10 Best Apps Like Cash App for Free Instant Transfers & More

In this guide, we detail ten of the best Cash App alternatives in 2023. Most of these mobile apps initiate domestic peer-to-peer money transfers just like Cash App. Chime, Venmo, and PayPal are among the most popular.

Others have advantages with international capabilities (such as Revoult, Wise, and Remitly). We also cover mobile apps like Cash App that process business transactions, joint accounts, and more. Let’s see below how each Cash App alternative can benefit you!

Cash App for Money Transfers & 10 More Cash App Alternatives

Cash App offers services to three main kinds of customers: personal accounts, business accounts, and supervised teen accounts. 

For its personal accounts, Cash App is packed with features including:

• free, instant peer-to-peer transfers,
• international transfers (to UK Cash App account holders), 
• savings,
• direct deposits,
• a debit card, 
• tax reporting, 
• investing and Bitcoin,
• Cash Boost rewards program.

Cash App for teens offers much of the same features. However, the account must first get approval from a parent. Then, its transactions will all seen and controlled by the sponsor. Learn more about Cash App for kids.

Business owners (especially freelancers and sole proprietors) can use Cash App to process payments from customers at 2.75% per transaction. Those payments are conveniently held directly on the Cash App account too. Read on about Cash App's business account.

Now let’s see below how each Cash App alternative may benefit you more:

Chime — Best US Checking Account

Chime is one of the most widely used digital checking account apps in the United States. The app allows you to send instant transfers to other Chime account holders, making it a great peer-to-peer payment alternative to Cash App. Chime is packed with other features too. You can earn interest with their optional high-yield savings account, build credit history with their optional credit builder card, and access free cash withdrawals at 60,000+ ATMs.

Chime's main advantages over Cash App include their optional credit builder and marketplace to earn a side hustle. However, Chime does not offer an investing or Bitcoin platform, or accounts for teens. Unlike Cash App, Chime also cannot send money to the UK.

Learn more: Read our in-depth Chime review or visit their website.

Revolut — Best Travel Card and Account

Renowned for its vast multi-currency capabilities, Revolut not only allows you to instantly transfer funds to other account holders for free, but also enables you to send money across the globe in more than 30 currencies.

Revolut is a powerhouse of features. Like Cash App, it allows direct deposits as well as an integrated savings feature. Additionally, it provides travel insurance, one of the best currency exchange services, an international travel debit card, and even membership access to airport lounges for a hassle-free travel experience.

However, a few areas in which Revolut falls short include the limitations on its ATM withdrawal feature, only allowing users to draw up to $1000 each month free of cost and lacking a widespread ATM network.

Learn more: Read our in-depth Revolut review or visit their website.

Remitly — One of the Cheapest Online Transfer Companies

Remitly is one of the most cost-effective choices for sending money abroad, in either three days or expedited for an industry-low fee. Remitly boasts one of the best global cash payout networks for bank transfers, setting it apart in the remittance market.

However, unlike other Cash App alternatives, Remitly lacks additional features. While it focuses on offering the best international transfers, it doesn't offer US checking accounts, savings, debit cards, ATM withdrawals, or travel perks.

While Cash App allows you to send money fee-free to Cash App users in the UK, it does not have capabilities in other countries. If you need to send money abroad, consider Remitly or use Monito's live comparison engine to find the best provider for your destination.

Learn more: Read our in-depth Remitly review or visit their website.

Wise — Best Multi-Currency Account

Wise, formerly TransferWise, shines when it comes to multi-currency accounts. With access to over 50 currencies, it gives users the freedom to make instant and free transfers to other Wise account holders. This app ensures transparency, using the real mid-market exchange rate without any hidden fees.

Wise is ideal for those transferring between USD, UK Pounds or Canadian dollars, having competitive fixed fees for such exchanges. Additionally, it provides account numbers for 13 different countries, making it among the best apps for global usability.

However, certain aspects may deter domestic users. Depositing USD from your Wise account to your main bank account incurs a fee. While it offers a travel debit card, free withdrawal limits are set at $200 per month. Notably, Wise lacks features like investments and bitcoin offerings, extensive ATM networks, joint accounts for minors, or a rewards program.

Learn more: Read our in-depth Wise Account review or visit their website.

Payoneer — Best for International Business Payment Processing

Payoneer is a robust business solution for international transactions, offering payment capabilities in eight different currencies, including USD, GBP, HKD, and more. With Payoneer, you can freely transfer funds from your balance to another Payoneer account, though fees may apply for just a few regions.

This platform excels for global businesses and e-commerce, thanks to integrations with big-name platforms such as Amazon and Airbnb. Currency conversion is also just 0.5% between currencies, making it a cost-effective option when you need to exchange your foreign-earned revenue into USD balances.

Like competitors such as Stripe, Square, and Cash App, Payoneer does impose payment processing fees: 3% for credit card transactions in all currencies, and 1% for ACH bank debit transactions. This is slightly higher than Cash App's 2.75%, but may be worth it for the global reach that Payoneer gives you.

Learn more: Read our in-depth Payoneer review or visit their website.

Google Pay — Mobile Wallet for Android and iOS

Google Pay is a user-friendly, free peer-to-peer payment network for sending money to friends and family. It's compatible with both iOS and Android devices, making it a widely used across the US. Like Cash App, Google Pay does not charge fees to send money or deposit to your primary bank account.

As a digital wallet, it does not issue a debit card nor does it give you a US checking account. Instead, you can link a separate card to the app to make contactless payments. Just take note that Google Pay will charge you a processing fee of 2.9% if you send money to friends using a linked credit card (debit cards are not charged). It also does not have international transfer capabilities.

