Venmo or PayPal, and why?
- Thread starter 900ss
- Start date
East Bay Mike
Well-known member
Glad you asked this question, I’m wondering the same thing. Seems like people I know prefer Venmo recently for some unknown reason.
wazzuFreddo
WuTang is 4 the children
Venmo is owned by PayPal
Abacinator
Unholy Blasphemies
Zelle
In theory, PP has more protections in place and is a better tool for transactions where that's a concern. Venmo has *almost no protection, but also has no fees unless you want instant transfers back to your bank, i.e. Venmo is more like cash and PayPal is more like a credit card.
The only protection that Venmo offers is to the random third party that had their credit card stolen and then used on someones Venmo acct to buy something. Once it's reported, then the poor schmo who sold the product will have the money pulled back out of their acct, and will have lost their product.
The only protection that Venmo offers is to the random third party that had their credit card stolen and then used on someones Venmo acct to buy something. Once it's reported, then the poor schmo who sold the product will have the money pulled back out of their acct, and will have lost their product.
900ss
Well-known member
Why, vs Venmo or PayPal?
Abacinator
Unholy Blasphemies
I prefer it for sending/receiving money on an individual level because it's instant bank to bank. No farting around with having to transfer from your "wallet" or whatever that takes 2 business days (looking at you, PayPal)
tfkrocks
Well-known member
Venmo doesn't have the option to send as payment for goods/services like Paypal does so you don't have that type of payment protection should something go wrong. Venmo has the additional social media aspect, but I have everything on private and don't care about that part. Some people care though I guess.
I stick to Paypal for online payments when buying stuff from strangers but I'm ok with Venmo for face to face transactions. I use both when it come to people I personally know depending on what the other person prefers to use. Most people use Venmo though so that's usually what I use.
I stick to Paypal for online payments when buying stuff from strangers but I'm ok with Venmo for face to face transactions. I use both when it come to people I personally know depending on what the other person prefers to use. Most people use Venmo though so that's usually what I use.
RightCoastBias
F8TRED
If I'm buying things online from an individual, I'll only send money via PayPal Goods & Services, as there are buyer protections.
If I'm receiving money for selling something, I'll take it via PayPal or Venmo, as there's less risk and fees for me.
Venmo is something I'll use for friends, family for small things like meals or the like.
If I'm receiving money for selling something, I'll take it via PayPal or Venmo, as there's less risk and fees for me.
Venmo is something I'll use for friends, family for small things like meals or the like.
doc4216
Coastie who high fives
Same! If I know you on a personal level, I'm comfortable with Venmo for easy transfer of cash. If I am purchasing a product and don't know you, I prefer Paypal.
wilit
Well-known member
Pretty much how I use them as well.
I use venmo for casual money transfers, like if I'm out to dinner with a friend and they pick up the tab and I don't have cash.
Paypal is for bigger transfers, payments for work, purchases, etc. Basically anything I need a record of.
I used to pay my therapist through venmo though. That was kinda wild
ScottRNelson
Mr. Dual Sport Rider
Yeah, I noticed that Venmo and PayPal are owned by the same people. I have one special account at my bank just for PayPal. I use that same one for Venmo. I wouldn't have bothered with Venmo except that that's how my daughter wants to repay the personal loan that I made to her, so we have it. I think I've used it maybe twice for something else since I set it up in April.
For PayPal/Venmo I use a separate account that rarely has much money in it so that I don't have to worry about anybody draining my bank account using some bogus transaction. And this has been a good reminder to transfer some accumulated money out of that account - which I just did.
For PayPal/Venmo I use a separate account that rarely has much money in it so that I don't have to worry about anybody draining my bank account using some bogus transaction. And this has been a good reminder to transfer some accumulated money out of that account - which I just did.
JesasaurusRex
Deleted User
Cashapp?
