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What are the disadvantages of Venmo

However, Venmo does facilitate returns and offer free one-to-three-day transfers.
If your bank is not connected, it is possible to still receive payments through Zelle and transfer your money to an eligible debit card.
It is very important note, though, that you are the best protection for your finances.

There’s totally free if the cash comes from your bank account or Venmo balance, but 3% for charge card transactions makes it essential never to spend too much using one purchase.
The Venmo app was built for peer-to-peer payments, i.e. for sending and receiving money between family and friends.

  • PayPal charges a 1% fee for payroll and government checks with a pre-printed signature and 5% for all other checks ($5 minimum fee per check).

You may split up transactions on Venmo and make payments from your own Venmo account to repay your balance.
This is the difficult question to answer because it depends on several factors.
However, generally, PayPal may be considered slightly safer than Venmo simply because it has been around longer and is way better established.
That said, both platforms are generally considered to be quite safe for some users to receive and send money.