Making money is hard, but managing it is even harder. As millennials keep on amassing wealth like never before, many finance apps are appearing on the horizon to seize on the opportunity driven by the present generation’s apathy towards traditional financial institutions.

Irrespective of whether you have made it rich or are able to just get by, it is important to know where your money is going and coming from. There are many ways to keep your finances on track, but to keep it nice and simple, just download a finance app on your smartphone and let it do the hard work.

Here are the best eight money management apps you should consider, even if you are clueless about their existence:

OFX (Global availability)

The biggest advantage of OFX is cost, as it charges no transfer fees and the exchange rates are comparable with the best in the industry. Additionally, if people are not concerned about speed, OFX is tipped as one of the top ten money transfer apps in the industry.

Apart from cheap bank transfers, their customer service is par excellence. You can actually reach out to someone at any hour of the day, or night, thanks to their offices located across multiple time zones. The downside is that OFX transfer takes 2-4 business days and their website usage is not as easy as on mobile.

FairFx Mobile Banking (pre-paid currency card and travel cash)

Good rates and excellent customer service make FairFx a good option, especially for those who need to use a currency card abroad. This UK-based money transfer exchange provider has been doing business since 2007 and is good for customers wanting to do transactions in pound sterling.

The exchange rates of FairFx are competitive if larger transactions are enacted, but for lower amounts, a different currency provider could possibly get you a better deal. However, what makes them popular is that they offer a refund on differences, should anyone else give a better quote.

WorldRemit (for cash pick-ups)

Ranking highly in trust and credibility, WorldRemit is a good money transfer service with a following of nearly four million clients across its large global network of cash pickup locations. The varied options of sending and receiving money and ease of use are some of the positives about WorldRemit.

Despite its overwhelming popularity, what it lags behind is the fees it charges on its exchange rates, which are neither transparent nor cheap. Still, when it comes to cash pick-ups, WorldRemit is a solid international contender.

Xoom Money Transfer (fast money transfers)

Established in 2001 and run by PayPal, the main aim of Xoom is to transfer the client’s money in the fastest time possible, sometimes in a matter of minutes. Xoom can send money to 160 countries, with delivery options such as cash pick-ups and bank deposits @$4.99 or less, irrespective of the amount.

Compared to others in the industry, Xoom’s margin rates are on the middle side and markups over the mid-market rate on par. However, they ask for a lot of personal information if you are transferring large amounts of funds, say up to $50,000.

Orbit Remit App (large transfers)

This New Zealand-based money transfer provider serves customers in the United Kingdom, Australia, and New Zealand and is respected for its user-friendly website, flat fees, and speed. Additionally, residents of New Zealand get more perks in the form of free revenue payments.

The service of OrbitRemit is especially attractive to those who want to transfer anything above $10,000 or equivalent in any currency as there is no transfer fee. What customers dislike about OrbitRemit is the limited number of countries they operate from and only bank transfers are accepted.

Transfergo App (cheap rates)

The fully transparent and excellent money transfer service of TransferGo is known for its consistency in rates on international money transfers, especially to Europe. Moreover, their website is easy to negotiate and the customer service is par excellence.

As a bonus, TransferGo struck a deal with Visa and MasterCard in 2020 to permit their customers in 20 selected European destinations to make international money transfers from any bank account or card, directly to a Mastercard.

MoneyGram App(enormous global access)

MoneyGram is the second-largest money transfer company in the world and enjoys a stellar reputation in its long and chequered service history. Having an enormous network across 200 countries and dealings in 50 currencies, MoneyGram has gathered a lot of praise in the fx industry.

Moreover, MoneyGram has a variety of payment options like cash, bank transfer, credit card among others. What the company lacks in is the clarity on exchange rates charged and those displayed on their website, which makes it more expensive than other providers. The maximum permissible transfer amounts on MoneyGram are also on the lower side.

Payoneer App (global SMEs and self-employed professionals)

SMEs and traders who have to make frequent cross-border transactions find Payoneer appealing as a world-class digital money transfer system. The services they offer include a range of solutions and payment services in a speedy manner from any part of the world.

Though their currency exchange rates are reasonably priced, the currency conversion is mainly meant for business transactions and not pure international payments. This suits SMEs, self-employed professionals, and online retailers for any kind of low-cost international business operation through their Payoneer Account.