Cash App vs Venmo: Here's the winner! - YouTube

Cash App and Venmo are pretty similar apps  that you can send money back and forth with  

all your friends and family. I'll let you know  all the differences and which one I think you  

should get. First up, let's go through all the  things that are similar between these two apps.  

Both Venmo and Cash App let you send money back  and forth with friends and family very easily  

for free. Both allow you to connect a debit card  or a bank account and with both you can send money  

to your bank account. It takes one to three days.  Both also allow you to do instant transfers out  

for a fee with a debit card. With both of them,  you can buy cryptocurrency. Both of them can also  

be turned into business accounts which I think  means a lot of businesses are probably going to be  

joining both of these platforms soon. I was also  surprised that both can be used from a computer,  

not just from a phone. You can see all of your  transactions and you can send money to other  

people. With both you can find other people  using their email address, their phone number,  

or their username. On Cash App it's  called a cash tag and starts with a $.  

On Venmo it's called a username and starts with an  @ sign. The fee structures are pretty similar on  

both. Most things you're going to do are going to  be free: sending money back and forth to friends,  

withdrawing to a bank account, adding with a  debit card. The most common thing that has a fee  

on both is an instant withdrawal to a debit card.  If you're worried about safety and security, both  

are owned by very reputable companies. Venmo  is owned by Paypal and Cash App is owned by  

Square. You've probably seen Square at many small  businesses as their way to pay with credit cards  

in the store. They're a really big company.  All right so let's get into the differences.  

One difference you'll notice in the app is  that Venmo is set up like a social platform  

and you can see the transactions that other people  have done. You can't see how much money they sent  

to each other, but you'll see little notes about  what the money was for and who sent money to who.  

A lot of people like to make funny jokes with this  and put all kinds of silly things in their notes  

about what the money was for. If you do not want  your transactions to show up in the social feed,  

you can set them to all be private by default.  Venmo can also connect with your Facebook account  

to pull your friends in from there. Cash App you  can only connect to your phone contacts. Venmo is  

also known for having a larger network of people  on the app, but I think Cash App is catching up.  

Both Cash App and Venmo offer a debit card that  you can use with your account. Venmo offers  

a bunch of colors to choose from. I've never had  a purple debit card before so that's kind of fun.  

For their Venmo debit cards, they have some  cashback offers, so these are at different  

stores that you might use your debit card at and  you can get some money back on your account. Venmo  

does also have a credit card option and Cash App  does not have a credit card that goes with it.  

Venmo also has an option for cashing a check  directly in your account which is really nice.  

Cash App doesn't have that yet but I've heard  that feature is coming to Cash App soon. One  

difference on the fees is that you can use the  Venmo debit card at an ATM for free in their  

network of ATMs. It is $2.50 for an out of network  ATM but with Cash App, every ATM is two dollars.  

All right, so let's talk about some of the pros  of Cash App. One is the age limit. For Venmo,  

you must be 18 years old. With Cash App, you can  get an account and a card if you are 13 and up  

with a parent. The Cash App debit card is  much more customizable than the Venmo one.  

There are only three colors to choose from but  you can add emojis and you can even draw on it  

yourself so you can write your signature on it  or your own drawing and have that printed on  

your card. It does have to be approved though so  it can't be anything rude. The Cash App debit card  

does have a nice feature called boosts. These are  a little bit like the cashback offers with Venmo  

but I found the boost to be really pretty good,  so they're like a discount off different kinds of  

things. It might be a particular store or it  might be a category of things like fast food  

or grocery stores. You can only add one boost at a  time onto your card and that'll be the one that's  

active at the moment. One nice feature that Cash  App has that Venmo doesn't is that you can add  

paper cash to your account. I'm gonna make a  separate video about how that works but you  

can deposit cash at stores nearby. If you haven't  tried Cash App yet, I'm gonna include my referral  

link down below and if you sign up with that  link and you set up an account with a debit card  

send somebody five dollars... it could be anybody  it doesn't have to be me or anything. Then you  

will get a five-dollar bonus on your account so  please use my referral code if you want to try  

out Cash App. It has some really nice features.  So which one of these two do I think wins? Well,  

as you can see, I have both of them and I have  both of them partly because I just want to have  

whichever one people want to use. Both are free,  so why not? So if I'm sending money to a friend or  

buying something off of Facebook marketplace,  I have whichever one the person wants to use.  

It's just easy that way, but if I had to choose  just one which one would I pick? I'd pick Venmo.  

And the reason is because pretty much everyone I  know already uses Venmo so they do seem to have  

a larger network of people and if the main point  is to send money back and forth with other people,  

I want the one that has more people on it. But  like I said, I think maybe Cash App is catching  

up and now that cash hub is allowing people  as young as 13 on their platform, I wonder if  

that's gonna raise the number of users they have,  so my opinion might change on this one. Which one  

do you like better? I'd love to hear about it  in the comments below. Do you have both or do  

you have just one? Next up, check out that video  about how to put cash on your Cash App account.