Banking

Cash App Vs Venmo – Features and How They Compare

September 4, 2022

This Cash App Vs Venmo writeup looks at the major advantages and disadvantages of both payment options.

It also explains the features of each and how to get started using them.

Why Use Cash App or Venmo

If you are interested in sending money and receiving money from friends and family then you will need the best cash transfer app.

Luckily, there are many useful apps out there and you can consider the best among them.

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Two great apps you can check out today are Cash App and Venmo.

These are popular mobile applications used by individuals to send and receive money from their families, peers, and customers.

They are very good mobile apps that allow users to send and receive money on the go.

Also, these apps have other awesome functionalities that endear them to people.

Now, both Cash App and Venmo work similarly, however, they still have unique features that differentiate them.

Since these apps work in similar ways, you may be in a dilemma as to whether to choose Cash App or Venmo.

If you are in this situation then this article will help you make better decisions.

It highlights quick reviews on Cash App and Venmo.

The details shared here can help you make a better decision. It makes a comparison between these two apps.

What is Cash App?

Cash App is a mobile phone app that is used to send or transfer money amongst people.

Individuals can send or receive money with their peers or family members via their Cash App balance.

People can send money via their Cash App balance or linked bank account, credit card, or debit card.

This app was released in 2013 by Square Inc.

Features of Cash App

Cash App has features which are discussed thus:

Cash App provides for different Payment Features

Cash App allows users to send and receive money with anyone.

It can also be used to donate to any important cause. You can also use tip Professionals.

To make any type of payment with this app, you can simply enter your ID like a phone number or $cashtag, or you can scan their QR code to pay.

Cash App has a Banking Feature

The Cash App allows you to receive your paycheck, tax returns, and other direct deposits.

You can do this up to two days early.

You can use your Cash App routing and account number to achieve this.

Cash App Provides a Cash Card

Cash App offers a Cash Card. This is a free and customizable Visa debit card.

This card allows you to make payments online and in stores.

With the Cash Card, the user gets “Boosts”. These are instant discounts you get when you use the card to make purchases at your favorite merchants.

Ultimately, you get to save money when you use this card and get Boosts.

The Cash Card can also be used to make ATM withdrawals.

Cash App Allows Users to Invest In Bitcoin

Cash App allows users to make investments in Bitcoin and Stocks.

You can use this app to buy sell, deposit, and withdraw Bitcoin.

Also, you can track the BTC price in real-time in your app and get started by buying as little as $1 of Bitcoin.

When you convert your dollars to Bitcoin, you can decide to keep it safe in Cash App, or you can withdraw it to a different wallet.

Cash App allows users to Invest in Stock commission-free

You can use Cash App to buy stocks.

Again, this company has paid $25+ million to members:

With as little as $1, the app allows you to invest in stocks of top US companies.

Your investment is commission-free.

Also See: How to Buy Silver Dollars from the Bank.

Cash App has a feature called $Cashtag

Cash App offers a feature called $Cashtag.

This is a unique identifier for individuals and businesses using Cash App.

With a $Cashtag your friends, family, and customers can make payments to you privately and securely.

$Cashtag is created automatically using a shareable URL that looks like this:

“https://cash.app/$yourcashtag”

Your $Cashtag must include at least 1 letter and must not be longer than 20 characters.

How to Get Started With Cash App

You can simply visit the App Store or Google Play Store and download Cash App.

Create an account and link your bank account, debit card, or credit card.

Once you sign up, you can start using the features of this card which include – Send and receive money from other users of the app, invest in Bitcoin and Stocks, etc.

Cash App Vs Venmo

What is Venmo?

Venmo is a mobile app that allows users to send and receive money via their linked bank account.

This app was launched in 2009 and is now owned by PayPal.

Features of Venmo

The following are some of the best features of the Venmo app:

Venmo allows users to Send and Receive Money

Venmo allows users to send and receive money within the United States. You can get paid or pay for anything using this app.

For each payment you make with this money earning app, you can connect with friends and remember the moments, and not the money.

Venmo states on its platform that it does not charge for sending money from a linked bank account, debit card, or your Venmo account.

There is a 3% fee for sending money using a linked credit card.

Under this feature, you can move money between Venmo and your bank account, you can get paychecks sent right into your Venmo account, up to two days earlier than your usual payday score.

Venmo Visa Credit Card

Venmo offers Venmo Visa Credit Card. It is issued by Synchrony Bank and in a partnership with Visa USA Inc.

The Venmo card can earn you cash back or rewards when you use it for specific expenses. You earn up to 3% cash back on the eligible shopping category.

Venmo MasterCard Debit Card

Venmo provides users with Venmo MasterCard Debit Card. It is issued by The Bancorp Bank in partnership with MasterCard International Inc.

You can shop with this card and earn cashback from some of your favorite spots. This card can be used anywhere MasterCard is accepted in the US.

Venmo offers Pay in Stores feature

With Venmo, you can pay local businesses the same way you pay friends on Venmo.

You can use your Venmo QR code to pay touch-free at stores like CVS.

So, all you just need is to scan your phone to make all the necessary payments.

Venmo for Business

Venmo for Business is another unique feature of Venmo. You can create a business profile for your side gig, small business, or any other type of business.

With this feature, you can connect with customers and get paid with ease.

You can get and use your unique business QR code for safe in-person payments.

Also See: How to Make Money Delivering Food for Uber Eats.

Cash App Vs Venmo – How they compare

Ownership: Cash App is owned by Square Inc. while Venmo is owned by PayPal.

Supported Devices: Cash App supports iOS, Android, and browser apps. Venmo supports only iOS and Android apps.

Send and Receive Payment features: Cash App allows users to make payment through debit card, credit card, Google Pay, Apple Pay, and bank account. Users can receive money through Debit Card, Mobile Wallet, ATM, and Bank account.

Venmo users make payments using bank accounts, credit cards, and debit cards. They can receive money via their bank account, debit card, mobile wallet, and ATM.

Cash transfer limit: Cash App allows a maximum outward transfer limit for an unverified account of $250 and $2’500 for a verified account.

Venmo allows a maximum amount for unverified accounts of $299.99 and $4’999.99 for verified accounts.

Fees: Both Cash App and Venmo charge no fees to send money. However, Cash App charges 1.5% for withdrawal. Venmo pegs the instant withdrawal fee a 1%.

Cryptocurrencies Features: Cash App users can buy Bitcoin. Venmo users can buy Bitcoin, Ethereum, and Litecoin.

Conclusion

The above details compare Cash App and Venmo. Both are money transfer apps.

They have similar features but also individual features that make them unique.

You can make your decision as to which would provide you with better features.

The decision of which one of them will serve you better will depend on your personal need.

However, safe transactions and privacy protection are key considerations before you choose Cash App or Venmo.

Again, this company has paid $25+ million to members: