Internet has made life easy and smartphone easier. According to statistics, more then 60% of people use smartphones for every online activity, be it social media, music, games, academic assignments as well as their financial dealings. Online banking definitely made everything more convenient and now people can keep track of their financial situations through smartphones. This is especially useful for the millennial generation and teenagers who seek independence but not the responsibilities that comes with it and often find themselves in financial ditches.
The situations where a teenager or college student doesn’t have money for rent, food and transportation are frequent. It is also common for youngsters to accumulate credit card debt due to overspending and mishandling of finances. However, smartphones and internet has a solution for everything and this time, in the form of money transfer apps. Money Transfer apps have been around for a few years now, like PayPal, MoneyGram but they were mostly used for international money transfers and business transactions. But now, there are a lot of apps that focus on the financial needs of teens and college students. This article lists some of the best money transfer apps for students.
PayPal is among the oldest money transfer services and now it is available as a smartphone app as well. You will need to open a PayPal account or link to an existing bank account to transfer money. PayPal allows you to send and receive money from anywhere in the US. You can use it for rent payments, buy food or pay for online shopping. You can also use PayPal app to purchase goods at various outlets. It is available for iOS and Android smartphones.
Google wallet is a trusted app that is easy to use as well as secure. It requires your fingerprint for access which ensures the utmost safety of your finances. You can send and receive money from your friends and family through Google Wallet. Plus, you can make purchases on Playstore and other online franchises. The easy to use design and interface makes it one of the most popular money transfer app on the internet. You need to link it to your bank account or debit card before using. Android as well as iOS users can download it.
Most money transfer apps are only compatible with debit cards and bank accounts however, you can now use your credit card with Venmo as well. It only charges a minimal of 3% additional fee for credit cards and in turn provides you with high grade security, so you don’t have to worry about hackers stealing your financial information and money. Venmo has an attractive user interface which is easy to use. You can use it to transfer money to family and friends all over the US.
This money transfer app is perfect for students who are studying abroad and continuously need financial resources. MoneyGram makes it incredibly easy to send and receive money from over 200 countries in the world. It also allows extra features like checking a pre-transfer cost estimation and lower exchange rates, plus you can get multiple promotions and discounts as well. You can download it for Android and iOS smartphones but it is also available for PC.
When it comes to money transfer apps for international usage, WorldFirst is one of the best and well-know app in the market. Parents can send money to their children living abroad in merely 30 seconds at low exchange rate and minimum conversion fee. It also allows you to track transactions and live financial updates. You can download it from Android and iOS store.