How To Accept Payment On Venmo – 5 Easy Ways (Updated Guide for 2022)

In this guide, we will show you everything you need to know about how to accept payment on venmo, so keep reading!

Below you can find out 5 different methods to accept payment on venmo,

Method 1 – How To Use Venmo – Send And Receive Money

Everyone in todays video i want to show you this app called venmo its an easy way to send and. Receive money just using this app on your phone its available for ios and android and its the exact same. On both platforms search and download the venmo app on the app store or the google play store and install. It and when you first get memo for the first time you have to sign up using facebook or email.

Here type in your first name and last name email and password on the sign up page im gonna go. All the way to the bottom of the page ill kind of explain to you some of these things that. It tells you but you could read it press next and this is gonna send me a verification code to. My phone so ill go ahead and type in my number and i let it connect to my facebook here. To get some of my contacts already so it will populate my app here so i could show you some.

Of the things here when you briefly look at the app let me just explain to you what youre looking. At in the center youre gonna see the two people icon those are all your friends that you let the. App connect to and you could see that theyve paid or received money from other people thats what this page. Is you could scroll down and see all the people that are listed here those are your friends then on. The right side you have a one person icon this is everything that you use therefore to send and receive.

Money thats gonna show up here then theres the globe icon let me go there and this is basically like. A facebook wall where its gonna show the activity of just everybody not people you know just everybody thats using. The app so thats kind of the social media aspect of them oh its a little bit different than the. Other apps designed to send and receive money thats the three icons on top but what we want to do. First is we want to link a bank account or a credit or debit card let me show you that.

Press the three lines on the top and on this page we want to go to the settings icon on. The bottom and we want to go to payment method theres not much were gonna be able to use the. App for if you dont have a bank account connected so press that and here if you havent used the. App before youre not gonna have a payment method here and the venmo balance is when people pay you its. Gonna sit on the vemma balance so well talk about that in a second but right now press add bank.

Or card and you could either add a bank account if you add a bank account money is sent completely. Free to other people using the app so thats the way i recommend if you dont want to do that. You could select the cart payment but that does have a 3% fee attached to it if youre using a. Credit card but if you do choose that you could type in your card number very straightforward and press add. If you choose the bank option you have a couple of options here you could do instant verification or you.

Could do manual verification takes a little bit longer the instant one basically tells you exactly what its gonna do. To verify you could press continue and go through this process again its pretty straightforward secure and private now once. Your bank account is either verified instantly or if you wait a couple of days for it to get verified. The manual way youre all set to use the app so now let me show you how to send and. Receive money press the three lines again and go to the home icon now and now im gonna go to.

The top right the pencil and money i cant press that and this is the page where you first need. To add someone that you want to request money from or send money to and if you connect the people. During the setup process theyre gonna show up here under your friends list or you could use their name you. Could use their username phone number or email so lots of different ways to invite them here so i invite. Someone here and select their name now lets say i want to give them five dollars i could type in.

The amount here thats the first thing you need to do is type in the amount after you pick the. Person then you need to type a message what is four so selecting the message i can type in coffee. For example then before you request and pay you see that private lock i cant click that and that lets. You basically let it be visible to no one thats the private option to the friends thats the middle icon. We looked at where you see all your friends activities if you wanted to show them that youve paid someone.

Or the public one where it just shows up on the globe icon the public social media wall of the. App so choose that make sure you know what you want here then when you click away theres a bunch. Of different icons here like a smiley face you could go ahead and add a mogees here you could go. Ahead and add bitmoji you could go ahead and add these gifts and if you share to the friends wall. Or the public wall all these icons are gonna show up here then you have to request or pay do.

I want to pay them in this case or request select one of those two options and then its gonna. Pull up your bank again thats why it was important to pull up your bank first and then you could. Just go ahead and press pay right here and it will make that transaction and if you were to request. Money exact same thing except instead of pay its gonna say request and that person will get a notification they. Just have to open the app and then i agree to pay you let me press the three lines on.

The home page again and if someone asks you for your venmo someone says whats your venmo thats the @. Sign thats your venmo thats why you would send them at the @ sign and then people could add you. To their account that way as a friend and then they could always use your venmo id to send and. Receive money instead of typing in your phone number or email when you do receive money on memo it will. Show your balance here right on top where it says the dollar sign in vemma mines at zero once you.

Do get money in venmo it doesnt go directly to your account it sits right here on the memo app. So you have to press transfer balance click that and on this page it will let you type in the. Amount you have on memo and transfer it out to your accounts you could do the free option where it. Takes a couple of days one to three days or the instant option but that requires a 1% fee so. Thats where the fees associated up to 10 dollars if you want to transfer out instantly and finally there is.

A venmo card if you click that memo card basically is a debit card where you could load it up. With money and use the venmo card to make purchases or send money it is not a credit card so. You can read more about the memo card here you could use it to earn rewards and you could customize. The card its a debit card so when you say get the memo card its gonna let you customize the. Card have your legal name on it and you can make transactions that way using your venmo balance i hope.

You found them more useful again there are other apps like event mode that you could test out as well. Like paypal or a cash app or apple pay and i have different videos about those and ill list them. Below this video in the description thanks so much for watching and ill see you next time.

