Venmo review

Venmo Review


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Currently, Venmo has over 85 million registered users in the United States.

It’s undoubtedly one of the most popular cash apps, but not everyone is happy with the service.

Read our Venmo review to learn more about why so many people use Venmo for transferring money, and why so many rate it 1-star, as we look at the pros and cons, safety, fees, and real customer reviews.

What is Venmo, and how is it Different?

Since its founding in 2009, Venmo has supported fast, safe, and social payments between peers. 

Twelve years later, and with 83+ million users, the app has added a range of useful features. Now, you can use Venmo to:

  • Send and receive money with your phone number or email using your debit/credit card or U.S. bank as your payment method. 
  • Deposit and withdraw money from your bank account
  • Make purchases using a Venmo debit/credit card
  • Make payments using QR codes in stores or any authorized mobile website/partner apps

Venmo allows users to connect with businesses and brands more interactively. You can also use Venmo to share, connect, and split bills with your friends. 

The mobile app is more than a peer-to-peer payment platform. It’s also a mobile hub that you can use to handle and manage your money. You can make direct deposits to your Venmo debit and credit cards whilst having the flexibility and control needed to manage your finances. 

Pros and Cons of Venmo

  • Fast, secure, and convenient payments;
  • Offers a credit and debit card;
  • Free to transfer money from a debit card or a bank account;
  • Low payment fees for credit card users;
  • Available for both Android and iOS users.
  • Users cannot cancel payment transactions once initiated;
  • No buyer & seller protection program;
  • It doesn’t support international transactions.

Who is Venmo for?

Venmo’s app is designed for users who want a fast, secure, and convenient method of sending money to their friends and family. According to Pew Research Center, more than half of 18-29-year-olds use Venmo for daily transactions like money transfers and splitting bills.

In addition to being a payment app, Venmo is a network where users can view their friends’ transactions and comment on them. The social element creates an interactive and fun element to sending and receiving payments. 

You can also connect your debit card or bank account to your Venmo account, making it easy to transfer money with just a few clicks. Venmo is also exclusively for people based in the US. 

See our article Cash Apps That Don’t Charge A Fee.

How Does Venmo Work?

Venmo is only available for Android and iOS users. Unfortunately, you cannot access its services via a web browser. To access Venmo services, you must be located in the U.S., have a legitimate U.S. phone number, and be over 18 years old. 

Your mobile phone must also support the latest version of the app.

Here’s how to register and send money using Venmo. 

  1. Download the Venmo app from the Google Play Store or Apple Store.
  2. To create your Venmo account, you’ll be required to provide a valid email address and phone number for verification purposes. You’ll also need to add and verify your bank details. 
  3. Once your account is set up, you can tap the Pay or Request buttons at the bottom to send or receive money. 
  4. Search or add the contact you want to transfer money with.
  5. Enter the amount with the option of leaving the recipient a note. 
  6. Tap Pay or Request to complete the transaction.
  7. The recipient will receive the money or your request for them to send you money. 

Please note that if you wish to send money to multiple contacts, you must add everyone as your recipient before completing the transaction. Venmo also requires users to verify new contacts before completing the transaction to reduce the risk of sending money to the wrong person. 

See our article Does Venmo Work Internationally?

Is Venmo Safe and Legit?

Venmo is owned by PayPal, a licensed international money transfer service provider that has built a reputation in the online payment industry. 

All of your financial information remains hidden, and it’s never shared with third parties. Here are the top three Venmo features that keep your information and transactions safe:

  • Secure login – Venmo has a secure login policy that keeps user data and money safe, even if they lose their phone. Aside from the standard login password, users can create a PIN or biometric-based passcode for their accounts for added security. 
  • Payment privacy – you can choose whether you want other users to see your payment notes. Venmo’s privacy settings allow users to control who can see their activity in the mobile app. 
  • Payment verification – if you’re making payments to someone new, you will be required to verify their number or email address. If you want to send money to your friends, you can add them to your contacts as Venmo friends before initiating the transaction. This way, you can be guaranteed that you are sending money to the right person.

What are Venmo’s Fees?

Venmo doesn’t charge its users for signing up with an account. It also doesn’t charge fees when transferring money. However, there are Venmo fees when using their credit cards, check-cashing features, and cryptocurrency investments. 

A breakdown of Venmo fees: 

  • A 3% fee is charged for using your credit card to transfer money to another person
  • A 5% fee is charged for using the check-cashing feature for quick deposits on non-government and non-payroll checks
  • A 1% fee is charged for using the check-cashing feature for quick deposits of government and payroll checks
  • Venmo doesn’t charge a fee when holding cryptocurrency balances. However, you will be charged a fee when buying and selling cryptocurrency using Venmo. You’re always provided with the exact fee before confirming cryptocurrency transactions. 

Venmo Customer Reviews

Venmo is rated 4.2/5 on the Google Play Store, 4.9/5 on the Apple store, and 1.2/5 on Trustpilot. The main complaints from customers are about Venmo’s poor customer service. 

The lack of a buyer or seller payment protection program is also a downside that makes users wary about buying or selling things online using Venmo. 

The positive reviews are attributed to the platform’s ease of use and security. Customers also like how convenient it is to use Venmo to split bills and pay family/friends quickly. The social element of the app has also contributed to the app’s positive reviews. 

Venmo Alternatives

Users outside of the US may want to consider the Venmo alternatives below:

  • Zelle Allows users to send and receive money quickly and safely. Zelle is free to use and can be accessed from 1,000+ banking apps. Like Venmo, Zelle supports same-day transfers, and users can transfer money to recipients from other banks, as long as they have a Zelle account. 
  • Cash AppThis is a free mobile payment gateway that supports peer-to-peer payments. The platform has a debit card, which allows users to make in-store and online purchases. Cash App can also be used to buy and sell cryptocurrency.
  • PayPal PayPal is another popular alternative to Venmo, despite being its parent company. In addition to being a secure and convenient way of sending money to family and friends, PayPal is also a popular checkout option for online merchants. It also supports international money transfers, unlike Venmo, which is only available in the United States. It also has a buyer and seller protection program which is a huge advantage. 

See our article Cash Apps like Venmo.


Venmo presents its users with one of the easiest and most secure options for sending and receiving money via mobile phones. The platform’s security credentials have been boosted by the fact that it’s owned by PayPal, a major international money transfer service. This makes Venmo a great way to make payments for a service offered or send money to your friends and family. 

However, many users have mentioned that Venmo’s customer support team is disappointing. This can leave you in a difficult place if you experience bugs or problems with transactions. There’s also no buyer and seller protection program which can make online shopping risky. 


How does Venmo work?

Venmo allows users to transfer money to friends, family, and other people they trust. Users can link their bank accounts, and credit or debit cards to their Venmo accounts and use the platform to make fast and secure payments. 

 Is Venmo Secure?

Yes. The platform uses PayPal’s encryption technology to protect user data from unauthorized access. Users can also set up biometrics and PIN codes for additional security. 

What should I do if I send money to the wrong person?

You should contact Venmo customer service as soon as possible. Whilst the customer service from Venmo isn’t their strongest feature, most users find that they’re able to receive their money back. 

Can I link my Venmo account to my PayPal account to transfer money between the two accounts?

No. Venmo doesn’t allow users to transfer money with PayPal. 

Why is my transaction listed as ‘Pending’ or ‘Incomplete’?

This is likely because you sent money to a contact who is not a registered Venmo user. Be sure to contact the customer support team to receive help. 


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