Best Money Transfer Apps in India

In this era of digitalization, money transactions have become easy for everyone. Mobile payments are gaining immense popularity nowadays, especially in countries like India, where most of the transactions are done using mobile phones. This is supported by the rise of digitalization and the growing trend of cashless transactions.

Although there are many money transfer apps available in India, we cannot install every app, register with our bank, check the app’s efficiency and then decide which app to use on our smartphone.

That’s why we have made the list of the best money transfer apps along with the pros and cons so that you can download and install the right app.

Now let’s know about the best money transfer apps in India, their pros, and cons and what unique offers or discount you get by using the apps.

Table listing the best money transfer apps:

Google Pay

Google Pay was formerly known as Tez. It is the most trusted app and is widely used by Indians. This money transfer app is owned by Google.

It is one of the top banking mobile apps that offer different ways to make transactions faster, more hassle-free, and more rewarding. You can also buy Free Google Play gift card codes using Google Pay

One can easily pay in stores or to merchants via this app. Google Pay stores the debit and credit card details of the customers for fast transactions.

You can also use Google Pay to receive money from friends. It uses the phone’s system lock and fingerprint sensor for payment which makes it more secure than other apps.

PhonePe

One can use UPI, credit card, debit card, or wallet to pay all their utility bills and can also make instant payments both in offline and online stores.

This money transfer app allows its customer to instantly link their bank accounts with the app and transfer money via UPI.

From UPI payments to mobile/DTH recharges, and money transfers to making online bill payments, you can do all this and more using the PhonePe app. Also, users can do money transactions (up to INR 1 lakh per transaction) – anytime and anywhere.

Paytm

PayTM is one of the largest mobile commerce platforms in India, which provides a digital wallet to its customers to store money and make instant payments.

Paytm was the first money transfer app that allowed its users can transfer money from wallet to wallet. Now you can also choose to use the UPI option with the bank.

You can also apply for Paytm Postpaid where you can use the option to buy now & pay later with a credit limit of up to ₹60,000/. Like PhonePe in Paytm too, you can purchase digital gold, take personal loans, and manage GASTag

The company has also introduced Paytm Payments Bank which allows users to open a savings account with Paytm.

AmazonPay

Amazon Pay also has a wallet option like Paytm, where you can add AmazonPay wallet money, keep a buffer amount in the wallet to purchase items online, make payments, and make recharges.

You can add money to your Amazon Pay wallet by using our free Amazon Pay gift cards. This wallet money comes to use in an emergency when the UPI payment fails.

You can also use your AmazonPay wallet to receive cashback. Amazon Pay also regularly provides many good cashback offers and discounts.

You can also earn money by playing quizzes, using the spin wheel to earn methods and many more. And yes one more thing, you can also send Amazon gift cards to your loved ones and friends as a gift

BHIM App

BHIM app is a government-run money transfer app that can be used by Android and iPhone users. Being one of the most popular options for transacting digitally, the app is UPI-based for easy money transfers.

The app requires you to register first; You need to verify your phone number, choose a passcode for secure access to the app, select the bank you want to link with the BHIM app and you are good to go.

Mobikwik

Mobikwik is a free digital wallet app for money transfers in India. It is available to use in both online and offline places. This money transfer app is operational on both Android and iOS.

Some of the features provided by the app are – easy and fast transactions, EMI payments, instant personal loans, and bill payments.

It is a secure app. In addition to money transfers, this app can also be used to book rail/bus tickets and pay gas/electricity/DTH bills online. Apart from this, the app also provides the best cashback, coupons, and discounts.

Freecharge

It is mainly used for paying electricity bills, DTH, water bills, gas bills, metro recharges, investing in mutual funds and making donations online.

Now it also offers hassle-free chat-and-pay service once you create a BHIM UPI ID and link your bank account to it.

Jiomoney

It is a safe and secure digital payment and money transfer app. This app can be used for fast money transfers and bill payments. It marks the frequently visited merchants and repeated transactions.

This provides a wallet service too. Earlier there were different apps for different services by Jio but now all types of services including Jio TV, and Jio Money have been included in one app and that is My Jio app.

It also provides great offers like you can get free jio internet data, discounts, and coupon codes from various merchant stores.

Whatsapp Payment

WhatsApp Pay is a point-to-point and in-chat payment app that allows users to transfer money. You can use the money for mobile recharges, DTH recharges, utility bills, movie tickets, etc.

It is directly linked to a customer’s bank account, debit card, or credit card through which they can transact with friends and family.

Airtel Thanks – Recharge & UPI

Airtel Thanks is the money transfer app by Airtel. Mostly, Airtel users keep this app installed on their phones to get many benefits like Airtel Free data. However, non-Airtel users can also use the app if they want to use the Paytm Payment bank wallet.

Like other Payment apps, this app also allows you to transfer money, pay bills, and recharge your mobile phones. It also offers banking services such as savings accounts and debit cards.

BharatPe

It is a payment widely used by shop owners/shopkeepers/retailers/ service providers. For merchants, it also allows and accepts money transfers from any other app.

It provides a single QR code for taking money from every other money transfer app. It also offers loans, financial services, investments, and insurance.

PayPal

PayPal is one of the oldest and most popular international money transfer apps. One can create a free PayPal account and link any bank’s debit card to PayPal. It is a free money transfer app.

The app provides features like – secure encrypted technology, tracking and 24/7 monitoring of every transaction, easy to use, and user friendly.

Conclusion

Although there are various money transfer apps in India. People prefer apps according to their requirements. Most of the apps provide rewards, gift coupons, discount coupons, and specific merchant offers. Moreover, customers choose payment apps based on privacy issues as all the apps are linked to their bank accounts.