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Cash App and Venmo are both popular mobile payment apps that allow users to send and receive money digitally. Here are some of the key differences between the two:
1. Fees: Cash App charges a 3% fee for sending money using a credit card, while Venmo charges a 3% fee only if you use a credit card to send money. Both apps charge no fees for sending or receiving money using a debit card or bank account.
2. Instant Transfer: Cash App allows for instant transfers for a fee of 1.5%, while Venmo offers a similar service called Instant Transfer for a fee of 1%.
3. Withdrawal Options: Cash App offers the ability to withdraw funds instantly to a linked debit card or bank account, while Venmo only offers the option to withdraw funds to a linked bank account, which can take up to 1-3 business days to process.
4. Payment Limits: Cash App has a limit of $1,000 per week for sending and receiving payments, while Venmo has a limit of $4,999.99 per week.
5. Additional Features: Cash App offers additional features such as the ability to buy and sell Bitcoin, invest in stocks, and receive a Cash Card debit card. Venmo, on the other hand, offers social features such as the ability to see and like friends' transactions and make payments using emojis.
In summary, both Cash App and Venmo offer similar services, but there are some differences in fees, withdrawal options, payment limits, and additional features that may make one more appealing to users than the other. It ultimately depends on personal preferences and which features are more important to the individual.