What payment app has the lowest fees?
PayPal: Fees. Fees for the two services are fairly similar. Both offer free payments from linked bank accounts, and both charge about 3% for payments from a credit card.
| App | Operating System |
|---|---|
| Cash App Best for Low Fees | iOS and Android |
| Venmo Best for Shared Bills | iOS and Android |
| Facebook Pay Best for Small Transfers | Depends on the apps you already use |
| Zelle Best for Bank to Bank Transfers | iOS and Android |
| App Name | Key Features |
|---|---|
| Paytm | Paytm E-Wallet Soundbox Paytm Postpaid Stock Options Insurance Options |
| Phone Pe | UPI International One tap subscription Link Credit cards on UPI |
| CRED | CRED Protect CRED Store Step up cashback |
| MobiKwik | Xtra – Flexi & Plus ZIP EMI ZIP Pay Later |
| App | Available for | Best for |
|---|---|---|
| Google Wallet | Android and web | Non-Apple enthusiasts |
| Zelle | iOS, Android and web (but check your banking app first to see if you have access) | Sending money to friends instantly |
| Venmo | iOS, Android and web | Bigger spenders |
| PayPal | iOS, Android and web | Earning online rewards |
PayPal: Fees. Fees for the two services are fairly similar. Both offer free payments from linked bank accounts, and both charge about 3% for payments from a credit card.
Fees and Charges
Venmo charges a 3% fee for transactions made with a linked credit card, while Cash App charges 3% for credit card transactions and a 2.75% fee when accepting credit card payments as a business.
It's completely free to send and receive money domestically from a linked bank account or another user. If you top up by cash at participating stores, then PayPal will charge a $3.95 fee while Cash App will charge $4.00.
Venmo offers a free platform for transferring money between private parties, with options to fund transactions via credit card for a small fee. It's also free to pay for purchases in-store using Venmo (but not by tapping into a credit card.)
- Paypal: Best overall.
- Venmo: Best for sending money.
- Cash App: Best if you like options.
- Google Pay: Best for Google suite users.
- Apple Pay: Best for Apple users.
- Zelle: Best for sending money directly.
- Western Union: Best for traditional domestic transfers.
Braintree
Another popular Venmo alternative owned by PayPal, Braintree is a powerful web-based payment system that primarily benefits business users — especially in terms of security and reporting capabilities.
Which is the No 1 payment App in the world?
| Company | Operating System |
|---|---|
| PayPal Best for Ease of Use and Convenience | iOS and Android |
| QuickBooks Online Mobile Best for Small Business | iOS and Android |
| Wise Best for International Payments | iOS and Android |
| Stripe Best for Freelancers | iOS and Android |
Zelle® doesn't charge a fee to send or receive money. We recommend confirming with your bank or credit union that there are no fees for Zelle® transactions.
Potential scams and hackers.
The biggest downside to using Venmo is the potential for your money to be stolen. If a hacker gains access to your Venmo, it's pretty easy to change the associated bank account – so the hacker could change the account to their own and transfer the money in your Venmo to their bank.
- Use the "Friends and Family" option. When sending money through PayPal, you have the option to use the 'Friends and Family' category instead of 'Goods and Services'. ...
- Receive payments in the same currency. ...
- Offer local pickup or delivery options. ...
- Use other payment methods if possible.
Adyen offers low prices and doesn't have any monthly fees. It also offers support for in-person payments. If you're an omnichannel merchant, Adyen has tools that connect your sales data, wherever you sell. No monthly, setup, integration or closure fees.
Skrill might be the right alternative to PayPal for you, if you need to send and receive payments to other Skrill customers - these transactions are typically fast and free, so long as there's no currency conversion required. 💡New to Skrill?
Like Venmo, Cash App is all about sending and receiving money easily, conveniently, and securely. However, with Cash App, you can use its $Cashtag feature to do those things rather than using a bank account number, phone number, or email address (though you'll need to share that information to register for an account).
Basically, there are no Cash App fees for sending money if you stick to standard transfers that are processed within 1-3 business days. For instant payments, though, you'll have to pay fees ranging between 0.5%-1.75%. Transfers supported by credit cards will also cost you 3% per transaction.
Deciding whether Venmo or Cash App is better for you really depends on what you're looking for. If you enjoy the social aspect and want a simple money transfer app, Venmo might be your best bet. If you're interested in investing and prefer a more finance-focused app, Cash App could be the one for you.
While PayPal offers significantly more payment options and features than Zelle, it comes at a notably higher cost. So if your business has a high transaction volume, you may find PayPal to become an unnecessarily costly option with a confusing fee structure. Zelle, for instance, doesn't charge any transaction fees.
What are the disadvantages of PayPal?
Despite the benefits, businesses should be aware of PayPal transaction fees, account freezes, lack of customization options, high currency conversion fees, and the possibility of chargebacks.
Perhaps the most notable difference between PayPal and Venmo fees for most personal users is that PayPal charges a 2.90% fee for personal debit card transactions, while personal debit card transactions are fee-free on Venmo. Pay attention to what kind of transaction you are making.
Use your Venmo balance, bank account, or debit card instead.
A simple way to avoid the 3% credit card fee is to opt for your existing Venmo balance or connected bank or debit card instead.
How much is the PayPal fee for $100? For the most common PayPal fee of 3.49% + $0.49, the fee for a $100 transaction will be $3.98, making the total money received after fees $96.02. Example 1: You send an invoice to a client for $500 to be paid via PayPal Checkout or Guest Checkout.
There will be a fee if you transfer money to your bank account with an Instant Transfer. If you choose an Instant Transfer, Venmo charges one percent (with a minimum fee of 25 cents and a maximum of $10). Standard bank withdrawals, which take 1-3 business days, are always free.
