Venmo is an excellent application that has made it easier to understand the process of sending or receiving money using an amazing social aspect. If you’re searching for a simple guide to Add Money to Venmo account, you’re on the right page. We will go over all the methods to add money to your Venmo account and how you can add funds to Venmo quickly, add money using your debit card or make money available without a bank account, etc.
Venmo is a product from Paypal and is a great option to pay your family and friends. It’s especially useful for making payments for regular expenses such as sharing your taxi fare or gifts for your friends or gifts for friends.
You don’t need to have the money within the account of your Venmo Account to make payments. It is possible to make payments directly by using money from an account at a bank or a debit card associated with your Venmo application. However, if you decide to use the credit card linked to pay for the transaction, you will be charged 3 per cent Venmo charges.
However, often you’d like to keep the money within your Venmo balance to simplify and speed up you’re to make payments. So let’s examine the methods to add money to the Venmo balance.
The prerequisite for adding money to Venmo
Before you add money, ensure that you’ve completed the following steps:
- Completed the Identity Verification on Venmo App.
- The application was approved, and you received a Venmo debit card, but without it, you won’t have the option to make a payment on the Venmo app.
- You can connect your bank account/debit cards or credit/debit with the Venmo App that will be utilized to add funds (we will go over this in the next steps)
By the Venmo setup, you have to be able to use a Venmo debit card to transfer funds to Venmo. It’s only when you’ve got a Venmo Debit Card you’ll be able to select the ” Manage Balance” (or “Add or Transfer” option in the new versions of the application] that lets you add funds from a bank account linked to directly to the Venmo balance.
How can I Add Money to Venmo?
To add funds to your Venmo balance, you can make use of one of the following methods:
- Method 1. Add money from your linked debit or bank account (No fee, however it can take up to 3-5 business days)
- Method 2. Add the money from a credit card linked to it (3 per cent charge for Credit card)
- Method 3. Pay money into Venmo instantaneously via a linked bank account
- Method 4. Request to receive and pay friends (no fees, and it is instantaneous)
Utilizing a bank account linked to your credit card to transfer money is easy and cost-free, but it can take time. Please note that according to Venmo guidelines, you need to carry a Venmo debit card to gain access to this feature.
In contrast, the addition of money to the Credit Card is subject to the 3% charge.
If you’re a regular Venmo user, you might also consider activating the auto-reload on your Venmo Debit Card. This allows you to complete transactions with Venmo by pulling funds directly out of your account at the bank.
Therefore, save your money and connect your bank account and your debit or credit card account to Venmo for those who want to earn money without cost.
Another important thing to remember is that you don’t require a balance in your Venmo account to pay. It is possible to pay directly through the Venmo app with money from a linked account, i.e. an account with a bank or credit or debit card is linked to the Venmo App.
Another option to add funds to Venmo is to add an existing gift card to Venmo as a payment method and then transfer the funds from the gift card (as gift cards are similar to a prepaid credit card). I’ve published a blog that provides thorough instruction on adding an existing present card on Venmo, which gives you an idea of what is available as gift cards to be added and the steps to follow.
For those new to the service, It is crucial to keep in mind that Venmo offers its normal verification period before you are allowed to make full use of your account. If you’ve opened your first Venmo account but have not done the Identity verification process, you can make transactions up to $299.99 within your first week. The limit will increase to $4999.99 for accounts that have been verified.
Method 1: How to add funds to a Venmo account using a debit card
Venmo allows you to connect your debit or bank account to make payments and add funds to Venmo through the linked accounts.
steps to include funds to Venmo Through a Bank Account and Debit Cards:
Step 1: Select the Debit Card (or Bank Account) as the payment method to Venmo:
The first step to adding cash is to connect your debit card or bank account as an option for payment in the Venmo App. It can be used to transfer funds to Venmo and cash out from your Venmo funds. It is possible to skip this step if you have already added the account. You can follow the instructions below to connect an account for a bank or debit card account on Venmo:
- Tap on the tab called You (single symbol for a person )
- Next, tap “Settings” (gear icon)
- Then, we went to “Payment Methods.”
- Next, tap “Add an account at a bank or credit card …”
- Select “Bank” to connect your bank account to online banking details or “Card” If you wish to connect an account with a debit card
- To add a card, input debit card details either manually or through the mobile’s camera to take an image of the card.
If you’re looking to add a bank account, select your preferred method of verification. It is possible to verify your bank account using Instant Verification via Plaid using the bank’s online credentials (which happens immediately) or manually with micro-transfer (which takes 3 to 5 days for processing)
If your bank doesn’t allow for the addition of funds through Plaid, then you should check this article on how to connect your bank account with Venmo with no Plaid.
Step 2: Open the Menu (or the You tab, i.e. Person Icon in the New version)
After you have added the debit card to your payment method to Venmo, Tap on those three vertical lines that form the hamburger “icon located on the top right corner of the Venmo app’s home screen, which will bring up the menu.
If you’re using the latest version of the Venmo app (which doesn’t have the icon), navigate into the “You” tab and select”Single Person” (see below for icon)
Step 3: Tap to “Manage Balance”, where you will be presented with the option to add money.
Click the button “Manage Balance” from the menu options, which will lead users to the choice “Add Money”.
If you’re using the latest version of Venmo, you might see a choice “Add or Transfer” instead of “Manage Balance” in some instances.
Step 4: Input the amount you’d like to include and click “Done”
Input the amount you wish to include at this point.
