[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]