At a Glance: The only way to add money to your Venmo balance (besides having someone send you money on Venmo) is to sign up for a Venmo debit card, link your bank account to it, then use it to transfer money into your Venmo account. You can also use a debit/credit card or bank account to make payments with Venmo, but you can’t transfer money to your Venmo balance with these. Show Venmo is a convenient way to send, receive and spend money using only a smartphone. To use your Venmo account, you need to add money to it or have a linked payment method. If you are not sure how to add money to Venmo, read on to learn the details.
How to Add Money to Venmo OverviewWhat is VenmoVenmo is a mobile payment service from PayPal. Venmo allows people to send and receive money using a smartphone application. Venmo also allows merchants to receive payments from people using the service. Ways to Add Money to VenmoThere are several different ways to make funds available to use in your Venmo account. These include:
The details of the different ways to fund a Venmo account are explained below. Add Money to Venmo from Your Bank AccountOne solution for adding money to Venmo is to add it directly from a normal bank account to your Venmo balance. The instructions below outline how to add money to Venmo from your bank account. Only holders of a Venmo-issued debit card from Mastercard can directly add funds from their bank account to their Venmo balance. That means you have to first apply for and receive a Venmo debit card:
After you receive your Venmo debit card, you need to link your bank account to your Venmo account:
Once your bank account is verified, you can initiate the transfer from your bank account:
Please note you cannot cancel a bank transfer to your Venmo account after you initiate it. After you select Add Money, the transaction can no longer be canceled or reversed. After you transfer money from your bank account to your Venmo account, the funds should be added to your Venmo balance within 3 to 5 business days. If you initiate the transaction on a weekend or public holiday, the process will only begin on the next business day. If you are unable to get a Venmo debit card, you can explore some of the other methods of how to add money to Venmo outlined below. Add Money to Venmo from a Credit or Debit CardThe only way to add money directly to your Venmo balance is by using a bank transfer from a linked bank account. However, it is possible to send money to people using Venmo even if your balance is zero. You can do this through a linked payment method. When you send money to a friend or pay a seller, the money will come from your linked payment method rather than your Venmo balance if the payment or transfer amount is larger than your Venmo balance. You don’t need to have a positive Venmo balance to send money using Venmo. You just need a verified payment method. One of the payment methods you can use is a credit or debit card issued by your bank. Follow the steps below to link your credit or debit card to your Venmo account:
You can use your phone’s camera to add your credit or debit card information quickly and easily. You can also enter the card number and other details manually if you prefer. Once your card is linked, you can select it as the payment method when you want to send money or pay a merchant using Venmo. Please note that payments funded by credit cards are subject to a 3% fee unless the purchase is made from selected merchants. Add Money to Your Venmo BalanceThe only way you can add money directly to your Venmo balance yourself at any time is if you transfer it from a linked bank account. However, you only have this option if you have applied for and been issued a Venmo debit card. Venmo Direct DepositThe other option for adding money directly to your Venmo account is to arrange for your paychecks to be deposited directly into your Venmo account. To set up direct deposit, follow the steps shown below:
If you are asked for the name and address of your bank when filling out the form, you can get the details of Venmo’s partner bank from the Venmo customer support website at help.venmo.com. Once you have filled out the direct deposit information, it is up to your employer to begin depositing funds into your Venmo account. It may take up to two pay cycles for changes in direct deposit details to take effect. Once you have set up direct deposit, your paychecks will begin adding to your Venmo balance. Other Options to Fund Venmo AccountsIf the above options are not suitable for you, there are a few other ways to fund your Venmo account:
Please note for most purposes, you do not need to add money to your Venmo balance to use Venmo. You can send money and pay using Venmo using linked payment methods, even when your Venmo balance is insufficient. You can always check what payment method you are currently using by looking at the bottom of the screen where you enter payment details. Read More
Final ThoughtsThere are several methods of how to add money to Venmo. You can transfer directly from your bank account, or arrange a direct deposit of your paycheck to add to your Venmo balance. However, you do not need to have a Venmo balance to use the app, you can send money using Venmo through a linked payment method. It takes 3-5 business days for a bank transfer of funds to reflect on your Venmo balance. There is no delay when sending or paying using linked payment methods. Need a Loan? Get One in 3 Simple StepsIf you are considering applying for a personal loan, just follow these 3 simple steps. Apply Apply online for the loan amount you need. Submit the required documentation and provide your best possible application. Stronger applications get better loan offers. Accept If your application meets the eligibility criteria, the lender will contact you with regard to your application. Provide any additional information if required. Soon you’ll have your loan offer. Some lenders send a promissory note with your loan offer. Sign and return that note if you wish to accept the loan offer. Repay The loan then gets disbursed into your U.S. bank account within a reasonable number of days (some lenders will be as quick as 2-3 business days). Now you need to set up your repayment method. You can choose an autopay method online to help you pay on time every month.
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