VENMO
#182
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Join Date: Sep 2002
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Has anyone found a useful alternative to Venmo beyond Williampaid and Amazon? I just need something for single-direction transfers.
#184
Join Date: Jul 2005
Location: Chicago, IL
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So I am reading this as a yes but want to make sure that "fee-free credit card transactions until May 1st" includes transactions on May 1st also, so I can do a $2K on May1 without the fee? Until includes May1, starting May 2 the fee starts?
#185
Join Date: Jul 2005
Location: Chicago, IL
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Posts: 1,937
I just saw the email and because it is poorly worded it is ambigious, but the bottom part clearly states starting May 1 they will charge (regardless of what until means)
So, what's changing?
Until May 1st,
You can continue using Venmo the way you do now.
You can opt to switch to bank payments at any time by following a few simple steps. Click here to switch now.
Starting May 1st for you (and starting today for new users),
To continue using Venmo for free, you must switch to bank payments.
If you still want to use your credit card, you can set it as your funding source, but you will be charged 3% to cover credit card processing fees.
So, what's changing?
Until May 1st,
You can continue using Venmo the way you do now.
You can opt to switch to bank payments at any time by following a few simple steps. Click here to switch now.
Starting May 1st for you (and starting today for new users),
To continue using Venmo for free, you must switch to bank payments.
If you still want to use your credit card, you can set it as your funding source, but you will be charged 3% to cover credit card processing fees.
#186
Join Date: Mar 2006
Location: RDU
Posts: 812
Honestly, the only way to know will be to take a look on May 1, but I interpret it to mean that they will be charging the fee effective on May 1. I would love to be wrong!
#188
Join Date: Feb 2011
Posts: 78
Because new members are charged fees there isn't much point in signing up at this point. But if you really want an invite PM or post your email and I'll send you one.
Any bets on whether the no-fee policy makes it through April? Myself and XThousand other people will all be sending mass amounts over the next few weeks. For example I was previously sending $1500-$2000 a month total between 3 accounts. Now I will be sending $2000 each month from each account for a total of $6000 per month. all of my accounts are legitimate identities, so I have no concern if I have to verify my information.
When the goose stops laying golden eggs, it's time to fire up the oven!
Any bets on whether the no-fee policy makes it through April? Myself and XThousand other people will all be sending mass amounts over the next few weeks. For example I was previously sending $1500-$2000 a month total between 3 accounts. Now I will be sending $2000 each month from each account for a total of $6000 per month. all of my accounts are legitimate identities, so I have no concern if I have to verify my information.
When the goose stops laying golden eggs, it's time to fire up the oven!
#189
Join Date: Mar 2011
Posts: 159
seems like people are getting different emails, and I suppose that is based on historical usage.
below is mine. note that there is no "no-fee" credit card transaction. Everything gets hit with a 3% charge. Looks like a few lucked out and still have a no-fee limit of <$2000.
"At Venmo, we believe payments should be fun, fast, and easy. We also believe that payments between friends should always be free.
Today, we are taking a big step towards this vision. We are launching free and instant bank payments, which means you can fund payments from your bank account instead of a credit card. We've worked very hard to ensure that these payments are just as easy, fast, and secure as credit card payments.
So, what's changing?
Until May 1st,
You can continue using Venmo the way you do now.
You can opt to switch to bank payments at any time by following a few simple steps. Click here to switch now.
Starting May 1st for you (and starting today for new users),
To continue using Venmo for free, you must switch to bank payments.
If you still want to use your credit card, you can set it as your funding source, but you will be charged 3% to cover credit card processing fees.
When you're signing up your friends, you should know that they can send their first $500 from their credit card for free."
below is mine. note that there is no "no-fee" credit card transaction. Everything gets hit with a 3% charge. Looks like a few lucked out and still have a no-fee limit of <$2000.
"At Venmo, we believe payments should be fun, fast, and easy. We also believe that payments between friends should always be free.
