Venmo

4.7 (8,874)
Digital wallet & mobile payment gateway

Overall rating

4.7 /5
(8,874)
Value for Money
4.8/5
Features
4.6/5
Ease of Use
4.8/5
Customer Support
4.4/5

96%
recommended this app
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8875 Reviews

Richard
Overall rating
  • Industry: Entertainment
  • Company size: Self Employed
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Ease of Use
  • Likelihood to recommend 10.0 /10

Venmo best alternative to Paypal

Reviewed on 7/10/2022

Pros

Venmo works great with paypal and other apps. It's easy to send and receive payments to and from anyone. It has great features and I love how easy it is to use.

Cons

Need rewards or some incentive for venmo customers that have been loyal.

Desiree
Overall rating
  • Industry: Individual & Family Services
  • Company size: Self Employed
  • Used Daily for 1+ year
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Venmo for the win!

Reviewed on 21/10/2022

Highly highly recommend

Pros

I use this app every single day. Every day after work, I Venmo request my customers. I love the reminder notification. Sometimes people forget to pay and the reminder is a gentle and non confrontational way to ask for payments again. I love the transfer to my bank account. It's free if you wait a couple days or instant transfer with a small fee. I also have a free Venmo card that's attached to my account. All black, very nice looking and was free with my account. I'll get email offers for discounts if I pay with Venmo at certain places. I also have gotten a referral bonus a couple times which is nice. App is super easy to use, nothing complicated. I prefer Venmo over Cash app and other competitors.

Cons

Sometimes my balance doesn't update right away. Even if I just opened the app, it'll have my old balance still on. It's an easy fix, I just have to refresh the page. It's not a major con at all, just something small.

Robin
Overall rating
  • Industry: Information Technology & Services
  • Company size: Self Employed
  • Used Monthly for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 0.0 /10

Venmo Denies Fraud Claims

Reviewed on 11/11/2022

Horrible. Venmo will not support you if you have fraudulent claims.

Pros

Ease of transferring money between 2 parties

Cons

Venmo denied fraudulent charge. There were 2 charges within a few seconds of each other. $5 and $84. Venmo reversed the $5 charge but not the $84 charge. They denied this fraudulent charge.I contacted them when the charges were still pending with Venmo. Instead of stopping the charges from going through Venmo debited my bank account to cover the charges. Venmo will not tell me why, nor will they answer my emails asking why the claim was denied.

Crystal
Overall rating
  • Industry: Food & Beverages
  • Company size: 2-10 Employees
  • Used Weekly for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 8.0 /10

Easiest way to send money!

Reviewed on 8/8/2022

Overall I have had a great experience with Venmo. This was one of the only apps who accepted and linked to my prepaid bank card. Most softwares would require you to have a bank account to send and receive money. Venmo is super easy and accessible. They have saved me so many times where I had an emergency and needed to have my mom send me $ ASAP. I still use this app weekly to this day!

Pros

I use this app to pay my rent and to send money to friends and family. There is a really cool feature that allows me to decide if I need my money right now for a small fee or in 3-5 business days for no fee. I have never came across an issue to where the instant transfer did not go through. I can't tell you how important it is to get your money ASAP when you have an emergency and Venmo always came through for me! It's so easy to manage I was able to teach my mom over the phone how to manage the software.

Cons

Recently the fee's for this app have gone up. I don't like that they are basing it off how much you are sending/receiving. It should be the same fee overall. Increasing the fee just makes me want to use the free money transfer apps such as Zelle. Also instead of rewarding users for sending money and using the app, they have a limit. For example if I send $ more than 5 times a week they start adding an additional fee.

Brandi
Overall rating
  • Industry: E-Learning
  • Company size: 51-200 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 9.0 /10

Venmo is a lot better than others I have used

Reviewed on 20/10/2022

Pros

I love the customer service of this product, they are fast efficient and get the job done!

Cons

There is nothing I don’t particularly like about this software

Malary
Overall rating
  • Industry: Consumer Services
  • Company size: Self Employed
  • Used Weekly for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 9.0 /10

Great for backup option to processing payments

Reviewed on 11/10/2022

Venmo is a great resource to process payments. Many people have the app already and it’s very convenient when other payment softwares are down. You get paid pretty quick and it’s very user friendly.

