It is easy to create a Venmo account via a mobile app or website by providing basic information and bank account information. Recipients of transactions can be found quickly, either via phone number, Venmo username, or email.
Users will have a Venmo balance that is used for transactions. Bank accounts, debit cards, or credit cards, can be linked to Venmo accounts. Alternatively, users can order a Venmo MasterCard and pay through the card.
If a user does not have enough funds in the Venmo account when making a transaction, the funds will automatically be withdrawn from the registered bank account or card.
When users first create an account, total transactions cannot exceed $299.99. This is until their identity is verified. After identity verification, users can send up to $2,999.99 in each seven-day period.