Step 5: Make sure that you have confirmed the debit card and account used in making the transfer.
In this step, you must choose either the debit card or the Bank account you’ve created in Step 1 and which will be used for the transfer.
Step 6: Go over the transfer details and estimate the arrival date.
Check the information carefully because the transfer can’t be cancelled. It is vital to keep in mind that it can take three to five business days for the cash to show up on the Venmo amount.
This is why the Cash App can be more effective since it lets you instantly load the account via the option of bank transfer.
Venmo recently launched an “Instant Make Money” See more details below under Way 3.
Step 7: Click “Add Money”
When you click “Add Money”, the transfer will be initiated and cannot be reversed.
Method 2: How to add funds to your Venmo account using your Credit Card
- Follow the steps listed in Step 1 explained in “Way 1” above. Instead of entering debit card details, enter your credit card information in the usual manner.
- Choose your Linked Credit Card when you would like to pay through Venmo.
This is not a way to increase the amount of money in your Venmo account; it is an opportunity to utilize the credit card funds to make payments through Venmo. But, be aware that there’s a standard fee of 3 for paying a relative or friend member using Venmo once it has been financed through your credit card.
Furthermore, some credit card companies might charge fees for cash advances for using your credit card to pay family members on Venmo.
The Venmo 3percent transaction fee does not apply to purchases through authorized merchants shopping online or in stores, regardless of whether you are using a credit card because the seller pays it.
Method 3: How to add Money to Venmo Quickly and easily from a Linked Bank Account
If you own a valid Venmo debit card in your account and you have connected your account at a bank with Venmo (using either manual or plaid verification) but not using the bank debit card, you can make money instantly available in Venmo (up to a maximum of $500). This is a brand new feature known as “Instant Add Money” that is available to a few Venmo users and could be extended across all Venmo users.
If you click “Instant”, you’ll be able to see the funds added to your Venmo account immediately. Be aware that it may take a couple of days for the charge to appear in your bank statement (typically 3 to 5 days of business).
- Start your Venmo application and sign in to your Venmo account.
- Next, tap on The tab (single person icon) to display the menu.
- Next, tap “Manage Balance.”
- Click Next to “Instant”
- Input the amount you would like to include ( up to the Instant Add Money limit, which is $ 500 per week)
It is important to note that with the instant transfer, even though funds are transferred for withdrawal to the Venmo account in minutes, it could take up to 3-5 days to deduct from your bank account. This feature was created to allow you to access funds in your Venmo account as quickly as possible in situations of extreme urgency, like when you’re waiting in line to pay for your purchase and discover that the money that’s in your Venmo account isn’t enough to be enough to cover the cost of your transaction.
If you don’t see the option to deposit instantly, you may want to explore Way 4 below for urgent scenarios.
Method 4: How to add money to Venmo Fastly by requesting Friends without a bank account
You can also request the cash from friends using Venmo. Perhaps, the most convenient method of adding funds to Venmo immediately is to request your friend Venmo the money to you when you have an urgent need. It is also one of the methods you can make money available without any bank account.
- Click at the hamburger icon (3 vertical lines) as well as you (single individual icon) on the Venmo home page
- Then, tap “Search People.”
- Then, enter the name or username of a friend you would like to get money from.
- You can tap “Feed” as well as “Between You.”
- Click “Pay Or Request”
- Enter the amount you wish to receive.
- Press “Request” (or pay)
Can you add physical cash into Venmo in an ATM facility or any retail shop?
At present, Venmo does not offer an option to make money at a convenience store or an ATM.
Automate the process of reloading Venmo balance with Venmo debit cards
A simple way to speed up the process of reloading Venmo balances is to use the auto-reload features.
Reloads can be turned on either off or on by clicking Settings > Venmo Debit Card within Venmo’s Venmo app.
If you own a Venmo debit card, it is also a way to use the auto-reload, which will add money to the Venmo balance in increments of $10 from the linked bank account.
Any funds not used up from replenished funds will be held in your account until you make the next purchase.
Example: If you plan to purchase $35 and have the amount of $10 remaining in your Venmo balance, then the auto-reload can add $30 (in multiple of 10) to ensure that your balance is adequate to pay the cost of the purchase. You must ensure you have sufficient balance for this purpose.
In these cases, it is common to have an in-between time between the trigger for reloading that occurs when you complete the purchase and at which Venmo withdraws the funds from your bank account, typically 1-5 business days.
It is also important to remember that the Venmo Reload service is available only to cover the purchase cost and is not available for ATM withdrawals.
Limits to Adding Cash in Venmo
Another thing to remember to keep in mind is that Venmo has specific limits regarding the amount you can add to your Venmo balance. The limit is a $1,500.00 weekly amount that can be transferred to Your Venmo balance. You cannot transfer more than $1500 in one month to the Venmo balance.
The amount of money you can load on the Venmo Debit Card will vary according to your particular transactions. You can find your limits by visiting the Venmo Debit Card section of the Venmo app.
Wrap up
Although Venmo provides various options to add funds to the Venmo balance, it’s recommended to use your bank account linked to it instead of credit cards that are susceptible to charges for transfers. However, you have to consider the period of 3-5 days for the money to be available on your Venmo account. It isn’t an immediate transfer.
It could also be beneficial to automate reloading your Venmo debit card so that you can meet the immediate requirement for purchases. Venmo also does not require you to have the money within your Venmo balance, and you can pay directly using the linked bank account.
