How to Add Money to Venmo

 

The Venmo app has become a really efficient mobile payment service to make personal transactions, receive money and make digital payments as easy as it gets.

The simplicity of the Venmo app is what makes it one of the best alternatives to manage your funds in the US.

So, if you want to start using this platform more frequently, then it’s recommended to add money to your Venmo card.

That’s why this guide has all the information you need about the following topics:

• How to add money to Venmo;
• Different methods to add money to your Venmo account;
• How does sending money to Venmo work?

How to Add Money to Venmo: Requirements

Before you start adding funds to your Venmo account, all Venmo users must comply with specific rules as mentioned on Venmo official site.

1. Only users with an issued Venmo MasterCard Debit Card can add funds to Venmo through their banks;
2. If you don’t have this Venmo debit card, you can still make Venmo payments with your standard credit or debit cards;
3. When you add a bank to Venmo, the platform will ask for additional information to verify the authenticity of your credentials;
4. Your Venmo personal account information must be fully verified in order to add a bank or card to Venmo;
5. Last but not least, adding funds isn’t always necessary to receive and send money - you can simply pay with your Venmo balance by receiving transfers from friends or family.

Luckily, you can put money in the Venmo smartphone application quite easily by following different alternatives provided by the platform.

How to Add Money to Venmo from Your Bank Account

Now that you know the basics about this matter, it’s time to answer the million-dollar question: how do I add money to Venmo?

If you have your bank account set and ready to go, and also have your Venmo MasterCard Debit Card ready, then just follow these quick steps.

Step 1: Go to Your Venmo Account and Add a Verified Bank Account

First things first - your account must be properly verified before starting to add money.

Thus, you must have a linked bank account directly on your Venmo profile.

Simply go to Settings, select “Me” and tap “ Add Bank or Card.”

Type it your routing number, account number and all required information.

The verification method is instant verification as long as you directly connect your online banking to Venmo, so this should be quick.

Step 2: Select “Manage Balance” on the Venmo App

Once you have a properly linked funding source, you can now transfer money to your account.

In order to do this, just select “Manage Balance.”

The “Manage Balance” option will allow you to transfer funds from your bank account in no time.

Step 3: Tap “Add Money” to Your Venmo Balance

In the following screen, just tap “Add Money.”

Keep in mind that you are about to move your funds from your bank to your Venmo account, so it’s not the same as making payments with a credit card.

Step 4: Enter the Transfer Information

A screen will appear where you’ll need to add all the transfer information correctly.

Set the transfer amount of money you want to send, put your contact information, and then review it all before proceeding.

Step 5: Accept and Confirm the Transaction

Once you finish reviewing all the bank details and transfer data, you can now proceed to accept the transaction.

This is the only way to add funds from a verified bank account directly to your balance.

Tap on “Done,” and you will be ready to go.

Step 6: Wait 3-5 business Days for the Money to Arrive

Venmo will show you the estimated arrival date from your bank to your profile.

Now, all you need to do is to wait for a while - that’s how you add money to Venmo in 2022!

How to Add Money to Venmo Without Bank Account

You can also fund your Venmo account if you don’t have a bank account.

There are different payment methods allowed on the platform, so worry not if you don’t have a bank account at hand.

1. Add Funds to Venmo with Credit and Debit Card

The first method consists in simply adding your credit or debit card information manually:

1. Open Venmo and select the menu icon;
2. Open the Me tab and select “Add bank or card;”
3. Finally, type in your card details - you can also use your phone camera to register the card. Remember that you can also use prepaid cards on Venmo.

Two users can have the same card linked on two Venmo accounts only if we talk about a joint card.

Having two Venmo accounts is possible, but only under this condition.

Still, each Venmo payment you make will take the funds from your linked card, so you should not worry about payments anymore.

2. Receive a Venmo Direct Deposit

A Venmo user can ask their employers to directly send payments to their Venmo account in order to fund their account.

To do this, just follow these steps:

1. Open Venmo and go to the Me tab;
2. Select “Direct Deposit” and then tap on “Show Account Number;”
3. Send this information to your employer and tell them to make payments directly to this address.

3. Use Cash a Check Venmo Feature

Last but not least, you can cash a check on Venmo within just three simple steps:

1. Open Venmo, go to “Manage Balance” and then select “Cash a Check;”
2. Here, type in the check amount and upload photos of the check;
3. Wait for the check to be approved by Venmo, and Void id if asked to.

You can receive the funds in either one business day or ten - it highly depends on many factors.

Still, you will be able to make Venmo purchases with this funded money shortly.

Can You Cancel Bank Transfers to Venmo?

Once you start to transfer money, the operation will show on the Personal Transactions feed.

Thus, you can’t cancel this transfer from your bank account - you just need to wait a couple of business days for the money to arrive in your Venmo account.

Note: In case the transfer to your Venmo balance fails, you will receive a message directly in your email, and the funds will remain in your bank account.

Also, if you received less money than expected, check if you had a negative balance on your Venmo account beforehand.

How Long Will a Bank Transfer to Venmo Take?

Your Venmo balance will update only after 3 to 5 business days after the money transfer is made.

On the other hand, when other Venmo users receive money or transfer money, the operation usually immediately appears on their Personal Transactions Feed.

There isn’t an “Instant Transfer” option

In order to add money to your Venmo balance, you need to wait.

You can pay with your linked credit card in the meantime if you please.

It’s also possible to request money for other users, but waiting from 3 to 5 days is the only way to get your funds in the estimated time.

What’s the Rolling Weekly Limit for Bank Transfers to Venmo?

So, how much money can you transfer to your account?

You can add up to 1,500 USD to your Venmo balance weekly.

Keep this in mind in case you need to make payments with your Venmo balance.

Bottom line - Venmo is one of the best personal finance platforms to manage your money.

The possibility of having funds that you can later use with a debit card is just great!

And you now know how to do it.

For more informational posts like this one, check GrowFollowing whenever you can!

Adding Money To Venmo FAQ

Is Venmo Safe?

It is! Venmo protects the privacy of all their users. You can learn more about Venmo Privacy Policies here.

Can I Make Payments and Pay Friends Without Adding Money on Venmo?

You can do so by linking a credit or debit card,or using the Venmo funds you receive from other users.

It’s not mandatory to add more funds to use this app properly.

About the author

Steve

Steve specializes in cryptocurrency and finance. As a born researcher, he won’t leave any stone unturned when it comes to topics he covers.

Oliver

Oliver is GrowFollowing founder and covers topics ranging from fintech to Internet.