Do you have Venmo? When I first arrived in the US I have been asked this question and I didn’t have a clue what it is about, in this blog which is mainly dedicated to the new fellows I will explain what is Venmo and how to use it safely.
1- What is Venmo?
Venmo is a free mobile app that lets you make and share payments with friends. You can easily split bills, taxi fares, pay rent ..etc
2- Is Venmo free?
Yes, you can send money/receive money from any of your friends who have Venmo installed on their phones for free.
3- How does it work?
A- First of all you need to download and install Venmo app from the app store or google play store links are provided below or just search Venmo on your phone:
Appstore link for iOS users (Iphone)
Googleplay link for Android users (Samsung, LG, Motorolla..etc)
B- Once you have installed the app you need to sign up either using your email or Facebook. You will be sent a verification code to your email address, copy and past to the app to verify that you own the email address.
C- Wait for Venmo to verify your account.
D- Link Venmo to your bank account.
In order to do that: Go to Settings > Bank and Cards > Link bank account and enter your account details, don’t worry Venmo is safe.
Important note: it is recommended to set up Venmo using your bank account and not your credit card as you’ll be charged 3% for each transaction if you used the card.
C- You are all sent, in order to request someone to pay you Or to pay someone, simply tap pay/request icon then look for your friend using either their names or phone numbers, it is preferable to use their Venmo ID to avoid paying someone else who has the same name. Once you are sure that this person is your friend enter the amount and then select either Pay if you want to pay them or Charge if you want them to pay you. Add a note to the transaction, usually, it’s the description of the nature of the charge (Food, Taxi..etc)
Congratulations, you can now use Venmo 🙂