By February 7, 2018 1 Comments Read More →

Cash Transfer Apps

People carry around less cash these days, opting instead for safer and more convenient digital options like debit and credit cards or so-called digital wallets.

So what do you do if you owe someone money? Our PC Mike Wendland has three apps that’ll help you out.

Venmo is a mobile payment app that allows users to make and share payments to family and friends in the U.S. using a smartphone number or email. When ready, recipients simply hit the “cash out” button and it’ll be in the bank account in one to three business days. The app is free for iOS and Android.

Zelle is quickly becoming the go-to app for transferring money because of so many reputable banks and credit unions that are on board with it. The biggest advantage of using Zelle is that transfers can be done in minutes (though the first transfer takes one to three business days). The app is free for iOS and Android.

The Cash App from Square Cash is probably the simplest to use due to its straightforward design. It does also offer some advantages over its competitors, such as the ability to enable auto cash out and cancel transactions, if necessary.  The app is free for iOS and Android.

About the Author:

Mike is a veteran journalist whose video "PC Mike" reports have been distributed weekly to all 215 NBC-TV stations since 1994, making him one of the most experienced tech reporters in the country. His tech stories and videos have appeared on MSNBC, CNBC, the Today Show, The New York Times, USA Today and in numerous national newspapers and magazines. In addition to the PC Mike tech blog, he also publishes the RV Travel Blog in which he travels North America in an RV reporting about interesting people and places.
  • Teri Fox Ruhe

    What about taxes mike? My husband thinks because its a digital transaction of money i would now have to claim it on my taxes. Is this true?