According to recent research, consumers are 19% more likely to make a purchase using Venmo compared to traditional payment methods. That’s not a big surprise — as one of the top mobile money transfer apps in the US, Venmo provides a quick, secure way to transfer money, offering a mobile payment service for easy peer-to-peer transactions. Users can effortlessly send money, split bills, and enjoy a social network for messaging and updates.
What about other features? Can you add money to Venmo from your bank account? Spoiler: yes, you can, but there are some nuances you should keep in mind. This brief guide covers what you need to know about using Venmo for payments and money transfers, including how to add cash to Venmo via a bank account or card.
Connecting Your Bank Account or Card to Venmo
If you haven't worked with the venmo how does it work you can learn with our previous article.
If you already have a suspended venmo account, you must first go through all the steps to unblock it.
Bank Account
Struggling to understand how to put money in Venmo using a bank account? First of all, you’ll want to connect a bank account to your Venmo profile. Before doing so, it is important to find out the answer to the question does venmo have a limit and what exactly is it. Here’s a detailed, step-by-step walkthrough to help you do just that, whether you’re on your computer or using the mobile app.
If you are using a PC, then you need to find the “Link a bank account” page on the company’s website and then just follow the guide.
If you’re on a mobile device, here's what you need to do:
- Go to the Venmo app and go to the “Me” tab;
- Open your Wallet;
Select the “Add a bank or card…” option and click on “Bank;”
Decide on the verification method and go through authorization.
Last but not least, once you’ve connected your bank account, be sure to verify it before making any transactions to avoid losing money transfers due to incorrect bank details.
If you are worried about the question can your venmo get hacked, we recommend that you read a separate article on our website.
Credit & Debit Card
If you’re wondering how to transfer money into Venmo with a credit card, the first thing you should do is add a debit or credit card to your Venmo account. To do this using a PC, you need to follow these steps:
Open payment options in your profile;
Select “Add bank or card;”
Tap “Debit or Credit Card” and enter your card details.
To add a debit or credit card to your Venmo profile using the mobile app, you need to follow these instructions:
- Go to the Venmo app and go to the “Me” tab;
- Open your Wallet. You can learn how to open a venmo account in our previous article;
- Select the “Add a bank or card…” option and click on “Card;”
- Enter your card details.
If you're interested in what does venmo charge for business transactions, you can check out our previous article on the subject.
Depositing Money into Venmo from Your Bank or Card
You may ask, “How to add money to my Venmo account?” Let us say right away that it is easy to do. However, the critical point is that only users who have a Venmo debit card can add money to a Venmo account from a linked bank account and debit or credit card. It is also worth understanding does venmo charge a fee and what the exact of this. If you already possess a Venmo card, topping up your balance directly through the app is straightforward.
So, here’s how to send money to Venmo from a bank account or card:
Open the app and click the “Me” tab;
Find the “Wallet” and select the “Manage Balance” option;
Click “Add Money”;
- Select the linked bank account or bank card that you want to fund your Venmo from;
- Enter the amount and click “Add”.
Please note that if the money is credited from a debit or credit card, the transaction will be completed instantly. But if a bank account was selected for depositing funds, the money will be credited to your balance within a few business days.
If you want to compare this payment system with others and choose the best option, for example, with paypal or venmo, you need to take into account all the disadvantages and benefits of venmo and paypal.
Final Thought
In this article we’ve discussed the nuances of how to add money to Venmo, and as it turns out, it is an easy thing to do. The only point you should consider is that you will need to not only link a bank account or card to your Venmo profile but also open a separate Venmo debit card to be able to deposit funds into your app balance. Then, all you have to do is follow the simple instructions we’ve outlined.
Overall, Venmo is a simple, convenient, and secure payment system and money application for P2P transactions. In addition to the standard functionality, Venmo also offers a large number of unique features that make this app one of the best mobile payment services on the US market. One way or another, the best and only correct way to discover all the benefits of working with Venmo is to give it a try.
FAQ
What are the fees for using Venmo?
Venmo’s basic functionality is free for standard banking transactions and personal user-to-user transfers. However, certain operations are subject to a fee — for example, for credit card transactions, you will have to pay an additional 3%, and for instant transfers, you will pay a 1% fee.
How do I get a Venmo debit card?
The Venmo debit card works in the same way as a regular bank debit card. Before you register for the card, you need to verify your identity. After that, go to the “Cards” tab, find the “Venmo Debit Card” section, and follow the instructions to get your card.
How do I add money to Venmo using a credit card?
To transfer money to your Venmo balance using a credit card, follow the same steps as you would with a debit card or bank account. Simply choose your linked credit card as the funding source when adding funds. However, be informed that using a credit card incurs a 3% fee for the transaction.
