Venmo is a money transfer firm that operates in the United States. It is a product of PayPal, even though it operates independently. PayPal is a money transfer giant that operates in most parts of the world. You can use Venmo online after opening your account. You can use a tablet, smartphone, or computer to open your Venmo account. There are various services you can get from Venmo. However, today we shall see how you can get free Venmo money.
Everybody likes free money, and if a chance arises to get some, then there is usually no waste of time as long as the funds cause no harm. However, the free money may not be completely free as you will find that there is something you should do to get the promised funds. Usually, you may get free money as cashback from companies you purchase goods using Venmo.
The main reason why the founders of Venmo started the company was to help users, especially college students split bills when they go out together in movie theaters, restaurants, and other common places where they spend money. Today, Venmo is a large platform serving even those who are not students.
Table of Contents
How To Use Your Venmo Account
There are various ways you can use your Venmo account. They include the following.
1. Send money
You can send money to others as long as they are on Venmo by using the registered phone number, email, or username. Sending money is instant and may not be reversible unless recipients send you back.
2. Receive money
Apart from sending money to others, you can also receive finances from others. You only need to give them your necessary details, and the money reaches your account within no time.
3. Pay bills
If you buy from a merchant supporting the platform, you can pay your bills using your Venmo account. You only need to hit the send money option, and you are good to go. You use the same procedure as when sending money to others.
4. Withdraw to bank
When you open a Venmo account, you should enter a bank account. That helps you to withdraw money to your account when necessary. The bank account also helps you to fund your Venmo transactions when your account has no money.
5. Receive your monthly salary
You can still receive your payments without bank account from your employer into your Venmo account. That happens through direct deposit, whereby you provide your employer with the necessary details. Your salary enters two days earlier compared to the ordinary banks.
The Best Ways To Get Free Venmo Money Without Hassling
I suppose you have been waiting for this. There are various ways you can get free money through Venmo. They include the following.
1. Participate in Venmo campaigns
Venmo usually holds campaigns where participants can win good money to sort out their rent and other necessities. A good example was the #VenmoItForward Instagram campaign, whereby users stood a chance to win $10,000 to help with rent if they shared their specified post, then dropped their Venmo handle & tagged a friend. There is a chance of winning $18 when you follow Venmo and comment @Venmo handle.
2. Referral program
You can get free money on Venmo when you refer your friends to the company. If your friend joins through the referral link, you get a $10.00 bonus. Your friend also gets a similar amount when they make a qualifying payment for you to benefit from the bonus. You can get the money within 10-14 days.
3. Cashback
Venmo allows you to earn cashback when you make eligible purchases at select retailers. You can see the current merchant offers on the Offers section of your Venmo app. If there is a pending purchase, you will see estimated cashback in your feed, and the amount appears in your account once the merchant settles the payment. The cashback usually comes through the Venmo Credit Card Rewards program. You can get up to 3% cashback.
4. Get a tip from a customer.
Suppose you are a seller using Venmo to accept payments. In that case, you can easily get tips from customers due to the excellent services you offer them. The tip is not part of the payment and is therefore considered free. People working in restaurants are likely to get tips from their customers.
5. Venmo Gift cards
You can get a Venmo gift card from your friend or relative. A gift card usually has a specific value, and you can buy goods and services from a particular retailer. Others allow you to use the cards anywhere gift cards are accepted. Since the cards are loaded with money, the free money came as a gift.
Is Venmo secure to send money
Venmo is a secure platform where you can send money securely. It uses end-to-end encryption whereby your data is secure online when you send or receive money. However, you should use a secure internet connection when accessing your account to prevent hacking. You should also never reveal your password to anybody.
How Do You Open A Venmo Account
Understanding how you can open a Venmo account to carry out various transaction activities is crucial. To open a Venmo personal account, you should follow the steps below.
- Download the Venmo app on Android or iOS (Venmo has not developed a Windows app)
- Open the app
- Choose your sign-up method.
- Create a secure password (should range between 8 and 20 characters and contain at least one digit or symbol like !@#$%).
- Verify your mobile phone number and email
- Add a bank account and verify it.
It takes a short time to create an account on the platform and use it for your transaction activities.
Can I cancel a Venmo transaction
You cannot cancel a transaction to an existing Venmo account. Once you send the funds, then that is the end of it. You can only ask the recipient to refund the funds. However, you can cancel the transaction if you send money to someone, not in Venmo.
Bottom line
Venmo is a money transfer platform that allows you to send and receive money from others. You should open an account online using your smartphone or computer and carry out various transactions. The platform came into existence to help students split their bills. Today, you can use Venmo to send and receive money, withdraw to your bank, pay bills, and receive your salary.