justin142smith

Right Now

How to Add Money to Venmo? Explained All Methods

Venmo is the ideal mobile solution to split bills and send funds between friends and family.

If you are Wondering How To Add Money To Venmo let's take a look at the many options on this PayPal-owned app.

What is Venmo?

Venmo is a mobile payment app that has a twist. It allows you to pay and receive money in a matter of seconds. Its main purpose is to split bills and make payments between family and friends.

Since PayPal owns the app, it works with many sites, apps, or retailers that accept PayPal.

Its unique feature is social payments. A feed displays your financial transactions and purchases with your friends. This adds a fun element to shopping and sharing purchases. You can also use it to promote charitable causes or side businesses.

It's a popular choice for almost everyone. These are some of the reasons it is so popular:

Its inclusion of crypto
A generous cashback card
All the top-of-the-line features you would expect from a mobile payments app

If all of your friends are using Venmo, then you might want to learn how to transfer money into Venmo.

How do I add money to my Venmo account?

There are many ways to add money to Venmo. A balance can be maintained in your account just like a PayPal account or a bank account. These funds can be used to make any purchase.

Alternatively, you can pay directly using other accounts without having to maintain a balance in the app.

Transferring funds from your bank account is the easiest way to add money to Venmo. One drawback to this is that Venmo will require you to first be approved for Venmo’s Mastercard debit card. Here's how it works.

Bank Account

To transfer money from a bank into Venmo, you first need to link your bank account with the app. This should be a regular checking account to avoid any problems. This should not be a savings account or any other type that may have difficulty transferring funds quickly.

To link your bank account:

First, go to the "Me" tab
For settings, hit the gear icon
Swipe down to "Payment Methods" then tap "Add a bank card or bank account"
Enter your bank account details including routing and account numbers.

Linking your Bank Account to Venmo

You will need to verify your account before you can transfer money into your Venmo balance.

If you're willing to provide your online banking username, password, and login information, linking your bank can be done immediately. Venmo uses Plaid to access your account. This is an encrypted method. It checks your identity to verify that you have sufficient funds for payments.

This form of verification is not accepted by all banks. The second option is to do a micro-transfer. This type of transaction may be used to verify PayPal or other online financial transactions.

Venmo will take two small deposits, each less than $1, and then withdraw the funds. This process can take between 1 and 3 days. Once all payments have been cleared, your account will be verified.

Venmo recommends that you have a minimum of $2 in order to conduct the verification process. This is because banks might process repayments before deposits clear.

You can now make Venmo payments directly from your bank account. Verified accounts are able to make combined transactions up to $4,999.99 per Week. However, a single transaction cannot exceed $2,000

How do I transfer money from my bank to Venmo?

You can add funds to your Venmo account by adding funds from your bank if you have a Venmo Debit Card (see below). This is how you do it:

Tap the "Me" tab to go to "Manage Balance"
Then tap 'Add Money' or 'Add or Transfer' depending upon your app version
Enter the amount

Click on the bank account that you have previously added to confirm the transaction. The process of adding to your Venmo account can take 5 working days.

You don't have to keep a Venmo account balance. Most people do not choose to. You can tap the payment icon in the top right to use your bank's account as the source of a backup payment.

Venmo balance funds will be used first if they are available. Any amount remaining will be taken out of your backup, in this instance your bank.

You can use your bank to pay if you have a zero balance

With a Debit Card

The process of adding a debit card to your bank account as a payment method is the same as adding a bank account.

Go to Settings
Then to "Payment Methods"
Tap to 'Add a Bank or Card'. Then choose 'Card'.
Then, enter your card details either manually or by using the photo scanning feature

You don't need to verify your card as with a bank account.

How do you add money using a debit card to Venmo?

This option is not available if you have Venmo’s official debit card account. You will need a linked bank account to do this.

To make a payment directly from your debit card:

Tap the payment icon in the top right
Select a contact to add or remove a recipient
Select your card to be a 'Backup Payment'

The card will immediately become the payment source if you do not maintain a sufficient balance.

With a Credit Card

Follow these steps to add money to Venmo using credit card accounts:

Go to Settings, then Payment Methods
Tap to 'Add a Bank or Card'. Then choose Car'.
Then, enter your card details either manually or by using the photo scanning feature

Verification is not necessary as long as the Venmo account name matches the one on your card.

