How Safe Is Venmo, and Is It Free?
Venmo is a free peer-to-peer (P2P) payment app available for iPhones and Android phones.
It’s also free to use Venmo to pay participating merchants, who now number in the millions.
Some other Venmo services carry a fee, however. Payments that go through a credit card account rather than a linked bank account or the user’s Venmo account incur a 3% fee. There are other miscellaneous fees for transferring money instantly from Venmo to a bank and for depositing checks.
Venmo also issues a debit card and a credit card, both of which are accepted by a growing list of local and national retailers. Those products also carry fees. You must be 18 or older to have a Venmo account.
Find out how Venmo works.