Method 2 – How To Send And Receive Money With Venmo For Free 💰

Hey guys welcome to another video dusty here today im gonna be showing you guys how to send and receive. Money utilizing venmo a couple of things first though you need to download the app its free on both android. The google store and ios also you will need to link a bank account if you link a debit or. Credit card you will be charged a fee which is the beautiful thing about venmo if you link to your.

Bank account there are no fees involved and you can just transfer your money directly to the account once youre. Done so its pretty easy to go in once youve downloaded venmo set up an account and go to settings. Which is the gear icon that youre looking at here and then under settings youll see something where it says. Payment methods there underneath edit profile and thats where you go in and either add the bank account or the. Credit or debit cards but again as i mentioned earlier i would recommend adding a bank account so if we.

Go home here were gonna see my most recent transactions weve got one up there for a coffee that i. Paid for from a friend sending the money to my friend and then another one where i was paid by. A couple to actually film their wedding and so thats kind of the things that you may be utilizing this. Actual app for and so thats thats actually really really neat that thats the case now if you want to. Send money were gonna do sending money first and then well do receiving money next so if you want to.

Send money with venmo what you need to do is go up here in the upper right hand corner youre. Gonna see a pencil and a money icon you click that there the next thing that you want to do. Is you want to find the person that you want to send money to so im gonna send money to. This person here once im ready i type in what is the actual money for so maybe its for coffee. But in this case it is for a video so ive already typed up some text here letting them know.

That hey this is for a video this should be a fun conversation later but anyways you can either pay. Or request and in this case were going to pay so what you need to do in the upper right. Hand corner where it says zero tap that there and then enter an amount that you want to go ahead. And pay so well go ahead and send $1 the next thing that you can do down there in the. Lower right hand corner where it says public if you dont want this to show up in the feed because.

By the way this kind of works like facebook its like a social platform as well where it shows people. In the feed in their timeline what people are paying for what theyre sending what theyre receiving if you want. That to be private you can click the little public icon there and then it will be private there where. No one will see it but im gonna go ahead and leave it as public there you can even add. Some emojis and some different images if thats what you want to do and then once you are ready to.

Go go ahead and click the blue pay button there and then it says pay the person one dollar itll. Tell you the actual account that its coming out of there where you see it blurred out and then go. Ahead and press that green button and as you can see here in your feed youre going to see a. Red number which means that you have sent money if the money is green that means that you have received. The money now the same thing works if you want to receive money go here tap the little icon in.

The upper right hand corner click the button there that you want to select the person and then when youre. Ready go to request as opposed to paste go ahead and type in what the monies going to be for. Just like you did when you were you know paying someone and then click the blue request button then it. Says request $1 from candice dale click the green button and then now once you receive that money from that. Person you will see that as a green number in your feed if you have any questions about how to.

Utilize venmo i have a direct download link in the description if its something that interests you after getting so. Tired of the paypal fees which by the way vin moe is owned by paypal but as of right now. If you use a bank account you will not be charged any fees which is a fantastic deal for entrepreneurs. But just make sure youre keeping up with everything if you are receiving a bunch of money because you do. Have to report it to the irs obviously like you would with any other income even if its coming from.

Friends or family over a certain amount so if you have any more questions put those in the comment section. Below and i will see you guys in the next video.

Method 3 – Stop Using Venmo And Paypal In Your Business To Collect Payments From Clients

Using the free no fee personal version of venmo paypal or the cash app is a big no-no when it. Comes to collecting payments from customers in your small business and im here to tell you why hi there im. Stephanie thacker the founder and ceo of steadfast bookkeeping company which is a full service done for you bookkeeping and. Tax firm and im here to simplify all things bookkeeping and tax for your small business paying fees for accepting.

Money from your customers is a bit of a bummer and i get it i know you worked hard for. That money selling that product or service whatever it is and having to give away about three percent of that. Is no fun i know however when youre collecting payments using those free versions of venmo or paypal where theres. No fee involved with taking the payment it is not helping your business and its likely hurting it so let. Me tell you why first off there is a higher risk of scam or fraud weve seen it with so.

Many of our clients and you can read about it all over the internet at the end of the day. Theres just not as much protection in those no fee personal versions of the app as there would be a. Bookkeeping software or an invoicing software where your invoices and your payments are secured and protected the second thing is. That youre breaking the rules and who wants to be a rule breaker not me thats right paypal and venmo. State that when youre using those free no fee services for businesses youre actually breaking the rules they have different.

Versions they have business versions and personal versions if you read into that youll see that for those free no. Fee versions where youre just sending money back and forth on the apps they want that to be kept to. Friends and family who are paying maybe for you know their half of dinner or paying um for something like. That and not an actual business service so i dont know about you but i dont have time to mess. Around with that and be caught for something so silly the third thing is that its nearly impossible to do.

Bookkeeping when youre using those free personal versions of the app and the reason i say that is that especially. If youre using a bookkeeper if you have a bookkeeper in-house or youre out sourcing to a firm or an. Individual they might see a thousand dollar payment come in they see a thousand dollar deposit coming from your bank. And all it says is venmo and even if we were to log into venmo and look at those details. Unless the person has included a really good description we dont know what that money was for its especially difficult.

