BP 11122023 129pm - Flipbook - Page 153
⮚ Document the Venmo email and phone # and the associated
passwords.
⮚ Store the designated phone in a secured location.
⮚ Select all Security and Money options for Email Notifications and
Money in Text Notifications & Push Notifications to ON.
⮚ Select a day, such as every Monday morning, to transfer money from
Venmo to the bank account and pull statement. There may be a $
limit for transfers so multiple transfers may have to be made.
Transfer all of the money in full; do not use Venmo’s payment options.
Bank Transfer Timeline – Venmo
⮚ Select Private for Privacy settings. Donations should not be Public or
Friends.
⮚ Download the weekly Venmo statement to a CSV file and email to
business manager and the person that posts items to the offertory
database. Send a monthly report to SAS for reconciliation if
applicable.
FAQ’s
1.
Should the name and phone number of the Venmo charity account
automatically be connected to the personal Venmo account of the
individual establishing the account? (Example: The pastor has a Venmo
account, and the parish sets up a Venmo account with his name, the
parish account and his personal accounts are linked).
No - This scenario is a personal profile and is against Venmo policy for
use by businesses. Generally, payment processing systems that are set
up for non-profit use allow the user to set up the account in the entity
name and identify an Administrator.
2. Does a charity profile on Venmo require an accompanying personal
account?
No – a charity profile can be established with its own account not
linked to an individual person.
3. Is a PayPal account required in order to establish a Venmo Charity
Profile?
Yes – A PayPal account must be established prior to setting up a
Venmo Charity Profile.
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