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During the Covid-19 quarantine, my son wasn't able to work at the bar where he has been an assistant manager over the last five years. The bar still hasn't opened completely, but he was able to find employment in a different field in the meantime. However, the money he was used to making was diminished significantly. I have used Venmo several times to assist him financially and it has proven to be an easy and reliable way to provide help to loved ones without putting anyone at risk. Thanks! Stay safe and VOTE!
I recommend Venmo because it's easy to transfer money to and from friends. You can also write notes to remember the transaction. Venmo has 3 tricky aspects: First, finding people for the first time can be tricky. Second, you need to actively deposit money people send you. Otherwise Venmo stores it for you without interest. Third, as most social media companies - Venmo (over)shares private information. However, you can turn off sharing it with friends but I don't know their third party sharing policy.
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Venmo is easy, fast, and convenient. Have used it countless times with no problems. The only issue I have is that the app does not allow you to stop payment. The recipient must send the funds back to you. What if you accidentally send to the wrong person and said person refuses to return the funds? I understand the transaction is an ACH so it's instantaneous, but would be a nice feature to have the option to cancel. Otherwise triple check your sending funds to the correct recipient beforehand.
I used this service to pay my friend for helping me out with odd jobs. It is easy to find a person's account with either their phone number, username or scanning their username. The funds are transferred fast and the person has the option to either pay a small fee to quickly transfer funds or pay no fee and wait a few days for their bank to transfer the funds. It’s my preferred service of money transfers. I feel like my information is protected and my money is safe. Highly recommend.
It’s fast, easy and if you have money in it and your bank account does not. Bam! Transfer and you have it. It’s almost like a little savings account. It makes paying for things easy without having to have your bank card on you, or messing with cash. Myself It has made getting money to my daughter out of state A lot easier. Not to mention when she needs it fast, it there! And when she pays it back, no more snail mail waiting for the repayment.
To simply change my phone number I couldn't update on app or website, I called and was told I had to submit 5 second video of myself AND a photo I.D. I never will do business with businesses that transfer calls OR make absurd rules.
Got an email solicitation from PayPal to open a Venmo account and I'd get $10. But I never got the $10. I looked into the offer on the internet to see if it was a scam and turns out many others didn't get it, either. Not only that, but seems there are a lot of problems with funding and transfers, with bad customer service. So I never added funding info or used the account. I tried to close it but it said my account was frozen. I've spent so much time emailing and then an hour calling but they can't/won't help me. The support call center is just an answering service, basically. They can't do anything (and often don't respond to emails or send automated replies) and must send my problem to an "account specialist".
So this brand new account, with no activity and no funding, is "frozen" and can't be closed, needs a "case", and "investigation" in order to get it closed. Plus I had to send a photo of my ID to "verify" my account, which I have never heard of having to do that before. So I don't trust them and I want this account closed. I threatened to close my 20 yr old PayPal account over it, as PayPal owns Venmo and got me into this mess, and which I did end up closing today (with no "frozen" nonsense, was instant).
I won't do business with anyone (Venmo) who only has an answering service for support (and endless hold), or their parent company (PayPal), esp when it involves banks and money. If there is a problem, you need to be able to call and talk to someone who can fix it, like all other support I use (imagine if my bank was like this!). So beware and do an internet search before you open a Venmo account, like I should have done. As it is, I will have to keep wasting time and energy to get this Venmo account closed.
Horrible experience trying to access my Venmo accounts and transfer money into my checking account. There are no live personnel help. Funds can be trapped in Venmo for months. Expensive to use as a business. As soon as I finally get the last of my funds transferred out, I am terminating VENMO forever!
Venmo is pretty useless application. I could not transfer money from my bank to Venmo account due to this is additional service. I could not make payment with Bank transfer (listed in Venmo account) due to Venmo balance has a priority and you cannot use bank until you have money on Venmo balance. It even sounds ridiculous. I thought company wanted to make payments easy for people. Why do we need another pain in the **? Don't we have enough already? Easier to come back to checks then.
I made a purchase in early June 2021 and used Venmo to pay for the purchase. Mistake! I got ripped off (my fault). Sent an email to Venmo's customer support and was told there was nothing I could do. Fine. Gave them the name of the individual on Venmo linked to the fraud and nothing happened. Looked today and the account is STILL active! Their basic response was: "Venmo is designed for payments between friends and people who trust each other. Avoid payments to people you don't know, especially if it involves a sale for goods and services (like event tickets and Craigslist items). These payments are potentially high risk, and you could lose your money without getting what you paid for. Venmo does not offer buyer or seller protection." They were NOT lying! They offer NO protection! Don't use VENMO!! They offer NO protection and apparently don't care if their site is being used to move money for scams.
Venmo author review by ConsumerAffairs Research Team
Venmo, owned by PayPal, was founded in 2009 and is headquartered in New York. The service lets individuals easily pay one another for their part of a restaurant check, group-purchased gift, utility bill and more. It is popular among younger customers and college students.
Facebook: New users have the option of signing up for a Venmo account with their Facebook login credentials, which makes signing
App: Venmo’s app, available for iOS and Android devices, allows customers to send and receive money easily using their mobile device.
Fees: Users who send money from their Venmo account, a linked bank account, a debit card or a prepaid gift card do not pay any transfer fee. Those who use a credit card must pay a three percent fee. There is no charge for paying for purchases in other mobile apps using a Venmo account. Receiving money is also free.
Payment options: Venmo users can pay for several other services and products in third-party apps, like Gametime and Parking Panda.
Request feature: When friends agree to pay a customer using Venmo, the customer can send a reminder with the click of a request button in the app. This feature removes the awkwardness from reminding others they owe the user money.
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