Venmo instead of cash or check?

Discussion in 'Band Management [BG]' started by brianrost, Jul 30, 2021.

  1. brianrost

    brianrost Gold Supporting Member

    Apr 26, 2000
    Boston, Taxachusetts
    Last night was the second time I was asked by the singer (who had booked the gig) for my Venmo address at the end of the night. The club was paying her by Venmo. Two years ago our very first gig was paid by check and she wanted to pay us by Venmo. I noticed last night she also put out a sign next to the tip jar advertising tipping by Venmo.

    But I don't have a Venmo account :meh:

    OK, I've been through this already with PayPal and eBay...I will not expose my bank accounts to these firms. If I thought I would be getting a lot of payments with Venmo I'd open a new bank acount just for that purpose. Twice in two years just isn't enough to bother with that.

    How many of you regularly use Venmo instead of cash and checks, either with venues or to split the take with the rest of the band?
    Artorious Rex likes this.
  2. ShadowGroover


    Aug 16, 2020
    You have the solution. Open a bank account specifically to receive electronic payments. Use it for eBay, PayPal, Venmo etc.

    It is the easiest answer. Keep the minimum operating balance and transfer everything else to a different account.

    Many have done this for 20+ years. It's easier to count who doesn't than who does.
    Last edited: Jul 30, 2021
  3. Hurricane Jimmie

    Hurricane Jimmie Supporting Member

    So Anyway, not much experience here. My BL was pretty Old School and didn't even have a credit card.

    We played a corporate gig a few years back that needed to pay us electronically (paypal?)....and no one was set up for it. I went ahead and did all the legwork because getting a check from them would need to go to their corporate office and take 90 days. I think there was a fee deducted from the payment. I now use Paypal for a lot of online payment. I don't use Venmo, but only because I haven't had the necessity.

    I would expect electronic payment to get more and more common as kids who grew up with it assume management positions in the hospitality industry. Will not having an electronic pay account cost you any gigs or miss any tips? Maybe, maybe not. But if a BL is hiring for a gig that they know will be electronic payment, it could be a factor.

    Good Luck with your decision.
  4. 4SG


    Mar 6, 2014
  5. nonohmic


    Dec 13, 2005
    ABQ, NM.
    > 50 million people use Venmo. You'll be fine.

    I just keep a minimal balance in my checking account in case of anything weird happening.
  6. mrcbass


    Jan 14, 2016
    Sacramento, CA
    Which means there are 100 million hackers trying to break into it....
    4dog, fleabitten, smogg and 4 others like this.
  7. nonohmic


    Dec 13, 2005
    ABQ, NM.
    And not straight into your bank?

    I'm sure Venmo has a better team working on it than my credit union, lol.
  8. BarfanyShart


    Sep 19, 2019
    DC Metro
    Every working musician I've come into contact with over the past 5 years (mostly lessons for my kids) only takes payment through Venmo, so I assume it has become a thing now in many places.
    Skillet, dkelley, TomB and 1 other person like this.
  9. Jazzkuma


    Sep 12, 2008
    Id say around 2015 I started using Venmo regularly and its pretty much replaced anything else unless its cash or there is a contract involved.

    never had a problem but then again, I only take venmo from people I know or work with.

    i would never take venmo for a online sale or from someone I have never met.

    Other countries also have their own versions of Venmo now so im pretty sure its become the standard way to send money for stuff like gigs.

    also, Venmo is not a savings account guys. I withdraw the money as soon as I receive it.
  10. smurfco

    smurfco Gold Supporting Member

    Mar 16, 2007
    Norwalk, CT
    Venmo is so good. I use it to buy and sell copies of Crocodile Dundee on VHS and DVD. Never had a problem.
    dkelley, Artman, Herrick and 3 others like this.
  11. sean_on_bass


    Dec 29, 2005
    Venmo is a godsend, and if i didn't have it i would had not gotten paid easily in a number of situations. Just get on Venmo.
    dkelley and Artman like this.
  12. SLO Surfer

    SLO Surfer

    Jun 3, 2009
    Los Osos, CA
    Yes to Venmo. Been paid for gigs through Venmo, PayPal and even the “cash” app as well.

    I don’t use it a lot, (maybe 1-3 times a year) but there are times when that’s how someone wants to give me money, and I want to be able to receive it.
    dkelley and 4SG like this.
  13. Slough Feg Bass

    Slough Feg Bass Supporting Member

    Sep 28, 2007
    San Francisco
    yup yup, do the Venmo/Paypal thing.
    I print out a few Venmo QR code things wherever we play, then I put them at the bar, in the bathroom, next to the stage, etc. You'd be surprised how easy it is to get a $10 tip on Venmo rather than someone having to dig into their wallet to give you cash.
    And yes, many venues pay electronically now.
    lildrgn, TexasHeat, Clark W and 5 others like this.
  14. Medicine Man

    Medicine Man

    Apr 10, 2015
    I mean, don't keep your life savings in a Venmo account, but so few people use cash these days. If you need to use cash to cook the books, stop doing it. Ive seen bums who take Venmo.
    dkelley likes this.
  15. Zak TMD

    Zak TMD

    Apr 22, 2016
    Outside of the heart of darkness, Washington, DC
    Breaking even is the new making money.
    We use Venmo for band expenses (practice space), merch sales, or even just paying each other back when one of us grabs tickets to a show or whatever. I routinely get paid through venmo for graphic design jobs (my side gig). Though I haven't had a venue ask to pay us this way yet (almost been cash monies on our side) we'd be fine with it.
    dkelley likes this.
  16. LBS-bass


    Nov 22, 2017
    Electronic payment is the current default. Sorry, but anyone still clinging to paper is way behind the times. I'm an old lady but I've been using electronic payment options for years and have yet to experience a problem with security. I currently have Venmo, Square, Paypal, Stripe and probably a few others I'm not remembering. Set these all up at various times so that my petsitting clients would never have the excuse that I'm too difficult to do business with.
    Skillet, murphy, dkelley and 4 others like this.
  17. skycruiser

    skycruiser Supporting Member

    Jan 15, 2019
    Isn't the same info you provide Venmo printed on the bottom of paper checks?
    dkelley, Artman, Lammchop93 and 8 others like this.
  18. basslayer


    Jan 3, 2008
    Beaverton, OR
    A lot people and places here (Portland Oregon) use Venmo and Cash app in general. A lot of businesses have the QR code posted for payment. If I didn't use these service I would miss out on payment. I have several bank accounts and the one associated with those services is only for stuff like that and my music stuff.
    dkelley and Ryan in PDX like this.
  19. Peteyboy


    Apr 2, 2018
    Los Angeles
    Your concern about security is legitimate but anyone who could hack into your Venmo account could surely hack into your existing bank account.
    Goatrope, pcake, Frampton and 2 others like this.
  20. Gothic


    Apr 13, 2008
    Don't even know what Venmo is.
    4dog, smarthound, Hounddog409 and 3 others like this.