Pros

I like that the app is user friendly, anyone can use it and navigate it easily. It’s a great backup option I have to processing payments and many clients are familiar with it already.

Cons

I just don’t like the feature that shows other people’s transactions. They do have a private option which I use but I still don’t like seeing other people’s Venmo activity.

Liora
Overall rating
  • Industry: Retail
  • Company size: Self Employed
  • Used Weekly for 1-5 months
  • Review Source

Overall rating

  • Ease of Use
  • Likelihood to recommend 8.0 /10

A refreshing change from PayPal, cash and checks

Reviewed on 4/10/2022

I use Venmo to receive payments for my side hustle, which includes selling rehabbed furniture, doing odd jobs and taking on writing assignments.

Pros

Venmo is seamless and allows me to send and accept payments on the go. As a freelancer, it’s fantastic because I can get paid for my services right away and have the money be available for transfer to my bank account in seconds. I don’t have to deposit checks or cash anymore and Venmo makes it easy to invoice and keep track of payments.

Cons

There was a bit of a learning curve, especially on the mobile app and connecting my bank account to the app wasn’t as straightforward as I wanted it to be. Also, changes to the tax code will make money gotten through the app taxable, unlike when clients pay in cash.

Ashley
Overall rating
  • Industry: Consumer Services
  • Company size: 5,001-10,000 Employees
  • Used Weekly for 1+ year
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Venmo is the bestv

Reviewed on 6/10/2022

Pros

The ease in which I can transfer money to someone instantly

Cons

Nothing it’s good as is at the moment, no complaints

Alternatives Considered

PayPal and Cash App

Reasons for Switching to Venmo

Venmo has instant transfer which I find incredibly beneficial
Sheronda
Overall rating
  • Industry: Computer Hardware
  • Company size: 5,001-10,000 Employees
  • Used Monthly for 1+ year
  • Review Source

Overall rating

  • Ease of Use
  • Likelihood to recommend 10.0 /10

Great for payment processing!

Reviewed on 12/10/2022

Pros

What I like most about Venmo is the ease of sending and receiving payments for my alumni events. I love that various forms of payments can be used easily.

Cons

So far there is nothing that I least like about Venmo. I have yet to experience any issues when utilizing Venmo.

Chak
Overall rating
  • Industry: Market Research
  • Company size: 2-10 Employees
  • Used Daily for 6-12 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 6.0 /10

Venmo for Business

Reviewed on 8/10/2022

Overall was good but limited, so I stopped using it.

Pros

Ease of use. Many people use it in the US. Good for accepting and making payments.

Cons

You cannot make large payments or too many payments per day. They restrict you and block your account
Venmo says they are not for business transactions; only for personal payments.

Gina
Overall rating
  • Industry: Executive Office
  • Company size: 2-10 Employees
  • Used Weekly for 6-12 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Venmo is For the new aged business person.

Reviewed on 22/1/2022

Overall my experience like I said has been good with venmo I like it that it's versatile it's mobile everything is pretty much self-explanatory you know now there's Bitcoin you can buy I like it that I can use it for my business I can use it for personal I can use it anyway that I need to to fit the particular situation that I'm dealing with that's a great option I don't like that to cash a check you have to use the one particular service it would be nice if they offered several services so that you could choose which one you wanted to go through what rate you paid and then again like I said if you don't get accepted through one because they have issues or glitches or technical issues there is a backup that you can go through cuz some clients pay with checks and then that means we have to have a separate bank account to cash checks and I like the point of keeping everything together so that I can keep all my business stuff in one place

Pros

The features that I like most about them always is mostly that it's a very mobile and very versatile service that I can offer not only to my clients but that I use myself I not only use this in my business but I use it personally as well and it just makes it so much easier for me to be able to do all my banking or payments in one spot I can cash a check I can get a direct deposit I can take payments I can send money all of this while I'm still moving around and doing everything that I can for my business it's a great program a great payment option and a great way to be able to look at what you're doing financially while you're on the go.

