MARCH 25, 2020 | VENMO
We’ve been inspired by how our Venmo community has come together to support each other amidst COVID-19 with payments of goodwill and random acts of kindness. As we continue to navigate the evolving situation, we know many of you are getting used to the new norm of working from home, practicing social distancing, and taking steps to help contain the spread of the virus.
For many of you, this also includes making sure parents, grandparents, and loved ones in your life are taking the necessary precautions to limit their chances of contracting the virus. If they’re turning to cashless solutions to avoid the germs associated with paper money, we’ve created some helpful tips to guide them through the process of signing up and using Venmo securely.
Signing up for an account is easy
Many people who may be unfamiliar with using digital payments might be hesitant to use it because they think setting it up will be timely and complicated. You can reassure them that a new Venmo account can be set up in just a few steps by walking them through these simple instructions. Venmo can be used across Android and iOS devices, all with an easy-to-use mobile app.
Venmo can be used at no cost*
If your loved ones are concerned about the fees associated with digital payments, you can assure them that there are no costs to sign up, payments can be sent and received with no fees when they link a bank account or debit card, and money can be transferred to their attached bank account or eligible debit card in 1-3 days with no fees. If they need the money right away, Instant Transfer allows customers to transfer the money in their Venmo account to an eligible debit card or bank account within minutes for a small fee** (1% fee, minimum fee $0.25, maximum fee $10).
Venmo is safe
The security of users and their account information is always our top priority. To add an extra layer of security, you can help them set a 4-digit PIN and TouchID/FaceID if they’re on iOS. Once enabled, these features will prompt PIN/TouchID/FaceID every time the app is opened, so their account can’t be accessed by others. Venmo accounts are also protected against fraud or stolen funds as outlined in our User Agreement. We also take privacy seriously. Our app includes a pop-up privacy tutorial that every new customer sees when they first open the app to further educate the user on how to choose their preferred privacy settings – help walk them through this.
How to send or request a payment
From the home screen of the latest version of the app, tap the icon in the top right hand corner of the app to compose a payment. Simply type in the user’s name, @username, phone number or email, enter the dollar amount and add a payment note to share what the payment is for. Once complete, click ‘Request’ or ‘Pay’ and the user will receive a notification.
Pay the right person, every time
For those who may be concerned about sending a payment to the wrong person, you can show them where to locate and scan QR Codes from the dropdown menu in the app, so they can easily find the profile of the person they're trying to pay. If they’re with the person they want to pay, they can scan the code directly with their phone, or share the QR code via email, text or AirDrop (iOS only) if they’re in a different location.
Patience is key
We know explaining a new app or technology to someone who is unfamiliar with it might take a little extra time, but be patient, understanding, and open to answering questions, even if they seem silly. As always, if you or your family need any assistance setting up or using your account, you can visit our Venmo help page, send us a message, chat with us in the app under ‘Get help’ from the dropdown menu, or give us a call at (855) 812-4430.
*While receiving/withdrawing money into your Venmo account or using our standard transfer to your bank account is available at no cost, certain other transaction fees and costs, terms, and conditions are associated with other Venmo features. See Venmo fees for more details.
**Transfer speed depends on your bank and could take up to 30 minutes. Fees, limits, and holds may apply.
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