Cash App is a peer-to-peer (P2P) payment app that allows users to transfer money to one another for free. Today we will discuss the top 7 best send money from PayPal to Cash App alternatives to make online payments easier for you.
Cash App has its headquarters located in San Francisco, California, and was established at the end of 2013 by FinTech giant Square and later rebranded by the name Block.
While the app may initially be known for its ability to allow free Send Money from PayPal to Cash App payments, it has extended to other aspects of users’ lifestyles.
Block introduced the service under Square Cash to be competitive with Venmo. It allowed users to transfer money without cost by simply including an email address. Square was created by Twitter co-founders Jack Dorsey and Jim McKelvey who wanted to grow its payment network, including merchant services like the iPad payment system and swiper.
Over time, Square expanded the app’s capabilities by accepting payments from businesses (2015) or introducing support for trading bitcoin (2018).
Today the Cash App provides an account-linked debit card, the ability to receive paychecks up to 2 days in advance and the possibility of purchasing stocks or crypto, in addition to permitting its users to file tax returns.
Thus, those services resulted in significant revenue for Block. In 2021 it was reported that the Cash App generated $12.32 billion in revenue. Additionally, it’s highly profitable because of its fee-based operating model.
An estimated 44 million users currently use the app every month. Of the 44 million users, 13 million have also applied for a debit card.
It shouldn’t be unexpected to see Block continue to improve the capabilities of its app to make it an app that can be considered a super-financial one.
It’s accessible only to customers residing in the United States and the United Kingdom, so you cannot accept payments from clients outside the United States and the UK.
While Cash App Bank Name could be a viable alternative for some but it’s not the only choice for a peer-to-peer money transfer application.
This article will look at the seven best send money from PayPal to Cash App alternatives to facilitate online banking and peer-to-peer money transfer.
Best Send Money from PayPal to Cash App Alternatives And Competitors
We have mentioned the list of 7 top Cash App Alternatives Competitors below. It is essential to note here the list provided below is not in any specific order.
PayPal — Overall Best For Personal And Business Money Transfers Internationally
- Headquarter Location: San Jose, California
- Founder(s): Elon Musk, Ken Howery, Luke Nosek, Mallikarjun Yagnavajulla, Max Levchin, Peter Thiel, Rod D. Martin, Senthil Udayasooriyan
- Year Founded in : 1998
While Paypal is known especially for business transactions, it works exceptionally well for everyday local P2P transfers and is also free!
The most significant benefit is that verified users have a considerable transfer limit. It’s a great benefit; however, it’s not essential for your typical P2P transfer.
It also has unique extra features, like bill splitting and adding Emojis (but it’s nothing to get excited over).
They also allow international transfers; however, their rates aren’t great. You can compare the rate with other apps. But, PayPal has a good reputation as a brand and could be an option for those who want to feel assured that money will be in the care of a reputable business.
App Compatibility: It is compatible with Android, iOS and Web
Payment Limitations: If you’re a verified PayPal user, you can transfer as much as $60,000 per transaction. Some countries might restrict your transfer to USD 10,000 for a single transfer.
Applicable Charges: If you transfer money from your PayPal balance to a different Paypal account in the US, it is free and will not cost you anything.
For transactions that cross borders that aren’t supported through the balance of your PayPal account, you may be expected to incur a card or bank fee or a cost for conversion of currency and an additional markup to rates of exchange.
If you make a purchase using your credit card, You’ll be charged the standard cash advance fee of 3%.
Additional fantastic options: Send Emojis with a transfer short notes “Money Pool” for bill splitting.
Zelle — Integrated With The Majority Of Banking Apps Within The US
- Headquarter Location: Scottsdale, Arizona
- Founder(s): Bank of America, JPMorgan Chase, Wells Fargo
- Year Founded In: 2016
What is distinctive about Zelle online payment service is that it’s already integrated with various banking apps in the US.
If the bank you use is an associate member, you can just activate it on your current banking app. It’s that easy! You don’t need to install a third-party application.
