Venmo is a popular app that people use to send and receive money from their friends for everyday tasks such as splitting bills or paying vacation-related expenses. Although Venmo is a very convenient app, it’s good to know which alternatives are available on the market because another app might suit your digital payment needs better. In this article, we are highlighting the best Venmo alternatives available in 2024.
Here are the best Venmo alternatives in 2024:
Cash App – The best Venmo alternative overall
Apple Cash – Best app like Venmo for those who own an Apple device
PayPal – One of the best online payments app overall
Zelle – Payment solution integrated with a large number of US banks
Revolut – Fully-featured fintech platform that can serve as a good Venmo alternative
Wise – Best Venmo alternative for international money transfers
Strike – Best Venmo alternative for Bitcoin enthusiasts
The best Venmo alternatives in 2024
If you’re looking for the best apps like Venmo, we’re certain that our selection will help you find an app that suits your needs perfectly.
While we've mainly highlighted apps that facilitate easy peer-to-peer payments, many of the apps on our list also offer additional features such as international money transfers, investing, savings, and more.
1. Cash App – The best Venmo alternative overall
Cash App is a highly popular financial services app that makes it easy to to send and receive money almost instantaneously. The app also allows users to invest in stocks and Bitcoin and offers a Visa debit card that makes it easy for users to spend their Cash App balances in everyday situations.
Cash App can be used similarly to Venmo, and you can make payments to other Cash App users simply by entering their phone number, email address or “cashtag”. Such payments are free of charge, as Cash App doesn’t charge any fees for receiving and sending money.
In contrast to Venmo, Cash App also allows users to send stocks and Bitcoin to other users, in addition to cash. While this feature might only come in handy to a small number of users, it doesn’t hurt to have the option.
When using Cash App as a banking platform, Cash App says that deposits such as paychecks and tax refunds arrive to users’ accounts up to 2 days faster than most competing banks.
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2. Apple Cash – Best Venmo alternative for those who own an Apple device
Apple Cash is a digital card available to iPhone users that makes it easy for users to send and receive money. Users can access Apple Cash in the Wallet app, and send and receive money either via Wallet or messages.
One handy feature of Apple Cash is that if the online store you’re using doesn’t accept Apple Pay, you can still use Apple Cash to make a payment (remember, it works as a virtual card).
When sending or receiving money via Apple Cash, you won’t be paying any fees. However, if you want to instantly transfer money from your Apple Cash balance to your bank account, Apple charges a 1.5% fee.
Users can add money to their Apple Cash balance with a debit or prepaid card. In addition to making payments to your friends and family, Apple Cash can be used to fund Apple Pay purchases anywhere Apple Pay is accepted. If you have an Apple credit card, you can also receive cashback rewards via Apple Cash.
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3. PayPal – One of the best online payments app overall
PayPal is one of the world’s leading digital payment platforms, boasting over 190 million active accounts. While it’s mostly known for enabling online shopping payments, PayPal also allows users to send money to friends and family. One of PayPal’s convenient features is the ability to send a money request to anyone with an email address, even if they don’t have a PayPal account yet.
For domestic payments between PayPal accounts, there are no fees. However, for payments made with cards, PayPal charges 2.9% of the transaction amount plus a fixed fee.
PayPal also offers additional benefits such as a credit card, pay-later options, rewards, cash back, and the ability to purchase Bitcoin, similar to Cash App's features. Unlike Cash App, however, PayPal doesn’t have a stock investing option.
To ensure user security, PayPal employs advanced encryption and fraud monitoring, providing a safe environment for all transactions on the platform.
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4. Zelle – Payment solution integrated with a large number of US banks
Zelle is a convenient solution for sending money to friends and family, even if the recipients use different banks. It is integrated into many banking applications, so you may not need to install a separate app to use it. For a complete list of banks that support Zelle, visit the official Zelle website.
Using just your recipient’s email address or mobile number, Zelle allows you to easily and securely send money to almost anyone you know and trust. Best of all, Zelle does not charge any fees for its services.
Payments made through Zelle are deposited directly into the recipient’s bank account, making transactions quick and straightforward. However, it's important to use Zelle only with people you know and trust, as it does not offer fraud protection. Additionally, it’s important to keep in mind Zelle is currently only available in the United States.
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5. Revolut – Fully-featured fintech platform that can serve as a good Venmo alternative
Revolut is a neobank and fintech company headquartered in London, licensed by the Bank of Lithuania. It offers a mobile app that provides a wide range of money management, payment, and investment services.
One of Revolut's many features is the ability to send and receive money from friends. The app includes “social finance” features such as bill splitting and sending gifts. You can transfer money directly to your Revolut contacts or create unique payment links for easy payments.
One perk of Revolut is that the platform allows users to invest in Bitcoin and more than 130 other cryptocurrencies. Users can also earn small amounts of crypto on Revolut by learning about cryptocurrency and blockchain technology. However, please note that Revolut’s crypto features are not available in the United States.
Revolut is available for free but also offers two premium tiers for advanced features – the Premium plan at $9.99 per month and the Metal plan at $16.99 per month.
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6. Wise – Best Venmo alternative for international money transfers
Wise is an online platform that allows users to manage their money and supports more than 40 currencies for international transfers. It is an excellent alternative to Venmo for those who frequently need to send money internationally. Wise is also a great choice for sending money to friends, as domestic transfers between Wise users are fee-free.
Wise offers both virtual and physical cards that function like debit cards. The virtual card is compatible with various mobile wallets, including Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, and Garmin Pay.
Additionally, the Wise card allows you to withdraw up to $100 from ATMs abroad without any additional fees, though a small fee applies to ATM withdrawals exceeding the first $100.
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7. Strike – Best Venmo alternative for Bitcoin enthusiasts
Strike is a mobile payment app leveraging the Bitcoin network to offer fast and cheap global transactions. Available on iOS and Android in the U.S. and several other countries, it enables users to send and receive money in various currencies, including Bitcoin, without intermediaries or fees.
Strike has a partnership with Shopify that allows users to make payments at millions of American online stores.
The app employs the Lightning Network for transactions, ensuring quick and fee-free transfers. Users can withdraw and deposit BTC from their Lightning wallets, scan QR codes for payments, make micropayments, tip content creators, and earn cash back with a rewards card.
Globally, Strike supports Bitcoin transactions at thousands of merchants. Additionally, users can convert a portion (1% to 100%) of their paychecks into Bitcoin automatically using a routing number, making it an attractive option for integrating cryptocurrency into one’s financial life.
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The bottom line
Hopefully, our list of the best Cash App alternatives has helped you find the right online payments app for your needs. While Cash App is an excellent platform, it might not be perfect for everyone, and a competitor could be a better choice for you.
If you’re interested in learning more about digital payments, be sure to check out our list of the best free virtual credit cards.
