Cash App vs Venmo: Security
Sending payments electronically always triggers safety concerns. Fortunately, both Cash App and Venmo take security seriously.
Cash App – Uses security locks (PIN or face recognition), push notifications for account use, data encryption, fraud protection, and instant card freezing if you lose it or it’s stolen.
Venmo – Uses data encryption to protect your information, freeze the app on your phone from a computer if your phone is stolen, and only allow payments between friends and family (not purchases from strangers).
Winner: Cash App offers a few more features and is more transparent about their security efforts than Venmo, although both are safe.
*Keep in mind neither Venmo or Cash App is FDIC insured, which means your balances aren’t protected.
Cash App vs Venmo: Transfers (Send and Receive)
It’s easy to send and receive payments with Cash App and Venmo with your smartphone and the app.
Cash App – Send payments with the recipient’s email, phone number, or $CashTag. You can also donate to charity, tip professionals, or pay a business using their QR code. You receive payments the same way and can see all payments received in the activity portion of your dashboard.
Venmo – Just tap the pay or request button and follow the prompts to send money or request it via Venmo’s social feed. You can also scan a QR code to pay someone directly.
Winner: You can do more with Cash App, including donating to charity or tipping your hair stylist or Uber driver. Venmo is meant for payments between friends and family.
Cash App vs Venmo: Fees
Both Cash App and Venmo don’t charge anything to send or receive money in your respective account. They each have respective fees for other services though.
Cash App – $2 fee to use the Cash App ATM card until you have at least $300 in qualifying direct deposits, then you get 3 free ATM transactions a month. Standard deposits (1 – 3 business days) are free, but instant deposits (within the hour) cost 1.5% of the transfer. Cash App also charges 3% to fund a payment with a credit card. Want to know how Cash App makes money? Click here.
Venmo – $0 ATM fee if you stay in-network, otherwise they assess a $2.50 fee for out-of-network ATM fees. Standard deposits (1 – 3 business days) are free, but instant deposits (within the hour) cost 1% of the transfer. Venmo also charges 3% to fund a payment with a credit card.
Winner: Venmo comes out ahead slightly because of the $0 ATM fee and lower instant deposit fee.
Cash App vs Venmo: Debit Cards
Cash App and Venmo both offer free debit cards with your account that you can use just like your regular debit card.
Cash App – Customize your debit card and use it to pay online or in stores. Using your Cash App debit card is the only way to get Cash Boosts or instant discounts that you opt into.
Venmo – Venmo offers a free debit card too that you can use anywhere debit cards are accepted. Venmo offers cashback rewards on certain purchases, that they transfer to your Venmo account.
Winner: It’s a close one, but Venmo beats Cash App for its cashback rewards at multiple merchants versus Cash App’s single opportunity for a Cash Boost (discount).
Cash App vs Venmo: Spending and Receiving Limits
Cash App and Venmo both have spending and receiving limits, with the opportunity to increase as you use it more.
Cash App – You can send up to $250 every 7 days and receive $1,000 in 30 days. To increase your limits, you must verify your name, date of birth, and Social Security number.
Venmo – Initially, you can send up to $299.99 weekly with Venmo, but that increases to $4,999.99 weekly once you verify your personal information. You can receive up to $999.99 per week before you verify your identity and $19,999.99 per week after verifying your identity
Winner: Venmo offers much more flexibility with its sending and receiving payment limits.
Cash App vs Venmo: Customer Service
As is the case with many mobile apps and online programs, customer service lacks for both Cash App and Venmo.
Cash App – There are no options for phone support, but you can call 855-351-2274 for automated assistance. The best way to contact the Cash App support is via the Cash App Twitter page.
Venmo – Venmo offers in-app chat options Monday – Friday 7 AM – 1 AM EST and Saturday/Sunday 9 AM – 11 PM EST.
Winner: Venmo wins for the access to a ‘real person’ to get help with the app.
Cash App vs Venmo: Which is Better?
So which peer-to-peer payment app is better for you? It comes down to the features you want. Both apps easily send and receive payments. The limits differ, and the Cash App offers the opportunity for direct deposit.
Venmo is the most commonly used app, but Cash App has its benefits for those who prefer to use a system backed by the popular Square company. Look at your options and try an app out before deciding. You can always switch over, but don’t forget, when you find an app that you like, use their referral program to earn cash bonuses. Learn more about Cash App in our Cash App Review.
If you are interested in how Cash App differs from Venmo, our Cash App vs Venmo article can help you.