One of my kids has asked me to get this app to facilitate a monthly payment to me. I checked the old CC thread (from 2015) but it’s closed. Since it’s 3 years old, I’m wondering if there are CC’ers who’ve had more experience with it. It seems all of kids’ generation uses it and, apparently, problem-free. Shared dinner checks would be big hassle for them without Venmo! Thoughts?
No way. Venmo is looking into becoming a social media platform for payments. No way I am linking my bank account to any social media… We use Zelle - all major banks use it.
Our D has been using it, even to pay her rent. She’s happy with it. I’m still using checks and paying by phone calls which get converted to electronic checks.
D says you can set privacy settings, which she does so no sharing of her financial info.
Been using it for a few years without any trouble.Kids use it too. Works great. And there’s no need to link anything to any social media.
I use it with my kids. No problems whatsoever. No link to social media, either.
I use Zelle
FYI - Venmo bills itself as “social media.” My bank account is off limits to social media of any kind.
I haven’t seen them billing themselves as social media, but rather as a “digital wallet.” (I believe you when you say that, though.) They are owned by PayPal. You can set everything to “private” so nobody can see your transactions. I can see it as sort of a social media platform if you don’t do that, because other people with whom you are connected can see who you paid, and for what purpose, if you input that data and allow that type of sharing.
I have used it for 2+ years to send money to my kids. It has worked very well for us.
Both Zelle and Venmo have issues. Do a google search on “problem with …” and you will get articles outlining issues with both of these services. With Venmo I have my account set to private so no one can see my transfers. Additionally I have my account set to two factor authentication, which means I have to log into their app and enter a code they send to my cell number via text to log into my account.
I don’t use any apps. I do transfers directly from the bank account and always print screen for confirmation numbers.
Speaking of social network…
I typically do transfers to the kids’ bank accounts as well, but this came in very handy last year when D was in London and lost her bank card. I could venmo $ to her and she could then have friends buy what she needed until the new card came.
I use Venmo. Mostly for the tennis team I am on. I send my captain my league fees, or other things. We have had two gals on our team lose their mothers this month and it was an incredibly easy way to collect money to send flowers.
I use Venmo (I’m 52) and wish more of my peers did as well. I’ve never had any problems. What does surprise me is how many people don’t know or don’t care about the privacy settings to limit what gets displayed about the payments you make and receive. You can default all transactions to private or you can set individual transactions to private. I feel like a Peeping Tom scrolling through my Venmo “feed”.
I share a phone account with my sister, my kid and her kids. I’ve used Venmo for at least 2 years and haven’t had any problems. I’ve used PayPal since it started as a way to pay on eBay a long time ago.
Like Uber and many new ways to do things, I’m trying to change with the times.
I use Venmo with family and friends. We’ve used it for two or three years with no issue. As @adigel mentioned we just use private as our default mode and all is good.
I use it all the time. I even had an award grant venmo’ed to me. You do NOT need to link social media.
Once again, Venmo itself is “social media.” Amazing how folks just don’t get it. It means your transactions can and will be shared with anyone willing to pay for that data. As far as changing privacy settings go, well, ask Facebook and Google. Sure it is safe and convenient… just don’t fool yourself that upping privacy makes the transactions and your bank account invisible to third parties.
You can link it to a specific low value bank account if that helps put your mind at ease. Like you would have done with paypal.
^^Exactly. And don’t use it to pay for anything that’s none of others’ business. Like ordering medical tests or paying for medication… And read the fine print regarding data use.
Private. Put your transactions on private and no one sees them other than you.