This content is rated TV-MA, and is for viewers 18 years or older. Are you of age?
Sorry, you are not old enough to view this content.

How To Video: Three ways to send and receive cash

About Video Transcript

How To Video: Three ways to send and receive cash

2:50 /

Owe your friend some money? Here are a few easy ways to exchange payments with friends.

[MUSIC] More and more, I hear myself telling my friends that I'll just Venmo them later. Apps like Venmo are becoming more popular because they let you send and receive money almost instantly using your phone. It's great for when you have to pay a friend back for a meal or give your roommate that rent money. Here's how it works. No matter what app you choose, and I'll get to a few of my favorites in a moment, you'll begin by entering your bank account information. That will then make a small deposit in your bank account to verify it. Once that process is complete, you're ready to start sending and receiving money. Most of these apps do the same thing, they host transactions. But each one offers a slight edge to make it stand out from the others. Venmo for instance let's you make payments through your debit or your credit card, but credit transactions come with a 2.9% fee. What's cool about Venmo though, is that it adds a little social element to these exchanges. So here I'll launch the app, enter in the amount I want to request from Chris who owes me for lunch and then I'll leave a comment. Here I can choose to make the transaction public where everyone can see it, show it to my friends only, or just keep it between Chris and I. Once I complete the transaction Chris gets a notification and can easily finish the payment through the app. When you receive money you can either keep it in your Vendmo account to use for future payments or you can use the option to cash out and deposit the money directly into your checking account. For something a little more private there's Google Wallet. With it, you can and receive money through the Google Wallet app or attach money to any email. So I'll just write an email as usual. And then down here, click this money symbol and a Google Wallet window will pop up. It works a lot like Venmo, except without the news feed of too much information. And all transactions are charged a 2.9% fee. As a third option there's Square Cash. When you think of square though you might think of those little credit card readers you see at small vendors, but Square Cash is a free peer-to-peer payment app. What's great is that you don't need to set up an account with Square. All you need to do is enter your debit card info, and Square handles the rest. The only drawback is that it doesn't work with credit cards. So those are just a few ways you can send and receive money quickly using apps. So, now, you don't need that any more. If you have any questions, or tips of your own, hit me up on Twitter. And check out cnet.com/how-to for more tips like this. For CNET, I'm Sharon Profis. [MUSIC]

New releases

Amazon Fire HDX 8.9 tablets powers...
2:43 30 October 2014
The 8.9-inch tablet adds item-identifying Firefly function and audio enhancing Dolby Atmos technology.
Play video
App that translates sign language...
1:37 30 October 2014
Many millions of people worldwide live with a disabling hearing loss. Now a team of deaf entrepreneurs is...
Play video
World of Warcraft hits its tenth...
5:19 30 October 2014
CNET speaks to World of Warcraft Lead Game Designer, Ion Hazzikostas, about the history of WoW and making...
Play video
The 13-inch Lenovo Yoga Tablet...
1:56 30 October 2014
Lenovo's new 13-inch Yoga Tablet 2 couples it's unique hinged design with Windows and a high-resolution d...
Play video
Sony's Action Cam Mini has big...
1:47 30 October 2014
The HDR-AZ1 delivers great video in a lightweight splashproof body that you can mount places other cameras...
Play video
Tomorrow Daily 077: The Antares...
25:50 30 October 2014
On today's show, we talk about the Antares rocket incident, how scientists might use hydrogel to create artificial...
Play video
Motorola's Droid Turbo brings 48...
3:37 30 October 2014
Google wants to get into your bloodstream, Amazon announces their Fire TV stick and the two day smartphone...
Play video
Use a tablet as a photography...
2:08 30 October 2014
Your iPad or Android tablet can be used as an instant photographic light. CNET's Lexy Savvides shows you how...
Play video