Do you know the Venmo app? It is a virtual wallet that will make it much easier for you to move money. Why should you choose it? It’s a ubiquitous question. After all, a wide variety of apps have emerged that perform similar functions, and it isn’t easy to choose one.
However, today, we will be talking about the advantages that this fantastic app offers you. This way, you will indeed have a more accurate opinion about whether you should use it to move your money. Are you ready?
What is the Venmo app?
According to the description, the Venmo app is defined as the best way to make payments and send money. The exciting thing about this is that PayPal Inc., the developer of the eponymous payment processor, has developed the app.
Now, what makes Venmo one of the best options for sending and receiving money? Let’s find out. Next, we are going to show you all the features that make Venmo an excellent option for moving money. It is a review like the ones you can find on the Insiderbits web portal.
Move your funds freely
It is clear that the main feature of Venmo is how easy it is to send and receive funds to anyone:
• No matter what service or product you want to pay for, with Venmo, you can send the exact amount to do so
• You can add notes to your payments to specify what service you are paying for
• Add contacts to your Venmo account so you can send money faster
The Venmo app is the easiest way to make payments to your friends, partners, or any business. In many stores, money has begun to be received through this means of payment.
Tools for Sellers
Are you a salesperson or run a business? Venmo is the ideal option for receiving payments. After all, it has some features like the ones we will mention below:
• You can create a commercial profile that will work parallel to your account. This way, you can make payments or receive money under the name of your company.
• Make multiple requests for the same payment for several of your contacts. If numerous people owe you money, you can send reminders with Venmo.
• This app allows consumers to keep their accounts linked to the stores they visit. This way, they keep their favorite products selected, which increases the purchase rate.
• The instantaneous nature of their payments characterizes Venmo business accounts. It doesn’t matter if you are shipping to suppliers, partners, or even returns to customers. Payments will be made the same day you make them.
• Thanks to its shared use with PayPal, you will be able to have a large influx of clients, even if they do not use Venmo. After all, PayPal users will also be able to make payments to their accounts without any additional commission.
• Thanks to the Venmo feed, you can promote your products on an utterly social platform. It is like an Instagram profile but with more extraordinary facilities when making store payments.
As you can see, the Venmo app is, without a doubt, one of the best options for businesses. It offers many facilities to reach consumers and manage the money that comes and goes.
Pay your way
For buyers, Venmo also offers many facilities that can hardly be seen elsewhere. Insiderbits brings you some of the most notable ones:
• Venmo offers you a debit card so you can make payments at your favorite stores. In some cases, you can get refunds, and you won’t have to pay monthly fees.
• You can also apply for the Venmo credit card that allows you to earn cashback between 1% and 3%. Plus, with all the benefits of having a credit card ready to finance your purchases.
• In some stores, the QR code is enabled so you can make your purchases faster. You have to scan with the camera, and the option to execute the payment with Venmo will appear.
• There are apps like Uber Eats or Grubhub that allow you to pay directly with Venmo.
Apps, stores, and cards with the best conditions for you as a user. How not to use Venmo? This app has it all. In addition, with constant updates, you will get more benefits for a better experience.
It is evident that the Venmo app has several interesting functions when it comes to sending or receiving money. We will describe many of these here so you can see everything it offers us:
• Currently, you can request the Teen Debit Card for minors. It is a great option for parents to start encouraging their children to manage their money.
• With just $1, you can start investing in cryptocurrencies directly from this application. Some currencies you can acquire are Bitcoin, Ethereum, and Litecoin.
• It is possible to establish the Direct Deposit function from your employer. This way, you will receive your salary two days in advance directly to the Venmo app.
• There is a consumer protection system for certain businesses authorized by Venmo. It means that you can always be sure that your funds are protected.
Venmo has come to revolutionize the way we manage money. Therefore, it has extensive functions that will allow you to live a great user experience.
How to use Venmo?
Now that you know the main benefits of Venmo, it’s time to talk about how to use it. After all, you must follow specific steps to enjoy everything the app offers you:
• First of all, you must download the app on your phone. You can easily find it in the Play Store, although you should pay attention to availability by country.
