When we are in the world of smartphones, everything seems like a cakewalk. Everything is available at your fingertips, so is money transfer. Gone are the days when you had to go to the bank to transfer money to your loved ones, clients, etc. In the information age, you can do it with a few clicks.
Today, we cannot delay payment and receipt in the fast-paced world. So, the IT era has made it possible to make money transfers easily. This article will talk about the best money transfer apps that accept American Express.
The mobile apps that we will talk about can easily run on your smartphone or tablet and allow you to receive and send money from/to your clients/vendors. There are the following features of a mobile payment app:
- When you give service to your clients, you can generate bills for your clients. This way, they can pay on the bill generated by you.
- Suppose you have a tea shop or a small roadside restaurant, you have a long queue of customers who want to pay as quickly as possible. In this situation, you or any of your employees can walk up to the customer and receive the payment using a mobile payment app without making them wait.
- Suppose you have customers away from your location. You can send your products to them and receive payment through a mobile payment app without having to wait for cash or any check.
That's the magic of mobile payment apps.
I am sure that the first mobile payment app was not as sophisticated as today. They have gone through an evolution and still go on. Let's look at the chart where we find toppers of mobile payment apps.
How to Open a Money Transfer App Account?
You can download and install any money transfer app and fill in your details. While filling in the details, you need to include your phone number, email address, bank details, along with bank card details. The mobile number must be a working one as OPT's will be sent for many authentication purposes.
A bank account is an important piece of information because you can do any transaction only when you have a bank account with sufficient balance in it,
Many mobile apps offer a debit card to do transactions from it apart from the app.
How do money transfer apps work?
I assume that you have installed the money transfer app on your smartphone. You can now start using it to carry out any transaction from your mobile, provided you have a sufficient balance in the bank account.
Let's see how you can add funds to your app:What are the Uses of Mobile Money Apps?
There are many tasks that you can perform on the mobile money app. Let's see the list.
- Send Payment- You can send money to anyone with the phone number or email registered in any mobile money app. Like, American Express offers a prepaid debit card that has apps so that you can send money to anyone. Like, Cash App gives a $Cashtag username to its users for the transaction.
- Buy Goods/Services- You can buy goods or services using mobile money apps like PayPal, Venmo, etc. Payments can be sent to businesses using the username given by these money apps.
- Withdraw Funds- When the money is received, it stays in the app. You can transfer that money from the app to your bank account and withdraw it whenever you need it.
- Trade- You can trade in stocks and cryptocurrencies using the money in the app.
- Save Money- You can also save some money for the future. Some apps allow this feature too.
How to Add Money to Mobile Money Apps?
There are many ways by which one can add money to the app:
- Using a bank account, debit, prepaid, or credit card.
- Receive from others.
- Check deposit
- Direct deposit
What are the Best Mobile Money Apps that Accept American Express?
1. PayPal
PayPal is a versatile mobile money app that works with various card providers and American Express. PayPal can be used via an app or through the web. This is accepted in 200+ countries. You can sign up with PayPal with your phone number, email address, bank details, and an identity account.
2. Venmo
It is a part of PayPal. This app also supports American Express cards. Although it can be used in the US only and does not support international transactions, this is an amazing app for domestic use. You will need a phone number, email address, bank account, or a debit card is required for registration.
3. Skrill
Skrill is a similar app where you scan your card details and make transactions smoothly. Hence, you can also add an American Express card (debit and credit). You can buy and sell Cryptocurrencies also.
4. Payoneer
It works in a similar pattern as other mobile money apps do. You would be required to add a bank card to your Payoneer account, and that's it. Registering in-app requires your mobile number, email address, bank card, etc.
5. Cash App
Cash App supports money transactions from many service providers. You can use American Express, Mastercard, VISA, and Discover. This service can be used on the web or via the app.
Cards offered by American Express:
American Express offers various cards that you can use to make payments and receipts. American Express issues prepaid cards named Serve.
- American Express Serve
- American Express Serve Free Reloads
- American Express Serve Cash Back
All these cards can be reloaded as and when needed. There is no annual fee and needs no credit. However, there is a charge for converting the money to US dollars, 2.7%.
Final Verdict
Many mobile money transfer apps are available in the market. Not all, but most of them support American Express. So, use them and run business smoothly. This has made our lives easier and faster. If you have any queries, you can comment below, we will reach out to you as soon as possible.
