Is anyone using Venmo to accept payments? If so how do you like it?


I take Venmo and PayPal. They both work well. You can transfer the money to your bank account overnight with no fee. You can also send the money immediately to a debit card for .25 fee.


I did a house last week and the owner asked if I use Venmo. Never heard of it until then, but will check it out.


Does the payment with Venmo show up in your bank account as invoice total minus the fees? For example if invoice is $100, is the deposit amount $97? Just using a 3% fee as an example.
Or is $100 deposited with a $3 fee charged separately?


I hadn’t heard of it either until a customer asked the other day. I’m interested if it’s something more people are starting to use. Also from what I’ve seen there’s a social aspect to it where people can choose to let others know they just used your service.


Never heard of it until your post :confused:


I’ve had a account personally which friends family can reimburse me immediately when we do group purchases or borrow money whatever.

Been using it for a few months really didn’t think of it for business use till now.


Is it similar to Square?


There is no fee if you decide to deposit it over night into your bank account (deposit will show $100). If you want the money immediately credited to your debit card then there is a .25 fee (deposit will show as $99.75).


I have to pass on 99% of online payment methods.

Apple Pay / Venmo / Samsung Pay / Coinbase / PayPal etc… just more things for me to set up and keep track of.

They all originate from credit and debit card transactions anyway.