Venmo Review 2022 :
In Todays world cash is no more king . What do we mean by that is people no more like to carry their money in cash format as everything right from shopping, booking a cab, making reservation or even making an appointment is possible using app, So why to carry money in cash format, Why not to embed such a system where user can carry cash within their mobile application.
This is where online payment systems comes into the picture and according to geographical region there are different type of online payment platform. But the biggest platform which is available in more than 200+ country is nothing but pay pal.
Pay pal is a website where user can do international payments in no time. But what if user wants to do small payments ? and within the united states?.
This is possible with Venmo a product of Pay pal which was acquired by Pay pal in 2013. Venmo is an application which is used in order to do small payments seamlessly within united states.
Know About Venmo : Venmo Review 2022
Venmo is an application which is used to transfer small amount of money from one bank to another without any banker intervention. This app was found in 2019 by Andrew Kortina and Iqram Magdon Ismail.
Later this application was taken over by pay pal to serve the purpose of online money transaction within united states. Venmo has around whooping 2.5 millions download thought its time along with its parent company pay pal which has around 2 millions.
Venmo has acted as an life savior in united states during pandemic in order to achieve touchless transactions.
Features of Venmo Application :
Syncing your friends from Facebook:
Now inside venmo there are 2 ways any user can sign up , One way is via Email and other one is via Facebook. Now the interesting part is here is that when any user signs up with Facebook , all their friends using venmo will be automatically synced and user will be able to see whatever transaction their friends have done under 2 people logo at the top.
At one person logo you can view what transactions you have made over the period of the time and at the right most global logo is just acting as an feed where we can view what your friends are posting.
Adding your debit or Credit card:
Now inside venmo to transfer the money from one account to another you need to add your bank account or credit or either debit card to it. It can be simply done by clicking on 3 dash icon at the top left , then select settings and clicking on payment methods. Now you can add either your bank account which is free way to transfer money to your friends or either we can choose card option which will charge you around 3%.
To transfer the money inside the venmo app , click on the pencil money icon at the top right corner of your screen. You will be able to find list of people whom you might wish to transfer money and by searching their name and selecting it we can transfer money to that particular person.
Now while sending the money we get the option to make your payment message as global, view only to friends or private. Private keeps your payment message and information available to you and the friend you wish to transfer money to.
Scan Code :
Asking for some one details every time to transfer money doesn’t seems very convenient, So Venmo has added an extra feature where user can scan QR codes and transfer money from other account to another without actually sharing details which makes online transactions super easy and lightning quick.
Venmo Balance :
Now Suppose any user who haven’t attached their bank account with venmo app , and at the same time there friend sends them money via venmo, Where is this money transferred?
Venmo amazing wallet named as venmo balance is the place where money for such user will be stored.
Transferring Money from venmo Balance to bank Account:
Money from venmo balance which acts as an venmo wallet can also be used to transfer money back to our bank account. Just click on 3 lines at the right corner and at the top click on transfer button which will give you the option to transfer money from venmo balance to bank account.
Now this is nothing but an debit card provided by the Venmo application where user can customize there venmo card as per as there need and use it in future to get cashbacks and offers at various stores.
Most Asked Queries: Venmo Review 2022
how to use venmo balance instead of card :
Now venmo balance is nothing but kind of wallet we can use when we have not added our bank account to the app. There are few ways in order to use Venmo balance instead of card.
1) Just open your venmo app and go to settings.
2) Click on Identity Verification.
Now you will be able to use venmo balance instead of card easily.
how does venmo make money :
Now any business that runs over the internet does not charges any amount to be used just like any social media site. Even venmo does not charge any user any money because the reason is your information about for what you send money for , what you buy and all this information is more than enough for them to show ads.
Which makes it pretty simple that data of user who are using venmo is their main source of income.
how to add money to venmo:
Adding money inside the venmo is either 2 way one way is using venmo balance which is added when your friend sends you any money and you have not added your bank account or card to venmo app , hence money just sits inside the venmo balance
Another way is actually adding your bank account or either adding your card from where actual transaction can begin.
how to cancel venmo payment :
Now the payment inside venmo can be cancelled in 1 condition , that if the user to whom you have sent the money is deactivated. below are series of steps to help you out :
1)Click on 3 lines button at the top right
2) Select Incomplete.
3) Move to the payment tabs.
4) Click on takeback.
If you have sent your money to an active account and want the refund back. In that case you can look into these steps:
1) click on Pay & request button at bottom
2) Search that particular contact.
3) Enter the Amount and then click on request button.
In case if user does not pays back kindly contact venmo support for further help.
will venmo refund money if scammed :
Well if you were scammed via venmo then there are few chances you might get refund and there is only one way to get that refund is that is to reach out venmo support and give them exact details so that they can help you further.
Conclusion : Venmo Review 2022
Venmo is changing the view how online transaction of money can be super fast and safe at the same time with wide range of offers and benefits.