Money Transfer Features that Define Digital Banking Excellence

A foundational money transfer feature built for everyday life. P2P enables instant, frictionless payments between individuals—no cash, no delays, and no unnecessary steps. Its ability to deliver real-time access, simplicity, and convenience makes it a clear must-have for modern banking apps, with a disproportionately large impact on daily user engagement and satisfaction.

A critical feature for reducing friction in everyday payments. Allowing users to schedule, edit, or cancel future and recurring transfers gives them flexibility and control when plans change. While many banks still limit these capabilities, those that enable them help users save time, avoid mistakes, and manage their money with greater confidence—raising the standard for modern money transfer experiences.

A simple yet powerful feature that removes friction from one of the most error-prone steps in money transfers. By replacing manual IBAN entry with quick QR scanning, banks can eliminate mistakes, save users time, and create a smoother payment experience. Still offered by only a small share of institutions, this capability highlights how small usability improvements can deliver safer, more effortless transfers.

A fast, effective safeguard that has become a core standard for secure money transfers. By verifying the recipient’s name before a payment is sent, this feature helps prevent errors and reduce fraud at a critical moment. Now mandatory across the EU and long established in the UK, cross-checking recipients gives users greater confidence and control—setting a clear benchmark for safer digital payments.

A highly distinctive feature offered by just two banks across our entire dataset. Street Mode dynamically adjusts limits based on location—allowing higher thresholds in trusted environments like home, and automatically tightening security when users are on the move. This location-aware approach shows how thoughtful design can deliver stronger protection without adding friction, offering clear inspiration for the next generation of safer money transfers.