Home Reviews How Does Venmo Work – Guide to Make Use of Venmo

How Does Venmo Work – Guide to Make Use of Venmo

by cardshure

How does Venmo work? is one of the frequent questions on the lips of those who want to use the Venmo transfer payment option. So, to help you understand what Venmo is and how it works, we are going to start from the basics for a better understanding.

How Does Venmo Work - Guide to Make Use of Venmo

What is Venmo?

Venmo stands as a peer-to-peer payment portal that acts just like Square Cash or Zelle from Chase. Owned by PayPal, Venmo is a mobile app which facilitates the process of sending money easily among friends. You don’t need a credit card, no wallet, no fees. All you have to do is link the app to a debit card and spend away.

You can easily use the Venmo app to send as well as receive payments to or from other people online. Venmo can also be used as an option to pay for goods and services from some other online retailers and to make in-app purchases in some online apps. Businesses on the other hand, prefer using Venmo in making payments to freelance employees.

Venmo can also come off as a social platform. This is because if you do not change the settings, your transactions are visible to the public and your friends on the platform. While using Venmo, you can see who’s sending or receiving money from who, as well as the notes they include about what the payments made are for.

You can easily create an account on Venmo by easily entering your email and choosing a username and password or by using your Facebook account in creating your Venmo account. With the ease that you can set up an account, those who want to, can easily create an account without stressing themselves out.

How Does Venmo Work?

Now back to the question of how does Venmo work?

When using Venmo, users can make payments by linking their bank account, debit/credit card or by using their Venmo balance if they have access to any. Once a user links his/her bank account, he/she can easily transfer money in their Venmo account to their bank account.

Those who use Venmo can easily transfer money quickly by using a friend’s phone number, email address or username. In a case where the recipient does not have a Venmo account and a payment is sent via their email address or phone number, the recipient can create an account just to receive the funds.

Once they do, users can also automatically find friends automatically by syncing their Facebook account or phonebook. Most Venmo users find the platform very useful when it comes to splitting payments with friends and family.

Most users also like to share their payments and purchases on the Venmo social feed with a fun comment. The actual payment amounts on the other hand are actually hidden. So if your question was “how does Venmo work” now you know the answer.

How to Use Venmo to Pay and Receive Money

Intending Venmo users are also asking questions like “how does Venmo work to receive money “ and “how to use Venmo to pay”. We are going to answer both questions here and now.

If you want to use Venmo to pay and receive money, it’s easy. Just do the following:

  • To send a payment to someone
  • Click the circular icon at the bottom right of the app.
  • Choose the friend you want to make the payment with.
  • Enter the payment amount
  • Tap on whether you are requesting money from the recipient or paying to complete the transaction.
  • Directly above the Pay button, you’ll find a button which shows who can see the reason for this transaction.
  • You can choose either Public, Friends, or Private. If you choose the latter case, the transaction will be completely hidden from the app’s time line.
  • If not, the description of your transaction will be public but not including the exact dollar amount.

With the following outlined steps, you can easily send and receive money in a flash.

How Fast Does Venmo Work?

When it comes to speed, Venmo has it. When you send money to someone on Venmo, the money is made available to the recipient almost immediately in most cases. However, in some rare cases, there may be a problem processing a payment. If an issue is detected, funds may not be available to the recipient right away.

If the payment has an issue or it’s been flagged for review, it will be typically resolved within 48 hours according to the Venmo site.

So now you know all about how Venmo works. If you have been thinking about signing up on Venmo, now is the time.

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