Venmo vs. Cash App | What is the BEST Payment App

Check out Venmo HERE: https://magnified.reviews/Venmo Check out Cash App HERE: https://magnified.reviews/CashApp Click “Show More” to see my Favorite Financial Tools ▽MY FINANCIAL TOOLS▽ 🏦 SoFi Complete Money Management ➤ Checking & Savings - https://magnified.reviews/SoFi ➤ Credit Card - https://magnified.reviews/SoFiCreditCard ➤ Invest - https://magnified.reviews/SoFiInvest ➤ Budgeting - https://magnified.reviews/SoFiRelay ---------- 💰 Chime Fully Online Banking ➤ Sign-Up for Chime HERE: https://magnified.reviews/Chime ➤ Chime Credit Builder HERE: https://magnified.reviews/Credit-Builder ---------- 💳 Favorite Credit Cards ➤ Chase Sapphire - https://magnified.reviews/Sapphire-Pr... ➤ Capital One Venture X - https://magnified.reviews/VentureX ➤ Chase Ink Business - https://magnified.reviews/Ink-Business ➤ Amex Green - https://magnified.reviews/Amex-Green ➤ Amex Platinum - https://magnified.reviews/Platinum ➤ Amex Business Gold - https://magnified.reviews/BusinessGold ---------- 📊 Wealthfront Automated Investing ➤ First $5,000 Managed for FREE - https://magnified.reviews/Wealthfront ---------- 💵 Current Card ➤ Current | Modern Banking App - https://magnified.reviews/CurrentCard ---------- 📸 MY CAMERA GEAR ➤ My Camera: https://magnified.reviews/Camera ➤ My Microphone: https://magnified.reviews/Microphone ➤ My Lights: https://magnified.reviews/Lights In case you've been living under a rock, CashApp and Venmo are both payment service providers that allow you to send and receive money right from your smartphone but both of these platforms now do way more than that offering debit cards and banking among other financial tools making their differences much more noticeable. First of all, both platforms are available on Android, iOS, and in a web browser and it is completely free to open an account with both platforms but their fee structures are the first main difference. Obviously linking your own bank account or debit card is free and that gives you the ability to send and receive funds pretty easily and they both have the same 3% fee if you want to send money using a credit card which makes sense since THEY have to pay an interchange fee if you do that so I wouldn't recommend it. Both platforms also have ATM fees of around $2.50 but Venmo does have in-network ATMs on networks like MoneyPass allowing you to withdraw money for free using the Venmo MasterCard which we'll talk more about later in the video. The next thing that may be important to you especially if you're using these transfer apps for larger transfers like paying your rent is the transfer limits. Your limit is going to depend on whether you have a verified or unverified account but honestly getting your account verified just requires basic information like a phone number and e-mail address so I’d just take care of that but if your account is unverified your weekly limit is $250 on cash app and $300 on Venmo while verified Venmo users can have up to $5000 in weekly transfers while the CashApp limits can vary depending on the user account and several variables. I have personally used both CashApp and Venmo for several years now and when it comes to peer-to-peer transfers, it's hard to argue that one is better than the other. So at the end of the day while they both are pretty much identical in terms of peer-to-peer transfers, I personally see more individuals in my social circle on Venmo, and considering they are owned by the grandfather of money transfer PayPal, it's likely that that will only continue to be the trend going forward so between these two I personally would be going with Venmo but if you're looking for some of those additional products and features then CashApp might be the better option for you. 0:00-Fee Comparison 2:12-Crypto Features 4:13-App Comparison 4:44-Additional Products 7:40-Which One is BEST? 9:19-My FINAL Thoughts Magnified Money may receive compensation for sending traffic to partnered sites. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.