The transfer limits are also reasonable. While it operates its functions well, it’s all it can do; It is an excellent option for those looking for an easy local money transfer service without all the bells and whistles.
App Compatibility: Zelle can be integrated into mobile apps of a majority of US financial institutions as well as credit unions (for instance, Chase, Bank of America, Citi Bank, USBank, WellsFargo, etc.
However, if your financial institution does not support Zelle at the moment, you can still use them to transfer money through their iOS or Android application.
Payment Limitations: Each participating credit union or bank has a limit for sending on Zelle as per the rolling windows (daily, weekly, monthly, etc.).
For instance, Bank of America allows users to make ten transfers up to USD 3500 (single transfer limit) throughout the day. Business owners can perform 20 transfers of $15,000 each within the same time frame. Also, there are rolling monthly and weekly limits.
If your credit union or bank isn’t one of the participating institutions, You can still join Zelle; however, the limit is $500 per week.
Applicable charges: Sending and receiving funds using Zelle is cost-free. However, your bank could still charge a nominal fee.
Google Pay — Higher Limits For Payments With The Money Management Feature
- Headquarter Location: Mountain View, California
- Founder(s): Google
- Year Founded In : 2015
Google Pay lets you send, receive, or request money by adding your bank account. Additionally, you can use Google Pay to purchase things and services online with great convenience.
It is also helpful for owners of smartwatches since it allows you to pay using NFC.
Additionally, Google Pay allows you to split expenses with those you love. Although Google Pay is only supported in a few countries, its expansion is anticipated in the coming days.
Security is another aspect in which Google Pay shines because of the robust encryption system that the giant search uses.
App compatibility: both Android as well as iOS
Payment Limitations: Google Pay allows you to transfer as much as USD 10,000 in one transaction.
Applicable Charges: P2P payments are free when financed via debit card or bank account; however, a 2.9 percent fee is charged when a credit card is used to fund the transaction.
Apple Pay — Simple Interface With High Limits
- Headquarters Location: Cupertino, California
- Founder(s): Apple
- Year Founded: In 2014
Apple Pay is the most secure method to make online payments if you’re a part of Apple Pay and the Apple ecosystem. It lets you request fund transfers through iMessage and can be very useful.
Although the charges for credit card transfers aren’t the most affordable, the excellent security makes the upside. There are no fees for the transaction using a debit card or a bank account.
The main negative is that Android users won’t be able to use Apple Pay, and there are no additional options.
Apple Pay is the right choice if you want a straightforward, easy P2P payment method that’s only accessible on iOS.
App Compatibility: Apple pay is only compatible with iOS
Payment Limitations: You can send a P2P minimum transaction of 1 USD, with a maximum of $ 10,000 per transaction and up to USD 20,000 weekly.
Applicable Charges: There aren’t any charges for P2P or online transactions (when the debit you use is connected to Apple Pay). However, if you make payments to family members, friends, or businesses using credit cards linked with your Apple Pay account, you’ll have to pay a fee of 3% of the total transaction amount.
Chime
- Headquarter Location: San Francisco, California
- Founder(s): Chris Britt, Ryan King
- Year Founded In: 2013
Chime is referred to as a new bank. In contrast to traditional banks, the company has no physical branches, offering its services online.
In reality, Chime is technically not a banking institution. It obtains its banking license through an agreement with The Bancorp Bank, which can provide Chime customers FDIC insurance up to $250,000.
It is interesting to note that Chime has also got subjected to legal trouble. In May 2021, the Californian regulator directed Chime to stop referring to itself as a bank. So Chime even changed its domain name from chimebanking.com to chime.com.
However, these issues haven’t stopped the company’s growth. With more than 13 million users, Chime is widely considered to be the most admired Neobank in the United States. Chime is worth $25 billion. It was made possible by Chime’s $2.3 billion it received in venture capital. 2021 was the last time Chime was reported to generate around 1 billion dollars in revenue.
