What can you tell me about Venmo?

traces7

DIS Veteran
Joined
May 19, 2005
This is new to me. My 19 year old DD wants to use it to pay back some money to a friend. Is it safe? She says everyone she knows uses it. I know nothing about it. I see you can hook it to your bank account, debit card, or credit card. If you hook it to your credit card, there's a 3% charge. She wants to hook it to her debit card. Makes me nervous. Any advice? Thanks!
 
This is new to me. My 19 year old DD wants to use it to pay back some money to a friend. Is it safe? She says everyone she knows uses it. I know nothing about it. I see you can hook it to your bank account, debit card, or credit card. If you hook it to your credit card, there's a 3% charge. She wants to hook it to her debit card. Makes me nervous. Any advice? Thanks!
It’s owned by PayPal. I’ve used it for over two years with friends etc. and have never had an issue.
 
My DD (20) and her friends all use Venmo and have never had a problem.
 


Me, DH, and several people we know use it. It’s secure and safe and we’ve never had an issue with it. I always get an email within seconds of sending money (so you’d always know if there was strange activity right away).
 


My miltary son uses it all the time. I have also used it when we sold his car and I had to send the money to him. It’s very reliable
 
I had never heard of it until Venmo showed up on a credit card statement of mine about 6 months ago. Called Chase and they said it appeared that my cc had been hacked and they closed that card and sent me a new one with a new account number.
 
Dd21 just venmo’d me money. I love it, it’s so easy and much easier than to have to remember to pay someone back for something.
 
Thanks everyone for your responses! DD told me all her college friends use it. Good to know that it's safe! Now another question, do you just link your debit card to the account? We saw that if you use your credit card, there's an extra fee. Thanks again! :)
 
Thanks everyone for your responses! DD told me all her college friends use it. Good to know that it's safe! Now another question, do you just link your debit card to the account? We saw that if you use your credit card, there's an extra fee. Thanks again! :)
You can link your debit card or directly to the bank account, I wouldn’t link the credit card since they will charge you the 3% processing fee.
 
I use it during Girl Scout cookie season as college kids have it around here. I have friends who prefer this over Paypal or Cash (believe this one is by Square). It's safe. FYI- you can only have one account per phone number.
 
Just know to be very careful to be certain to enter the right recipient information as there is little or no recourse if you send funds to the wrong person and it's your error (same with Zelle and other similar apps). Your bank will basically treat it as if you took cash out of your account and mailed it to the wrong person.
 
It is safe but I don’t personally use it.

All the banks in our area use zelle so that is what my friends and family use to send each other money. It really is nice when going out to eat as a group. We no longer have to have the waitress or waiter split the ticket. One person pays and everyone else zelles their portion to them. The money shows up immediately which I like since some of the others can take 1-2 business days to process into my account.
 
I have heard about it but we don't use it, but our banks here in Canada have had email money transfers (e-transfers) for years. My sister has been sending me money to pay me back for stuff since DD was a baby. She's now 9. With most, if not all the banks and Credit unions in Canada having had a similar service of e-transfers for years, and it's included in most banking plans.


Friend of ours in the US used it to pay someone back for stuff when she lost her credit card.
 
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I use it during Girl Scout cookie season as college kids have it around here. I have friends who prefer this over Paypal or Cash (believe this one is by Square). It's safe. FYI- you can only have one account per phone number.

The troop that was selling by my daughters college was making a killing because they took venmo- saw my daughter made like a 100.00 venmo purchase and then all these other payments being made to her. She texted everyone in her boyfriends house that she was by a cookie booth and they all gave their orders and venmo'd her their money
 

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