Here's how to use Venmo,
the popular app that lets you
send and receive money digitally.
Venmo is available
for both iOS and Android.
Today, we will be showing Venmo on an Android phone.
Once you download the app
and follow the prompts for creating an account,
you can add a bank account, credit card, or debit card
for handling transactions.
Go to the hamburger menu at the top
and press "Settings,"
then press "Payment Methods."
To add a bank account, credit card, or debit card,
press "Add bank or card."
Sending money from a bank account or debit card
is free on Venmo,
but it will charge a 3% fee
for sending money with a credit card.
If adding a bank account,
you will have two options for verification.
Using instant verification
will have you sign into your bank account
to instantly verify.
You also have the option to do a manual verification,
which involves inputting your bank's
routing and account number.
This option can take a few days.
Once your account is verified,
you are ready to send
or request money from someone.
Press the "Pay or Request" button
if you would like to send money to someone
or if you would like to request money from someone.
Here you will find your list of friends.
If you signed up using your Facebook account
or gave Venmo access to your phone contacts,
you may see friends pulled from these sources.
You can search for someone to pay
or request money from at the top.
Venmo offers several ways to search.
You can search people by their name,
their Venmo username,
their phone number,
or their email address.
Each Venmo account also includes
a unique QR code
that can be scanned to make sure
you are paying the right person.
You can find your username and QR code
by clicking on your profile picture
in the top left on the home screen.
Once you confirm you have the right person,
press on their name.
Here's where you can set your payment
or request for payment.
Put in the amount here.
Underneath, you can add a payment description.
You can also add fun things
like emojis and gifs to your payments.
Press through the different icons at the bottom
to see what is available.
To the right,
you will see your privacy setting.
Pressing that will reveal a menu
that allows you to choose who that payment
or request will be visible to.
You can also change which one of these settings
is your default
by going to the hamburger menu on the homepage
and pressing on "Privacy."
There, you will find your default privacy settings.
OK, back to our payment.
Choose "Pay" if you are sending money to that person
or "Request" if you are requesting money from that person.
For this example,
we're going to choose "Pay."
Here, you can see your Venmo balance,
which will accumulate as people pay you.
Venmo will always use your Venmo balance first
as a payment option.
And if that balance does not cover the transaction,
it will use your bank account
or card that you added.
To send your payment, press "Send."
If you were going to request money,
the process is very similar.
You would just choose "Request" instead of "Pay."
If you'd like to transfer money
from your Venmo account to your bank account,
go to the hamburger menu.
Next to your balance,
you will see "Manage balance."
Press it.
You will see options "Transfer to Bank" and "Add Money."
"Add Money" will allow you to transfer money
into your Venmo account from a bank account,
but we want to move money
from Venmo to our bank account.
So we're going to choose "Transfer to Bank."
Venmo gives two options,
an instant transfer that charges a fee
and a free option,
which can take a few days.
To transfer instantly,
Venmo will charge a 1% fee up to $10.
Choose an amount you would like to transfer
and press the "Transfer" button when you are ready.