Whether you need to transfer the rent to your roomie, pitch some bread for beer or put your money where your mouth is and reimburse your friends after going out to dinner, there are an array of apps to make paybacks less tedious. Check out our top picks so you never have to stress about chasing down your friends for splitting a tab or cab again.
Everyone has that one friend who always owes money but disappears when asked to fork it over. If a stingy someone holds out, Venmo is the ideal app to hold the offender accountable. The app is absurdly user-friendly and allows users to send payment requests by inputting the person’s name and the amount of money owed, sending an instant alert in-app or via text. Users may link a bank account, debit or credit card and it’s as safe as it is seamless; the app uses data encryption to ward off would-be hackers. When you transfer or receive money, it requires you to add a description of the interaction, so you can choose to say “rent”, “dinner” or something more cryptic. Our personal favorite is the flying money emoji. It also connects with your Facebook friends and contacts so you can see what the rest of your pals are paying for.
The Square Cash app invites users to create their own “$Cashtags,” or personalized, shareable URLs that streamline direct payment. Square Cash is also often regarded as one of the most user-friendly peer-to-peer payment apps.; Users simply type in an amount, specify whether they are making or requesting payment and type in the recipient’s contact name, phone number, $Cashtag or email. The best part? A recipient isn’t required to have a Square Cash account and can receive the payment instantly.
If you already use Gmail, Google Wallet is a quick and easy way to send and receive cash. When composing an email, simply click on the “$” icon on the toolbar, link a debit card, and send cash with one click. The Google Wallet app allows users to send cash by simply typing in the recipient’s phone number or email and the amount owed. The app uses top-notch security technology and never shows banking information. Users are also required to create PINs that grant access to Wallet accounts, so the whole process is not only user-friendly, but highly secure.
We all know time is money, so transferring funds over an already common, credible and user-friendly app such as Facebook Messenger might just become the preferred way to send and receive money among friends. Just tap the dollar sign icon in a private message with another Facebook user, enter the amount owed and click “pay.” Once you’ve stored a card, Facebook requires the addition of a PIN but other than that, seems to have a thin layer of security. Though this may be one of the simpler options, it may not necessarily be the safest.
Snapchat is no longer just for superfluous selfies, gratuitous videos of pets and blurry bar photos; it is also the latest and greatest way to get paid. When users link a debit card and type a dollar sign in a private text chat with another user, the app recognizes money is being exchanged and will automatically transform the blue “send” button into a green “Snapcash” button. Square Cash is responsible for the Snapcash feature and the money is refunded if the payment isn’t accepted in 24 hours, so users don’t have to worry about their cash vanishing along with yesterday’s Snapchat stories.