We have all been there, the check arrives, everyone looks at each other and whoever ends up paying spends the rest of their lives hunting down and threatening to break the legs of all those who didn’t. Luckily, these apps are making it much easier to handle bachelor party money. Try these apps and avoid having that awkward money conversation with the groom’s brother-in-law at the wedding.
The best thing you can do to collect money from the group is to collect the money before the night out. If you are loyal to using cash, remind the group a few times to bring cash for the evening.
Square is very easy to use. Attach a debit card to your account and write an email to the person you need money from with the amount in the subject line. CC firstname.lastname@example.org. Once the email is received they will be prompted to enter their bank account or credit/debit card information. You are limited to transferring $250 per week or $2,500 a week with identity verification. There are no fees for this service.
Paypal allows people with paypal accounts to exchange money through credit/debit cards or bank accounts. Sign up for Paypal.Me https://www.paypal.me. This provides you with a personal link you can email or text to your debtors. They click on it and pay you directly. There is a high limit of $10,000 for transfers. This service is free for bank account transfers but will cost 2.9% + $0.30 for credit/debit card transfers.
Venmo has a social media aspect that works well for friends who like to interact in this fashion. Options are available to post on a Facebook-like page where your friends can see that you just spent $300 on cigars. Users on both ends need to set up an account and will pay 2.9% for credit card transfers. The advantage over Paypal is that debit card transactions are free.
Google Wallet is convenient for gmail users. Just link your bank account or credit/debit card to your account and you are ready. There is a high transaction limit of $10,000 per transaction. Fees include 2.9% for credit/debit card transactions.
If all the apps in the world are not going to help you pay for this party, then check out this post for 5 bachelor parties under $50.