Hi Friends! Now a days struggling to split restaurant checks and utility bills, scrounging for change in your car, and desperately searching for an ATM are gone forever thanks to Venmo. Opened to the public in March 2012, and available for both iPhone and Android, this free app allows you to send money for free and cash out your balance to your bank account over a 256-bit encrypted connection.It's easy, safe and can even make you a little bit of cash if you don't mind harassing your friends. Here's how to get started.
HERE SOME PROCESS TO USING VENMO:
OPEN YOU"R ACCOUNT:
You can either connect your Facebook to your Venmo account, or sign up with your name, email address and number.
Once you do, it will ask you to verify your phone, which will bring up a text window. After you send the text, you'll be able to connect your credit or debit card. You can also connect your bank account if you want to deposit the balance you accrue, but it isn't required.Then, Venmo will allow you to connect with contacts who've already downloaded the app, and you can invite your friends to join. This is where you can make money if you're willing to inundate a few friends with invitations.If a friend you invited to join Venmo downloads the app, you'll get a notification. Once she makes her first transaction, you'll receive five dollars credited toward your Venmo balance. There's no limitation to what you can do with that money.
Sending and receiving money on Venmo is fairly straightforward. In the top-right corner of your screen, you'll find a pen and paper icon. Tap it to pull up the payment and request form, and fill out the amount and details as necessary. A sliding button at the top of the screen will allow you to choose between a payment and a charge.You can also send a group of people a charge or payment, if it's for the same amount of money. This is perfect for situations like evenly splitting the cost of a check among a group of people at the restaurant, or if you made and lost the same bet with a few different people.One word of caution: You'll have to input your own decimals, so if you want to send someone a $15.25 payment, make sure you type 1-5-.-2-5, or else $1,525 might be charged to your card if your friend is desperate or shady enough to accept it.Whether you receive a payment or a charge, you will have to approve any transaction sent your way. Venmo will not deposit money into your balance, nor withdraw money from your balance or charge your credit card without your approval. If someone who owes you money is slow to pay you back, you can send a reminder to spur some action.
Along with its simple payment and request system, Venmo connects users to a mini-social network built around the app's transactions. From the app's homescreen, you'll be able to scroll through three continuously updating tickers of charges: one of charges happening near you, one of charges your friends made and one of all of your charges.The amount of money exchanged will be hidden, but you'll be able to see the memo attached to the payment and to whom the payment was sent.
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