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What's the best app for transferring money?

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UKGrad93

Heisman
Jun 20, 2007
17,437
22,789
0
Long story short, a relative in another state owes my wife some money and asked if we would setup a bank account in his town for him to make deposits. I don't like the idea of someone else having access to an account like that. Plus, I don't really want a bank account in another state.

I'm thinking about using a money transfer app, Zelle, PayPal, Venmo. What works? What should I be aware of? Can any of these do automatic payments (payment once a month)?
 
S

stuway

All-American
Mar 29, 2007
4,543
5,913
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Yeah Venmo is far the best IMO. It is very user friendly and quite easy to navigate. The money instant as well. Ive used all 3 you've mentioned and a big Venmo fan personally
 
C

Canned Heat

Heisman
Dec 10, 2006
17,839
24,968
0
Ask the Relative if they use Venmo or Paypal first. If they use one of the them, then set up an account the one they have.

Otherwise, just have him send you cashier checks.
 
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M

mdlUK.1

Heisman
Dec 23, 2002
29,712
57,543
0
UKGrad93 said:
Long story short, a relative in another state owes my wife some money and asked if we would setup a bank account in his town for him to make deposits. I don't like the idea of someone else having access to an account like that. Plus, I don't really want a bank account in another state.

I'm thinking about using a money transfer app, Zelle, PayPal, Venmo. What works? What should I be aware of? Can any of these do automatic payments (payment once a month)?
Click to expand...
Most major banks offer Zelle as a free service. I use it all the time. The person receiving (or sending you money) does not know your bank info.
 
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U

UKGrad93

Heisman
Jun 20, 2007
17,437
22,789
0
If we go with Venmo, can I transfer the money from the Venmo account to my bank account?
 
U

UKGrad93

Heisman
Jun 20, 2007
17,437
22,789
0
Thanks guys. Hopefully I can convince him to use one of these apps. Otherwise, I expect to hear "check's in the mail" often.
 
U

ukalum1988

Heisman
Dec 21, 2014
11,897
30,434
113
UKGrad93 said:
If we go with Venmo, can I transfer the money from the Venmo account to my bank account?
Click to expand...
Both PayPal and Venmo can be set up to transfer to a designated bank accounts. They’ll give you the option for an “instant” transfer for a fee or wait 1-3 business days for an automatic “free” transfer.

I’ve never used Zelle.
 
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ScrewDuke1

ScrewDuke1

Hall of Famer
Jul 29, 2016
40,431
149,000
113
What's your bank account number, credit card numbers and social security numbers? Give me this information and I promise I'll deliver the money for you.
 
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CB3UK

CB3UK

Hall of Famer
Apr 15, 2012
62,672
102,947
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Yep, everyone's covered the Big 3. If the guy has a bank account and a smart phone and is sincere about repaying then zero reason he cant setup one of those apps.
 
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LineSkiCat14

LineSkiCat14

Heisman
Aug 5, 2015
37,316
57,160
113
I use Venmo.. but if you pop the hood, you find a lot of concerning stuff. A lot of plaintext info being passed around from when I last looked.. like How much you paid, to who, for what.. I should see if that's still the case.
 
funKYcat75

funKYcat75

Heisman
Apr 10, 2008
32,293
40,727
112
I use Zelle but it’s within my bank’s app. Use it for back and forth $ between me and my son. Venmo a few times too.
 
K

KyCatFan_rivals45723

Heisman
May 6, 2002
30,804
31,517
0
UKGrad93 said:
If we go with Venmo, can I transfer the money from the Venmo account to my bank account?
Click to expand...

I haven't used it but my son does to pay his portion of the car insurance. It transfers into our bank account.

Remember the old days of using Western Union to send money to others? I'm surprised they don't have an app for doing that (or do they?).
 
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