The 7 best transfer money and currency exchange apps. Future of fintech.

by Winngie

26 October 2020

Financial Service


International Money Transfer

1 comment

The 7 best Money-Sending and Currency Exchange apps

  • Winngie – Best for P2P free Swaps
  • Venmo – Best for urgent conditions high fee.
  • CashApp – Best for instant deposits
  • Facebook Messenger – Best for friends and family
  • PayPal – Best for freelancers
  • Zelle – Best for bank-to-bank transfers
  • WorldRemit – Best for far east transfers

Future of fintech. Brief of each app.

Provider Platform Transfer fee Speed Keep Funds in the App?
Winngie Android and Web Free + NO Exchange rate loss 1-5 days No
Venmo iOS, Android Free for debit cards and bank transfers, 3% for credit cards and 1.5% for instant transfer + Exchange rate loss 1-2 days Yes
CashApp iOS, Android Free 1-2 days after first linking a card, then instant No
Facebook Messenger iOS, Android, Blackberry Free + Exchange rate loss 1-5 business days No
PayPal iOS, Android Free for linked bank accounts and PayPal Cash, 2.9% fee for debit and credit cards + Exchange rate loss 3-4 days Yes
Zelle Within existing banking apps Free + + Exchange rate loss One day No
WorldRemit iOS, Android Varies by country 1.5%-4% + Exchange rate loss 1-7 days No

Lets Check those out one by one;

Winngie – Best for P2P Free Swaps

Winngie is a well-known platform that you transfer your money to anywhere in the world with based on platform that you can find someone who else to transfer same as you do. It is a great capability to find a platform that also eases up your transfer and makes the cost cheaper.

Winngie is one of the solutions already in the market. It’s called smart and easy way to send money abroad and exchange local currency.
Logic is simple but also clever. Match with people in cross countries who wants to send or receive money. Chat, deal with their receivers. Perform the transactions’ in local. Money never actually crosses any borders.

Instead of international money transfer and currency exchange companies commonly using, Winngie takes a unique approach towards abroad money transfer and currency exchange with a simple mobile application. Part of the “sharing economy,” Winngie offers you someone’s currency as a media to exchange, instead of an exchange office or transfer via bank.

To use Winngie to transfer money, you need to create an account and your recipient needs one too. The rest is as simple as matching like tinder. You fill the amount you want to send, enter the address of the recipient, and click send.

There are lots of benefits that come with embracing Winngie as means of money transfer. However, there are three outstanding reasons namely:

  1. Fast: Unlike the Western Union or Money Gram transfers that take days to be processed, Winngie system is almost instant. The money reflects on the system a few seconds after it is sent but may take up to an hour to be available for withdrawal.
  2. Cheap: Winngie is a peer-to-peer network and, therefore, eliminates the roles played by third parties. You only pay negligible fees, and there are no hidden charges.
  3. Privacy: While using this network, you do not need to worry about somebody snooping around your finances. What’s more, the transactions are protected and devoid of your personal details.

Overall, Winngie is an amazing platform that you can find a good way to transfer while you are staying at your home and not going out to find a way to handle your transfer. It gives you possibility to transfer small amount of money that normally costs more than the original amount.


Venmo – Best for urgent conditions, small amounts and local also high fee.

Venmo is a branch of well-known company PayPal that’s specifically designed to quickly and easily transfer money between friends, family and other contacts. The app is integrated with Facebook and your phone contacts, so you can see others’ activity in your newsfeed and easily find the right contact to send a payment to. If you get paid through Venmo, you have the option of transferring funds to your bank account. There’s a 3% fee if you choose to send payments via a credit card and you will loose from currency exchange rates if you are transferring in different currencies and this loss can cost to you up to %4


No-Fee-With Winngie

CashApp – Best for instant deposits, if you can. 

CashApp, is from parent company Square, formerly known as Square Cash, which is best known for providing payment processing platforms to small businesses. With CashApp, you can send and receive funds instantly via a linked debit card. There’s no charge for using the service with a personal account, but there is a 3% fee when you use the business version and you will loose from currency exchange rates if you are transferring in different currencies and this loss can cost to you up to %4. CashApp only works with debit cards, so it’s not the best fit if you prefer to use a credit card or linked bank account. CashApp also lets you invest in stocks and cryptocurrency, which is a neat feature if you’re looking to experiment with small-scale investments.


Facebook Messenger – Best for friends and family, Not so common still. 

