App of the week for college students: Venmo

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App of the week for college students: Venmo

Shannon Macalingay, LifeStyle Editor

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Whether paying a friend back for when they covered a meal or charging someone for bills, Venmo is an essential app for college students.

Similar to PayPal, Venmo can be used to send, request and receive money from other people. However, the unique part to it is it’s social feed where payments can be shared and liked amongst friends and other users.

To set up an account in the app, users can either directly link their bank account, debit or credit card. The settings can be programmed as well so that payments or purchases don’t have to be displayed publicly.

Depending on the bank, transferring money from Venmo to a bank account takes around one to three business days with no fee. However, for instant transfers, there is a 1% fee (minimum charge being $0.25 and a maximum of $10) taken from the amount that is being transferred. Typically, it arrives within 30 minutes.

As Venmo becomes increasingly popular, many shopping websites allow customers to make purchases through the app. In addition, there is an option of attaining a Venmo card that can be used like a debit card. When used, money will be deducted from user’s account balance.

When sending money or charging a friend, users can customize the title of the payment. From emojis to fun word plays, paying or charging someone has become another source of entertainment. With this creative tool, looking through the feed can spark enjoyment and laughter out of students as well.

Email Shannon at [email protected]

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