If youre selling products maybe for 15 20 25 here and there its really hard to know what the money. Is for even if its you and youre if youre only doing your bookkeeping say once a month are you. Really going to remember every payment that came in and exactly what it was for no so it makes it. Really difficult to do bookkeeping that way at the end of the day you or your bookkeeper are probably wasting. Time trying to track down and remember what that money was for and that time could have just been spent.

And paying the three percent fees and you would have been better off that way anyways so what do i. Recommend instead well i always recommend using a software maybe youre using something like quickbooks online that is not only. Your bookkeeping and accounting software but you can also send invoices straight from quickbooks and accept payments and guess what. They even have an option where you can accept ach payments where someone puts in their routing and checking number. And those fees are far less than the credit cards even with a credit card processing fee its typically somewhere.

Between two and a half and three percent you can also use something like dubsado or honeybook or something like. That if youre a service based business or if youre a product based business try using something like square where. You can input the specific products that youre selling and their price that way when you go to collect payment. From somebody you have detail on what you sold now you might be thinking yeah great im going to use. That but then i have to pay that 3 fee or whatever it is well guess what ive got good.

News that 3 is actually a deduction for your business its an expense that will come right out of your. End-of-year profit so theres no need to fear the three percent like i said in the beginning i get it. You work hard for the products and services that you sell and it kind of stinks to have to give. That three percent away but you should really look at it as a convenience to doing business i mean remember. When you had to accept checks or cash and then remember to go and take it to the bank and.

Record it manually and all of those things who wants to do that thats definitely not efficient bookkeeping so its. Way convenient and efficient to accept these payments online be able to see the detail and record it in your. Accounting software another thing is that you can easily build that three percent into your pricing and your customers wont. Even know or bad an eye at it so imagine you have a five thousand dollar package for photography services. And youre going to start you know using quickbooks to invoice and maybe youll be charged that three percent when.

They make their payment that could mean a hundred and fifty dollars well i bet if you raise your price. From five thousand to five thousand one hundred and fifty dollars youre not going to lose a customer that way. They would never know that your pricing used to be five thousand dollars and really that 150 dollar increase is. Pretty in insignificant anyways now if youve made the mistake of accepting payments this way its okay youre not alone. And you can go ahead and switch to a new method today now that you know and if youre looking.

For more advice and tips and maybe more mistakes that ive seen small businesses make in their bookkeeping check out. This video right here because i talk about the top three bookkeeping mistakes and how you can avoid them in. Your small business also dont forget to subscribe by hitting the button right here because i release new videos every. Week all about simplifying bookkeeping and taxes for your business so ill see you then.

Method 4 – How Do I Request Money On Venmo

Today were going to be learning how to request money from someone on venmo and youre going to see step-by-step. Instructions on the screen right here for you okay so the first thing that were going to want to do. Is we want to hit the blue button in the bottom right corner of the screen that says pay or. Request and as you can see you have the option to search their name username phone or email in this.

Instance were going to go by name and once we see the person that we are going to be requesting. Money from were going gonna go ahead and click on their profile from here you will have the link to. The persons profile from whom you are requesting funding and you will have the amount that you are requesting in. This case were requesting 25 and an important note for either paying or requesting on venmo is you do have. To put a note in here as well you can either do it in words or emojis for this instance.

Were going to say video and well make it a cute little camera another important thing to note here is. That in the middle of our screen you will see a friends icon and from here if we click on. That youll be able to determine who can see what youre requesting funding for so if youre okay with everyone. On the world seeing it you can make it public if you decide that you only want your friends to. See it you can keep it on the default friends setting or if you want to be no one able.

To see it you can go ahead and click on private for this instance were going to click on the. Friends option and from here you will have two options to click on you can either submit a request or. Pay that person again for this video were going to hit request and once everything looks good well see at. The bottom of our screen the green bar that says we are going to be requesting funding from our contact. So once we click on that itll automatically send our request out to our person and if we pull down.

On the screen itll refresh it and as you can see here it pops up on our timeline that we. Have charged our contact 25 for video and this charge only happens once they have approved the request for funding. That you sent them and within a minute or two of our contact submitting the funding that we requested you. Can see that it has become instantly available in my account next were going to be teaching you how to. Send money on venmo click this video right here to learn step by step how to do it.

Method 5 – How To Receive Money On Venmo And Transfer Funds To Bank Account

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Conclusion – How To Accept Payment On Venmo

The purpose of this post is to assist people who wish to learn more about the following – how to use venmo, how to use venmo to send and receive money, how to accept payment on your website (this is too easy), how to start accepting payment from clients online, how to sell at craft fairs – how to accept payments in person, how to cancel a venmo payment, how to accept payments from clients online in 2021, ✅ how to transfer money from venmo to bank 🔴, how to accept payments on squarespace, how to use venmo: ewallet, how do i cancel a pending payment on venmo?, ✅ how to cash out venmo balance 🔴, how to use venmo, how to send money on venmo for free, accept paypal & venmo qr code payments.

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