Learn more: Visit their website.

Apple Pay — Mobile Wallet Compatible Across Apple Devices

Apple Pay is another mobile wallet, like Google Pay, that is compatible with your iPhone, Apple watch, and other Apple devices. You can send money to friends and family instantly from within the app, or even from iMessages.

To do so, you can simply link a debit card or credit card to the wallet to make contactless payments. The Apple Pay mobile wallet, itself, does not issue a card or a US checking account (the Apple Card is a separate product). It also lacks international money transfer capabilities, and will charge you a 3% processing fee if you send money to friends with a linked credit card.

Learn more: Visit their website.

Venmo — Best for Social Payments

One of Cash App's major competitors is Venmo, one of the most popular peer-to-peer payment networks in the US. Venmo's main advantage is undoubtedly its expansive network between individuals and small vendors, coupled with its purchase protection feature on goods and services (T&Cs apply).

This platform offers splitting payments, sending gifts, purchasing Bitcoin, and earning cash back with the Venmo credit card. Like Cash App, it also has a rewards spending program and offers joint accounts for teens supervised by parents.

Take note that the purchase protection does not apply to money transfers made on the app. Venmo also lacks certain features like stock investing, savings accounts, and a free ATM network. However, you can find a MoneyPass ATM for free withdrawals. It’s also worth noting that while Venmo's services are provided by PayPal, the funds in your Venmo account aren't FDIC insured. On the other hand, Cash App partners with banks such as Sutton Bank to provide FDIC insurance to your account balances.

Learn more: Read our Cash App vs Venmo review or visit their website.

PayPal — The Largest Peer-to-Peer Network in the US

PayPal, the global pioneer in online payment networks, is well-known for its quality fraud detection technology. With the largest user base on this list, PayPal makes sending payments, requesting money, and spending at vendors easy across the US.

PayPal offers other perks, like a credit card, pay-later features, rewards, cash back, and the ability to buy Bitcoin (like Cash App). However, it lacks a stock investing feature.

Although PayPal serves customers worldwide, it's crucial to notice its high hidden exchange rate margin fee for international money transfers, which can result in costly transactions. To avoid these surcharges, read our guide on PayPal's conversion fees. We highly recommend using multi-currency accounts like Revolut and the Wise Multi-Currency Account for sending money to friends abroad instead.

Learn more: Read our in-depth PayPal review or visit their website.

Zelle — Best for Instant Bank-to-Bank Transfers

Zelle is perfect for secure and free instant bank-to-bank transfers within the USA. Partnering with most major American banks, Zelle allows you to send money instantly using the recipient's enrolled phone number or email. Zelle has its own mobile app that you can download, although some banks have Zelle conveniently integrated within their own banking apps.

Zelle doesn't issue a US checking account, debit card, nor does it offer spending rewards, stock trading or Bitcoin, joint accounts, or other services like Cash App. Use Zelle simply for instant transfers between bank accounts. Just be sure to only transact with known contacts and verify all details thoroughly.

Learn more: Read our Zelle guide or visit their website.

Recap: The 10 Best Mobile Cash App Competitors in 2023

Let's revisit the wide range of Cash App alternatives in 2023, each bringing unique offerings to the table to meet your digital finance and payment needs:

1. Chime — Best US checking account
2. Revolut — Best travel card and account
3. Remitly — One of the cheapest for international transfers
4. Wise — Best multi-currency account
5. Payoneer — Best for international business transactions
6. Google Pay — Mobile wallet for both Andriod and iOS
7. Apple Pay — Mobile wallet for your Apple devices
8. Venmo — Best for social payments
9. PayPal — Largest P2P network in the USA
10. Zelle — Best for instant bank-to-bank transfers

How Do Peer to Peer Payment Apps Work?

Peer-to-peer (P2P) payment apps have revolutionized how we handle money. They allow users to send, receive, and request money from others almost instantly.

P2P apps enable instant transfers by moving money within their shared network. Each user tops up their account with cash, which is linked to their individual profile within the app's network. When a transaction is initiated, the app merely reassigns the respective amounts within its network, rather than truly transferring funds between banks. This internal adjustment process is almost instant, which enables users to send and receive verified funds to each other's mobile wallets in real-time.

All that this requires on your end is downloading the app, setting up an account, linking a bank account or card, and you're ready to go. Simply add your recipient's contact details (like an email or a phone number), decide on the transfer amount, and with the tap of a button, you can move funds directly from your account to theirs.

Features to Look For in the Best Mobile Money Apps

When considering the best mobile money apps, there are several key features to look out for:

• Widespread Adoption: An app frequently used by a large number of people simplifies sending and receiving payments, as more of your contacts are likely to be part of the same network.
• Fee Structure: Low or no transaction fees make regular use of the app more affordable. Some apps, like Venmo and PayPal, will charge a fee when you send money with a linked credit card.
• Customer Support: Access to responsive, helpful customer service is crucial to troubleshoot any issues swiftly and effectively.
• Currency Flexibility: Multi-currency capability and international transfers are important for those routinely dealing with overseas transactions.
• Travel Debit Cards: Apps that offer cards with no foreign transaction fees further ease global spending.
• Rewards: Apps with spending rewards provide an extra incentive to use their services, offering cashback or points that can be redeemed.
• Budgeting and Savings Tools: Features that help monitor spending, create budgets, or automate savings can be valuable for managing personal finances.