Venmo review

Venmo is a payment app first, but it now covers the basic splitting job too. You can split a total with friends in equal or custom amounts, schedule one-off or recurring payments, and create a group for roommates or a trip. Venmo says Groups lets you add expenses as they come up, adjust each person's share and have Venmo do the math when it is time to settle. The advantage over a pure tracker is that the payment happens in the same place. Fees are low for this use: there is no monthly fee, and sending from your Venmo balance, a debit card or a bank account to a Venmo or U.S. PayPal account costs nothing. Sending with a credit card costs 3%, and moving money to your bank instantly costs 1.75% with a $0.25 minimum and a $25 cap, while the standard transfer is free. Venmo does not document multi-currency balances, recurring expense splits by percentage or receipt scanning, so complex trips are better tracked elsewhere.

Who it is for

US friends who already pay each other on Venmo

Price

Free to send from a bank, debit card or balance; 3% with a credit card.

No fee to send money to a Venmo account or U.S. PayPal account using your Venmo balance, debit card or bank account.
Quoted from the vendor pricing page on November 13, 2026.

Key features

• Split a total with friends in equal or custom amounts
• Venmo Groups for roommates and trips, with adjustable shares
• Scheduled and recurring payments
• Standard transfers to a bank at no fee
• Privacy setting per payment: Public, Friends or Private

Strengths and weaknesses

• Strength: Tracking and paying happen in one app
• Strength: No monthly fee and no fee to set up an account
• Strength: Recurring payments suit monthly rent shares
• Weakness: 3% fee when you send with a linked credit card
• Weakness: Instant Transfer costs 1.75% with a $0.25 minimum and $25 maximum
• Weakness: No documented multi-currency balances for international trips

Key facts

• Monthly fee: $0.00
• Credit card send: 3%
• Instant Transfer: 1.75% (min $0.25, max $25)
• Groups: Yes

Where it ranks

Venmo is No. 6 in our Best Expense Sharing Apps verdict.