And it's important to know that according to Venmo (owned by the same company that owns PayPal) it is NOT intended for making commercial transactions, buying or selling things, etc.. What that means is that they offer absolutely zero protection in the event a transaction you made using Venmo goes bad.
The first time I used Venmo I was selling an old used car. Guy shows up to buy it, decides he wants it, we agree on $2000. He asks if I can accept Venmo. I was like, well I have PayPal, do you have PayPal? He didn't want to use PayPal, his daughter (who was there) had told him about Venmo and he wanted to use Venmo. I was like, sure if I can see you sent the money on your phone and I get confirmation in my account then that's fine. We both spend like 20 minutes installing Venmo, connecting to each other, he's trying to get his funds into his account, blah blah. So he shows me that he sent the money, I get confirmation on my phone, he drives away with my car.
Next day Venmo app tells me there is a hold on the funds, we need to verify our accounts. I verify my account right away. I text, call, leave voice messages for the guy telling him he needs to verify his account. Now, he doesn't have the money either, at this point. It is being held by Venmo. The guy takes his sweet *** time after I'm bugging him daily about this. He was nice and polite and answered my calls here and there, but he was in no kind of hurry and it took him like 9 days. Meanwhile I call Venmo customer support a few times. They tell me I need to get him to verify his account. I was like "ME?" I need to do this? I told them he was a guy who bought my car and I have no power to make him do anything. That's now my money and I'd like it please. Well, they made it nice and clear that Venmo is intended for "friends" to transfer money to each other. Not intended for commercial transactions and that money was going to sit in Venmo until the guy verified his account and that's that.
So anyway. If you are selling something or buying something DON'T USE VENMO! If you're chipping in on a pizza, sure. But don't use Venmo for business. That's not what it's for.