The Best Payments Apps for 2025
Updated
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Using a payments app can make it easy to pay others when you don't have cash on hand. You can use one of the best payments apps to pay someone through funds tied to a credit card, debit card, or bank account. Review our list of best payments apps for April 2025 to learn more about how these apps can be an excellent personal finance tool.
Bottom line: Venmo, which PayPal owns, is one of the best payments apps. It's a good choice if you need to send money to friends or family members. Whether you need to split the bill when you're out for dinner, send your roommate rent money, pay someone back, or send money for a birthday or holiday, this is an easy and convenient app to use. You can pay others with funds from your Venmo balance, credit card, debit card, or bank account. Also, Venmo allows you to request money from others.
You can even use your Venmo account to make payments through participating retailers and companies. Some participating brands include Uber, Poshmark, Grubhub, and CVS. If you use a credit card to pay others, Venmo charges a 3% fee. Your credit card issuer may also charge a fee. But sending money through a debit card or bank account is free. If you use Venmo regularly, you can apply for a Venmo debit card and use your account balance to pay for items wherever you go.
Bottom line: Due to its popularity, PayPal is arguably one of the most well-known and best payments apps available. You can quickly pay someone by entering their phone number, email address, or a PayPal.Me link it sends to you. You can also get paid for items that you sell. QR codes offer a contactless payment option customers use to pay you. PayPal also allows you to request money from others.
Money is sent directly to a user's PayPal account. Then, they can transfer the money instantly to a bank account or debit card for a small fee, or transfer the funds to their bank account for free. Bank account transfers can happen in as little as one day, but it can take up to five days for some users. PayPal is more than a payments app -- it also has a credit card, debit cards, and prepaid cards, which users can apply for. If you open a PayPal Balance account, you can set up direct deposit and mobile check cashing.
Bottom line: Zelle is another one of the best payments apps on our list because the company partners with many U.S. banks and credit unions. This app makes sending money to others easy, even if they use a different bank. You can use the Zelle app on its own or check to see if your bank has Zelle integrated within its banking app -- as many banks do. You can send money to others using their email address or phone number.
Since Zelle uses funds sent through bank accounts, there is no fee to send or receive money. Funds sent through Zelle are typically available within minutes. The sender and receiver must have a U.S. checking or savings account to use Zelle. That means this app isn't the best option to send money internationally.
Bottom line: Cash App is another payments app option you can use to send and receive money. Users can send a payment by entering a $cashtag, phone number, email address, or scanning a QR code. Sending money is free unless you're using a credit card, in which case you'll be charged a 3% fee. Cash App is a bit different from other best payments apps on our list because it allows users to buy, sell, and withdraw Bitcoin and buy and sell stocks.
You can also request a free Cash Card, a customizable debit card that can be used to make payments online and in-store. This card also gives users access to discounts from select retailers. Cash App can be used as a banking app, too. You can receive paychecks, tax returns, and other direct deposits up to two days early.
Bottom line: The last best payments app on our list is Xoom, a service that PayPal developed to make it easy to send money internationally. Money can be sent to a bank account, debit card, mobile wallet, to a partner pickup location, or sent for delivery to someone's door. This payments app supports sending money to over 160 countries. When you use Xoom to send money, you'll get 24/7 status updates throughout the payment process.
Xoom charges fees to send money, but the pricing is transparent and upfront. Fees vary depending on the country. You can use the Fee Calculator to review fees before sending money.
When comparing the best payments apps, you should consider your habits and needs. If you plan to send money to other people within the United States, your app of choice won't need international capabilities. If you send money globally, you'll want to choose a payments app that works internationally. You may also want to consider the kind of phone you have, because Apple Pay won't work on Android devices.
Payments apps are easy to use. You'll need to download the app and create an account to use the app's features. From there, you can view your current account balance, send payments, request payments, and withdraw funds.
You'll need to enter the recipient's details to send a payment. This may be an app username, email address, or phone number. You'll then confirm the amount that you're sending and hit send.
You can use payment apps to receive payments, too. There are two ways to do this:
Many of the best payments apps are free to use and download. There may be fees depending on what activities you do within the app. It's not abnormal to pay a fee if you're using a credit card to fund a payment. It's also not uncommon to pay a fee if you're using a payments app to transfer money to your bank instantly.
Typically, these money apps charge users 3% when funding a payment through a credit card. Otherwise, sending money through a bank account or debit card is free.
Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.
| Account | APY | Promotion | Next Steps |
|---|---|---|---|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
up to 3.80%²
Rate info
You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
|
New customers can earn up to a $300 bonus with qualifying direct deposits!¹
|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
Open Account for CIT Platinum Savings
On CIT's Secure Website.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
4.10% APY for balances of $5,000 or more
Rate info
4.10% APY for balances of $5,000 or more; otherwise, 0.25% APY
Min. to earn: $100 to open account, $5,000+ for max APY
|
Earn a bonus of at least $225 after a one-time deposit of $25,000+.
Transfer a one-time deposit of $25,000-$49,999.99 for a bonus of $225. Transfer a one-time deposit of $50,000+ for a bonus of $300. Account must be opened with code PS2025 while this promotion lasts, and funded within 30 days. Bonus will be fulfilled within 60 days from the funding date. There is no period of time where the customer will be required to maintain the funds. Account must be open when bonus is credited. One bonus per account and primary customer. Bonus will be credited into the Platinum Savings Account that fulfills the funding requirement. Funding can be deposited all at once or incrementally.
|
Open Account for CIT Platinum Savings
On CIT's Secure Website. |
Open Account for American Express® High Yield Savings
On American Express's Secure Website.
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
3.70%
Rate info
3.70% annual percentage yield as of April 16, 2025. Terms apply.
Min. to earn: $0
|
N/A
|
Open Account for American Express® High Yield Savings
On American Express's Secure Website. |
SoFi disclosure:
¹ New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking#1.
² SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
³ We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.
⁴ SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.
Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
⁵ We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.
⁶ Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
⁷ Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with direct deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the“30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.
Many payments apps allow you to send payments instantly. Zelle, Venmo, and PayPal payments typically appear instantly in a recipient's account. When sending money through Google Pay funded by a Google Pay balance or a debit card, payment transfers happen quickly -- but may take up to 24 hours. Other forms of payment can take longer.
If you plan to cash out your payments app balance, be aware that instant transfers may come with a fee. For example, PayPal and Cash App both charge fees for depositing money in your account balance to your bank account instantly.
Yes. Payments apps have security features in place to keep you safe. Many payments apps also mask your credit or debit card number so your data is not at risk. You can feel confident using payments apps if it's reputable and well-known.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Motley Fool Money is 100% owned and operated by The Motley Fool. Our knowledgeable team of personal finance editors and analysts are employed by The Motley Fool and held to the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands. Terms may apply to offers listed on this page.
