Venmo

Avantages

It is so easy to make payments it's insane. This little app can do anything from splitting checks to invoicing freelance jobs.

Inconvénients

There isn't much I don't like about Venmo. The social side of it is okay and I don't care much about that part since I like to keep my payments private.

Avantages

This is probably the easiest and most user friendly money transferring app that I have used.
Venmo charges the user a very small percentage to do an instant transfer and there are no fees to do a transfer that takes 1-3 business days.
If you are out for drinks and decide to put the bill on one person's card, you can easily send them money to cover your portion and they'll have it before the check even comes.
If you need your money transferred to your bank immediately, you can have it within less than 3 minutes.
Another pro is that nearly everyone has it on their phones these days and that keeps things simple.

Inconvénients

It does keep track of your payments, received and sent; however, I feel that the use of venmo in a business is highly unprofessional and it can be a negative to the recipient. If a business owner or worker receives money for goods or services, they are charged a fee. While this fee percentage is very small, if you charge more than $100.00 for whatever your business provides, you're charged a fee and that adds up.
For example, I sent money for $1,400.00 and received a very nasty email from the recipient saying that they were charged $14.00 just to pull the money.
This is only with instant transfer, as I said, but it is something to be remembered for business owners.

Avantages

The user base is pervasive. Too many customers had Venmo, and not PayPal (but not both like me).
No problems with the interface.

Inconvénients

Main problem being the company's communications regarding my dispute of a via Venmo purchase:

>>Your account is on hold.
There wasn't enough money in your bank account for some payments you made, so Venmo covered the amount for you.

You won't be able to pay people or transfer money to your bank account until you pay Venmo back.

Pay Venmo back
Amount you still owe
$35.00<<o recourse to dispute or contend the charge because Venmo handled the transaction but refused to it when the didn't go through and I canceled the payment.o one to speak to, no one to contact, robot menus that cover all options except the reason you're calling, call centers with employees with no powers to do anything about a problem without asking their supervisor.

This usually involves another long wait on hold and transfer to someone who must be explained the issue all over again from scratch. I estimate that I have had to explain my sometimes simple issue over and over 4 times. Because no one can be bothered to brief the person you're transferring the call to!

To me this reeks of bad management bad training and a faulty power sructure.

Avantages

I like how easy Venmo is to operate and use, how much the developers put into users' sensitive data safety, fraud protection and guaranteed timely and prompt transactions. It's easy to use and fairly priced, perfect for a small business in our trying times.

Inconvénients

I would like to see a credit line or other similar products available from Venmo. I would also like to have an opportunity of shared savings account and other banking products from this company.

Avantages

I remember when this app first came out and was a bit skeptical of it but now I can't live without it. Its soooo much easier to pay family and friends with this app as opposed to worrying about carrying cash around. I also was able to teach my girlfriends dad how to link his bank account to it and it took no time at all. As a man who isn't very "tech savy" he couldn't believe how easy it was to send and receive money once we set it up for him.

Inconvénients

Sometimes there are issues with linking the bank account with the app but I cant say for sure thats on Venmo. That might be a bank security issue. We temporarily ran into it with Wells Fargo but after trying a second time we were able to connect.