To make a payment directly from your credit card:

Tap the payment icon in the top right
Select a contact to add or remove a recipient
Use your credit card to make a backup payment'

If there is no Venmo balance, your credit card will be used as the payment source.

You cannot use a credit card to fund your Venmo balance. These payments are not considered cash advances or purchases.

Also, credit card payments are subject to a 3% Venmo fee unless you purchase from one or two select outlets.

An alternative option is to apply for Venmo’s Visa credit card, which comes with tons of benefits.

Other ways to add money to Venmo

We've provided the most popular answers for how to add money to the Venmo App. But there are many more. Let's have a look at these:

Venmo Debit Card

Venmo has its own Mastercard debit card branded by Venmo. You can use it to fund your Venmo account and then spend the balance. It can be used anywhere in the United States that allows contactless payments.

How to apply for a Venmo Mastercard

The Cards tab of the app allows you to apply for the card.

You need to provide:

Your name
Address
Date of birth
A scan or clear photograph of any identity document (can include a passport, driver’s license, or other US government-issued ID).
You may be required to provide proof of address and your SSN.

There are no rigorous credit checks since this isn’t a credit card. The majority of US adults will be approved. However, it is important to verify your identity.

How do I load money on Venmo using a Bank Account?

You can top up your Venmo account balance with your bank account if you have a Venmo debit card. Instead of making purchases or transferring money directly to your bank, deposit funds from your bank into Venmo and keep them there for future use.

This is how you do it:

Tap the "Me" tab. Next, tap "Manage Balance".
Click to 'Add or transfer'
Enter the amount you wish to pay and choose your bank account

The funds should arrive within 3 to 5 business days.

You will see the option labeled "Instant" in your feed if you were one of the lucky recipients of the Instant Money feature. The bank transfer will be available immediately. It may take up to 3-5 business days for your bank statement to reflect the transfer.

This method is only available for $500 per week.

Venmo Debit Card Reload

You may now be wondering if you can add cash to your Venmo card.

Your Venmo balance is the sum of all funds that have been sent to you and/or transferred from your bank account. This balance will be withdrawn automatically whenever you use your Venmo card online or in-store.

If your Venmo balance is not sufficient to cover the purchase, your card can use your bank account as a backup source. You must enable "reloads". It functions just like a regular debit card from a bank.

It will fund Venmo in increments equal to $10 regardless of the purchase price. Venmo will not take $45, but $50 from your bank if you have a $10 balance and spend $55. Venmo will keep the $5 extra in your Venmo account.

To turn on reloads

Go to the Debit Card Section of the app
Tap the Venmo Card Image
You'll be able to toggle reloads off or on.

For transactions to be smooth, you need enough money in your bank account for both the amount that you are spending and the $10 increment.

There are currently no Venmo reload points where you can top-up your account balance. In-app bank transfers are available to fund your Venmo account balance. You can also make a purchase using Venmo debit cards to trigger a recharge.

Venmo Cashback Credit Card

How to add funds to Venmo free of charge? Venmo offers a Visa Credit Card that you can apply for through the app.

You will need to provide proof of identification and personal details for the debit card. To determine your eligibility, a credit check will also be performed.

All applicants will be granted a credit limit of up to $250.

You can get the best credit card perks if you're approved. These include:

Up to 3% Cashback on Groceries
Save 2% on your bills and utilities
All other purchases 1%

Cashback is not like other credit cards and will be added to your Venmo account.

FAQs

How can I make money with Venmo

linking Venmo to your bank, debit, or credit card is the best way to load money. You can then send money or pay directly for your purchases.

To keep an app balance, you will need to first be approved for a Venmo Debit Card. You can then transfer as much money from your bank account as you like.

Venmo will grow if you get money from other people.

Where can I load money onto my Venmo Card?

You can't load your Venmo debit cards in a physical location or store. The card takes funds from your In-App Venmo balance. This can only be funded via bank transfer or by receiving money directly from another Venmo user.

You can still make Venmo purchases that exceed your balance. This can be done by activating the "reloads" option. The excess amount will be taken from your bank account immediately.

Can I immediately add money to my Venmo Account?

Want to instantly add money to Venmo? Only a few users who have a Venmo debit card have been selected to access the Instant Money feature. This feature is currently not available for everyone and has a weekly limit. However, it will be fully rolled out in the next months.