Do you know Venmo?

Media / Blog

Do you know Venmo?

Prev

Personal Finance 101 – Your Benefits Package At Work: Life Insurance

May 16, 2011

Technology is certainly shaping the way we handle our finances. Over the past five years many people have moved to using on line bill paying through their banking institutions. The way we deposit checks remotely has changed dramatically even in the past few years including a recent service which allows you to take a picture of the front and back of a check and deposit it through your smart phone. With all of these types of new services popping up over the internet, you may want to look at one called Venmo.

Venmo gives you and your friends a simple, fun and free way to pay each other back for lunch, dinner, drinks, rent, groceries, tickets, and trips. (www.venmo.com). I think about a time when you may be out and about with friends and someone doesn't have cash on them, but they do have their Venmo account set up. Instead of giving the server five different credit cards, your friends can just pay you through Venmo.

Essentially, you can get money into your Venmo account by linking a bank account or a credit card. To get money out of your Venmo account, you can set up direct deposit, and they will automatically transfer any money you receive on Venmo into your bank account every two weeks. You can also cash out manually at any time. According to the Venmo website, there are no fees for the transactions.

This is just another way you are seeing smart phones being used to help you manage bills and money. I'm sure we will see many more to come!

Ted Jenkin, CFP®, AAMS®, AWMA®, CRPC®, CMFC®, CRPS®

Co-CEO and Founder oXYGen Financial, Inc

Have Financial Questions? - Get Your Answers Here

oXYGen Financial, Inc. co-CEO Ted Jenkin is one of the foremost knowledgeable professionals in giving financial advice and Smart Money Moves to the X and Y Generation.

Phone 1.800.355.9318 or 770.777.0427

oXYGen Financial - Atlanta Georgia Financial Service Experts

Securities and Investment Advisory Services offered through NFP Advisor Services, LLC (NFPAS), Member FINRA/SIPC. Oxygen Financial is not affiliated with NFPAS. NFPAS does not provide tax or legal advice. This site is published for residents of the United States only. Registered Representatives and Investment Advisor Representatives of NFP Advisor Services, LLC (NFPAS) may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed. Not all products and services referenced on this site are available in every state and through every representative or advisor listed. For additional information, please contact NFPAS Compliance Department at 512-697-6000. PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of the web sites provided here, you are leaving this web site. NFP Advisor Services, LLC makes no representation as to the completeness or accuracy of information provided at these web sites. Nor is NFP Advisor Services, LLC liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, web sites, information and programs made available through this web site. When you access one of these web sites, you are leaving our web site and assume total responsibility and risk for your use of the web sites you are linking to.

Next

What is really cheaper?

Sign Up

Sign up for our exclusive Sunday Paper with a weekly market commentary, insightful personal finance blogs, and life changing education guides.

Email sign up

Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. oXYGen Financial is not affiliated with Kestra IS or Kestra AS. Kestra IS and Kestra AS do not provide tax or legal advice. https://Bit.ly/KF-Disclosures

This site is published for residents of the United States only. Registered Representatives of Kestra IS and Investment Advisor Representatives of Kestra AS may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed. Not all products and services referenced on this site are available in every state and through every representative or advisor listed. For additional information, please contact Kestra IS Compliance Department at 844-553-7872.

PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of the web sites provided here, you are leaving this web site. Kestra IS and Kestra AS makes no representation as to the completeness or accuracy of information provided at these web sites. Nor is Kestra IS and Kestra AS liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, web sites, information and programs made available through this web site. When you access one of these web sites, you are leaving our web site and assume total responsibility and risk for your use of the web sites you are linking to.