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April 7, 2022

Top 9 Apps that let you transfer money at low costs

Apps like Xare are dispensing with the need to send money at all, they are possibly the best option for ex-pats to transfer money worldwide

A few decades ago, if you had to give USD 10 to someone, you had to meet them physically and hand over the money. With the rise of fintechs, transferring money has become a breeze.

Someone staying in the States can now transfer money to his relatives in India within minutes.

Cash is still the king, but the advent of many fintech apps has made it easier for you to send money virtually. This has quite a bit to do with banking facilities being slow to adopt new ways of thinking and technology. Today, banks have become far more capable, but international transactions with them are still sluggish and a less than seamless experience.

It, inadvertently, means that people prefer using third-party apps for the same purpose. These technology companies have excelled in international transfers and ensured that the entire process is seamless for their customers.

Such developments are beneficial for migrant workers. With 93% of them having no control over the money once they send, it sometimes led to friction between the parties involved. So the rise of third-party fintech apps has been a boon for all those looking for innovation in money transfer services.

Nine low-cost apps for transferring money

1. Xare

Xare is unlike most other applications that you come across for money transfer. With Xare you don’t send money but simply share access instantly. It allows users to help others in times of need by creating and sharing a Xare card. The Xare card is funded with your credit or debit card, the card holders can set an upper limit on daily and monthly usage. They can also decide the expiry date.

Also, users get an innovative security system that safeguards all their credentials. Xare does not capture or save card. Once you issue a Xare card to anyone, they can use it across thousands of stores across the world with utmost ease.  

2. PayPal

When PayPal started, people were sceptical at what it aimed to achieve. Today, it has spread its business across all the corners of the world. The trust that it has built over the years has made it easier for expats and other individuals to use it with ease.

PayPal supports most banks across countries, and it has become one of the most dominant players in the money transfer landscape. Its fee varies from one country to another but is on the expensive side, but transferring money via its app takes a few seconds. Its strong encryption ensures that your money reaches the receiver safely.

3. Western Union

We talk of money transfer, and the first name that comes to our minds is that of the Western Union. Its application is no slouch either and offers some commendable shortcuts for expats.

Western Union adds a host of options for transferring funds within seconds. You also get to track your money in real-time. All you need is your MTN, and you get details about the processing, collection, and completion of your transaction.

4. MoneyGram

A service similar to Western Union, MoneyGram is one of the world’s prominent fund transfer organizations. It spreads across 200 countries and offers global support to expats and other users. It offers impeccable service, but its charges can be higher than the other apps we have listed here.

5. Venmo

Venmo is a subsidiary of PayPal but functions differently. The money transfer app is primarily for transferring money to friends. Users get the facility to link their debit cards or bank account to the app and split bills conveniently.

Venmo has an inbuilt social aspect that lets you share e-commerce purchases and other similar transactions. You will have to bear a 3% fee if you transfer money via credit cards, but debit card transactions are free.  

6. WorldRemit

As the name suggests, WorldRemit offers expats the freedom to send money to over 150 countries. It also claims that it can send money as quickly as you send a text message to your contacts. Another excellent feature of this application is that it enables the receiver to choose the payment mode, i.e., they can opt for cash pickup, bank deposit, airtime top-up, or mobile credit.

WorldRemit promises the highest level of security thanks to its industry-leading technology and a plethora of licenses. With its proven mechanism, it ensures that the receiver receives the money within minutes of the transaction. It also sends a completion notification to both parties.

7. TransferWise

Started by two Estonian fintech innovators, TransferWise has gained a lot of traction for international transfer in the last few years. It is available in over 59 countries and has offices across 14 different locations.

TransferWise also has a wallet that lets you store over 50 currencies and convert them at your convenience. It has no hidden fees and states that it saves users up to £3 million every day.

8. Azimo  

Azimo is a one-of-a-type money transfer app. It is specially built for international transactions and allows senders to keep a real-time tab on their sent money. It has also added destination-specific instructions to ensure that money transfer is a breeze.

Azimo does charge a fee for money transfer but offers over 200,000 pickup points globally.

9. Cash App

Developed by Square, Cash App is a mobile credit card processor application for peer-to-peer payments. It allows you to send and request money from anyone using the application. It also offers a wallet that enables users to send funds from a linked account without holding funds. The year 2018 saw it adding Bitcoin support, giving it an edge.

The Cash App allows a maximum transfer of USD 7500 and charges a fee for transferring money via a credit card. It also offers a very intuitive interface, making the overall process seamless.


Banking has lost its sheen. It is especially true when you consider the inability to handle international transactions, even after spending heavily on infrastructure. Apps like Xare are redefining the space, dispensing with the need to send money at all, they are possibly the best option for ex-pats and others to transfer money across countries and continents conveniently.

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