Facebook Messenger is a surprisingly convenient way to send money to family, friends, and other people you’re connected with on Facebook. The payment feature is free to use and already integrated with Messenger. The service requires using a debit card, and recipients will also have to provide their own debit card information in order to receive a payment. Given Facebook’s privacy concerns, some people may be wary of forking over their debit card info to the company. Fund transfers are also somewhat slower than other money-sending apps, at one to five days.


PayPal – Best for freelancers and no choice sometimes. 

PayPal is ubiquitous when it comes to payment options for freelance work. The service is an established giant in the industry and is quick and convenient to use. Users also have the option or requesting money from friends, family and other contacts. There are no transaction fees when you send money using a linked bank account or PayPal Cash, but there is a 2.9% fee when you use a credit card, debit card or PayPal Credit. Users can also send money internationally, which is a nice feature if you have loved ones or professional contacts who don’t live or bank in the United States But again you will loose from currency exchange rates if you are transferring in different currencies and this loss can cost to you up to %4 which is not less.


Zelle – Best for bank-to-bank transfers, no sense to use if you already have an online banking.

Zelle is a money-sending app that allows direct bank-to-bank transfers between individuals. Still working with banks btw. If you and the person you’re sending money to have accounts with a participating bank, you can send funds within the same business day. Participating banks include Bank of America, Chase, Citybank, Capital One and Ally, among others. In most cases, individuals are able to transfer funds via Zelle within their banking app rather than having to download a separate app. The service is free, and funds can often arrive in your account in a matter of minutes.


WorldRemit – One of Best for international transfers

WorldRemit is a good choice for one of the best money-sending app for international transfers. While some other money-sending apps have limited international capabilities, WorldRemit is specifically designed to facilitate international transfers. The app is simple and easy to use and you can send money to more than 150 countries around the world. It does come with associated transfer fees, which can vary depending on which country and what bank you’re transferring money to. However, WorldRemit’s fees are claimed on average “48% cheaper than sending money via banks” and 25% cheaper than other international services like Western Union. However, for small countries you may need to wait more than a week to process the transfer and you will loose from currency exchange rates if you are transferring in different currencies and this loss can cost to you up to %4 which is not less again. Also registering to WorldRemit is really frustrating similar to all other remittance companies. Need to provide so many documents and wait weeks or sometimes more to be approved.


What is a money-sending app in real?

A money-sending app allows individuals to transfer funds to one another through an application on their phone. Rather than giving someone cash or writing them a check, money-sending apps make sharing money easy, convenient and digital. Whether you use a money-sharing app to pay rent or to split dinner with friends, pay someone for professional work or to send a gift, these apps make sending money easier than ever before. Actually local transfers are already so easy with online banking. After online banking systems developed so much these local money share or transfer apps has no sense anymore. Furthermore, for international transfers still there is a way to go. Since almost all the international transfers still using banks and you have to pay for fees, unfair currency rate, provide valid documents to transfer money abroad. In this aspect P2P solutions has an advantage like Winngie. Money never actually passes any border but users match with each other in cross countries and transfer the money locally instead international transfers.

A money-sending app isn’t the same thing as a payment platform, although many payment platforms also have associated money sending apps. For example, Square provides payment processing software to businesses but also owns CashApp, which is a money-sending app, Winngie is a social platform to match for transfer and exchange money.

How should I choose the right money-sending app for me?

The best option when it comes to a money-sending app depends on your individual needs. Some apps are also better suited to particular purposes than others. If you already bank with a bank that uses Zelle, quick and easy money transfers are often already available within your mobile banking app. Actually if you already have bank why you need an app to use your bank account to send money “?” sounds funny. Venmo is a popular option when it comes to splitting restaurant bills and bar tabs, Actually its not totally money sending app coz its not available for international transfers, its kind og buying tokens and transferring to each other. If you’re looking to send money internationally, WorldRemit may be a good choice. If you’re a freelancer accepting payments from clients or sending money to contractors, PayPal is a popular option. Winngie is a unique approach to send money internationally coz money never actually passes any borders but Winngie makes it available locally with matching senders and receivers in cross countries.

Some people may prefer to choose an app that the majority of their friends, family members or business partners also use. This can make it easier to quickly transfer payments to and from the personal and professional contacts that you exchange money with most often.

As a Result

Mobile banking apps have proliferated over the past few years, and there are now more choices than ever. These apps make it quick and easy to send and receive funds and are a much more convenient option than cash or checks. When it comes to deciding on a money-sending app, you should make sure to do your research, and only download and use reputable apps that you trust with your money.

by Winngie Editor Team.

Leave a Reply

Your email address will not be published.