Cons

I guess the feature that I least liked is that they use Ingo for their check cashing services and I have had issues as well as other people that I know with Ingo because they will shut you out of their system and not really give you a reason and getting through to customer service and getting it sorted is almost impossible and very time-consuming and in my field that's something I do not have time for is to sit down and talk for hours and try and figure out something that I have no idea was a problem and it usually turns out that it's a technical error or it's a glitch or it takes a long time to fix and by the time they do that you found an alternative to doing what you needed to do anyway so that's my only con with venmo is that they use that one check cashing service so if you want to cash a check and you can't use Ingo then you can't use that feature of venmo and that's that's a downplay

Lena
Overall rating
  • Industry: Veterinary
  • Company size: 2-10 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 7.0 /10

Venmo for business is a must

Reviewed on 6/1/2022

I think Venmo is a great option for businesses to accept payments. It has trust, security, and financial stability, so I don’t have to worry about mine or my customers information being stolen or my money being lost. I like that I am able to use across everything I need, from mobile payments to pos. It is so easy to use and I can track all of my sales and history easily.

Pros

I like the many payment options, the ease of use, and the trust I have for the company.

Cons

There are some features that should be more customizable, and the fees could be a bit more competitive.

Alternatives Considered

PayPal

Reasons for Choosing Venmo

The features were more convenient and it is easier to use and control my money.

Switched From

PayPal

Reasons for Switching to Venmo

It has more versatility
Cicily
Overall rating
  • Industry: Apparel & Fashion
  • Company size: 11-50 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Venmo Review

Reviewed on 5/1/2022

I love that it is really simple to use from offering the expense of a dinner to a companion to paying for products bought from a companion or merchant. No expenses, not all that much or obscure.

Pros

Speedy, helpful installments
Allowed to send cash from a financial balance or charge card
Low charge for Mastercard installments
Can pay for buys at select organizations
Offers a check card and a Mastercard
Adds a social component to sending and getting cash

Cons

At present, Venmo is just accessible in the United States. Along these lines, don't anticipate utilizing it on any of your impending worldwide voyages. It depends on an informal community of known companions and individuals in close geographic nearness to convey advanced installments.

What's another impediment you really want to know about with the application? It's just accessible for individual use when connected to a Visa or ledger. Along these lines, even those organizations that pay an expense to acknowledge it can't straightforwardly utilize it.

The organization likewise puts a cap on client exchanges of $4,999.99 each week. This breaking point is applied on a moving premise. The equivalent goes for getting reserves.

At the end of the day, on the off chance that you really want to send a huge amount of cash, look somewhere else. Or on the other hand separate enormous exchanges into more modest aggregates paid more than a little while.

At long last, pundits have raised worries with Venmo's present security conventions. They stay wary with regards to the portable application's capacity to secure individuals' accounts. All things considered, the organization has questioned these reactions various occasions by stressing security settings.

Brian
Overall rating
  • Industry: Consumer Services
  • Company size: 2-10 Employees
  • Used Weekly for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Why your business needs Venmo!

Reviewed on 22/12/2021

I love using Venmo and prefer it to any other payment method - its just so darn easy to use! I love it and you will too!

Pros

With Venmo your business never has to sacrifice an order for payment issues!
Venmo remains a top competitor in the payment processing market because of its versatility, ease of use, reliability, support and recognition - if you don’t have Venmo these days people start wondering what rock you’ve been hiding under!
Venmo’s user analytics and usability are top of the line and will make the payment of every sale the easiest part of the process!

Cons

I have nothing bad to report, the app is practically flawless for the purpose it serves! If there’s anything to perhaps improve upon initially it would be the inclusion of crypto currency as crypto will continue to rise in popularity around the world.

Alternatives Considered

PayPal and Meta for Business

Reasons for Choosing Venmo

I use both but prefer Venmo for the fee structure, ease of use, and social acceptance - PayPal is great but it’s also potentially more dated and less popular with the younger generations.

