Venmo
Social payments app for splitting bills, sending money to friends, and making purchases with a social feed, debit card, and crypto trading features.
Pricing Plans
Free
Instant Transfer
Credit Card
Pricing model: per transaction
Pros & Cons
Pros
- Free person-to-person payments from bank/debit
- Social feed makes splitting bills easy and fun
- Widely adopted among US millennials and Gen Z
- Venmo debit card for spending balance anywhere
Cons
- US-only (no international support)
- Instant transfers cost 1.75% fee
- Not suitable for business transactions
Venmo Alternatives
YNAB
You Need A Budget — proactive budgeting app based on the envelope method.
$99+
Mint
Personal finance management app by Intuit that aggregates bank accounts, tracks spending, creates budgets, and monitors credit scores in one dashboard.
Free / $4.99+
Empower (Personal Capital)
Financial planning and wealth management platform combining free budgeting and investment tracking tools with optional advisory services for high-net-worth individuals.
Free / $0.89+
Robinhood
Commission-free stock, ETF, options, and cryptocurrency trading platform with a mobile-first design aimed at making investing accessible to everyone.
Free / $5+
Acorns
Micro-investing app that automatically rounds up everyday purchases and invests the spare change into diversified ETF portfolios, plus banking and retirement accounts.
$3+
Wealthfront
Automated investment management platform (robo-advisor) offering tax-loss harvesting, financial planning, and high-yield cash accounts with low advisory fees.
$0.25+Frequently Asked Questions
What is Venmo?
Social payments app for splitting bills, sending money to friends, and making purchases with a social feed, debit card, and crypto trading features.
How much does Venmo cost?
Venmo offers a free plan. Paid plans start at Instant Transfer: $1.75/mo, Credit Card: $3/mo.
What are the best alternatives to Venmo?
The best alternatives to Venmo include YNAB, Mint, Empower (Personal Capital), Robinhood. Each offers similar functionality with different strengths in features, pricing, and ease of use.
Is Venmo free?
Yes, Venmo offers a free plan with limited features. Premium plans are available for users who need more advanced functionality.
What is Venmo best for?
Venmo is best for Friends Splitting Bills, Young Adults, Casual Payments, Us Users. It is designed to serve these audiences with specialized features and workflows.