Venmo Logo
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347 User Reviews

9.7

Overall Score

Venmo is a popular mobile payment app among millennials, with the average user transferring money to friends and family members several times per week. Venmo is owned and operated by PayPal and has been operational since 2009. The company is growing rapidly and offers its users convenience as well as bank-level security of their financial information.

Receiving funds from another user is free, and money sent via Venmo can easily be transferred into a US Bank account with a few taps. Members may use funds from any linked and confirmed US bank account to send money as well as their debit or credit card.

In addition to easily sending and receiving money, Venmo is an available payment option in select merchant apps and for select merchants through a mobile browser, a practice being made popular by other mobile wallet apps like Apple Pay or Google Pay. To use this feature, a user must opt-in to make purchases.

Keep reading for pros and cons, as well as Venmo reviews to see what people are saying about their experience with Venmo.

 

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The Good

  • Free App
  • Payments and Fees
  • Payment Process
  • Make Purchases
  • Devices

Free App

The Venmo app is free to download on any smartphone or device, and it is free to use. In addition, Venmo is managed by PayPal, providing significant advantages for users. PayPal offers their users a high level of security, similar to the security used by major financial institutions.

Payments and Fees

Venmo offers their users the ability to easily send money to their family and friends up to $299.99 when they first sign up, or up to a weekly rolling limit of $4,999.99 once their identity has been confirmed. Users may use their confirmed and linked US bank accounts to send money to anyone free of charge.

A Venmo user can add any type of credit or debit card to their account for free. Once a card is added, you can set it as your primary payment method in settings, allowing you to control which cards you are using through your Venmo account. In addition, a user can set up a linked bank account, making it easy to move money between a bank account and Venmo account. 

There are no fees for any activity via a debt card, but it is important to note that all money sent via a credit card will incur a 3 percent fee. In addition, there is an automatic transfer fee for transferring money from your Venmo account to your bank account. There are no other Venmo charges or fees to be aware of.

Receiving money and transferring funds to a US bank account is free.

Payment Process

Users may send money to anyone, regardless if they are a current member of Venmo or not. To gain access to sent funds, users must register with the service.

Payments on Venmo are simple, requiring only a few steps to ensure money is being sent to or received by the correct person. In some cases, Venmo will ask you for the last four digits of someone's phone number before completing a payment, thus ensuring a secure transaction.

Payments and transactions are shown on a feed similar to Facebook, showing things people are paying for between their Venmo friends (actual dollar values are not displayed). If you do not want your payments to be seen by other users, there is an option to make a transaction private.

Make Purchases

Not only can you send and receive money from friends and family through Venmo, but you can use it to make online purchases, as well as some retail purchases through the app.

Because Venmo is owned by PayPal, in some online shopping circumstances you can select PayPal as your payment method which will bring up a separate prompt asking if you'd like to complete the transaction through Venmo. This means that online shopping can be even easier, and provides more flexibility in payment methods.

Additionally, Venmo makes it easy to split the cost of any in-app purchases between multiple people. Through its "buy now, split later" service, Venmo remembers the total cost of the purchase and will allow you to split in the next time you open the app. 

Devices

Venmo is available on both iOS and android devices, making it available for anyone.

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The Bad

  • Issues with Service Misuse

Issues with Service Misuse

In fact, there are several reports which surfaced in the latter part of 2015, detailing how savvy scammers are using Venmo to defraud users, most often when the service is misused by sending money to one who is unknown to the payor. Venmo states that it is designed for payments between individuals who know and trust one another, and therefore discourages users from sending money to people they do not know, especially on large purchases like event tickets or websites like Craigslist.

It is important to realize that while the app is secure, there are some problems which one may encounter. Should a user erroneously send funds to someone, they are dependent upon the other party to return the funds. Venmo does not provide much assistance in returning funds in the event of payor error.

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The Bottom Line

Venmo is a great mobile wallet option, making money transfer and mobile payments easy, as well as making purchases either online or in person at certain retailers.

Account set up is quick and easy, and users can be assured that their personal and sensitive information will be protected, as long as they are being careful and mindful of who they are sending money to and receiving money from. In the case of your phone being misplaced or lost, you can easily enter your account through Venmo.com and remove information connected to your phone. Additionally, Venmo stores all data on encrypted servers.

The majority of Venmo customer reviews are positive, highlighting the easy usability of the app and simplicity in communicating with friends and family about transactions. Some complaints include the automatic transfer fee being too high and very difficult customer service.

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Star Rating

4.7

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347 Reviews

Review Breakdown

5 grade

81%

4 grade

13%

3 grade

3%

2 grade

0%

1 grade

3%

Sentiment Criteria

Value

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Quality

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Service

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Trustworthiness

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Dave Spokane, WA

Venmo is great because it is so widely used. I use it with my kids primarily, but I've also used it with vendors and other adults. I don't really care for the social media aspect of Venmo, so I just turn that off and keep everything private. I wish the free version had quicker transfers to and from my bank account, but I guess they have to make their money somehow!