Switched From

PayPal

Reasons for Switching to Venmo

Venmo is again just the easiest to use and most popular amongst the younger generations. It’s trusted, reliable, and so easy anyone can do it!
Krishnamoorthy
Overall rating
  • Industry: Marketing & Advertising
  • Company size: 2-10 Employees
  • Used Weekly for 1-5 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Easy way to send and receive money

Reviewed on 27/9/2021

Venmo does not charge recurring fees, such as monthly or yearly fees, like other payment services. When sending money from a bank account, debit card, or your Venmo balance, there are no fees charged. Payment apps charge a 3 percent fee for credit card transactions, which is typical throughout the industry. There are also no fees associated with receiving money or transferring it to your bank account, unless you choose an immediate transfer rather than a regular transfer.
Venmo has a unique selling point in that it is not your normal payment app. Likes, comments, and messages are linked to each payment in this payments software, which incorporates popular social network elements such as likes, comments, and messages. Others, on the other hand, believe that it makes money transfers more enjoyable, which some users find to be true.

Pros

It is quick and simple to use. Finally, but certainly not least, it has a large user base, which means that many of your connections may already be using it. Venmo's success may be attributed in large part to its simplicity of use. There is very little of a learning curve. You may download it and begin sending and receiving money within minutes of installing it. Using Venmo to divide costs is also a breeze since it provides an on-screen calculator when you transfer or request money from someone. You may also send or request the same amount from several people at the same time if you're sharing a bill with a group of people.

Cons

Once you've made a payment via Venmo, there is no way to reverse it. The money is sent promptly to the intended recipient. If you need a payment to be refunded, Venmo advises that you contact the receiver and request the money back. Other than that, you may request that Venmo's customer service reverse the payment on your behalf; however, they can only do so if the receiver accepts, if their account is in good shape, and if they still have the cash in the bank.

Alternatives Considered

Payoneer

Reasons for Choosing Venmo

Venmo had more features and a better mobile user interface.

Switched From

Cash App

Reasons for Switching to Venmo

Personal transactions can be made using Venmo, instantly.
Nicole
Overall rating
  • Industry: Animation
  • Company size: 11-50 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Venmo personal review

Reviewed on 1/9/2021

My overall experience has been fair. Venmo's appearance is really good and makes me feel good being there. There are so many options that l used myself to make it more flexible for my business to send out and receive money. There are problems with scammers and detecting them. In the end its a good website.

Pros

Quick, convenient payments which makes it amazing in the times l really need to send out money under pressure. Free to send money from a bank account or debit card which is amazing because in my country we cant send money internationally so using venmo to make my payments international has made my experiences much more flexible. Low fee for credit card payments which is rare to find because everyone wants a commision and it is really good that you also have compassion for your customers. The website can pay for purchases at select businesses that l choose without me going there physically. Offers a debit card and a credit card that is international which makes it easier for me to make payments with websites that dont offer e-wallets. Adds a social element to sending and receiving money making it more user freindly and more appealing view.

Cons

Payments are public by default and this makes me feel a little uncomfortable knowing people know about financial part of my business. This will probably make it easy for internet crimes to happen. Can't cancel payments which is fastrating because i do make mistakes when l am entering infomationa and l look aheadcand l cant go back. This is making me give out unnecssary payments not meant for those people. Popular with scammers and this is making it harder to detect who is real to work with and whos not. This makes the website a bit difficult to work on with those type of people.

Eric R.
Overall rating
  • Industry: Internet
  • Company size: 2-10 Employees
  • Used Weekly for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Likelihood to recommend 9.0 /10

Venmo is a great consumer product with limited use for business

Reviewed on 7/6/2021

Venmo's incredible ease of use makes it essential for interacting with other people with whom I might loan or pay money for simple things. For vendors, it's a solid way to get access to credit card payments with okay fees.

Pros

Venmo is dead simple to use, with the QR code scan and effortless options to ask for payments or send them. The number of people who signed up for Venmo also helps - most younger folks are on it.

Cons

The social aspect of the software is a bit odd in that I'm not in the least bit interested in what my friends are paying one another for. When people get funny, I suppose it could be entertaining but too much of the feed is people paying each other for rent, groceries and other mundane stuff. Additionally, this present a business challenge where you need to be cautious about posting your purchases if it's a private purchase for your business.

Alternatives Considered

PayPal

Reasons for Choosing Venmo

Venmo is easier and in use by more people than PayPal.

