Transferring money is easier than ever with many financial apps to choose from on the market. With these services, you can transfer funds between financial institutions, friends and family, send money from a bank account, or receive money from friends and family.
There are several factors to consider when choosing the best money transfer app. Here are the top three:
Interest Rates. Before making any purchases on a phone or computer, you want to make sure you know how much your current interest rate will be for the amount of money you intend to transfer.
Credit Card-to-Credit Card Transfers. You can use a credit card to transfer money between two different cards, but some cards will charge you a fee if you try to do so using a card that is not linked to the account.
PayPal, Neteller, Moneybookers, and cash transfer services are a few of the most popular methods of transferring money across state lines. It is best to research how much these services charge and what their fees are before signing up for a service.
Your Account is Not Up to Date. Any transfer service that processes payments over the internet will always require you to update your account to avoid penalties for non-transaction.
Find Out the Maximum Money Amount Transferring Money Across State Lines Can Get You. It is important to know this so you do not exceed it by accident and have to pay for overage fees or be charged additional fees for overage.
Mobile Device Security. The Internet provides a wealth of information about security threats including identity theft, viruses, and spyware, as well as guidelines on how to use secure browsing, desktop security, and other personal measures.
Cell Phone Theft. To avoid theft of your cell phone, make sure that it is password protected, has anti-theft features, and is connected to a wireless network that does not transmit outside the area where it is installed.
Mobile Data Usage. Data from your mobile device will count against your mobile data plan, so do not access the Internet via mobile devices if you do not need to use the Internet while in the car.
Debit Card Account Holders. If you use a debit card to withdraw money from your account, there may be a debit card holder limit that will apply when withdrawing funds.
Finding the best money transfer app is only half the battle. It is also important to look for one that has a free trial and allows you to transfer money between accounts and checks the status of your transfer right away.