1 month ago

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Taylor Larson Nakhon Sawan, 60

I love Venmo because it's so convenient. I love being able to send money digitally. I don't like how Venmo has asked me for my personal information such as my passport information.

4 weeks ago

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Leonard Leo Potomac, MD

Cash transactions with friends and businesses by using your phone app is commonplace. It's easy and simple. One of the downsides is that I find that almost anyone can see who I transact with, so privacy is a problem with venmo.

2 months ago

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Jade Knowles Tallahassee, FL

I started using venmo in college. I love Venmo, it makes paying things so easy. I shop at a lot of small businesses and Venmo is a very popular among newer businesses. I save my card in the app and I can send and receive money effortlessly.

1 month ago

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Jessica Chen Gaithersburg, MD

I used venmo to send money to a friend for her to buy a t-shirt money transfer went through smoothly and process was easy to keep track of. Money has never gotten lost through venmo and was always received by recipient. I will be using venmo in the future to send payments.

2 months ago

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Caloway Salt Lake City, UT

At first I was a little sketched out when using venmo but it is really convenient and you don't have to pay for anything if you do not want to. There is a section in their terms and policies that say they are not liable if someone hacks your account and steals money from your bank account that it is attached to. There is also no way to get your money back if you send it to the wrong person unless they send it back so use with caution.

5 months ago

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Paula Shearer Omaha, NE

Venmo is very easy to use. I don't really need to see what other people have paid to whom. It'll be interesting to see how it grows.

1 month ago

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Sarah VanLeuven Orem, UT

I use it all the time when I’m selling things online, or slitting checks. Super easy to use and convenient for everyone.

2 weeks ago

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Bethany Rockville, MD

Venmo makes payments between my friends and me easy and fast! The only issue is that it doesn’t give you an option to stop paying. Your friend has to refund you.

2 months ago

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Jason Burt Riverton, UT

My family and I use Venmo for money exchanges almost on a daily basis! The app is fairly easy to get set up and to use. No more splitting checks at restaurants or owing people money until you get cash with Venmo! Don't know what we would do without it!

5 months ago

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Drake Allen Provo, UT

Love how easy it is to split costs for trips and events planned with others that can all be done electronically. The venmo card always comes in clutch when a friend forgets their wallet so they can just transfer money and it goes right to the card you are paying with.

5 months ago

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Erna Valcin Tallahassee, FL

Love how the company made it adaptable for customers to use but do not like how our business of who and why we are sending money for is out for everyone in your contacts to see.

5 months ago

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Anna Davis Pleasant Grove, UT

I really like Venmo it’s quick, straightforward, and easy. The only complaint I would have is that when there is money in your Venmo, they still take it out of your bank account when you pay people.

5 months ago

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Lukaah Marlowe American Fork, UT

Venmo is a great way to pay and receive money. It is a great interface, and is easy to know where I’m going. Many people know about it, so it is easy. One downside is the time it takes to transfer, but it’s not too bad.

5 months ago

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Alexa Cooper Provo, UT

I like it! It’s been so handy lately. I like everything. Except for the social aspect of Venmo. It’s kinda weird that we’d flaunt our sometimes financially irresponsible spending for everyone to see...? But all else is cool!

5 months ago

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Gail Salt Lake City, UT

Venmo is a great app, it is super convenient and helpful. It is especially awesome when you forget your wallet and your friend has to pay for you..no longer are the days of super awkward "I swear I'll pay you back". The only bad thing is I think it's creepy that everyone can see what you're spending money on.

6 months ago

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Bchell Midvale, UT

I use venmo for many things. For the most part I love it. It's easy and fast to exchange money. I had a bad experience with someone trying to use my bank account to open an account and their customer service didn't help me at all. Told me there was nothing they could do to help me. So I like the app but don't like the customer service.

8 months ago

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Amy Barrus Sandy, UT

Venmo is easy to use. However, I wish Venmo would offer an option to allow two household members to be tied to the same account. I always have to call my husband and ask him to pay for things like my haircut. It takes away some of the convenience.

8 months ago

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Ryan Harpenau Fayetteville, AR

Venmo is very easy to use and it very convenient when needing to pay someone back without using cash. I do prefer other apps that aren't attempting to be social media apps where you can see who pays who for what, but it you are into that then it's a great app for you.

8 months ago

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Hannah Denver, CO

I really enjoy the ease of which this service provides for money transfer. The only reason for not gifting it 5 stars is that the automatic transfer fee seems kind of high. However, I really enjoy the creative touches that Venmo allows you to add. However, sometimes I do not want to add a description but it won't let you send without it which I think is annoying.

