6
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

Tomorrow Daily 119: Robot bats, real-life ad-blocking headset, a futuristic piano and more
24:47 January 27, 2015
On today's show, we shudder at a robot bat that can easily switch between flying and moving on the ground, check out a headset that...
Play video
Google's looking to become its own wireless carrier
4:08 January 27, 2015
Google plans to shake up the U.S wireless market, Project Ara could partner with BLOCKS modular smartwatch, and photos leak for the...
Play video
Black & Decker's stick vac can't rise above the pack
2:24 January 27, 2015
It looks like an upright while maneuvering like a stick, but middling performance and tedious maintenance keep this vac grounded.
Play video
Turn Amazon Echo into a better music player
2:22 January 27, 2015
If the Echo does one thing really well, it's play music. Find out how to do more than just play a single song.
Play video
Hide photos on Facebook with Wickr's cat decoys
2:53 January 27, 2015
Wickr disguises photos shared on Facebook, Twitter adds video and private group messaging, and police speak out against the Waze app's...
Play video
Dayton Audio B452 speaker cheap not nasty
1:13 January 27, 2015
Dayton Audio's entry-level B452 bookshelf speaker's sound is remarkably satisfying for a speaker under $30.
Play video
Exploding Kittens: NSFW edition
1:32 January 27, 2015
The Oatmeal's Matthew Inman reveals a few of the explicit cards that are slated for the adult version of Exploding Kittens
Play video
Exploding Kittens rake in millions on Kickstarter
2:50 January 27, 2015
We interview Matthew Inman of the Oatmeal about his new project Exploding Kittens, a wildly imaginative card game that surpassed $4...
Play video