If you are wondering how to quickly send money to your friends and family for free, check out these 5 fee-free services that allow you to instantly send money online to anyone you know for fast and free digital payments.
About Instant Money Sending Services
These fast online payment services are perfect when you need to send money to your kid at college, pay off a debt to your family, split a restaurant bill, or give a friend money for concert tickets.
All of these options for sending money quickly are absolutely fee-free to use, so you won’t lose any money in the transaction process, and the payments go through immediately, so your recipient won’t have to wait several days to get their money.
When cash isn’t convenient and sending a check takes forever, these 5 digital payment services can help you send money to your friends and family in seconds.
1. Square Cash App
Square Cash makes it easy to send money to anyone with a registered phone number or email address, and all you have to do is link a debit card from your bank account to get started.
There are no fees to download or use the app to exchange money, and the transfers go through instantly, so your friends and family won’t have to wait for their funds.
Read our Square Cash App Review for more details.
2. Circle Pay
Circle Pay lets you send money anywhere in the world for free by simply connecting your debit card, and your funds balance can be held and transferred in U.S. Dollars or Bitcoin, so it’s a great option for people who like to trade in digital currencies.
There are no fees to download or use Circle Pay from their app or website, and your recipients receive their funds immediately after you send them money.
Read our Circle Pay Review for more details.
PayPal waives the fees on money transfers between friends and family when the transaction is fully funded by your PayPal balance or a bank account linked to your PayPal account.
If you want to fund your money transfer with a credit card, debit card or PayPal Credit, either partially or in full, you’ll be charged 2.9% of the transaction amount plus a fixed fee based on the currency of the transaction ($0.30 for USD), and the sender pays the fees.
The great thing about PayPal is it’s accepted as a payment method with many retailers and service providers, so if your recipient needs money for a specific purchase, they may be able to pay for it directly from their PayPal account.
Read about the PayPal Referral Program to earn $5 rewards.
Venmo is a free digital wallet that lets you make and share payments with friends, so that you can easily split a bill, cab fare, or anything else that requires you to share payments.
When you send money using your Venmo balance, bank account, debit card or prepaid card, the fees are waived, so it’s free to use, but if you want the option to send money using a credit card, their standard 3% fee applies.
You can also use your Venmo account as a way to pay in many different mobile apps, which gives the recipient various options to immediately use their funds.
5. Chase QuickPay with Zelle
If either you or your recipient has a Chase checking account, Chase QuickPay with Zelle is a free way to send or receive money via a direct bank account transfer, and it can be used by anyone with an email address or mobile phone number (only 1 person needs to have a Chase checking account).
If you don’t already have a Chase checking account, you can get a Chase Total Checking Account Bonus with a qualifying direct deposit.
Both customers must have U.S. bank accounts to use Chase QuickPay with Zelle, and it’s completely free to use, so it’s a good way to securely send money between friends and family (non-Chase customers can also send and receive money directly through the Zelle app when it is available).
If your recipient is another Chase customer, your recipient’s bank is a Zelle member and supports real-time payments, or your recipient is using the Zelle app to receive payments, the money will usually be available a few minutes after you send it, but otherwise the money should be available in 1 to 2 business days, depending on the other bank’s processing time.
Read our Chase QuickPay Review for more details.
If you need to instantly send money to your friends and family for any reason, take advantage of these free ways to immediately send money online to anyone you know.