Switched From

PayPal

Reasons for Switching to Venmo

More people have Venmo and it's not tied to Zelle's limited bank list.
Cierra
Overall rating
  • Industry: Warehousing
  • Company size: 10,000+ Employees
  • Used Weekly for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Venmo - 1 CashApp - none

Reviewed on 20/4/2021

My experience with Venmo was and is exceptional. I haven’t had even one bad thing happen with this app and it’s very reassuring to know your in good hands when doing transactions! Nobody wants to have to worry about where there money is and it’s safe to say that Venmo keeps your money and information secure and protected!

Pros

I loooooove Venmo! My favorite thing is that it’s safe because it’s completely controlled by you and only you! They also have tons of new features like a debit card. Plus they have customer service reps ready to help you with whatever, whenever! So you can send and receive money any time from anybody that has a Venmo account. Why is that special? Because it’s painless and timeless! This is my #1 app for transactions because it gets them done in no time. If your anything like me, I’m always on the go between kids, there sports, and work this app just really speeds things up when I need it most!

Cons

I think the only downside of Venmo for me is that my transactions are public so anybody that has a Venmo account can see them. It’s not bad per se but it’s not something I love.

Sean
Overall rating
  • Industry: Computer Software
  • Company size: 51-200 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Perfect for accepting payments as a small business and band

Reviewed on 11/4/2021

We use Venmo to accept many forms of payment for shows and merchandise sales and I could not be happier with our results in doing so. We can now accept more in payment from fans and friends where in the past it was dependant upon whether they had cash in hand or not. I cannot say enough good things about Venmo in regard to is making the lives of small businesses and bands easier in the current time.

Pros

Makes taking payment for anything (t-shirts, vinyls, tickets) incredibly easy as the user pool is so vast that nearly anyone you come into contact with will have this app on their smartphone. It makes our lives as musicians increasingly easy as the world becomes more digital and has increased our revenue ten fold. We no longer have to swipe any cards or accept cash only as shows now that we use venmo as our primary point of sale.

Cons

SOmetimes the scanning of other profiles does not work as intended. This feature working properly is incredibly useful and when it works properly it takes out the guessing in payment forwarding which is very nice.

Alternatives Considered

Square Payments

Reasons for Switching to Venmo

Venmo is much more widely accepted by our customer base and therefore the decision was a no-brainer for me and my team.
Andy
Overall rating
  • Industry: Entertainment
  • Company size: 2-10 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Likelihood to recommend 10.0 /10

Amazing Payment Solution for Many Applications

Reviewed on 29/3/2021

Venmo has always been a great experience and very intuitive...even for people who aren't technologically inclined. Everyone we have used it with or introduced it to has continued to use it afterwards with great results. We plan on using it for even more as it allows in the future. It's much easier and quicker than PayPal which seems to have been the standard until now.

Pros

Venmo is an incredibly easy and fast way to transfer money between people in a company for expenses and more as well as accept payments for merchandise (with the new business account options) and even pay people for their services. Since multiple people can be logged on, it allows 4 of us to operate financially when necessary without a delay. You can easily write what each payment is for and download monthly statements to keep accurate records of all of your transactions. Even better, most people have it and use it now so compatibility is rarely an issue. It makes everything we do faster and our customers even more pleased as they can pay for merchandise, tickets, or even simply donate at the click of a button!

Cons

The only tough thing about Venmo that rarely arises is if someone doesn't use it. In that case, we need to have a paypal or cash option ready but that's not an actual problem with the application itself. It would be great if they could add annual statements to their download option in addition to the monthly statements. Annual statements would save some time during tax season!

Verified Reviewer
Overall rating
  • Industry: Newspapers
  • Company size: 11-50 Employees
  • Used Monthly for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 9.0 /10

Very efficient and popular

Reviewed on 27/2/2021

Since integrating Venmo as an additional payment option that my clients can utilize to pay their invoices, my collections have gone down, the average age on debt was cut in half and my business has actually increased because the level of trust clients have in me increased as they saw me as more of a partner than a vendor. All around, my business has benefited greatly .

