We all earn and spend money, but we live in times when money isn’t necessarily paper. Many of us don’t carry cash anymore and in some situations it can cause difficulties. For example, your friend has paid for your dinner and now it’s time to pay him back but you can’t do it because all the money you have are digital and you have it on plastic cards. However, it’s not the reason to continue carrying the debt. Moreover, such small debts may have a very negative impact on your relationship with friends so it’s time to figure out how to send money to them with a help of mobile apps! With their help you can send money to anyone anytime and having no cash will not be a problem anymore.
Today’s mobile apps can do almost everything! They can even earn you extra money! PayPal is one of the most popular apps for sending and receiving funds. You can use the website or an app and it’s easy!
Advantages: Through PayPal you can easily make anonymous Internet payments and it’s very secure. People don’t have to provide a check or a credit card and it’s an International service.
Disadvantages: PayPal isn’t really a popular service for paying friends back but now you try a new feature called PayPal.me. Each user can get his own URL and send it to the other person together with the amount and this person can complete the transaction and get paid.
Fees: It’s free for everyone except merchants. If you make a payment with a credit card then you’ll be charged 2.9% + $0.30 per each transaction.
You can easily send and request money with Venmo, just create an account and do a few clicks or taps on a phone screen. Most people prefer using the app but you can also complete transactions by responding to the text notifications without even opening the app.
Advantages: It’s a very convenient service for sending money to friends. It’s easy to use on a regular basis.
Disadvantages: It’s better not use Venmo for sending money to those who you don’t know personally. Accept payments only from those who you know wouldn’t write you a bad check. The main disadvantage is that the app has certain security issues.
Fees: It’s free if you use a bank account or one of the major debit cards. In case you use a credit card or non-major debit card, you are charged 3% fee.
You can link your Google Wallet account to your bank account or a debit card and you’ll be charged 2.9% fee. You can send the money both to friends and strangers using the website, the app or Gmail (there’s a little icon with a dollar sign at the bottom of a message). If you have the Google Wallet Card, you can start spending money as only you received it and you don’t have to wait for it to be deposited to a debit card or a bank account.
Advantages: Perfectly suits for paying friends and there are almost no risks in using it.
Disadvantages: Google Wallet isn’t really a user-friendly app and it can’t be used at stores.
Fees: Transfers and funding via bank account is free. You have to pay 2.9% fee is you fund money via your debit card.
Facebook Messenger Payments
We already know how to make money with Facebook and now it’s time to appraise it’s another advantage. If you want to send money, just send a Facebook message to this person and hit the dollar sign, put value and your debit card information. You can find more info on the company’s page.
Advantages: It perfectly suits for sending money to friends and family members.
Disadvantages: Security and unfamiliarity.
Fees: It’s free.