The most budget-friendly ways to send money anonymously

Best anonymous money transfer apps

An anonymous money transfer app must have a reliable infrastructure that guarantees the privacy of all its participants. Only under these conditions can it serve its purpose. This is not easy to achieve, and that is why not all anonymous money transfer apps are equally convenient and safe.

We have selected several of the most reliable and convenient apps for transferring money anonymously, which are also budget-friendly.

Wise

Wise money transfers are relatively anonymous or semi-anonymous. In most cases, users are given the option to transfer money without revealing their bank account number. However, if the recipient also uses the Wise app, they will still see your profile picture (photo) and the name you have provided (nickname). Of course, there is an easy way around this. Do not use your photo as your profile picture and use a nickname rather than your real name.

Wise uses passwords to transfer money, end-to-end encryption, and two-factor authentication to log in. Since Wise is regulated by the FCA (UK) and many other regulators around the world, the company follows the guidelines set by these regulators to protect the rights of its users. Wise uses 3DS for card transfers and payments.

Wise is one of the platforms that provide legitimate and secure money transfers with the most favorable conditions and low fees for users. Commission size – from 0.41% of the transfer amount.

Revolut

Revolut is an anonymous money transfer app that offers the ability to send money using virtual cards. An important feature of this app is that it has a feature that allows you to hide your RevTag (username) so that no one can find you in the app. In addition, there is an option to hide your username by disabling the “Payments with friends” option. When this feature is enabled, people you have transferred funds to can see your details. If you want to hide them from other people so that they cannot track you and your details, you need to disable this option. Since knowing your username, you and your details can be tracked in the app.

Revolut is considered to have one of the lowest fees for users compared to other apps that provide anonymous money transfer services. They are 1.99% for a crypto transaction or the currency equivalent of 0.99 GBP.

Skrill

Skrill allows you to send money anonymously online using a temporary email address. This is what allows the sender of the funds to remain anonymous. Since the user carries out all transactions using a temporary, undetectable email address that can be deleted immediately after use, no valid data about the sender of the funds is stored. Another option is to send money using a crowdsourcing website through Skrill since anonymous payments can also be made through the crowdsourcing platform.

Skrill charges a fee of up to 3.99% for withdrawals from Visa and MasterCard cards and 5.50 euros for bank transfers. No matter how much you withdraw or transfer, the fee will be noticeable. 

We recommend using Rates.fm to better manage your finances, as the service provides useful content on cryptocurrency, investments, currency finance rates, and products of American and European banks, including Chase Bank and Barclays.

Cash App

Cash App is a widely-used payment service that enables anonymous money transfers via smartphone. Users are assigned unique usernames, called $Cashtags, allowing them to send money without sharing bank account details. Without verification, the daily transfer limit is capped at $250. 

To make a request for a transfer of funds, you need to provide the email address or phone number of the person you want to send money to. Then, both parties must confirm their bank details for transferring/receiving funds and after receiving the transfer request.

When using a linked credit card to send money, Cash App charges a 3% fee on the amount of the transaction. Compared to other anonymous money transfer apps, this fee is standard.

Square

Square Cash provides the same anonymous money transfer features as CashApp, allowing users to send and receive funds using $Cashtags. A $Cashtag acts as a unique nickname, enabling anonymous payments and receipts. While using a $Cashtag isn’t required for anonymous transfers, it’s the simplest method for those not regularly using the service. Additionally, according to Square’s terms of service, creating a temporary email for sending anonymous payments isn’t necessary, though it can make the process easier.

Square offers several types of plans: “Free”, “Plus” and “Premium”. It is worth noting that each of them has different transaction costs, transfer fees, etc. So the cost of transferring funds will depend solely on your tariff plan. The free plan has a 0% fee.

Conclusion

Any electronic transfer of funds always leaves a digital trace that can be seen. But you can still transfer funds virtually without a trace using the services Square, Revolut, Wise, Skrill, and CashApp. You can also consider cryptocurrencies for anonymous payments. To learn more about modern payment systems, banking products, currency finance rates, and effectively manage funds, use Rates.fm, a service that is available to users from all over the world – from the USA to Spain.