How to Request & Receive Payments on Venmo: 2 Easy Ways (2024)

FAQs

How to Request & Receive Payments on Venmo: 2 Easy Ways? ›

You can set separate preferred payment methods for paying friends, online purchases from authorized merchants, and Venmo Debit Card reloads. You can manage your payment methods, including selecting preferred payment methods, in the Payment Methods section of your Venmo account settings.

You can set separate preferred payment methods for paying friends, online purchases from authorized merchants, and Venmo Debit Card reloads. You can manage your payment methods, including selecting preferred payment methods, in the Payment Methods section of your Venmo account settings.

If you're friends with someone on Venmo, you simply select that person's name, tap whether you'd like to pay or request money, enter an amount of money, and enter what the payment is for. For more help with paying and requesting money, see Venmo's related help page.

How does Venmo work when someone pays you? The person paying you will either send you money using your Venmo username, QR code, phone number, or email. Once the funds are released, you'll need to accept them before they go into your Venmo account.

Whenever you receive a payment on Venmo, that money is put into your Venmo account. You'll need to initiate a bank transfer to send the funds to your bank account. You can send the money in your Venmo account to your bank using the Standard or Instant method.

Many retailers will not allow you to split your transactions across different credit or debit cards. That's because splitting cards for a single transaction can be difficult because of verification or technical issues, making it difficult to process the payment.

Venmo is a free, easy-to-use service, simply sign up for an account and link your bank, debit or credit account. Notably however, there is a 3% fee for sending money using a linked credit card. You can even trade select cryptocurrencies using Venmo as well.

Try a two-pronged approach when asking for money.

“Follow up with them and say, 'I'm sending you a request via the app, then send the request.” Abbott agrees with the two-step approach when dealing with a friend or colleague who hasn't paid you back.

It's free to send and receive money using what's in your Venmo account or bank account. *Venmo does not charge for sending money from a linked bank account, debit card, or your Venmo account. There is a 3% fee for sending money using a linked credit card.

Common causes of declined payments include insufficient funds in your bank account, incorrect recipient information, setting payment limits too low, and detecting potential fraudulent activity. Venmo customer support may also need to manually review declined payments before releasing the funds.

How do I request money from someone on Venmo? ›

You must have a Venmo account to send and receive money from another user. To request money, tap "Pay/Request". Tap a user and enter an amount and description. Tap "Request".

Potential scams and hackers.

The biggest downside to using Venmo is the potential for your money to be stolen. If a hacker gains access to your Venmo, it's pretty easy to change the associated bank account – so the hacker could change the account to their own and transfer the money in your Venmo to their bank.

While you don't have to be friends with someone on Venmo to pay them, it helps ensure that your payments are going to the right place (and helps your friends find you)!

You can't split payments between your Venmo balance and another payment method. You'll need to pay in full using either method, but not both. When paying another user, tap "Pay/Request". Find the recipient, then enter the amount you want to send.

If you share ownership of a bank account or debit card with another Venmo user, you may both be able to use the payment method on Venmo. (Please note that the payment method can only be linked to two Venmo accounts at a time, so any additional users who attempt to add it will be declined.)