Cathy DesmetYou can send money quickly and easily online or through a money transfer app or website linked to your preferred payment method. Many banks partner with Zelle to offer online money transfer services to account holders, but there are other third-party payment services, some of which don’t even require a bank account.
Note that you’ll need to create an account on the app or website you choose, and the person you are sending funds to may also need to do so.
If you and your recipient use the same bank, a direct bank transfer from one account to the other may be the easiest way to transfer funds, and there is typically no charge to transfer between customers at the same bank. However, this is not always possible. Below, we list the apps, sites, and services that allow you to easily send money, including information about limits, processing times, and any associated fees.
Table of Contents
What We Recommend
The best online money transfer option for you will vary depending on the features you’re looking for in the service. We recommend the following:
- For free transfers: Cash App, PayPal (if you pay with your bank account or PayPal Cash), or Zelle
- For fast transfers: MoneyGram, PayPal, and Western Union have instant or same-day options. Most other money transfers can take several days to process. Keep in mind, though, that the transfer fees may be higher for immediate processing.
- For large transfers: Google Pay, MoneyGram, PayPal, and Xoom offer the largest transfer limit — a maximum of $10,000.
- For no-bank transfers: PayPal doesn’t require the sender or recipient to have a bank account, though both parties must have PayPal accounts.
- For varied payment options: Western Union has the widest array of payment options, including Apple Pay.
Comparison Table
Use the table below for a quick comparison of the digital payment transfer services, then click any company or scroll for more details. Note that you can sort by any column using the arrow buttons at the top of the table.
| Company | Cost | Payment Options | Limits | Processing Time |
|---|---|---|---|---|
| Cash App | Free | Bank account or debit card | $250 per day | Up to three days |
| Google Pay | Free for debit card and bank account transfers; 3% fee for credit cards | Credit, debit card, or PayPal account | $10,000 per transfer | Up to five business days |
| MoneyGram | Starting at $8 | Bank account, credit card, or debit card | $10,000 per transfer | As soon as several hours |
| PayPal | Free for bank account; about 3% fee for credit cards | Bank account, debit card, or credit card | $10,000 per transfer | Immediate or following day |
| Venmo | Free for bank account or debit; 3% fee for credit | Bank account, debit card, or credit card | $300 for new account holders and $4,999.99 per week after identity verification | Up to three days |
| Western Union | Starting at $1 | Bank account, credit card, debit card, or Apple Pay | $5,000 per transaction | Up to five business days |
| Xoom | Up to $10 | Bank account, debit card, or credit card | $10,000 per day and $20,000 per 30 days | Up to four days |
| Zelle | Free | Bank account | Varies by bank; $500 for non-bank customers | Up to several business days |
The List
We contacted the major money transfer companies to find out more about using their services to send and/or receive money online. All of the companies listed below require senders to create a free account to use the service, and recipients may also need an account. We order the list starting the overall best options.
1. PayPal
- Compatible with: Android and iOS[1]
- Cost:
- No fees for transfers from PayPal Cash, PayPal Cash Plus, or a bank account linked to PayPal[2]
- Credit, debit, or PayPal Credit transfers come with a charge of 2.9% of the transfer amount, and PayPal charges $0.30 per transaction.[2]
- About 1% for Instant Transfers, but will not exceed $10 with a linked debit or credit card[2]
- Payment methods: Your linked bank account, debit, or credit card[2]
- Limits: $10,000 per single transaction[2]
- Processing time: Standard payments are usually available the following day; immediate availability with Instant Transfer[2]
- How to send money: From one PayPal account to another — if the receiver doesn’t have a PayPal account, they will need to sign up for one to receive the funds.[2]
- How to receive money: The receiver will get a notification email and sign in to accept the pending payment.[2]
- Create an account
2. Cash App (formerly Square Cash)
- Compatible with: Android and iOS[3]
- Cost: Free[4]
- Payment methods: Link at least one bank account; you can also send money from your debit card[4]
- Limits: Send up to $250 per week; receive up to $1,000 over 30 days until your identification is verified (after which there are no set limits)[4]
- Processing time: Up to three days[4]
