Best Apps To Transfer Money For Seniors

Not too long ago, ATMs were a brand new, and for many people, a strange new thing. Most seniors probably remember the time when these new “gadgets” started popping up at all the banks and then in shopping areas. Now seniors are getting used to the idea of using their phones and computers to send money online.

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Online financial transactions used to be basically limited to online banking and purchasing items from a website. Now there are numerous apps available for both computers and smart phones that allow users to transfer money, pay bills and other uses. A main reason that these apps became so popular and wide spread, at least for seniors, was the ability to send money without having to disclose their bank account info or credit card number. One of the original and still largest of these apps is PayPal, which most seniors are familiar with and trust. However, there are other similar types of apps available, which will be discussed below.

While these apps are basically similar, they are not the same. Some of them are broad-based and general in nature, other are more specialized. Some charge fees that can add up, others are inexpensive or even free. Instant transfer is possible with some, a few day wait is required with others. Finally, you can send money internationally with some of them, but not with others. Therefore, you may need to use more than one of these apps at different times, depending on the situation. The most trusted and senior friendly of these money transfer apps are listed below.



As mentioned above, this is the major brand in money transfer apps and most trusted, and therefore used, by seniors. PayPal actually lets you keep a balance in your account (sort of like a bank) in addition to its money transfer functions. A main feature is that you can buy things online while keeping your details private from the seller, which provides the kind of security that seniors want. Also, this purchase function is fee free.

However, their money transfer function to individuals can incur sometimes larger fees than other apps (especially if the money is going to another country) and also be delayed by a few days. But most people, of all ages, still depend on PayPal for its security, dependability and ease of use.

Online Banking Apps

Almost all bank accounts today come with ability to conduct online banking. All you need to do is sign up for this service with your bank and you will be able to access it from your computer or smart phone. While most people use this to check their balances or deposits and withdrawals, these online banking apps usually also have a feature to transfer money.

This type of app is advantageous for transferring money to another bank account (bank to bank transfer) or for paying bills online. Many banks have a very low or no fee structure for seniors, especially if you are receiving direct deposit Social Security payments. In addition, getting useful customer service in a timely manner is usually best with a bank versus other types of apps.


This is a money wire service that can send money directly to other persons or their bank accounts, both within the US and also to most other countries. They are a large company and have proven to be reliable and secure. You can arrange the money transfer on their online app and fund it with a direct withdrawal from your bank account, credit card or debit card. If you wish, you can also fund it with cash by going to one of their local agents.

They also offer both instant service transfers or that take a few days to complete. Of course, the delayed transfer requires a lower fee, but even their instant service is more affordable than their competition. In addition, they keep both you and your recipient fully informed about the transfer in a timely and clear manner.

Cash App

This money transfer app with the generic name is owned by a large online company. They are somewhat the same as PayPal (although newer and smaller), but they stand out because you can usually send a transfer with no fees. Also, they allow to you to keep a monetary balance in your account if you wish. You can add funds to Cash App via credit card, debit card or from your bank account.

Another special feature of Cash App is that you can set up an account with them anonymously – without having to give your personal details. But this will limit your ability to transfer money to $250 in any 7-day period and up to $1,000 instantly within any 30-day period. Their service – and thus your money -is secured by the use of up-to-date security encryption and fraud detection technology.

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