• Create an account using the “Sign Up” button. You can always use your Facebook account to facilitate the process or enter your basic information. In this case, you will be asked for your name, email, and password.
• You are then asked for your phone number to send you a secret code. You will receive an SMS with the code so you can verify your account.
With these simple steps, you will have your Venmo app account ready. However, there are still several steps you must complete in order to send money wherever you want. Don’t worry. Here at Insiderbits, you will always have all the information.
Assign a payment method
Once on the main Venmo screen, you will have to go to the options button at the top and left. Next, look for “Settings” and click here to continue with the process:
• Next, search for “Payment Methods” and click on it. It will allow you to assign a payment method to your Venmo account in order to validate it.
• On the next screen, you will surely see that your balance is 0 dollars. In this case, you will have to click on “Add bank or card.” This way, you will be given the option to associate it with your bank account or a credit card.
It should be noted that when using your bank account, you will not have to pay any fee for your transactions. On the other hand, when using a credit card, you will be charged 3% of your money transfers.
When you go to add your card, you will only have to add the number, expiration date, and security code. You are also asked for the ZIP Code to complete the process, and you will only have to click on “Add.”
Add money to your account.
It is vital that you have money in your Venmo account to be able to enjoy all its benefits. Therefore, below, we are going to show you what you should do to anchor:
• From the main screen, you must press the icon above and to the right. It will allow you to access several options, and you will only have to click on “Manage Balance.”
• You will see two options, one of which is “Transfer to Bank,” but this is not the one that interests us. We must go to the “Add Money” option.
• Then, a window will appear in which you will be allowed to enter the amount of money you want to add to the Venmo app.
• Towards the bottom of the screen, you will see the “Next” button that allows you to access the summary of the operation. Here, you will only have to click on “Add Money” to finish.
You will be able to see where the transaction is going and how long it will take for it to become effective. Typically, it can take 3-5 days for your money to appear in your Venmo balance.
If you fund from your debit card, the terms are shorter. Thus, you can have your money in your bank account in just a few minutes.
How do I send money?
Once you’ve signed up for the Venmo app and associated your payment method, you’ll be able to send money. How do you do this? Pay attention to the following steps:
• Return to the main screen and click on the icon that you will find at the top and to the right.
• A menu will open in which you can write the nickname, phone number, or email. Any of these three options will help you select the user to whom you want to send money.
• You will also see below the “Scan Code” option to scan a QR and thus send money faster.
• Once you choose the user, the option to select the amount you are going to send will appear. Here, you can also place a note and, most importantly, adjust the payment privacy.
• You are also allowed to place stickers to decorate the note message
• At the end, you will be able to choose whether the order you have created is to make a payment or to request it. In the latter case, you will have to click on “Request” to make the request.
What does it mean about privacy? Venmo will allow you to choose if you want the payment to be public or private. An option that appears as a result of the problems that occurred in the past with prices.
Before, Venmo was a platform where you could see the payments made by users, and this generated a lot of controversy. Therefore, now you can choose if you prefer that only your friends see them or that it be completely private. Obviously, the latter is the most recommended option.
Venmo has gained a lot of popularity
If we talk about how the Venmo app has been received in the Play Store, there is no doubt about its popularity. It has been an app that has competed directly with references in its category. Among the most notable data, we can mention the following:
• Currently, the application has a number of downloads of more than 50 million in the Play Store. Adding Apple users and the browser version, the number of users almost reached 100 million.
• With more than 700 thousand ratings made by users, its overall rating stands out a lot. There are 4.9 stars that demonstrate the quality of this app.
Of course, this app requires your Android device to be a little more advanced than average. In fact, an 8.0 operating system is needed for your mobile to run the app. Any phone from 2017 has this software, so it shouldn’t be a problem.
Manage your money your way with Venmo
What did you think of the Venmo app? Isn’t that great? You could say that it is the direct competition of Zelle. However, it offers many additional functions that make it a valid option to mobilize your money.
Are you going to approve the app? It is best that you enter the Play Store as soon as possible. In addition, you will be able to learn about all the functions that have positioned Venmo at the top of its category in the Play Store. What are you waiting for? Remember that Insiderbits, you can discover the best applications for your mobile.