Finance

Best Payment Apps like Cash app for safe transfers

Updated on: March 2, 2022
apps like cash app

Looking for the best Cash app alternatives? We have got you covered. No doubt, Cash app is one of the best finance apps that enable users to achieve their financial goals faster.

On the other hand, it charges 3% for using a credit card to send money, while it’s free to use a debit card for any type of transaction.

On the flip side, it cuts 1.75% for every bitcoin purchase and allows purchasing and receiving up to $10000 worth of bitcoin a week.

The bitcoin you receive goes into the Cash app bitcoin wallet, where you lose all control over your private keys. And if you lose access to your Cash app bitcoin wallet, you will not be able to access your bitcoins until the issue is solved.

So, to make sure it doesn’t happen, you need to move your bitcoin to any non-custodial wallet such as the Ledger Nano X. Also, the app has many other fees that irk users and make them switch to better Cash App alternatives. Let’s barge forward.

Best Cash App Alternatives.

paypal

PayPal

In-App purchases
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Paypal is a simple and secure app that allows users to send and request money instantly with a debit card. It’s the only banking app that supports multiple currencies across the world. It’s free to join, with no registration or monthly fee.

With Paypal, you can send and receive money from other PayPal users, check activity, and choose the currency you want to work with.

It deducts some currency conversion fees at the standard currency rates. If you’re buying or selling a product, you can scan a QR code for secure payment with the Paypal app.

All you need is an email address to request money from your PayPal account. It only cuts a 1% transfer fee for every instant bank transfer. 

Paypal is also being used across popular sites as a payment source, thus becoming one of the most trusted apps at any given time.

It supports cryptocurrency with a PayPal Cash or Cash Plus account.

However, the crypto feature is only available in the United States and is limited to certain states. Still, it is one of the best apps to buy and sell bitcoins. 

With its Plus account, you can set up a direct deposit account and manage funds with its intuitive tools.

The deposit earning normally comes prior to the standard time, but sometimes it takes longer. Once you enroll in a cash card, you can shop in-store anywhere, and cash out at ATMs worldwide.

Pros
  • No interest, no late fee.
  • No bank transfer fee.
  • Automatic savings.
  • Invest in stocks and cncies portfoeiv.
  • Large transfer limit.
Cons
  • Debit/credit transaction fee.
  • 1% instant transfer fee, up to $10.
  • Has a bad history of seizing accounts.
digit bank

Venmo

In-App purchases
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It’s one of the best payment apps like the Cash app that accepts credit cards and was developed by Paypal for Person-to-Person (P2P) transactions. Unlike Paypal, it’s quick and charges zero debit card fees, which is 2.9% + $0.30 for Paypal debit card users.

However, Venmo has a maximum transfer limit of $4,999.99, and Paypal is limited to $10,000 per transaction.

Both platforms allow users to send and receive payments, but Paypal is more merchant (global) oriented, with a larger number of transactions allowed. On the other hand, Venmo is a U.S.-based app and a more transparent yet easier version. 

How does it work? Setting up a Venmo account is really quick, as it doesn’t require card linking. To share transactions, all you need to do is sign up through Facebook or email and then add your payment account.

You can add a bank account, debit card, or credit card as the payment option. Before paying and receiving payments, you need to verify your bank, either by signing in to your bank account or using a routing or account number. 

You can request or pay payments to your Facebook friends and contacts using the QR code or the “Pay or Request” button. Or Express yourself in each payment by sharing an inside story or joke dazzled with stickers and emojis. Do what makes you happy. 

Apart from that, you can set up your direct deposit account and get your check two days earlier than most standard banks.

Verified users can apply for the Mastercard Debit card to make in-store purchases and ATM withdrawals. There is no fee for paying and receiving funds using a debit card and bank account; it charges only 3% for credit card transactions. 

Besides, there is a 1.9% + $0.10 fee when receiving funds for your business profile. And eligible debit and bank account holders pay a base rate of 1.5% plus $0.25 or more for instant money transfers from their Venmo accounts. Furthermore, it has a crypto trading option, where you can buy, hold, and sell crypto. Take a dip into the crypto world with as little as $1. 

Pros
  • No fee for bank account and debit card.
  • Low credit card transaction fee.
  • Share and express payments socially.
  • Offers debit and credit card for eligible bank account users.
  • Check out options at several businesses, including Grubhub, Hulu, Poshmark, and others.
  • Cashback offers at certain stores.
  • Allows users to buy, hold and sell Crypto all in one place.
Cons
  • No option to cancel payments.
  • Only Available in U.S (No international transaction).
  • Others can see your payments by default)
  • Scammers might trick you into sending money.

Wrapping it up

After hours of personal usage, and without being biased, we’ve rounded up the best apps similar to the Cash app.

Cash App is still an excellent app that still has the edge over its alternatives. That said, the listed apps do not back bitcoins and are different in many ways.

However, the mentioned apps have an investment option, though it has a different structure. Apart from that, you don’t see any cash cards, so you miss out on many benefits that come with a card.

Apart from a card and cryptocurrency, the listed apps have a lower fee structure and offer robust security and cutting-edge features.

By ankit raghuwanshi
He is an editor-in-chief, an admin, and the guy who kickstarted TheAppFlow. He often wraps his head around personal finance or fintech apps and never shies away from learning new things that he can share with people to streamline their wealth. To read his more work, visit: Cashclevr.com