Does Venmo Accept Prepaid Card?

Venmo is one of the most popular iOS and Android money transfer apps.  The app makes it easy to pay friends and request money with one tap all from your phone. Of course for this to work the app must be linked to a bank, credit or debit card account. In this article we will discuss does Venmo accept prepaid card?

Venmo can link multiple cards, and this includes multiple prepaid cards: Venmo accepts prepaid cards or gifts from American Express, Discover, MasterCard, and Visa. So if you have a gift card from any of those brands, you can add it to your account.

 

How Does Venmo Work?

When you sign up for your Venmo account. You will be asked to decide how you want to pay people and to set up a funding source. It allows you to get money from a credit or debit card, a US bank account, and even use your Venmo balance. Venmo balance refers to money you received from other Venmo users. This means that if you are not registered with your bank information, you can technically still pay others with cash in your Venmo balance.

Venmo also offers its own debit card for users to earn special rewards called Venmo cards. PayPal is its parent company and Venmo is designed to make money transfers easy and efficient with no Venmo transfer fee.

 

Is Venmo safe?

Venmo is safe yes. How safe is Venmo? The main risk is the same for payment applications and other money transfers, as there is a risk that someone will hack into your phone and access your financial information through the application. Venmo works to reduce such security risks by adding PIN capability to your Venmo account. This is a great precaution to assume that your phone has a high security PIN to prevent someone from accessing confidential information. Furthermore, it is also safe to transfer your money on Venmo even without having a bank account attached.

 

Steps On How To Connect a Prepaid Card To Venmo

  1. Open the Venmo app.
  2. Touch the menu button, the three horizontal lines, in the upper left corner of the screen.
  3. Touch “Settings”, the second option from the bottom.
  4. Under “Preferences” in the Settings menu, tap on “Payment Methods”, the second item down.
  5. At the bottom of the Payment Methods menu, tap “Add a bank or card …”
  6. In the menu that appears, tap “Card”, the second option.
  7. Enter your prepaid card information in the appropriate fields or tap the camera button next to the white “Card Number” field to take a photo of the card and make the information automatic in the app.
  8. Touch “Add” to add the card to your account.

Before you go, I hope this above article does Venmo accept prepaid card is helpful and beneficial for you.

 

 

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