App of the Week – Venmo
Published on January 13, 2016
Thanks to Venmo, your friends can never say they forgot their wallet.
Venmo lets you easily send and receive cash from friends. It enables users to make direct bank transfers or card payments to one another using a simple mobile app - regardless of who they bank with.
Venmo gives you two options when transferring money. You can connect your credit card (for which Venmo charges a small 3% fee on every transaction), or you can add a bank account (or debit card) and send money for free.
The process for transferring funds through Venmo is simple. Find your friends using their username, phone number, e-mail address, or even Twitter handle and specify the amount you wish to pay or charge. You even have the option of writing a brief note describing the transfer, like a memo on a paper check, and click send. Bingo Bango.