The next time you end a group dinner or outing with Ill Venmo you, check that you follow up promptly.
Why?
Because if you take more than a day or two to get that Venmo request sent, the person who owes you money might assume their debt is forgiven (or at least forgotten).
Take even longer, and you trigger the risk of putting your friend in a financial bind by asking for money theyve already spent on something else.
According toa survey Venmo conducted in 2019, 72% of respondents believe that Venmo requests should be sent within 24 hours.
(These respondents also believe that requests should be paid within 24 hours, but if you dont get your cash quite that quickly, 67% of those surveyed think it is appropriate to send a reminder after four days.)
The real issue here is making your friends aware of any outstanding debts as soon as possible, so they can plan their finances appropriately.
If you owed someone $50 for a group outingor even $5youd want to be able to include that expense in your budget, right?
If you dont keep a budget, well… you wouldnt want to be down to the last $100 in your checking account and then get a Venmo request to pay a friend $50 for a meal you shared three weeks ago.
So send your Venmo requests within 24 hours whenever possiblebecause if were going to keep literal tabs on our interpersonal interactions, its better for everyone if were efficient about it.
Oh, and while were on the subject: dont link your Venmo account to your credit card unless you want to pay a 3% fee every time you send money, and remember to make your Venmo transactions private.