10 months ago

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Sicely Lyn Russell Chandler, AZ

I love Venmo! It's much easier now to pay people now! The only thing is that it takes forever to show up in my bank account. Other than that it's amazing!

5 months ago

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Emma Simpson West Valley City, UT

Of course, the convenience of Venmo is very nice. It’s so easy to send and receive money. I also really appreciate how easy it is to change my privacy settings since it is an app dealing with money.

6 months ago

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Alissa Flammer Los Angeles, CA

Venmo is really useful and helpful to people everywhere. It makes everything a lot easier when you can just send them money online, especially through Venmo because it is easy and reliable.

8 months ago

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J Salt Lake City, UT

I use Venmo on occasion. I find it odd that they’ve integrated a social-media-esque feature into the app. But, with regards to facilitating easy, person-to-person payments, it’s great!

8 months ago

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Lindsay Ploeger Salt Lake City, UT

I am newer to Venmo (normally my husband has been the one to use it) but, I got one recently and, it really seems to make money transfer so easy to others. It seems much simpler than PayPal with transactions. Though, I was surprised when I couldn’t just transfer funds directly to my husbands Venmo without it being linked to my bank account.

10 months ago

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Jessica Mendez Clarksburg, MD

they are more secure than cashapp but I wish their instant transfer fees weren't so high

2 months ago

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Nicholas Genes Los Angeles, CA

This is a very well used mobile wallet. I like how convenient it is to use and the ability to transfer to account. The only thing I find weird is the public option to view and show transactions.

1 year ago

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Yolanda Briganti Riverton, UT

Venmo is so easy to use. It notifies me when any transaction is made. I can communicate with the other party easily. I just wish they could be used for non profit organizations.

10 months ago

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Lauren Law Rexburg, ID

I use Venmo ALL THE TIME. I love it, I love the convenience of not having to use cash or having to pay someone back in the future, you do it right then and there. I don’t like the .25 cent fee, but it is pretty low for other money sharing apps and services! Highly recommend!

3 years ago

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Theodore Niemann Boulder, CO

Venmo is such an easy way to share money. No longer do I have to remember if someone owes me money, but I can just ask them to send me money on Venmo.

1 year ago

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Mark Park City, UT

I like the convenience of using Venmo. I wish the transfer to my bank account was quicker (without having to pay a fee), like Zelle, which is the same day.

8 months ago

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Dre35 West Valley City, UT

Awesome app! Great way to pay. I just wish it wasn't so social. I wish I could hide the world activity display, and frankly the activity of my Facebook friends.

10 months ago

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JP Herriman, UT

Venmo has made it really easy to pay certain people instead of other forms of payment. It is easy to use and I feel that it is a safe way to transfer money.

10 months ago

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Sarah Fairfax, VA

A fairly simple way to exchange money! Takes a bit of time to get set up (linking your bank account) but once it is you are ready to go! I'm glad people can post pictures so that you know you are paying the correct person!

2 years ago

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Hannah Cummins Gilbert, AZ

Venmo is extremely easy to use but I don't​ like how it takes an extra business day to transfer funds to your normal bank account. I would rather use a service that is quicker with no fees.

2 years ago

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Rob Whipple Mesa, AZ

Easy to use. I don't like that it has a social media component to it that allows other users to see my transactions. I just have to remember to make all transactions private. Then it works great.

3 years ago

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Jaron Thorley Orem, UT

I’ve used many of the different cash transfer apps but I’ve found Venmo to be the simplest and easiest to use.

6 months ago

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Mason Allen Provo, UT

The easiest way to send and receive money. Great for small business transactions or "garage sale" type exchanges.

6 months ago

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Maverick Denhalter Salt Lake City, UT

I don’t quite like them as much as Zelle, but a lot of people use them and they’re easy to work with.

8 months ago

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Grayden Larson Riverton, UT

Are use Venmo quite often because of how convenient and user friendly it is. The recent upgrades have really improved the quality of the app.

10 months ago

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Eridee Vance Lehi, UT

It was a little hard to set up for this old person, but what a great way to exchange money with family and co-workers. Well worth the time to get it going!

3 years ago

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Jannis Ly San Antonio, TX

Venmo is very easy to use. I have been using Venmo for years and never had an issue.

7 months ago

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Lori Cornia Hayward, CA

Venmo is easy to use, almost everyone is familiar with it, making it user friendly and efficient.

8 months ago

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Cohen Olson Smithfield, UT

I like Venmo because it’s easy to pay back friends or family or receive money🤑!!!

8 months ago

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Spencer Hodgson Salt Lake City, UT

I love the convenience of Venmo. What I don't like is it takes way longer to transfer money from Venmo to your bank account than normal transactions.

3 years ago

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JRosa Lehi, UT

Venmo has made splitting checks, utility bills, etc, such a breeze!

3 years ago

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