![]() Venmo works by linking with your bank account and (optionally) a credit or debit card. While both services essentially perform similar functions, Venmo is potentially better for users who just want to send and receive smaller amounts of money with low or no fees daily, while small businesses or customers who make a lot of online or large purchases and transactions may want to opt for PayPal. Keeping this in view, which is better venmo or PayPal? Venmo was designed specifically for small transactions between close friends and family only, no exceptions. The scammers have picked up Venmo as their new hunting ground. Secondly, is venmo safe to use with strangers? Venmo is ONLY for people you know in real life, like your mom, aunt or real life friends. Additionally, Venmo lets users create a PIN code for mobile transactions to further increase security. However, according to their site, Venmo uses bank-grade security and encryption to ensure the safety of their customer's accounts. Being aware of potential security threats and taking action to protect yourself can help reduce the odds of losing money through Venmo or another financial app.Īlso, is venmo safe to use with your bank account? Generally, Venmo is safe, but any time you're sending money electronically, you're taking a risk.
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