With Venmo, you can take the money directly from their savings account as long as they “trust you.”
What is Venmo? It’s a cellphone app that lets you send and receive money from friends, without all any hassle. You sign up, invite your Google contacts(or any contacts for that matter), validate your call phone number, and then validate your bank account. It’s probably about 9 minutes of work upfront but just THINK of the benefits.
Once friends accept, you can “trust” one another — which means that you can text the amount they owe you and you’ll automatically be reimbursed from them. And vice versa. The idea, of course, isn’t that you’ll incorrectly charge your friends/roommate(you can revoke any ‘trusted charge’ within 24 hours), so much as you won’t need to worry about flakiness. Or whether you can break a $20 to pay for the electric bill.
Venmo is still in beta stage, so you need a referral code( LearnVest22). I found out about Venmo through the LearnVest newsletter (hence the referal code), which specializes in finding ways to help its readers save mula. So far, it’s been a pretty helpful resource, so do check that out as well if you have a minute.
Happy Text Transferring!