Venmo

Venmo is dead simple to use, with the QR code scan and effortless options to ask for payments or send them. The number of people who signed up for Venmo also helps - most younger folks are on it.

The social aspect of the software is a bit odd in that I'm not in the least bit interested in what my friends are paying one another for. When people get funny, I suppose it could be entertaining but too much of the feed is people paying each other for rent, groceries and other mundane stuff. Additionally, this present a business challenge where you need to be cautious about posting your purchases if it's a private purchase for your business.

I love the ease of use of this product. I am able to send and receive payments for my business with the simple click of a few buttons. I can also transfer funds to my bank and link my bank to make payments when my balance within the app isn't high enough for what I need to send. It is great for tip splitting between employees and has saved many issues with petty cash.

My least favorite thing is the lag between the transfer of funds to my bank. You can pay a small fee to get it instantly but I usually just wait for the free transfer. It is always a timely turnaround.

Setting up and using immediately was a desirable feature. Being able to invoice vendors and pay personal no matter where I was or what time it was, is a convenience. The film industry doesn't have regular hours and people like to be paid when their work is done. Venmo makes that happen without having to wait. So far I have had no issue with paying vendors through Venmo. I can always look back for records of transaction

Big one! My tax accountant recently told me that Venmo receipts were not the best records for the IRS. I think the IRS just hasn't caught up yet or they don't like electronic receipts. Trying to help someone over the phone set it up has proven difficult in the past, but I believe that was human error

Venmo is extremely easy to use! I love the ability to send money to anyone I owe right on the spot and their money can either be sent to their bank account or used right away.

The only thing I don't like about Venmo is that you can't choose your spending limit. They set it to $3000 and then if you verify your identity it can only be raised to about $6000. I would much rather have freedom on how much I can spend, or at least have some form of being able to give myself or another person the ability to withdraw as much as I'd like for a transaction, because it is MY money.