Venmo

Venmo is basically a miraculous app that has become so popular; Venmo is also casually treated as verb. You can easily send and receive money to and from your friends and family without any hassle.

Cost
No charge for sending money from a linked bank account, debit card or your Venmo account; a 3% fee for sending money using a linked credit card.

Transfer speed
Instant transfer to Venmo balance; 1 to 3 busines days for direct deposit (free) or instant transfer to your bank account for 1% fee ($10 max).

Standout features
Links to popular apps; social features to interact with your friends’ payments (including stickers and emojis); Venmo debit and credit cards.

Links to accounts
Yes, bank and credit cards.

Availability
Only available in the U.S. and only compatible with U.S.-based bank accounts and phone numbers; compatible with iOS & Android.

Security features
Multi-factor authentication when signing in; QR code readers to make sure you link to the correct user account before you send money.

Pros

Widely used and therefore easy when splitting bills with friends
Can link as payment method to popular apps including Uber, Uber Eats and Seamless
Can use to pay at participating online merchants
Users who opt-in can use a free Venmo debit card
Can link to the Venmo Credit Card to earn rewards on most popular spending categories at authorized merchants (subject to 3% credit card fee for person-to-person payments)

Cons

Charges a 3% processing fee when using linked credit card as a payment method
Charges a 1% fee for instant cash-outs (to disperse funds immediately to your bank account with no waiting period)
Not all users can currently link two separate Venmo user accounts to a joint bank account (Venmo is slowly rolling out this feature)

Website: https://venmo.com/