A DETAILED LOOK AT THE APPLICATIONS:
Google Pay—Best for Android users
Compatible with: Android and iOS.
Payment limits: You can send up to $9,999 in one transaction or up to $10,000 in seven days. Floridians are limited to $3,000 every 24 hours.
The Cost to send money: No fees, but doesn’t allow you to use a credit card to send money to friends and family.
Apple Pay—Best for Apple users
Compatible with: iOS.
Payment limits: Up to $3,000 per message and $10,000 in a seven-day period.
The cost to send money: 3 per cent fee for amounts funded by credit card to friends and family.
Samsung Pay—Best for Samsung devices
Compatible with: Select Samsung devices.
Payment limits: None (doesn’t allow person to person transfers).
The cost to send money: None (doesn’t allow person to person transfers).
PayPal—Best for low-fee transactions
Compatible with: Android, iOS.
Payment limits: No limits on money you can send from your verified account. You can send $60,000 but may be limited to $10,000 in a single transaction.
The cost to send money: If paying with a credit card, debit card or PayPal credit you pay 2.9 per cent plus a fixed fee.
Xoom (A PayPal service)—Best for sending money to other countries
Xoom is unique in that it’s the main purpose is to send money to other countries.
Compatible with: Android, iOS.
Payment limits: Up to $25,000 per transaction. Initial limits are $2,999 in 24 hours, $6,000 in 30 days and $9,999 in 180 days. Can increase limits by giving Xoom more personal information.
Cost to send money: Cost varies depending on which country you’re sending money to.
Circle Pay—Best for sending money to other countries
Circle Pay allows you to send money to other countries and in foreign currencies.
Compatible with: Android, iOS.
Payment limits: $400 per seven-day period. Can be raised to $3,000 per seven-day period by providing additional information.
The cost to send money: Circle Pay doesn’t charge fees, but your bank may.
Venmo—Best for sending small amounts of money
Compatible with: Android, iOS.
Payment limits: $299.99 weekly, but can be raised to $2,999.99 weekly.
The cost to send money: $0 if purchasing from authorized merchants, 3 per cent if paid by credit card, $0.25 to transfer Venmo balance out of Venmo.
Square Cash—Best for sending small amounts of money
Compatible with: Android, iOS.
Payment limits: Initial limit of $250 per transaction or seven-day period. A limit can be raised up to $2,500 per seven-day period.
The cost to send money: 3 per cent fee if sending by credit card. The fee is added to the transaction total.
Zelle—Best for credit union members
Zelle is unique because it is part of your bank’s or credit union’s app.
Compatible with: Depends on bank or credit union’s app.
Payment limits: If your bank or credit union doesn’t offer Zelle, your limit is $500 per week. If they do, contact your bank or credit union for limits.
The cost to send money: Zelle doesn’t charge fees, but your bank or credit union may.
Facebook Messenger—Best for no-fee transactions & Facebook lovers
Compatible with: Android, iOS—Users must have a Facebook account.
Payment limits: Not disclosed.
Cost to send money: No fees, but you can only use a debit card or PayPal account to fund transfers.
