paysend and Cash App alternatives include Pangea Money Transfer.
Users can even earn $15 if they send money with Pangea on their next transaction. While it might not be as fast as Paysend, it is still a better option than many others.
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