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Send money with Venmo

In this guide we run through how to use Venmo, a digital wallet and financial services app, to send money. As a fast, free and easy way to move funds around, this mobile money app is a popular US-based payment platform, and we outline how to utilise its money transfer functions. 

Updated: 19/07/2021
Read time: 4 minutes
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What is Venmo?

Venmo is an American mobile payment service which functions primarily as a digital wallet. Founded in 2009, before being acquired by PayPal in 2013, the Venmo app mimics familiar social media features and facilitates convenient payment functions, such as peer-to-peer (also known as P2P) money transfers and in-store purchases. After over a decade in the industry, the company continues to prioritise their core objective: simplifying the process of sending and receiving money between friends and family. This means instant payments and transfers to friends is relatively easy.

The Venmo app is free to download and available for both iPhone and Android. All associated transaction fees and rates are displayed for review ahead of setting up an account. If you are happy with the fees as well as the app’s terms and conditions, you can create an account within minutes.

How does Venmo compare to other P2P apps?

In this comparison, we pit Venmo against Zelle, another mobile payment provider popular within the U.S. Find out how Venmo fares against one of it’s biggest competitors…

How do you add money to your Venmo balance?

You can connect your bank account to your Venmo account to add funds to your balance. Adding money from your bank account to your Venmo account can take 2 – 3 working days, the estimated arrival date is presented before you submit the transfer.

Alternatively, any funds you receive via Venmo from friends and family can remain in your account, acting as an account balance to draw from.

Who can you send money to with Venmo?

Venmo is designed to predominately serve the purpose of streamlining and simplifying peer-to-peer payments. The company emphasises the importance of knowing the person you are sending your money to. This is because, unlike other money transfer apps, Venmo is best suited to casual payments among acquaintances. 

On their website, Venmo offers the following examples of suitable scenarios to send money using Venmo:

  • Paying your friend half of a cab fare
  • Splitting a lunch bill
  • Sending your roommate your half of the rent

Can I make international money transfers with Venmo?

Venmo is popular with customers who wish to send money to other people in the USA but unfortunately the app does not support international money transfers. 

If international money transfers are what you’re looking for, we’ve got a guide for that: Best Ways to Wire Money Internationally

How long does it take to send money with Venmo?

If you have pre existing or pre loaded funds in your Venmo account, payments can be made instantly. If you are sending money using an external payment method – bank account or card –  the funds can take between 2 to 3 days to be deposited into your payee’s account. 

How much does it cost to send money with Venmo?

The Venmo app is free to download and use. Any fees associated with Venmo’s money transfer services are listed in full on this webpage.

How to send money with the Venmo App:

Step 1: Select “Pay or Request”
Step 2: Add recipient
Step 3: Add the amount
Step 4: Select “Pay”
Step 5: Confirmation of transfer


Sending money with the Venmo app is straightforward and convenient for US customers looking to make domestic money transfers. The app is designed to be easy to use, encouraging fun and social interactions between users. In addition to this, setting up a Venmo account takes only a matter of minutes.

Having said this, money can only be sent from one Venmo user to another, and both must be based in the US. It is not possible to transfer money to bank accounts, or overseas, using this app. If you are looking to make an international money transfer from within America, check out our comparison tool to find the best deal for you, and have a read of our guide to the Most Used International Money Transfer Providers in the US.

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April Summers

April is a journalist and full-time content writer for MoneyTransfers.com. Over the last decade she has written for a number of different online and print publications. Having lived overseas in Canada and Vietnam, April hopes to see more of the world as soon as possible, with Japan at the top of her travel list. As a former expat, April has first-hand experience of managing finances from overseas. She enjoys writing about forex trends and the future of banking.

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