Anyone using Venmo?

[AlexTG]

Just wondering.

My friends asked me to start using it so they could pay me the rent and utilities through it. ( I handle the bills)

Its super easy and fast to use but may lack some of the security that a realcenter would desire. Payment is immediate and transfer to your bank takes one business day. Free to use all the time, they make their money the way visa makes theirs, when you make purchases from stores.

The App was created by PayPal.

[everything]

Shouldn't be a problem, maybe. I stay away with all this crap and just keep my life simple. I use a credit card (hated them for the longest), now because I'm amassing cash back savings. A friend laughed at me the other day for writing a check, he said they can copy your signature.

My guess .. ? People are to lazy to go to the bank to get cash out or write a check.

I know in economies like China that are fast paced and money is rolling fast, they use this kind of thing for takeout orders, food deliveries, probably all kinds of stuff, now I see these new smartphones have our credit card built into it somehow. I'm going to get behind in all this technology stuff eventually. Still, I was looking at credit card scanners for smartphones, amazed at how big of a cut they take, everyone wants a cut, everyone. The thing with all these vendors who offer a service for free, how else they going to get customers, they find ways to make money, they always do.

http://time.com/money/4036511/venmo-mor ... than-cash/

I don't know..

http://www.nextadvisor.com/blog/2016/01 ... fe-to-use/

[Dr. Cadmium]

It's free to use now, but since it was made by PayPal you can bet it won't stay free for long. And read the fine print of the user agreement. Any funds in your PayPal account or any accounts or cards connected to it are subject to being frozen at any time for any reason. I'm sure this program has similar rules.

A quote from this article about Venmo: http://www.dukechronicle.com/article/20 ... rise-venmo

"A unique aspect of Venmo’s money-sharing service is its social news feed, whereby people can see what friends and other students are paying for and to whom"

Um, no thanks!

Your friends could just as easily pay you cash. That's how I pay my friends, and how they pay me! Or, if you use the same bank you can usually do direct account transfers for free.

I haven't owned a checkbook for almost a decade, and my business doesn't have one either. In the rare case I need a paper check, I can get a bank check at no charge or pay a small fee to get a Postal Money Order.

[JobIII]

So I like it a lot. I use it all the time. essentially it's a hipper form of paypal or bank-to-bank payment option.

One thing that's interesting: it rejects payment if you say it's for poker.

~JobIII

[Rastatodd]

I love Google Wallet. Transactions are easy to complete. When receiving funds, deposits are made into your account almost immediately.