It has a range of benefits like overdraft protection, the ability to make free ATM withdrawals, the possibility of being paid sooner, and a company-branded debit card.
In March 2021, Chime also competed with similar Venmo and send money from PayPal to Cash App products when it launched P2P transactions. Customers can send money to each other instantaneously using the company’s pay Anyone feature. Every user receives a $ChimeSign, an ID unique to each user that functions as a username.
Venmo — Quick Bill Splitting With Fun And Social Features
- Headquarter Location: New York City, New York
- Founder(s): Andrew Kortina, Iqram Magdon-Ismail
- Year Founded In: 2009
Venmo was started by PayPal in 2009 and is still among the top sought-after P2P payment platforms across the US.
Venmo’s social aspect features, such as adding emojis into your transfer notes and the feed of updates from friends at the bottom of the page, differentiates it from other apps.
There are many attractive personal financial benefits, such as receiving your paycheck and selling or buying cryptocurrencies. It is an excellent option if you want to get more value from your payment application P2P.
The significant drawbacks are poor customer support, the inability to make international transactions, and the transfer limits aren’t as high if your identity isn’t confirmed.
App Compatibility: It is compatible with both Android and iOS
Payment Limitations: When signing up with Venmo, the maximum amount you can send will be $299 per week. Once you have verified your identity, the limit will increase by $4,999.99 weekly (the max limit per transaction). Limits for Venmo MasterCard debit cards are higher. Venmo MasterCard debit card will be heftier by 6,999.99 dollars per week (and USD 2,999.99 per transaction at the max)
Applicable fees: Setting up a Venmo account and then sending and receiving money with Venmo is free. If you possess a Venmo MasterCard, it will allow free withdrawals from in-network ATMs.
But, you’ll be charged 3 percent of the transfer amount for instant transfers (because they are funded with a credit card). Also, you’ll be charged USD 2.50 for each withdrawal made at ATMs outside of the network.
Samsung Pay
Headquarters: Suwon-si, South Korea
Founder(s): Samsung Electronics
Year Founded: 2015
The final tech giant on this list that has given the possibility of payments is Samsung, which made its debut in 2015. In February 2015, Samsung purchased LoopPay, which had previously created technology that let people pay each other, using specialized hardware in phones and other hardware.
In their Galaxy 6 smartphone model, Samsung started incorporating LoopPay’s tech to provide NFC-based transactions. As a smartphone maker, Samsung had become a superior competitor to Apple, which had just launched its payment solution.
Like Google and Apple’s products, Samsung Pay lets you connect your credit, debit, or loyalty cards and pay merchants using commands (swiping up on the cases on a Samsung phone).
Furthermore, it allows users to transfer money to their family and friends without cost and earn send money from PayPal to Cash App rewards. have a debit card with a logo and purchase train tickets or crypto, and allows users to upload their vaccination records.
In recent years, Samsung also integrated its Pass product, which allows users to save airline tickets, coupons, and other items inside the Samsung Pay application.
Samsung Pay only trails Apple and Google Pay in user numbers. The company currently has 17 million customers within the United States alone. However, the majority of members are in Asian countries like South Korea. You can use Samsung Pay on Samsung-branded phones as well as smartwatches.
CONCLUSION
To Summarize, we have mentioned the seven best send money from PayPal to Cash App alternatives in this article for your perusal.
Cash App is excellent If you’re looking for an app for payments that can do something of all the above such as P2P transactions and Bitcoin transactions, as well as digital banking and international (USD-GBP) transfers. But this isn’t the sole option there!
Numerous other services offer the same (sometimes even greater) attributes!
For instance, Venmo has bill splitting and fun social features and can support a greater variety of stocks and bitcoin for selling and buying. If you’re searching for universal compatibility, PayPal is the best out of the rest.
Apple Pay seems like an excellent choice if you’re an Apple user. Zelle is a good alternative, too, but only if you are within the US.
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