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Venmo is a great way to pay people, get paid, grow a business, and more. Learn more about Venmo.
What is Venmo for?
Venmo allows you to pay and request money from your friends. At its core, Venmo provides a social way to pay your friends when you owe them money and don't want to deal with cash. For example:
- Splitting a lunch bill
- Paying your friend half of a cab fare
- Sending your roommate your half of the rent
You can find out more information here.
Venmo can also be used to make purchases with authorized merchants. For example:
- Using the Venmo Mastercard Debit Card anywhere in the U.S. where Mastercard is accepted
- Using Venmo as a payment method in authorized partner apps or mobile websites
- Using in-store QR codes to complete purchases with Venmo
- Buying something from a Venmo Business Profile
- Tagging a Venmo payment as a purchase in the Venmo app
Venmo should not otherwise be used to make or accept payments for goods and services with people you don’t know (for example, concert tickets, electronic equipment, sneakers, a watch, or other merchandise, deposits for apartments, or dog walking). Learn more about using Venmo to buy or sell merchandise, goods, or services.
Venmo balance
A more detailed explanation of how to access and use a Venmo balance can be found here.
Payment methods
When setting up your Venmo account, one of the first things you do is decide how you want to pay people, also known as setting your payment method. In Venmo, you can pay people from any of the following:
- Your Venmo balance (if you have access to a Venmo balance)
- A credit/debit card (imagine being able to pay a friend directly from your credit card)
- A U.S. bank account
For more info on how to add funding sources, please see our articles about adding bank accounts and adding cards to your Venmo account.
Learn more about fees on Venmo.
Bank transfers
You can transfer money from your Venmo account to your bank after connecting your bank account to Venmo. Bank transfers submitted before 7 PM ET will typically be available in your bank account the next business day, excluding weekends and bank holidays. Transfers are reviewed which may result in delays or funds being frozen or removed from your Venmo account. Learn more about bank transfer timelines.
Venmo should not be used to transfer money between your own bank accounts. Venmo is designed to be a peer-to-peer payments app that you can use to pay friends, local businesses, charities, and more.
If you need to transfer your money between your bank accounts, please work with your bank and utilize their ACH or wire transfer services.
I am not a Venmo user and I’m seeing an unauthorized charge on my bank or card statement.
If you see Venmo on your bank or card statement, please verify that no one else has authorized access to your credit card or bank account. For example, we often see family members who use their parent or spouse's card on Venmo. For more information, visit this article.
If you still have questions regarding Venmo transactions appearing on your card or bank statements, or if you wish to dispute such transactions, please contact your bank or card company directly.
