Venmo prompts you to load money into account before transactions which was a NO for me.

If your PayPal account is tied to a bank account it is free to send money to friends and family. If it only has a credit card tied to it there is a fee. Any time you pay a business there is a fee no matter what your source is.

Anonymous wrote:No charge if you send to friends and family. If you send it to a business, they get charged a fee.

I used paypal for years, but I think venmo is better.

Zelle is another Venmo competitor that's free to use, it's the banks' solution to compete against Venmo. I started using it and it seems easy enough. I have Paypal forever and it's hit or miss when it comes to fees...

Anonymous wrote:

Anonymous wrote:So for ACH transactions between individuals with zero fee — how do they make money on this? Is it a loss leader? Data for advertisers?

The data is worth more than transaction fees.

Do they have ads on their website? Or do they sell pii style data to other companies building a profile on each user?

Anonymous wrote:

Anonymous wrote:So for ACH transactions between individuals with zero fee — how do they make money on this? Is it a loss leader? Data for advertisers?

The data is worth more than transaction fees.

also they make money off the interest, like a bank

Anonymous wrote:So for ACH transactions between individuals with zero fee — how do they make money on this? Is it a loss leader? Data for advertisers?

The data is worth more than transaction fees.

Anonymous wrote:Paypal insisted on $5 fee yesterday even though i chose not o send to a fri ne not business. What gives? Sent with Venmo instead and then read it’s the same company.

I just used PayPal last week without fee.

Were you paying with a credit card? They have a 3% charge to cover CC transaction cost.

So for ACH transactions between individuals with zero fee — how do they make money on this? Is it a loss leader? Data for advertisers?

Paypal insisted on $5 fee yesterday even though i chose not o send to a fri ne not business. What gives? Sent with Venmo instead and then read it’s the same company.

Anonymous wrote:So how do you get the money out of PayPal? You link your bank account to it?

That, or they can mail you a check.

So how do you get the money out of PayPal? You link your bank account to it?

In what way is venmo better?

Anonymous wrote:No charge if you send to friends and family. If you send it to a business, they get charged a fee.

I used paypal for years, but I think venmo is better.

Same company. I don’t like the public display of transactions on Venmo which are default behavior.

No charge if you send to friends and family. If you send it to a business, they get charged a fee.

I used paypal for years, but I think venmo is better.

Does PayPal get a percentage and if so, how much?
Does it cost money to have a PayPal account through which people can send you money?