- How to send money: Know the “Cashtag” (Cash App identifier for account holders), phone number, or email address of the receiver; once you have an account and payment method, follow the prompts in the app to send money[4]
- How to receive money: The first time a payment is received (via an email or text notification), the receiver will need to accept it manually.[4]
- Create an account
3. Zelle
- Compatible with: Android and iOS[5]
- Cost: No fee, but mobile carrier message and data rates may apply[6]
- Payment methods: Bank account[6]
- Limits: If your bank or credit union offers Zelle, check with the bank for payment limits; if your bank does not have Zelle, the weekly limit you can send is $500 (which can’t be increased or decreased)[6]
- Processing time: Up to several business days[6]
- How to send money: A receiver’s email or cell phone number is required to send money. The recipient does not have to be registered with Zelle, but those who are will receive the money immediately in the bank account connected to their Zelle account.[6]
- How to receive money: If you are enrolled in Zelle, your payment will direct deposit. Those not enrolled in Zelle will get a notification via email or text and can accept the payment by choosing their bank or credit union from a dropdown list or sending the funds to a prepaid Visa or Mastercard.[6]
- Create an account
4. Western Union
- Compatible with: Android and iOS[7]
- Cost: Starting at $1; a $50 transfer anywhere in the U.S. will cost about $5[8]
- Payment methods: Bank account, credit or debit card, or Apple Pay[8]
- Limits: Up to $5,000 per transaction[8]
- Processing time: It may take up to five business days to process a bank transfer; same day for mobile wallet transfers[8]
- How to send money: Transfer online through a debit or credit card; the sender can also arrange for direct credit into the recipient’s bank account (you will need the bank name, account number, routing number, and full name on the account) or mobile wallet (you will need the mobile number).[8]
- How to receive money: Log in and choose “Track A Transfer,” then follow the prompts. You may need to enter the tracking number, which you can get from the sender.[8]
- Create an account
5. MoneyGram
- Compatible with: Android and iOS[9]
- Cost: Starting at about $8[10]
- Payment methods: Bank account, debit, or credit cards[10]
- Limits: $10,000 per transaction[10]
- Processing time: The recipient should receive notification by text or email as soon as a few hours after the transfer[10]
- How to send money: Click “Send Money” at MoneyGram.com and then click “Send Online.” You will need to enter your payment information as well as the recipient’s full name, bank, account number, and routing number. You can also send funds to a mobile wallet.[10]
- How to receive money: Follow the instructions in your notification text or email to collect your money.[10]
- Create an account
6. Google Pay
- Compatible with: Android and iOS[11]
- Cost:
- Payment methods: Credit card, debit card, or PayPal account linked to Google Pay[12]
- Limits: Up to $10,000 per single transaction or within seven days; Florida residents have a lower limit of $3,000 per 24 hours[12]
- Processing time: Up to five business days[12]
- How to send money: Know the email or phone number of your receiver or send to anyone in your Google contacts list[12]
- How to receive money: The receiver will get a text or email with a link to claim the money. They must sign in to a Google account or create one and add a debit card or bank account and address. If you transfer over $2,500 to someone, they will need to link a bank account to claim it.[12]
- Create an account
7. Xoom
- Compatible with: Android and iOS[13]
- Cost:
- Payment methods: Checking account, debit, or credit card[14]
- Limits: Up to $10,000 per day and $20,000 over 30 days[14]
- Processing time: Up to four days[14]
- How to send money: Mobile, tablet, or computer; you will need the receiver’s full name, bank name, and bank account number to make a transfer.[14]
- How to receive money: Money will be deposited directly into the bank account or onto the card of the recipient.[14]
- Create an account
8. Venmo
- Compatible with: Android and iOS[15]
- Cost:
- Payment methods: Bank account, debit, or credit card[16]
- Limits: New account holder’s person-to-person sending limit is about $300; once you confirm your identity, your weekly rolling limit is $4,999.99.[16]
- Processing time: Up to three business days[16]
- How to send money: Once you download the app, create your account with Facebook or email, and add a payment option, follow the prompts to send a payment.[16]
- How to receive money: The recipient will get a text or email notification; the recipient must have a bank account, debit card, or credit card associated with their Venmo account to claim the money.[16]
- Create an account
Erika Crawford
Loren Eaton
Kait Scirri
William Lipovsky
Lindsey Desmet
Joseph Cho
Maria R. Riegger, Esq.
