Use the Venmo App with anyone!

Use the Venmo App with anyone!

blog-image-04-venmo

Use the Venmo App with anyone!

You can pay family and friends with the Venmo app via phone number or email address. If they do not have a Venmo account the payment trans- action will provide them with the de- tails of how to set up an account.

Venmo would like to “work” with your Facebook account, but I would NOT recommend that connection. Considering there are 60k accounts hacked daily on Facebook; I would never trust any financial connection to a Facebook Login.

When you use Venmo, there is a 3% fee if you use a credit card; other- wise there are no fees associated with debit card, sending, receiving and transferring funds. Venmo ac- counts are individual accounts, so couples will utilize an account for each person.

When the creators of Venmo were brainstorming a name, one of the routes they were exploring for inspira- tion was the Latin, vendo/vendere— to sell—which turned into Venmo. It then became a verb—meaning use the Venmo app to pay someone. “Just Venmo me for dinner.”

As for the security of Venmo; I always warn users, anytime you put your fi- nancial information in a web site you are taking a risk. But every time you get into a car… you are taking a risk, right? It is all about managing that risk. Paypal bought Venmo back in 2014. Paypal is your digital check where Venmo is your digital wallet. I would NOT connect Venmo directly to your daily checking or your savings account. Set up a separate account to use as a holding area for your transactions. This way if something gets hacked, they can’t take all your money.