Today, we are taking a big step towards this vision. We are launching free and instant bank payments, which means you can fund payments from your bank account instead of a credit card. We've worked very hard to ensure that these payments are just as easy, fast, and secure as credit card payments.
So, what's changing?
Until May 1st,
You can continue using Venmo the way you do now.
You can opt to switch to bank payments at any time by following a few simple steps. Click here to switch now.
Starting May 1st for you (and starting today for new users),
To continue using Venmo for free, you must switch to bank payments.
If you still want to use your credit card, you can set it as your funding source, but you will be charged 3% to cover credit card processing fees.
When you're signing up your friends, you should know that they can send their first $500 from their credit card for free."
#190
A FlyerTalk Posting Legend
Join Date: Sep 2002
Location: LAX/TPE
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Posts: 42,008
seems like people are getting different emails, and I suppose that is based on historical usage.
below is mine. note that there is no "no-fee" credit card transaction. Everything gets hit with a 3% charge. Looks like a few lucked out and still have a no-fee limit of <$2000.
"At Venmo, we believe payments should be fun, fast, and easy. We also believe that payments between friends should always be free.
Today, we are taking a big step towards this vision. We are launching free and instant bank payments, which means you can fund payments from your bank account instead of a credit card. We've worked very hard to ensure that these payments are just as easy, fast, and secure as credit card payments.
So, what's changing?
Until May 1st,
You can continue using Venmo the way you do now.
You can opt to switch to bank payments at any time by following a few simple steps. Click here to switch now.
Starting May 1st for you (and starting today for new users),
To continue using Venmo for free, you must switch to bank payments.
If you still want to use your credit card, you can set it as your funding source, but you will be charged 3% to cover credit card processing fees.
When you're signing up your friends, you should know that they can send their first $500 from their credit card for free."
below is mine. note that there is no "no-fee" credit card transaction. Everything gets hit with a 3% charge. Looks like a few lucked out and still have a no-fee limit of <$2000.
"At Venmo, we believe payments should be fun, fast, and easy. We also believe that payments between friends should always be free.
Today, we are taking a big step towards this vision. We are launching free and instant bank payments, which means you can fund payments from your bank account instead of a credit card. We've worked very hard to ensure that these payments are just as easy, fast, and secure as credit card payments.
So, what's changing?
Until May 1st,
You can continue using Venmo the way you do now.
You can opt to switch to bank payments at any time by following a few simple steps. Click here to switch now.
Starting May 1st for you (and starting today for new users),
To continue using Venmo for free, you must switch to bank payments.
If you still want to use your credit card, you can set it as your funding source, but you will be charged 3% to cover credit card processing fees.
When you're signing up your friends, you should know that they can send their first $500 from their credit card for free."
1) no mention of grandfathering in 'pioneer' accounts
2) we can charge up to our limit for free through May 1st
3) after May 1st, only those accounts *without* a history of charging more than $500 per month will be able to continue charging up to (but not more than) $500 per month fee free
So, if you plan on leaving Venmo, you can shove through money up to your limit through May 1st, then close your account and leave.
Has anyone found another alternative to Venmo?
#191
Join Date: Jan 2008
Location: LAS
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Posts: 4,904
Please note that after May 1st, your allowance for free credit card transactions will change. If you have made less than $500 in credit card-funded transactions throughout the lifetime of your Venmo account, you will still be able to make free credit card transactions until you have reached the $500 threshold. If the volume of your transactions has exceeded $500 during the lifetime of your Venmo account, and you still choose to fund your transactions via credit card, you will be subject to a small processing fee.
#193
Join Date: Nov 2008
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Posts: 374
#194
Join Date: Jan 2012
Programs: AA Platinum, Hyatt Globalist, Hilton Diamond, Bonvoy Titanium
Posts: 174
#195
Join Date: Jul 2011
Location: DFW
Posts: 1,145
I did $2k in one transaction last month and will do it again this month...i've been able to do about $5500 a month with this gig, sad to see it go.