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Have you ever been to a restaurant and discovered that you left your wallet at home? In such situations, your friends are the best ones to help. Venmo is a web tool that facilitates money between friends.

Venmo is a web service with a wonderful concept behind: it lets friends SMS text money transfer each other. Here is how it works: you create an account on the Venmo website; next you select your smartphone type such as iPhone or BlackBerry; then you link your bank account or credit card to your Venmo account.

text money transfer

text money transfer

After all that is done, you can connect your friends’ Venmo accounts to your own and then pay or charge your friends. Your account history is given a “˜social’ touch by making it visible in a payment stream; this way your friends can view to whom you have paying or charging and for what.

text money transfer

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You can also categorize some of your friends as “trusted” contacts; this will auto-approve the transactions and notify you of them.

Features:

  • A great service to facilitate casual payments between friends.
  • Link up your bank account or credit card with your account.
  • Highly secure.
  • Provides a “trusted contacts” category that automatically approves transactions.

Check out Venmo @ www.venmo.com

  1. Shade
    December 14, 2010 at 12:42 pm

    Sounds great except for the requirement to have a facebook account.

    How about people who have real lives and don't need facebook?

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