Audience
Individuals or small to mid-sized businesses looking for a simple payment transfer solution
About Venmo
Pay friends and family with a Venmo account using money you have in Venmo, or link your bank account or debit card quickly.
Send money and make purchases at approved merchants.
Remember the moments you share with friends. Split dinner, send a birthday gift, or just say hello. Move money from Venmo to your bank account.
We use encryption to help protect your account information and monitor your account activity to help identify unauthorized transactions. Pay family and friends with Venmo accounts using a phone number or email. If they don't have a Venmo account, they'll just need to create one. Find friends automatically by syncing your Facebook or phone contacts. When you send money using your Venmo balance, bank account, debit card or prepaid card, we waive fees so it’s free. Our standard 3% fee applies to credit cards. Receiving money and making purchases in other apps is always free.
Pricing
Company Information
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What is Venmo Crypto?Product Details
Venmo Frequently Asked Questions
Venmo Product Features
Mobile Payment
Payment Processing
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Probability You Would Recommend?1 2 3 4 5 6 7 8 9 10
"Great for Users" Posted 2022-12-20
Pros: It makes splitting the cost of items seamless, removes the need to carry cash, and helps small businesses sell their products without the hefty fees of competitors.
Cons: If you accidentally select the wrong recipient, there is no way to revoke your payment. I understand the need for this to prevent scams, but their search feature for people does make it easy to accidentally select the wrong person.
Overall: I use Venmo almost daily. It is easy to use, the money transfer is quick, and it works well for what I need.
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Probability You Would Recommend?1 2 3 4 5 6 7 8 9 10
"No Cash Needed Anymore " Posted 2022-08-07
Pros: You don't have to carry cash around anymore to pay people. Venmo makes it easy things like restaurant checks with friends.
Cons: Venmo is now charging businesses a fee if money is sent to them from clients. There is also a limit of how much money you can send each month.
Overall: Overall, I think everyone should download Venmo as it makes transferring money very easy to friends, family and even strangers.
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Probability You Would Recommend?1 2 3 4 5 6 7 8 9 10
"Everyone Needs this Financial App" Posted 2022-02-08
Pros: Venmo is the easiest way to borrow and share money with friends and family. I am able to make transactions easily and freely knowing that my money is secure.
Cons: The charges for moving money to the bank instantly can be inconvenient, but I understand.
Overall: Overall, I have found Venmo to be a necessity in my life. It makes it practical to not have to worry about constantly having my wallet on me all the time.
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Probability You Would Recommend?1 2 3 4 5 6 7 8 9 10
"Great Product That Does Too Much" Posted 2021-09-21
Pros: It's easy to manage trips and activities with friends. One person can book seats together or get the check at a restaurant and then split up the bill later. We use Venmo to manage dozens of different expenses that come up whenever I take a trip with a group.
Cons: There's no reason for a money transfer app to have many different social features. It seems obtrusive and unnecessary to have a wall to see how friends are sending money back and forth. The ease of use to move money back and forth is enough, it doesn't need to be Facebook.
Overall: I will continue to have Venmo be a vital part of my social experiences because it takes the hassle and awkwardness out of dealing with splitting money between friends. But if they continue to try and push social media aspects of their platform, I might consider a change.
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Probability You Would Recommend?1 2 3 4 5 6 7 8 9 10
"Easy payment processing for Business" Edited 2021-09-18
Pros: Easy way to send money back and forth. The new business version makes it very easy to integrate with customers.
Cons: The notation system being viewable so easily can be awkward. It's an odd attempt at financial social media.
Overall: Good user interface and easy functionality makes it a very easy way to exchange money with friends, and now the business version makes it a good point of sale for business on the go.
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Probability You Would Recommend?1 2 3 4 5 6 7 8 9 10
"Basic Functions done right" Posted 2021-08-10
Pros: Essentially, another version of PayPal. Allows me to carry funds, share bills, and make/receive payments without handling cash or taking out a checkbook.
Cons: Heavy push to connect to my contacts list. Since PayPal is more established, I would like to see some attempt at connecting to PayPal as we), though I suspect that is less Venmo's fault than it is PayPal's.
Overall: Overall, a new alternative to an established useful tool is a good thing. I am interested in seeing how this service develops in the coming years and what it does to the competition.
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Probability You Would Recommend?1 2 3 4 5 6 7 8 9 10
"Extremely convenient" Posted 2021-06-27
Pros: It makes person to person payments extremely easy, and their business accounts make it easy for small businesses to get up and running with limited resources.
Cons: If you mistakenly send money to the wrong person, then you don’t have a recourse to get it back. You have to really make sure you confirm the recipient.
Overall: Overall, I’m a huge fan of Venmo. The software is extremely easy to use, and convenient. I would highly recommend to everyone.
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Probability You Would Recommend?1 2 3 4 5 6 7 8 9 10
"Pretty easy and fun way to send money to friends" Posted 2020-07-16
Pros: The social aspect of it and how it connects to your Facebook profile makes it really easy to use, and to keep a record of fun times out with your buddies. Connects to bank accounts via Plaid if I remember correctly so it's easy and painfree.
Cons: By default all your spending is visible to the public, I think this should be an opt in and not opt out situation. At least changing the setting is easy enough.
Sometimes payment requests / notifications don't show up and I don't notice til I actually go and open up the app for some other reason, and that's rather annoying.
There have been security concerns discussed online but I'm not sure how substantiated they are. I know it was once possible to track people's location from the public transaction log.Overall: Pretty happy with Venmo, just make sure you double check who you're sending money to because the profiles and names don't have to be real, and there's no way to reverse a transaction. Be careful of scams too.
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Probability You Would Recommend?1 2 3 4 5 6 7 8 9 10
"Good Resource" Posted 2020-05-26
Pros: I like that anyone can get Venmo regardless of your bank, which makes it a great, easily accessible money app.
Cons: I don't like how "social" it is. It makes it feel like your bank information is unsafe.
Overall: Easy to use, accessible and makes sending and receiving money very simple and quick when you don't have cash or the same bank as someone.
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Probability You Would Recommend?1 2 3 4 5 6 7 8 9 10
"Venmo is a Must" Posted 2020-05-26
Pros: Venmo makes it as easy as a click just about to send money. They also send you a debit card that can be used at retailers all over.
Cons: Venmo used to have a security issue involving iPhones. Luckily they learned of it and fixed the problem so they are on top of security issues.
Overall: Venmo is a must in todays contactless payments thanks to covid 19. They want us all to stay healthy.
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Probability You Would Recommend?1 2 3 4 5 6 7 8 9 10
"Venmo makes life easier " Posted 2020-05-23
Pros: Venmo is a very easy to use application and receive money fairly quickly. It is easy to find friends and find other people quickly using their phone number. They recently started using a two step authentication so you don’t accidentally send money to the wrong person.
Cons: Some people like the part of Venmo where you can see your friends recent transactions, however I do not, however you can become private. It can take some days (up to 3 business day) for money to transfer if you don’t pay for the additional transfer fee.
Overall: Venmo is incredibly easy to use and is a safe, trusted app to send and receive money. There are many apps that do this however Venmo seems to be the most trusted.
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Probability You Would Recommend?1 2 3 4 5 6 7 8 9 10
"AMAZING!" Posted 2020-05-08
Pros: Super easy to use and very simple way to split split bills with people and send money to those you owe at a push of a button.
Cons: There isn't anything that I dislike about it at all.
Overall: Overall it's great and I use it for myself as well as for my business. Super awesome and very easy to use!
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