Digital payment methods have increased significantly over the past few years. The easy-to-use and contactless payment options have favored the consumers and retailers equally. Venmo is also a digital payment method widely popular in the United States of America. People use it for their day-to-day purchases and other quick transactions. However, many customers wonder, “Does Venmo Work Internationally?” This question arises when someone wants to send money abroad.
Unfortunately, you cannot use Venmo for international transactions because it is only available in the US. Moreover, people from other countries do not have access to this app. The reason people ask for Venmo international transfer is that they do not want to pay hefty fees when transferring money via banks. A bank typically charges 3% to 5% of the transaction amount as a fee for international transfer.
Does Venmo Work Internationally?
The quick payment method of Venmo makes it a favorable option for consumers. However, there can be occasions when you have to send money to another country. You need to know whether you can Venmo someone in another country in this situation.
The quick answer is; no, you cannot Venmo international. Venmo is best to use in the USA and not available in any other country of the world. Due to this limitation, you will only be able to Venmo your friends in the USA. If you wish to send money abroad, you will have to work around other methods like using a bank transfer or the services listed below.
However, people often try to deter bank transfers due to the hefty transaction fees. Usually, a bank transfer from one country to another will cost 3% to 5% of the total amount.
Hence, consumers prefer to look for other easy and costless payment methods like Venmo. There are various other contactless payment options for sending money to another country. You can use them instead of making a bank transfer.
What Are the Alternative Options Other Than Venmo?
Venmo customers wonder regarding the availability of its services internationally. So, does Venmo work internationally? Unfortunately, you cannot make transactions like Venmo international. The limitation is that it is only available in the USA. Therefore, it does not support international money transfers.
Meanwhile, you can use alternative methods to transfer money to your friends and family abroad. These methods are different from the conventional bank transfer methods and are easy to use.
If you have to send money to your friends abroad from a method other than a bank transfer, keep on reading the article. Below we will discuss the top methods of sending money internationally as an alternative for Venmo.
If you are looking for a multi-optional international money transfer facility, Remitly is the top-rated one. It is available in 16 countries globally, such as the USA, the UK, Canada, Australia, Germany, Italy, Spain, Austria, Netherlands, Singapore, and Sweden. Moreover, you can send money to more than 50 countries in the world from these 16 countries where Remitly is available.
Remitly is very easy to use, just like Venmo. Moreover, it features a user-friendly interface. It has two modes of international money transfer. One is the economy, and the other is express. Remitly express makes the international money transfer instantly. However, it may cost more fee for the transaction.
On the other hand, Remitly economy is for those customers who do not want to pay higher fees. This method of money transfer has a meager transaction fee. However, it may take 3 to 5 days to complete the transaction.
OFX is the best-suited option to send larger sums of money without increasing the fee for transactions. It is the alternate option for Venmo international. OFX is available in the USA, UK, Canada, Australia, New Zealand, Singapore, and Hong Kong.
The intriguing thing about OFX is that you can use it from these countries to send money to 190 countries worldwide. Moreover, it charges a fixed fee of $15 to send money internationally regardless of the transaction amount. In addition to money transfer, you have the option to send money in 55 different currencies.
This digital payment method is available in approximately 59 countries, and it supports international transactions in more than 60 countries globally. Unlike the costly bank transfer fees, Wise charges fees ranging from 0.4% to 1% of the transaction amount.
There are no hidden charges in regards to Wise international money transfer. It is a transparent method for money transfer with the least fees compared to other payment methods.
People’s obsession with Venmo is justifiable since it is a very easy and quick payment method. It has caught customers off guard when they try to send money internationally using Venmo. So, can you Venmo internationally?
The bad news is that Venmo is only available for use in the USA. Therefore, it is not available for making international transactions. However, you can use WorldRemit for the desired purpose since it is also a widely famous digital payment method.
WorldRemit is available in more than 40 countries, and it can transfer money to more than 150 countries of the globe. Moreover, it has a fixed fee for transactions ranging from $3.99 to $24.99. The fee depends on the currency and amount of the transaction.
XE is another top-rated digital payment method. It is available in many countries and offers money transfer features for more than 170 countries. Moreover, it supports the currencies of as many as 60 countries. The fee per transaction of XE may vary from 0.3% to 1.2% of the transaction amount. Furthermore, the fee decreases with the increase in the number of transactions.
Does Venmo Work Internationally? Final Thoughts
Venmo is one of the most famous digital payment methods in the USA. It allows you to send money to your friends and family instantly without fees. Moreover, you can also pay for your purchases at the POS. However, can Venmo be used internationally?
No, you cannot use Venmo to send money internationally. You will have to opt for other methods for this purpose. The above-discussed methods are way faster and less costly than international bank transfers. Hence, the bottom line is that these methods are way cheaper and alternate to Venmo.