Pros

the first thing is that it is very simple to register, add an account and implement. the second pro is the fact that so many people are using Venmo. I thought it would be a challenge to implement as a business tool to collect payments from clients but I was very wrong. In fact, the majority of the clients I approached with this option were already registered.

Cons

the 2 biggest challenges to overcome were the security concerns people have about providing payment and account information online and chance of it being hacked. Having done the research on the product, those concerns were quickly alleviated and Venmo actually provided me with collateral to give my clients who had such concerns. the second challenge was overcoming the "Social Media" aspect. Venmo obviously gained it's popularity from the consumer side by incorporating a social media feel to it. Businesses on the other hand do NOT want their payments, collections, etc. broadcast in social media platform. It takes some convincing but once the ease with which payments can be obtained from their customers and how that can help increase revenues is properly explained, 9 of 10 clients jumped on board.

Alternatives Considered

PayPal

Reasons for Switching to Venmo

While Venmo is owned by PayPal and PayPal offers a more secure option for processing payments and sending money, Venmo provides the same avenue with which to quickly and seamlessly send money to individuals and is the 'hot' product right now. Having a younger influencer base that's already using Venmo opens up more options and thus provides the ability to work with another demographic segment
Shannon
Overall rating
  • Industry: E-Learning
  • Company size: Self Employed
  • Used Weekly for 1+ year
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Likelihood to recommend 10.0 /10

Venmo is a MUST HAVE

Reviewed on 26/1/2021

I know VENMO is owned by PayPal, but VENMO is so much better in the day to day of collecting and sending money. My kids have it, making is super easy for me to "pay them back" or for them to get paid by a neighbor for babysitting or helping out in some way. Also great for "collecting" from people for a teachers gift. Some cons: the default option is "public." Sort of like face book or Instagram, the list of "who" you have paid and your comment are public. The amount is not. I set mine to "private", but that is NOT the default. If you want to spy on your kids and their record is "public" it's super easy. Also, it must tie to a cell phone and only one VENMO account per cell phone number and per bank account. This can make it harder to get your kids on VENMO if they don't have an active cell number (google voice does not count!, I tried it). Also with your spouse/partner, they cannot be hooked up to the same bank account as you on VENMO. The functional outcome of this often is that just one of you may have VENMO on your device. Lastly, you need to know someone's VENMO ID first. If you pay the wrong person, there's no getting your money back unless they kindly return it. There is a cell phone verification process that helps though or you can "friend" someone first to be sure you have the right contact before sending money. The biggest pro, it's super quick. You can request or send money almost instantly. Definite must-have. Get a friend to show you how to use it.

Pros

Super easy to transfer funds to anyone. Literally takes less than 30 seconds to request or send money. No more "not collecting" from friends for "their share" of the night out, you just send a "request". Very easy to send a tip or pay a babysitter.

Cons

You can't tie your VENMO to a savings account.
Must have a cell number, google voice doesn't count.
Can be hard to search for people.
Setting default is "public" meaning others can see who you have sent money to and what you wrote in the comments.
You must write something in the comments or put an emoji for each transaction even if you don't want to.

LAURA
Overall rating
  • Industry: Cosmetics
  • Company size: Self Employed
  • Used Weekly for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Likelihood to recommend 10.0 /10

Perfect for person-to-person, not the best for businesses

Reviewed on 13/1/2021

I use venmo for personal use outside of the business very regularly. I choose not to use it for my business for the reasons I listed in my cons.

Pros

This is probably the easiest and most user friendly money transferring app that I have used.
Venmo charges the user a very small percentage to do an instant transfer and there are no fees to do a transfer that takes 1-3 business days.
If you are out for drinks and decide to put the bill on one person's card, you can easily send them money to cover your portion and they'll have it before the check even comes.
If you need your money transferred to your bank immediately, you can have it within less than 3 minutes.
Another pro is that nearly everyone has it on their phones these days and that keeps things simple.

