How to Add Money to Venmo and Can You Use Prepaid Cards on Venmo?

You must have funds available in your account to transfer money or make a payment. This is not the same as Venmo. In this article, we will cover two important topics on how to add money to Venmo and can you use prepaid cards on Venmo? The various methods you can use and also how to add money to your Venmo balance.

Add money to your Venmo account

Once you have an open Venmo account, you need to set up funding sources that will then be used to add money, so that you can later send it to different people. You can do this using a debit card, credit card, or your bank account.

Additionally, your account can also be funded by receiving money from other Venmo users.

Related to How to Add Money to Venmo:

Add Money on Venmo through your bank account

Venmo offers you the option of linking a bank account to your profile as a source of funding. This means that you can make a payment by withdrawing the money directly from your bank account.

To link your bank account, you will need to follow the steps below:

  • Touch the menu button (one with three horizontal lines)
  • Go to Settings and then select Payment Methods
  • Follow the option Add bank or card and select Bank
  • From there, you will need to select your verification method

Your account must be verified before you can use it for Venmo-related transfers and there are two ways to do this: manual verification or instant verification. When you hand over your bank account, all you have to do is provide your account number and routing number. Be sure not to enter your check number as this may result in transfer failure or rejection by your bank.

In this manual process, Venmo will generally send small amounts of cash, dollars or less to confirm account ownership. Make sure you have enough cash in your bank account to avoid overdrafts or other applicable bank charges.

Add Money on Venmo with your credit or debit card

With Venmo, you can also make payments with your credit or debit card, but like many other online services, you must first set it up by providing some basic card information.

To do this you need:

  • Touch the menu button (one with three horizontal lines)
  • Go to Settings and then go to Payment Methods
  • Select Add bank or card and go to the Card option
  • Choose whether to hand over your card information or your phone’s camera

It is advisable to have the contact information for your card issuer’s support agents. This is because sometimes your card may be rejected during verification due to a recent zip code or address change. Note that Venmo does not allow you to update specific information related to a card that you have added. For example, if the expiration date of your card is adjusted, you will need to delete that card and re-register it with the new information. Venmo intends to implement a feature that allows two users who share ownership of the debit card to use it jointly on the platform.

Can you Use Prepaid Cards on Venmo

Yes, prepaid cards work on Venmo. Prepaid cards provide an ATM for debt-free purchases, interest payments, or the need to create a bank account. One thing that cards don’t help is building your credit score since there is no credit involved when you use a prepaid card account. Venmo competes with other payment apps, including Square Cash, Cash App, Zelle, Apple Pay, and Google Pay.

Venmo accepts most prepaid cards, as long as they are Visa, American Express, Mastercard, or Discover.

How do I send a prepaid card to Venmo?

Adding a prepaid card is very easy:

  • Open the Venmo Cash app on your device.
  • Click the main menu button, indicated by three horizontal lines in the upper left corner of the screen.
  • Select the “Settings” option.
  • In “Preferences”, click on the “Payment Methods” menu item.
  • Click on the item “Add bank or … card”.
  • There will be a pop-up menu: click on the “Card” option.
  • Fill in the data fields of your prepaid card or click on the camera icon to take a photo of your card so that the application can automatically retrieve the required information. Make sure to enter your zip code.
  • Click “Add”.

Before you go, I hope that the above article related to how to add money to Venmo and can you use prepaid cards on Venmo will be helpful and knowledgeable for you.

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