Unless you change the settings, your transactions are visible to the public, as well as your friends on the platform. Venmo is somewhat unique in that it’s also a social platform. Some businesses even choose to use Venmo to make payments to freelance employees. You can also use Venmo to pay for goods and services from some online retailers as well as to make in-app purchases in some online apps. Instead of finding the exact change to pay your friend back for dinner or stiffing him/her, for example, you can simply Venmo him/her the exact amount. You can use Venmo to send and accept payments to or from other people online. Just link the app to a debit card and spend away. No credit card, no wallet, no fees and no nagging for unpaid drinks required. It’s a mobile app that enables sending money easily among friends. Venmo is a type of peer-to-peer payment platform. What is Venmo?Įven if you’re not familiar with this platform, you’re likely familiar with platforms like it including Square Cash If you’re a Venmo user, here’s what you need to know about Venmo and Venmo charges.

See: Venmo takes losses after payments fraud This lets you protect yourself and can save you money. And while Venmo might seem free at first glance, there are many little Venmo charges you could be paying without even realizing it.Īnytime you use a financial platform, it’s important to know what the possible charges and risks involved are. But users - and you, whether you’re a user or not - may not thoroughly understand the platform.

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