Venmo is an app-based payment service, available for Android and iPhone, where users can send, request, and receive money. Show
Venmo allows you to link your debit and credit cards as well as bank accounts to send payments to friends and family within the US. Learning how to send money on Venmo is easy. Here's what you need to know. Check out the products mentioned in this article:iPhone 11 (From $699.99 at Best Buy)Samsung Galaxy S10 (From $899.99 at Best Buy)How to send money on Venmo using the app1. Launch the Venmo app from the home screen on your iPhone or Android phone. 2. In the top-right hand corner of the screen, tap the payment icon, which looks like a pen and pad with a money symbol. This is where you can send and request money. Tap the payment icon in the upper right-hand corner. William Antonelli/Business Insider3. Next, in the textbox, enter the username of the person you want to pay. You can also find them in your list of friends by scrolling down. If you enter in the name of someone who you've never sent money to before, you'll be asked to confirm that you're choosing the right person. Enter the Venmo username of the person you want to pay. William Antonelli/Business Insider4. Enter the amount you want to send. 5. Here, write a brief memo or description of what the payment is for. You can also alter who can see the payment by tapping the icon near the bottom of the page that reads "Friends," "Public," or "Private." 6. Once you've filled out the payment amount and memo, select "Pay." 7. For the final step, you can specify how you'd like to pay — choose between the credit and debit cards or bank accounts linked to your Venmo. Enter your memo, specify how you'd like to pay, and then select "Pay" at the bottom. William Antonelli/Business Insider8. If everything looks good, tap "Pay" at the bottom of the page. You will then receive a confirmation email and the transaction will appear on your Venmo profile page, and in your feed. Related coverage from How To Do Everything: Tech:
Meira Gebel is a freelance reporter based in Portland, Oregon. She writes about business, culture, and technology for Insider. Her work has been featured in Digital Trends, Willamette Week, USA Today, and more. She is a graduate of Columbia Journalism School and San Francisco State University. Feel free to reach out to her on Twitter, where she can be found most of the time, @MeiraGebel. Read more Read less Insider Inc. receives a commission when you buy through our links. Venmo remains one of the most popular mobile payment systems in the United States. Here’s a look at how you can pay someone with the payment service. Venmo remains one of the most popular person-to-person or person-to-business mobile payment systems in the United States. With ease, you can send money using your iPhone or Android-based smartphone. There’s also a Venmo Debit Card available. Here’s how to do it. What Do You Need?Completing a payment transaction with Venmo requires having a balance in your account. Otherwise, it must be backed up by an external payment method, either a bank account or card. Venmo BalanceWhen another Venmo user pays you using the service, the money is kept in your account unless you transfer it to an outside source. You can use your Venmo balance to make payments to individuals or authorized merchants. External SourceTo add an external source in the Venmo app:
Next:
About Payment SelectionsVenmo balances that fully cover payments will be taken first. Otherwise, your backup source is used. For example, if you attempt to make a payment for $100 and you have a $150 Venmo cash balance, $100 of that balance will be made to make your purchase leaving you with a balance of $50. If, however, you have only an $80 Venmo balance, your $100 payment will come entirely from the backup source. Note: You can set different default payment methods for purchases and payments to friends. You’ll be prompted to set up these payment methods when you make a purchase for the first time. You can choose a default payment source in the Venmo app:
Paying Through VenmoYou can make payments using the Venmo app or Venmo debit card. The easiest way to do so is person-to-person.
Paying MerchantsVenmo is now part of PayPal, which means more merchants than ever before that support Venmo payments. Merchants that accept PayPal don’t necessarily also accept Venmo payments, however. Unfortunately, finding a merchant that accepts these payments isn’t nearly as simple as it should be. Currently, Venmo is available as a payment option in select merchant apps and for select merchants on a mobile browser. To check out at these supported merchants using Venmo, you will need to have the Venmo app installed on your mobile phone and will need to opt-in to make purchases. From there, you can make your purchase. To opt-in:
To Make a Merchant PurchaseThrough your native mobile browser, you’ll see a PayPal button or Venmo button.
In apps:
You can find a current listing of companies that support Venmo as payment through the Venmo website. What About the Venmo Debit Card?Another way to make payments using your Venmo balance is through the free Venmo Debit Card. You can apply to receive a card directly through the Venmo app; the card works like any other debit card. It also includes a rewards system, which allows you to earn money on purchases at specific brick and mortar stores. Once you have the Venmo Debit Card, you can track purchases in the app, change your PIN, or temporarily disable the card. You can also Reload Automatically, which allows you to add money in $10 increments from your external account(s) to cover any purchase amount that exceeds your Venmo balance. With the card, you can also withdraw cash from your balance at supported ATMs. About FeesIn most cases, Venmo doesn’t charge a fee for basic service. As it explains:
There’s no ATM withdrawal fee using the debit card in-network. However, Venmo does charge $2.50 when using an out-of-network ATM. Other fees:
Worth ConsideringYou can find more information about Venmo through the official website or app. You can also check out our report on how to use Venmo. Can I pay someone via Venmo without an account?If you don't have access to a Venmo balance, you'll need to add a U.S. bank account, credit card, or debit card to make a payment. If you do have access to a Venmo balance, you'll need to add a U.S. bank account, credit card, or debit card if you want to make payment larger than the amount in your Venmo balance.
Do both parties need a Venmo account to send money?Like Zelle, Venmo allows users to send and receive money using an individual's phone number or email. Both users must have a Venmo account. If a recipient doesn't have an account, they'll have to create one.
What happens if you send Venmo to someone who doesn't have an account?When a payment is sent to an email address or phone number that isn't associated with an active Venmo account, the payment may show as “Pending” in your feed. (This will also happen if the email address or phone number hasn't been verified by the recipient.)
|