With more than 80 million users, Venmo is one of the ranking apps for online payment purposes. If you are new to Venmo and unaware of the functioning of the platform, then here we are to tell you how to send money from Venmo balance and other important information related to the app.
Venmo is a platform for online payment which is owned by Paypal and is very much similar to the Paypal app itself. Through Venmo, you can send, receive and request money. Both iOS, as well as Android devices, support the Venmo platform. If you want to make transactions through Venmo, you may link to it your bank account, your credit or debit cards.
Since the app is new to a lot of people, they are still trying to figure out how it works. For instance, how to send money from my Venmo balance? To send Venmo balance, select the payment icon on Venmo, choose the recipient, enter the amount to be sent and tap on the “Pay” button.
If you want to know in detail about how to transfer money from Venmo balance, keep reading this article and you will master using the Venmo app.
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Can You Send Money From Venmo Balance?
This is what the Venmo app has been designed for, to send money. You can link your bank account or your debit or credit cards to your Venmo account and add funds to your Venmo balance. You can then use this Venmo balance to pay anyone across the US who uses Venmo.
How To Send Money From Your Venmo Balance?
If you want to send money Venmo balance, you can refer to the simplified steps that have been provided underneath.
- Open the Venmo platform on your smartphone.
- On the main screen will be the payment icon at the top right corner. Tap on it.
- Now choose a recipient for the money you want to send. You can choose the person from your contacts list, you can enter a phone number, email address, or Venmo username to add the recipient. If you want to scan the QR code of the recipient, there is also an option available for that.
- Now enter the amount you want to transfer to the selected recipient via Venmo.
- You can add a note along with the payment you are making.
- Check if all the information and details you have entered is appropriate before sending.
- At last, tap on the “Pay” button and confirm your payment.
That’s all, the person to whom you send the money from Venmo Balance will receive the amount in their account.
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How To Create A Venmo Account?
If you are looking forward to creating a Venmo account for yourself, then go through the steps mentioned below.
- Download Venmo, which you can get on both your Android and iOS.
- Launch the app on your device and tap on the three horizontal lines in the top left corner of the screen.
- Tap on the “Settings” menu.
- Go to the “Security” section.
- Hare, you have to tap on “Identity Verification”.
- Now, tap on “Next” and fill in the required details that will include your name, date of birth, address, and last four digits of your social security number. A few documents may also be asked.
- As you enter all the details, tap on “Next”, follow up as directed, and complete the process.
Venmo will take a few minutes for the verifying process of your identity. Once your Venmo account has been verified, you can use your Venmo balance to make payments to others.
How Long Does It Take To Send Money From Venmo Balance?
Usually, it doesn’t take much to send money from a Venmo balance. Just as you make the transaction, the recipient will immediately receive the payment in their account. They can then use that money directly from their Venmo app or from their Venmo debit card. They can also further send the money they received.
When transferring money from Venmo, the process between the app and the bank account or the credit or debit card you linked may take up some of your time.
If you want to save this time, you are suggested to keep some funds in your Venmo balance beforehand so that the transaction can be made in a jiffy as the process might sometimes take up one-to-three business days.
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Can’t Send Money From Venmo Balance?
There might be cases when you would be unable to send money from Venmo Balance. Let us find out the possible reasons on why you can’t send money from your Venmo balance.
Make sure that you enter all the required details correctly before making a transaction on your Venmo balance. If not so, then Venmo may not proceed with the transaction process.
If you don’t have access to your Venmo balance, this means that your Venmo account has not been verified yet. In this case, you would be able to receive and send payments to a bank account, however, you cannot use the Venmo balance to make transactions. You need to first get your account verification done.
If your Venmo account is verified and you have access to your Venmo balance and are still unable to send money from it, then you have probably used up all the funds you had added to your Venmo balance and there might be a negative balance on your Venmo account. So, you need to make sure that enough funds are available on your Venmo so that you can send money from your Venmo balance.
This was all you needed to know about how you can send money from Venmo balance and how you can fix the Venmo balance not working. We hope that this article was useful to you and cleared all your doubts and answered all your questions. If you have any queries related to Venmo, drop us a comment in the comment section below.