‘Venmo me:’ The trendy way to pay

Venmo is a smartphone app that allows you to quickly and easily transfer money from peer to peer. (Photo Credit?)

Venmo is a smartphone app that allows you to quickly and easily transfer money from peer to peer. (Photo Credit: Taryn Owen)

College students and young professionals have a lot to worry about, and one of those things, of course, is money. A student can’t buy movie tickets for all their friends and forget about it. They need to get their money back, but this generation rarely carries cash.

I found myself in this situation time and time again this summer while studying abroad in Europe.

Spending five weeks travelling through Europe with a group of classmates was a blast. There was so much to do and we tried to do it all. We planned to rent bikes in Amsterdam, go hiking in Switzerland, go on a gondola ride in Venice and do so many other things.

If we hadn’t withdrawn cash yet, if our cards weren’t working or if it was easier to pay as a group, we would pay for each other.

But at the end of each day, it was hard to keep track of who I owed and who owed me. Sometimes none of us had cash and it was frustrating trying to get paid. Fortunately, one person from the group told us all about Venmo, an app for phones that makes transferring money fast and easy.

Adding messages to your Venmo transactions helps you keep track of them. (Taryn Owens)

Adding messages to your Venmo transactions helps you keep track of them. (Photo Credit: Taryn Owen)

I downloaded the app and set up my account in less than 10 minutes. After that, I just had to search for my classmates’ names, enter the amount I owed them and write a little message to keep track of the transaction.

There’s no charge on Venmo transfers from most bank accounts or debit cards  However, there is a 3 percent charge for credit cards and some debit cards from small banks. Venmo clearly notifies the customer if a card that falls into those categories is added, so there are no unexpected fees.

I used Venmo the whole time I was in Europe. Because we were able to transfer money quickly and easily to one another, we were able to get group rates for things, pay for meals quicker and continue seeing everything we wanted to see.

Our group used Venmo so much that it became a verb. “Just Venmo me,” was a phrase often uttered.

Venmo made the paying process everywhere a lot simpler. It helped get rid of the stress of travelling with a group and left me with more time to enjoy my time abroad.

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