Venmo is more than a payment app, it’s a way to snoop on exes, shame friends, and practice your emoji-decoding skills. Its appeal lies in it being an easy way to do one of the most awkward things—settle up with friends.
There are limits, though. You can’t send more than $2,999.99 per week (even if you’re a Venmo cofounder) or have combined transactions that exceed $4,999.99. The limits help ensure Venmo stays between friends instead of becoming a discreet way to run a business. Which is for the best because you’re better off only exchanging money with people you know.
Still, the things that make Venmo so fun to browse and easy to use also make it a security risk. We have 11 tips that will make Venmo and your money work for you while keeping you both safe.