Apple Cash vs. Venmo

[Annie_M]

I "think" I'm closer to convincing my husband that we should use either Apple Cash or Venmo. I'm leaning towards Apple Cash, but might consider Venmo as well. I would love feedback and/or suggestions about this, so that I have facts to make my case!

 

[kataran]

I "think" I'm closer to convincing my husband that we should use either Apple Cash or Venmo. I'm leaning towards Apple Cash, but might consider Venmo as well. I would love feedback and/or suggestions about this, so that I have facts to make my case!

I‘ve heard of Venmo but have little idea how it’s different from Apple Cash or is there a difference?

 

[Annie_M]

I‘ve heard of Venmo but have little idea how it’s different from Apple Cash or is there a difference?

My impression is that they are quite similar. I'm leaning towards Apple Cash because I "trust" Apple more. My primary reason for wanting to do this is to be able to send money easily to my nieces & nephews on their birthdays. When they were younger, there were birthday parties and it was easier to give gifts in person. Now, they're scattered all over and this would be easier for them. From what I can tell, there are no fees for either, which is definitely a good thing.

 

[Ledsteplin]

My impression is that they are quite similar. I'm leaning towards Apple Cash because I "trust" Apple more. My primary reason for wanting to do this is to be able to send money easily to my nieces & nephews on their birthdays. When they were younger, there were birthday parties and it was easier to give gifts in person. Now, they're scattered all over and this would be easier for them. From what I can tell, there are no fees for either, which is definitely a good thing.

Why would you trust Apple more. Venmo, Cash App, PayPal, etc are basically the same as banks. You trust Apple more than your bank?

 

[Not Quite Right]

Why would you trust Apple more. Venmo, Cash App, PayPal, etc are basically the same as banks. You trust Apple more than your bank?

Fear of the unknown ... She obviously has no experience with any of the apps, but does have experience with Apple and their services in general, I would imagine issue free. (I know I would trust to pet a dog that has never bit me, before petting one that I had never met before).
Annie all of those apps will work fine, they are more alike than they are different. Apple Cash/Apple Pay has the benefit of being integrated into the Apple ecosystem to which you are already familiar with, so there's next to no learning curve ...
https://forums.imore.com/e?link=htt...Fwww.apple.com%2Fapple-cash%2F&token=hZ0pk9qY

 

[Annie_M]

Fear of the unknown ... She obviously has no experience with any of the apps, but does have experience with Apple and their services in general, I would imagine issue free. (I know I would trust to pet a dog that has never bit me, before petting one that I had never met before).
Annie all of those apps will work fine, they are more alike than they are different. Apple Cash/Apple Pay has the benefit of being integrated into the Apple ecosystem to which you are already familiar with, so there's next to no learning curve ...
https://forums.imore.com/e?link=htt...Fwww.apple.com%2Fapple-cash%2F&token=GNw3VOS8

Thank you! Your interpretation of my reason for asking is perfect!

 

[EdwinG]

I have to ask this tangential question: don’t the people in the USA have direct bank-to-bank electronic money transfer?

It’s a service that most (all major) banks have where I live where I can send money to another individual by email (or SMS) and the recipient deposits the funds into their bank account. You can even do auto-deposit which reduces the phishing/SMShing risks.

 

[Annie_M]

I have to ask this tangential question: don’t the people in the USA have direct bank-to-bank electronic money transfer?

It’s a service that most (all major) banks have where I live where I can send money to another individual by email (or SMS) and the recipient deposits the funds into their bank account. You can even do auto-deposit which reduces the phishing/SMShing risks.

To be honest, I have no idea! LOL! It’s definitely something I will look in to ??????

 

[Ledsteplin]

I have to ask this tangential question: don’t the people in the USA have direct bank-to-bank electronic money transfer?

It’s a service that most (all major) banks have where I live where I can send money to another individual by email (or SMS) and the recipient deposits the funds into their bank account. You can even do auto-deposit which reduces the phishing/SMShing risks.

If it's the same bank, yes. But there's a fee for transferring to a different bank.

 

[EdwinG]

If it's the same bank, yes. But there's a fee for transferring to a different bank.

Crikey :cant-watch: !

 

[SwitchBeach]

If it's the same bank, yes. But there's a fee for transferring to a different bank.

Many banks support Zelle. There's no fee to transfer money to someone using Zelle even if they have an account at a different bank (in the US).

 

[Just_Me_D]

Many banks support Zelle. There's no fee to transfer money to someone using Zelle even if they have an account at a different bank (in the US).

This is true. In addition, Zelle is built-in to current banking apps like Bank of America.

 

[iOS Gravity]

I'd say Venmo is better because its more widely used than Apple Cash.

 

[MrMars]

I’ve been using both Apple Cash and Venmo for years and have no complaints about either. I’d say I use Venmo more often as it’s supported by both IOS and Android.

I have used Zelle but much less frequently.

 

[Annie_M]

I think I will use Venmo because it's what my nieces and nephews use. Zelle is another possibility!

 

[MrMars]

I think I will use Venmo because it's what my nieces and nephews use. Zelle is another possibility!

It’s what all the cool kids are using

 

[Up_And_Away]

Someone repeatedly uses Apple. The experience is straight forward and without issue. Of course that experience would provide trust in that company/process.

 

[Up_And_Away]

Most of my experience with Apple Cash is only to the extent I use my Apple Card’s cash reward for point of sale purchases using the Apple Cash. For that specific process, it is as good as it gets. Imho, If you’re looking to spread cash and credit lines(Apple Card) around to family, and if they all have iPhones, this is going to be very hard to beat due to the speed and simplicity of purchase, reward spending, control, and I believe balance refresh. But If there are family involved without iPhones, the alternative is obviously the much better choice.

 

[Ledsteplin]

Many banks support Zelle. There's no fee to transfer money to someone using Zelle even if they have an account at a different bank (in the US).

Yes, I forgot Zelle. And I keep hearing about Zelle scams, and the banks offer no fraud protection from that. There's apparently no way to reverse Zelle payments. I used Zelle one time.