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Thanks to Venmo, We Now All Know How Cheap Our Friends Are

nytimes.com

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Re: Thanks to Venmo, We Now All Know How Cheap Our Friends Are

#141

Post by regulation_d »

detaro wrote: post #134
regulation_d wrote: post #125

Earlier quoted context omitted.

In what way? Is small, easy P2P payments a solved problem in Europe?

Bank transfer. No fees, fast enough (at least inside a country next business day, I think internationally it's allowed to be a bit slower?), if you want to do it mobile there are enough banks that have apps.

I can do bank transfers from my bank, but I feel awkward saying, "hey, can I get your routing and account number?" Even if I didn't feel awkward, with Venmo and Square Cash, I have all the information I need if either we're FB friends or have their email address.

Re: Thanks to Venmo, We Now All Know How Cheap Our Friends Are

#142

Post by vowelless »

extr wrote: post #77

Young millennial male, every single person I know uses Venmo. IMO this article largely misses the point of the app. It's replaced cash/checks is all, it's not some huge social upheaval in the way we use money that needs to be analyzed. In my experience it's rarely used for splitting bills for dinner or picking up bar tabs (I can't remember the last time I went somewhere that wasn't able to split the bill on their end…

I got my landlord onto Venmo to pay utilities. She wanted a check slipped under her door. That wasn't happening. Now she just requests the amount every month and all I have to do is tap "Pay".

Re: Thanks to Venmo, We Now All Know How Cheap Our Friends Are

#143

Post by [deleted] »

rc_kas wrote: post #117
extr wrote: post #77

Young millennial male, every single person I know uses Venmo. IMO this article largely misses the point of the app. It's replaced cash/checks is all, it's not some huge social upheaval in the way we use money that needs to be analyzed. In my experience it's rarely used for splitting bills for dinner or picking up bar tabs (I can't remember the last time I went somewhere that wasn't able to split the bill on their end…

"every single person I know uses Venmo" How does that happen. I don't know a single person who uses Venmo. Not one. I know a lot of people and I work in Tech.

[deleted]

Re: Thanks to Venmo, We Now All Know How Cheap Our Friends Are

#144

Post by rjbwork »

rc_kas wrote: post #117
extr wrote: post #77

Young millennial male, every single person I know uses Venmo. IMO this article largely misses the point of the app. It's replaced cash/checks is all, it's not some huge social upheaval in the way we use money that needs to be analyzed. In my experience it's rarely used for splitting bills for dinner or picking up bar tabs (I can't remember the last time I went somewhere that wasn't able to split the bill on their end…

"every single person I know uses Venmo" How does that happen. I don't know a single person who uses Venmo. Not one. I know a lot of people and I work in Tech.

I only know 1, I also work in tech.

I, have found developers and other tech workers to be, somewhat ironically, more "Ludditic" than the general population.

Re: Thanks to Venmo, We Now All Know How Cheap Our Friends Are

#145

Post by detaro »

regulation_d wrote: post #141
detaro wrote: post #134

Earlier quoted context omitted.

Bank transfer. No fees, fast enough (at least inside a country next business day, I think internationally it's allowed to be a bit slower?), if you want to do it mobile there are enough banks that have apps.

I can do bank transfers from my bank, but I feel awkward saying, "hey, can I get your routing and account number?" Even if I didn't feel awkward, with Venmo and Square Cash, I have all the information I need if either we're FB friends or have their email address.

Not an issue here (at least not in my circles, I couldn't even name any app like Venmo that's available here. Maybe Paypal has features like that by now, I see advertisements from them occasionally, but it never has come up, so I guess figuring out what apps the others use would be more hassle)

Re: Thanks to Venmo, We Now All Know How Cheap Our Friends Are

#146

Post by djur »

tunetine wrote: post #135
ac29 wrote: post #101

Earlier quoted context omitted.

