Venmo is a digital wallet and social commerce platform that helps users carry out transactions and purchases. Its features include instant messaging, data encryption, social media syncing, and mobile and web apps among others. In this article, we cover Venmo reviews and pricing. Ready to get started? Sign up for free.
The Venmo pricing scheme is as follows: Sending money via credit card (3% of the transaction), Instant Transfer (1% – fees: minimum $0.25 and maximum $10 per transaction), Non-MoneyPass ATM withdrawal ($2.50 per transaction), and Over-the-counter cash withdrawal ($3 per transaction).
|Opening and Maintaining Account||$0|
|Sending Money via Credit Card||3% of the transaction|
|Instant Transfer||1% (Fees: minimum $0.25, maximum $10 per transaction)|
|Non-MoneyPass ATM Withdrawal||$2.50 per transaction|
|Over-the-Counter Bank Cash Withdrawal||$3 per transaction|
Interested users would be glad to learn that there are no fees for opening and maintaining a Venmo account, making online purchases, and processing transfers via bank or debit card.
Ready to get started with Venmo? Sign up for free.
Summary of Positive Venmo Reviews
Users who gave Venmo a positive review like that its user interface is simple and intuitive. They also said that they find it to be a very convenient alternative to cash payments.
One user who gave Venmo a positive review on Capterra commented that she uses the platform to manage her household finances and business transactions. She also mentioned that she appreciates that it allows her to easily transfer money to people who use different banking institutions.
Summary of Negative Venmo Reviews
As of the date this article was written (April 11, 2019), there are no negative Venmo reviews available online. If you are a past or current Venmo customer, leave a review to help others who are deciding whether or not to use the software.
Top Mobile Payment Software Pick from Fit Small Business
6 Best PayPal Alternatives 2019: PayPal is a global name in online payments, but there are plenty of cases where a PayPal alternative is a better choice for business or peer-to-peer payments. Other PayPal alternatives deliver lower processing fees or faster deposits for businesses, as well as offer more advanced peer-to-peer payments, like free instant transfers between bank accounts.
Check out the list below of some of Venmo’s features:
- Instant messaging
- Data encryption
- Bank transfers
- Payment via credit card
- Cash withdrawal
- Social media syncing
- Mobile and web apps
- And more
Can I use Venmo on my computer?
As of the date this article was written, Venmo is available only for mobile use via its app and mobile web browsers.
Does Venmo impose any payment limits?
Yes, there are weekly and daily limits depending on the type of transaction, whether or not the merchant involved is authorized, and whether or not the user’s account is verified. For more information regarding Venmo’s limits, visit its website.