Recurring payments make our day-to-day activities easier. When set up, you can sit back and rest without having to worry about manually paying for your subscriptions and bills—everything is done automatically.
Venmo is a popular payment service that offers a couple of useful features to help sustain healthy finances in today's digital age and wondering whether Venmo offers an autopay option that lets users easily set up recurring payments is no new thing.
In this article, we'll see whether Venmo offers a recurring payment feature together with useful alternatives to your wishful recurring payment feature for app lovers.
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Does Venmo Offer a Recurring Payment Feature?
Venmo, the popular peer-to-peer payment app, is loved for its ease of use and social features. But when it comes to recurring payments, Venmo falls short. There's no built-in way to set up automatic payments at regular intervals—meaning, you cannot set up recurring payments on Venmo.
This can be a bummer for folks who use Venmo for:
- Rent and utilities: Setting up automatic payments keeps bills paid on time and avoids late fees.
- Subscriptions: Ditching manual renewals for gym memberships, streaming services, etc., is convenient.
- Regular contributions: Sharing rent with roommates, splitting bills with friends, or supporting recurring causes becomes more manageable with automation.
So, does this mean Venmo is useless for recurring payments? Not exactly! Let's see some workarounds and alternative solutions.
Workarounds within Venmo
While Venmo doesn't offer a recurring payment feature, there are some traditional features within the app that you can use as an alternative to a direct autopay feature:
- Reminders: Set calendar reminders to manually send payments at the needed frequency.
- Notes: Use the payment note section to record past payments and track due dates.
- Informal agreements: Communicate clearly with the recipient about expected payment dates and amounts.
Alternative Solutions to Venmo Recurring Payments
- Dedicated subscription services: This is for Venmo lovers who are looking for a convenient way to pay for subscriptions. You can explore platforms like Stripe, Chargebee, or Recurly designed specifically for managing recurring payments.
- Other Payment Services: Some other digital payment services (e.g., Square, Cash App, PayPal, and Zelle) offer an autopay feature that lets you set up recurring payments.
- Direct bank transfers: Set up automatic transfers through your bank for rent, utilities, etc.
- Bill pay services: Many banks and financial institutions offer billing features for managing recurring payments.
What About the Future of Venmo Recurring Payments?
While Venmo hasn't officially announced plans, the increasing demand for this feature makes it a possibility. We can wait and see, but the workarounds and alternatives listed above can help manage your recurring payments efficiently.
Remember:
- Choose a solution that aligns with your specific needs and comfort level with technology.
- Be mindful of fees associated with different platforms.
- Communicate clearly with the recipient about payment methods and schedules.
Do you have experience with Venmo or alternative solutions for recurring payments? Share your insights in the comments below!