Venmo is an application that is designed to send money to friends, but with an added social element. The app is owned by PayPal, which has long been able to recognize trends in personal finance and performs exactly as you'd imagine it to. It's easy to use and has an excellent security feature to guard your personal financial data.
If you're looking to do something more fun and rewarding for your social circle, Venmo offers that, too, and allows users to connect and share their transactions (though you can make your transactions private if you prefer). Transfer fees are also affordable as bank and debit card transfers are completely free. In contrast, credit card transfers cost 3 percent of the balance, and instant transfer from Venmo accounts to bank accounts costs 1.5 percent of the amount that is transferred.
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