What is Venmo? How does it work? Fees, safety, limits, and more explained
Venmo is a service you’ve probably heard of, especially in the United States, even if you’ve never used it yourself . It can be a hugely convenient way to handle simple money transactions, but it isn’t quite the same as a bank account or debit card. So, what is Venmo, and how does it work? Here’s everything you need to know, from fees and transfer limits to concerns about safety. Want to get started with Venmo right away? Click the buttons below to download the app from the Google Play Store or Apple App Store. What is Venmo? Venmo is an app for Android and iOS that enables quick and simple money transfers between individuals. It’s primarily for use between family and friends, and often marketed as a way to split bills, reimburse friends for cab rides, or pay roommates for your half of the rent. Like PayPal, Venmo hooks up to your bank account or debit/credit card, although there is an in-app balance as well. What makes Venmo unique is its focus on social interactions. Each pay...