Venmo


#1

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


#2

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.


#3

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.


#4

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?


#5

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.


#6

Never heard of it until your post :confused:


#7

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.


#8

Is it similar to Square?


#9

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).


#10

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.