Venmo is known for its versatile money-handling features and easy-to-use platform. With its easy to send and receive money property, more and more people in the US are preferring to use this application. It offers security, timely deposits, safety, and multiple monetary features to its users, at the free or the lowest cost ever. It doesn’t take charges to transfer funds to any bank account nor does it have any hidden charges. Along with such congenial features, it has also added a premium feature to its list- Venmo Group Account.
What is Venmo Group Account?
A Venmo group account is a common Venmo account that is shared by a group of people. It is useful for splitting bills, paying group EMIs, keeping a track of everyone’s contributions, etc. You can have a manager alongside the owner to manage everyone’s check-ins. You can be a part of a group account and see to it where your contributed funds are being used or transferred. Now if you have found it interesting and a handy feature and you want to experiment with it, we have got you covered. We will discuss all the aspects of a Venmo group account so that you do not miss out on anything.
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How to do Venmo group account login?
You just need to have credentials and access to a PC to get yourself logged in to your Venmo group account. Logging in to your group account is the same as logging in to your account.
Visit the group account login page groups.venmo.com and enter your credentials to log in. If you encounter any error while logging in to your group account, you should eye the following points:
- Look if you have entered the correct credentials for your account
- Check for your Internet connectivity
- Check if your Venmo server is down or not responding
- Make sure you are not logging in on your mobile device
Once you are in the group account, you can perform several operations based on your role assigned. The various positions in the group account are:
- Group Owner
If you are a group owner, you will be heavy with so many responsibilities. But with responsibilities, you will be accessible to many cool Venmo features. You will be able to send or receive money from/to your Venmo group account. You will be able to add or remove managers and will have a watch on every activity that is taking place in the Venmo account. The group owner can change the payment method of the group and can also view the transaction history. Also, if the balance gets negative, it is only the owner that has to pay for it.
- Group Manager
There can be 3 group managers in total. Group managers have similar role responsibilities as the group owner. They can move the money from account to account but they can not modify group settings. They can access the transaction history, account details, payment methods, and bank names.
- Group Member
Group members just stay active in the group and contribute their part. They have to pay their respective bills, they can like the transaction, look after the total funds collected, and request payment proofs and details from the owner.
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How to access Venmo group accounts?
Are you wondering why you are unable to access your group account on Venmo via your mobile phone? Well, it is to bring to your notice that Venmo has ended all the product group beta. You won’t be able to create a new Venmo group account on Venmo anymore. However, you will be free to use your existing Venmo group account from your PC web browsers. Your group account will stay active until you force deactivates it.
The basic question that arises is why the Venmo group account stopped functioning and denied new sign-in-ups. To promote and deliver rich quality service to its users, Venmo had been evaluating the feedback and usage of different Venmo users for their products. Hence, to meet the expectations of millions of users, Venmo has decided to bring down this feature as they looked at higher scops of promoting much better products and services than the Venmo group account.
It is a relief that existing group account funds are still safe as the Group owners and members can access their account until they shut it down permanently.
Now that you are a new user and want to open a Venmo account for an association or a club, you can opt for the Venmo business account. The business profile will help you reach a wider audience and cover major market customer segments. You can visit Venmo and look after how can you create your business profile on Venmo.
How to create a group Venmo account?
Follow the steps if you are curious to know about how to create a group Venmo account. The steps to be followed are mentioned below:
- Create a unique and authentic Gmail address for your group. You will be needed this at the time of sign-up
- Open the Venmo Group Account login page
- Sign-up using the email address you created
- Enter a specific group name that identifies the group
- Add a phone number, basically of a Group Owner (You can change it anytime if the role changes)
- Choose a username for your group account
- Add a bank account which will be your payment method and the money collected will be deposited in that same very account
- The Fund manager will have a look and manage all the account summary and fund-related tasks
- Set it up and let the other member know about it once you signed-in
This is the way how a Venmo group account is created. As of now, you can’t create any more group accounts but thankfully can access your existing group account (if any) via your PC or tablet.
How to set up a group Venmo account?
The group Venmo account is no longer supported on Venmo. You won’t be able to create any new group account but you can access any existing group account if you have one. Venmo has ultimately brought this change to deliver more premium service that meets the user’s requirements. So, Venmo has introduced the option of creating a business account for Venmo users who are a part of an association or own a business. The motive is to globalize your business by using one of the best finance applications in the UK.
Setting up a business profile is an easy task. It just requires a few basic steps to be followed:
- Launch the Venmo application or go to its official website and click on getting Venmo
- Click on Sign up
- Choose to Get Started from the next page that appears
- Enter your Name and your Business Mail ID
- Set up a strong password
- Click on Agree to proceed ahead
- Enter your contact number and proceed ahead
- You will get an OTP on the number you have entered
- Submit the 4-digit code for the verification process and click on Submit Code to finish the sign-up process
Once you are done with the steps above, you have to enter your business details to complete registering your business profile
- Business Name and Identity
- Employer Identification Number (EIN)
- Social Security Number (SSN)
- Information related to your business and category
- Business address
After you have registered all your details you will end up establishing a business profile on Venmo and use it to promote and enhance your business on a large scale.
Venmo groups alternative
What can be your go-to application if you want to split your money among your friends? We have brought to you some premium and easy-to-use applications, that can be the best alternative for Venmo groups:
- Splitwise – You can easily split your bills and pay to the required bank account via Venmo or PayPal
- Cash App – It is another leading money handling application in the US and it promotes easy and quick transfers along with access to the Cash App wallet.
- PayTM – You can create groups and split your money. Each person in the group will then be required to tap on the split money and pay the desired amount.
Can you create a group on Venmo?
You can not create any group on Venmo currently. Venmo has disabled the creation of Venmo group accounts but the ones that are made before can be used till it is deactivated by the owner itself.
Can multiple people access Venmo?
Yes, multiple people can access Venmo and the bank account linked to it. To do so, one must be added to a Venmo group account, and he can access the transaction history, send/receive funds, like the transaction, etc.
How do I request a group on Venmo?
You can not request a group on Venmo anymore. Venmo has denied a new creation group account to enhance their security and provide a liable customer experience by developing and adding new alternatives such as a business profile.