Zift Advisory
Venmo is a cash transfer app, similar to Cash App or PayPal, that simplifies sending and receiving funds. Venmo is available in both the App Store and the Google Play Store. It is rated for users of all ages and there are no additional in-app purchases or advertisements. This app is not safe for kids.
What is Venmo?
Venmo is a cash transfer app, similar to Cash App or PayPal, that simplifies sending and receiving funds. This is a sophisticated and easy to use mobile payment option, allowing people to send and receive funds wherever they are.
Venmo is available for both iOS and Android devices. It is rated for users of all ages and there are no additional in-app purchases or advertisements. Be aware though that this app is made for transferring or receiving money.
Venmo offers users free transactions when using their Venmo account balance, a prepaid gift card, bank account or debit card. Users who want to use a credit card for payments are charged a transaction fee.
To pay or charge someone, the transaction initiator must have the other user’s username, phone number, email address or Twitter handle to send or receive funds.
After registering an account, users can begin a transaction by specifing if they would like to Pay someone or Request a payment. Users then enter the amount and a short memo notation.
Once sent, both parties receive confirmation of the transaction. Should a data breach occur, Venmo only holds users liable for $50 of their losses, as long as the fraud is reported within two days of it occurring.
Is Venmo safe for my kids?
Venmo is not safe for kids, the app requires users to be 18 years or older.
Should parents allow their children to use the Venmo app (or find that they’ve somehow created an account), they should know that Venmo makes it incredibly easy to transfer and receive funds via mobile device.
Venmo is typically safe to use, the app uses bank-level security and data encryption to protect against unauthorized transactions. Many parents may be uncomfortable with their child being able to easily access their bank account or funds, and just as easily send payments directly from their phones to friends.
However, Venmo can be a great tool for responsible teens, especially as so few carry cash with them. They can pay a friend for their half of a restaurant check, or send over funds to pay for a movie ticket or reservations for a group trip. The Venmo app is definitely convenient, but it takes a responsible teen to be able to use.
App Screens
Related Apps
Recommended for You
9 Screen Time Rules Every Family Needs
Screen Time Strategies
Stop Guessing About Screen Time for Kids – Use This Chart
Screen Time Strategies