Cons

It does keep track of your payments, received and sent; however, I feel that the use of venmo in a business is highly unprofessional and it can be a negative to the recipient. If a business owner or worker receives money for goods or services, they are charged a fee. While this fee percentage is very small, if you charge more than $100.00 for whatever your business provides, you're charged a fee and that adds up.
For example, I sent money for $1,400.00 and received a very nasty email from the recipient saying that they were charged $14.00 just to pull the money.
This is only with instant transfer, as I said, but it is something to be remembered for business owners.

Alternatives Considered

PayPal

Reasons for Switching to Venmo

Ease of use and the fact that everyone I know has it.
Kyle
Overall rating
  • Industry: Motion Pictures & Film
  • Company size: Self Employed
  • Used Monthly for 1+ year
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Likelihood to recommend 9.0 /10

Text Your Friend's Money

Reviewed on 4/9/2020

Overall Venmo is one of the most useful apps I currently have downloaded. Having a way to transfer money from my debit card with an app is extremely convenient. Not only that but having a Venmo Card that doesn't even need me to transfer money to the bank is amazing. Most of the people I know with a smartphone also already own Venmo so after a meal or going to the movies, transferring money using Venmo is as simple as texting your friend's money.

Pros

Venmo has helped me in a countless amount of situations when dealing with money transactions. Its simplicity and ease of use allow for people who aren't as tech-savvy to transfer money without having to take a trip to the bank to go through a complicated process of transaction that could result in scams. I also think that the feature of people seeing your Venmo transactions is a cute addition to the app and adds a bit of humor along with the app instead of it looking like any ol' boring transaction app. Of course, not everyone wants their transactions seen by their peers so there is the option to turn it off. When opening the app, it requires a Face ID which adds a touch of security so anyone using your phone can't abuse the app. Adding people to your friend's list is also incredibly simple since your contacts can be added with the touch of a button and adding others requires entering a username. If you have money left in your Venmo, you can use a Venmo Card which is a debit card that directly takes money out of your Venmo account rather than your bank when purchasing anything. However, if you do not own a Venmo Card then you directly deposit your money to your bank account whenever necessary. Venmo has so many amazing features that make it a great app to use whenever you need to. Although Venmo may have not been the first money transaction application, it certainly is one of the easiest and most popular which allows for anyone to transfer money to each other.

Cons

Venmo has many great features and not much to improve upon. One thing to note, however, is that when transferring money from your Venmo account to your bank account, a 1% fee will be deducted when transferring INSTANTLY. But honestly, this feature does not bother me at all plus there is the option to transfer it to your bank in a couple of days with 0 fees. Although not necessary I do think they could add a faster way to transfer money. My idea was that you could use voice control such as Siri, Alexa, or Google Home and tell them to transfer money to any one of your Venmo friends. I feel like Venmo has a lot of potential for new features but I don't feel like it doesn't need to be implemented as transferring money is already easy enough. Adding a dark mode or being able to change your color scheme may also be a neat feature.

Verified Reviewer
Overall rating
  • Industry: Higher Education
  • Company size: 10,000+ Employees
  • Used Weekly for 2+ years
  • Review Source

Overall rating

  • Ease of Use
  • Likelihood to recommend 10.0 /10

So easy and many friends, family and colleagues use this!

Reviewed on 19/2/2020

Love venmo! Literally use it with all my friends, family, colleagues, and businesses that accept payment via venmo. I rarely find someone who doesn't have this. It seems to be continously growing and asked of when coordinating payment of something. Highly recommend this software!

Pros

Takes a few simple steps to set up and start your account/link to your bank. So many people use this app that i rarely find someone who doesn't have it. Makes going out and splitting the bill with friends so much easier - to paying your babysitter, hairdresser, or the person who grabbed coffee for you, and so much more in a matter of seconds. People can also charge you or you can charge others when they owe you to help remind them and stay organized. Besides using the app, they push notifications to you every time someone pays or charges you, as well as when you make payment to someone. They will even send you an email to help stay on top of things.

Cons

Only down side to this working in fundraising and as someone who makes philanthropic donations, many people want to donate through venmo but the platform isn't currently set up for this capability. I believe they are in a pilot mode for this capability but doesn't feel like they are moving fast enough on it and once it does go live, will it be easy to implement? Larger organizations have trouble with this, while i see smaller, less complex organizations being able to implement well. Huge potential though for this software!