How to Protect Personal Information on Venmo

When it comes to online payments and bank funds, every one of us should be careful of our online privacy. 

Millions of transactions are done every single day on apps like Venmo and Cash App to send or receive money from friends and loved ones. 

Even though these payment gateway apps are super convenient, most of these online payment apps are prone to data leaks. 

Hackers and scammers might target your Venmo accounts and withdraw money into their personal account. 

Venmo is a widely used mobile payment service with over 70 million users in the United States alone. While it offers a convenient way to transfer money, it also poses significant privacy risks. 

In 2022, millions of Venmo transactions exposed sensitive details, highlighting the need for better privacy practices.

In this blog, we'll explore effective strategies to protect your information on Venmo, helping you navigate the app safely while keeping your financial details protected.

How Does Venmo Collect Your Data?

Venmo collects your data through various methods, including your device's IP address, cookies, and information you provide when you create an account or use the app.

Types of Information Venmo Gathers

Personal Information

Venmo collects your name, email address, phone number, and bank account details when you sign up.

Transaction Data

Every transaction you make, including the amount, date, and recipient, is recorded.

Location Data

Venmo tracks your location whenever you access the app.

Device Information

Details about the device you use, including IP address and operating system, are collected.

Usage Data

Venmo monitors how you interact with the app, including the features you use most frequently.

PSA- this is all the data Venmo has access to once you connect to bank including all bank statements and account numbers. pic.twitter.com/73SHj1PxAu

— Monica Matthews On Air (@monicaonairtalk) May 29, 2022

Why Understanding Venmo's Privacy Policy is Important? 

Data Sharing

Venmo shares your data with third-party companies for various purposes.

Privacy Settings

Understanding how to customize your privacy settings can prevent unwanted exposure of your transactions.

Data Retention

Venmo keeps your data even after you stop using the service.

Security Measures

Knowing Venmo's security protocols helps you understand how your data is protected.

User Responsibilities

It's essential to know your role in maintaining privacy on the platform.

How to Protect Your Personal Information on Venmo

Adjust Privacy Settings

Change your transaction visibility to "Private" so only you and the recipient can see the details.

Use Strong Passwords

Ensure your Venmo account is secured with a strong, unique password that isn’t used on other sites.

Enable Two-Factor Authentication

Add an extra layer of security by enabling two-factor authentication (2FA) on your Venmo account.

Monitor Transactions Regularly

Keep an eye on your transaction history for any unauthorized activity and report it immediately.

Be Cautious with Public Wi-Fi

Avoid using Venmo on unsecured public Wi-Fi networks, as these can be exploited by hackers.

Protect Your Online Transactions from Fraud and Theft 

PurePrivacy is an essential app to enhance your online privacy, especially when using payment services like Venmo. Here’s how it can help:

• Prevent online tracking and stop data collection using the Tracker Blocker.
• Send regular requests to remove your info from data brokers with the Remove My Data feature.
• Improve your privacy on social media platforms with the Social Privacy Manager.
• Keep your personal information safe from identity theft with Dark Web Monitoring.

Check the Dark Web for Leaked Information

Scan the dark web for your data and get alerts if your information is found, so you can take action quickly.

Stop Internet Trackers and Protect Your Data

Prevent websites and third parties from tracking your online activities and collecting your data for ad agencies or government surveillance.

Remove Personal Information from Data Brokers

Send removal requests to 200+ data brokers automatically, making sure they delete your information from their database.

Improve Your Social Media Privacy

Use PurePrivacy to review and upgrade your social media privacy settings, making your online security stronger across all platforms.