>Perfectly normal for any groups I've ever eaten with. Easy to ask the server to split the bill. Try that with a group of 8-12 people, especially if they all want to be charged different amounts. Some places will do it, but many wont. A lot easier for one person to pay, and others to pay them back with cash (or one of the million free payment apps like Venmo).

Where does this happen? If they want their money, they will split it and do what they have to do.

Plenty of restaurants have policies limiting how many ways they'll split a check.

Re: Thanks to Venmo, We Now All Know How Cheap Our Friends Are

#147

Post by thanksgiving »

jamescostian wrote: post #129
rc_kas wrote: post #117

Earlier quoted context omitted.

"every single person I know uses Venmo" How does that happen. I don't know a single person who uses Venmo. Not one. I know a lot of people and I work in Tech.

I'm 19 and most people I know use Venmo. I'm curious - around what age are your friends? My parents don't know what Venmo is, and I don't think many of their friends (most in the age range of 40-60) do either.

> I'm 19 and most people I know use Venmo. I'm curious - around what age are your friends? My parents don't know what Venmo is, and I don't think many of their friends (most in the age range of 40-60) do either.

Made in 1987 here. I have Paypal as well but I prefer Google Wallet. Google Wallet is directly connected to my bank account. I don't trust Paypal to connect it to my bank account. Why would you trust Venmo with your bank account I would never know. Am I... am I too old and too conservative?

Re: Thanks to Venmo, We Now All Know How Cheap Our Friends Are

#148

Post by Sir_Substance »

regulation_d wrote: post #125
mpweiher wrote: post #105

Earlier quoted context omitted.

It does. (European, lived 8 years in the US in 2 installments of 4 years each).

In what way? Is small, easy P2P payments a solved problem in Europe?

Yes. Iceland has a system called the kennitala. It's kind of like a social security number, except not secret.

If you give me your kennitala and your bank account number (10 digits), I can send you any amount of money, no lower limit (there might be an upper one, I haven't tried buying a house GIRO) without paying a fee, regardless of which bank you're with.

When I sign a rental agreement with my landlord, I give him my kennitala and no other details. He sets up a recurring payment request linked to my kennitala. Every month, the bill shows up in my account with a request to pay it, but it's not like a credit card charge, it's merely a request for payment, kind of like the inverse of me inputting my landlords bank details and kennitala myself. I can ignore it if I want to.

Because the kennitala is independent from the bank, I can change banks and my landlords rental bill, along with all my utilities bills, will automatically start showing up on my new account without anyone doing anything.

Re: Thanks to Venmo, We Now All Know How Cheap Our Friends Are

#149

Post by Sir_Substance »

regulation_d wrote: post #141
detaro wrote: post #134

Earlier quoted context omitted.

Bank transfer. No fees, fast enough (at least inside a country next business day, I think internationally it's allowed to be a bit slower?), if you want to do it mobile there are enough banks that have apps.

I can do bank transfers from my bank, but I feel awkward saying, "hey, can I get your routing and account number?" Even if I didn't feel awkward, with Venmo and Square Cash, I have all the information I need if either we're FB friends or have their email address.

>Even if I didn't feel awkward, with Venmo and Square Cash, I have all the information I need if either we're FB friends or have their email address.

Unless you want to send money to someone who isn't using those services.

Re: Thanks to Venmo, We Now All Know How Cheap Our Friends Are

#150

Post by brandonmenc »

rc_kas wrote: post #117
extr wrote: post #77

Young millennial male, every single person I know uses Venmo. IMO this article largely misses the point of the app. It's replaced cash/checks is all, it's not some huge social upheaval in the way we use money that needs to be analyzed. In my experience it's rarely used for splitting bills for dinner or picking up bar tabs (I can't remember the last time I went somewhere that wasn't able to split the bill on their end…

"every single person I know uses Venmo" How does that happen. I don't know a single person who uses Venmo. Not one. I know a lot of people and I work in Tech.

Are you an old?

I didn't use it until I shared an apartment with some friends who were ~15 years younger than me. Every single one of their cohorts used it, all the time.

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