How to Add Money to a Venmo Account

With the current prevalence of online transactions, having an electronic wallet has become a solid advantage. One of the most popular electronic wallets today is Venmo, which offers a great deal of convenience for its users. But how exactly does one add money to a Venmo wallet, and what are the available methods to add funds?

How to Add Money to a Venmo Account

In this article, we’ll reveal the steps to funding your Venmo wallet, along with the different ways to add money to your account.

Before We Begin

Many Venmo funding methods require that you have a verified Venmo Mastercard Debit Card before proceeding. If you don’t have a card yet, you can apply for one by doing the following:

  1. Open your Venmo app.
  2. Tap on the menu icon on the top right corner of the screen.
  3. On the list, tap on Venmo Card.
  4. Follow the instructions as given. You may be required to present identification documents like a driver’s license, so prepare these beforehand. Once approved, it will take around 15 business days for the card to be delivered to your address.

Venmo How to Add Money

You can fund Venmo in a variety of ways. The most common methods are as follows:

Bank Transfers

To be able to initiate bank transfers onto your Venmo account, you’ll have to have been issued a Venmo Mastercard Debit card. You can apply for one by following the steps above. Once you’ve received your debit card, you may now set up a bank account directly to your Venmo account. This can be done by following these steps:

  1. Open the Venmo app.
  2. Tap on the menu icon in the top right corner of the screen.
  3. From the list, tap on “Payment Methods.”
  4. Tap on “Add bank or card.”
  5. Tap on “Bank.”
  6. You’ll be given the option to either use Instant Verification or Manual Verification. Manual verification will require three business days to finish, and you should have at least $2 in your bank account. Instant Verification uses a third-party app that will require you to enter your user information, but the verification should be completed immediately. Choose which method you wish to use, then tap on “Continue.”
  7. Follow the instructions given for each method. You’ll need to enter your bank account number for both methods, so keep it on hand.
  8. Once done, return to Venmo. For manual verification, you may need to wait for an email from Venmo before continuing the verification process.

With a bank account now linked to your Venmo account, bank transfers can be made by doing the following:

  1. Open the Venmo app.
  2. Tap on the “You” icon, which is the single profile image.
  3. Tap on “Add or Transfer.”
  4. You’ll be asked to enter the amount that you wish to transfer. Once finished, tap on “Done.”
  5. Choose which account you which to transfer money from, then tap on “Next.”
  6. Confirm if the transfer details are correct, then tap on “Add Money.” Note that once you do so this, the transfer cannot be canceled.
  7. The transfer should reflect on your account after three to five business days.

Direct Deposits

There’s also the option of transferring money directly from your paycheck into your Venmo account. This can be done if you follow these steps:

  1. Open your Venmo app.
  2. Tap on the “You” icon on the upper portion of the screen.
  3. Tap on “Settings.”
  4. From the menu, tap on “Direct Deposit.”
  5. Write down the account information and routing number that is shown on the screen.
  6. Use the information given on your employee direct deposit information form. If you’re asked to provide a bank name and address, proceed to the Venmo Help Page. You may inquire about the details of their partner bank in your area through their customer service helpline.
  7. Your employer should now be depositing your paychecks directly to your Venmo account.

Check Deposits

Venmo also allows you to cash checks directly to your Venmo account even if you don’t have a bank account. This however requires that you already have a Venmo Mastercard Debit Card. If you don’t have a Venmo card yet, apply for one by following the steps above. Once you have a Venmo card, you can cash in checks by doing the following:

  1. Open your Venmo app.
  2. Tap on the “You” icon.
  3. Tap on “Manage Balance.”
  4. From the list, select “Cash Check.”
  5. Enter the amount on the check when prompted.
  6. Take photos of both the front and back of the check.
  7. Choose how quickly you want the funds to enter your account. The faster method will have higher fees. The choices range from minutes to 10 days.
  8. Wait for a reply from Venmo.
  9. If the request was approved, Venmo will then ask you to mark the check as VOID. Do not do this before you’re instructed to. Uncashed checks marked VOID can no longer be cashed.
  10. Venmo will then ask you to take photos of the voided checks.
  11. You’ll be shown a summary of the transaction, and the funds should reflect within the time that you’ve chosen in the previous step.

Credit Cards

As with previous payment methods, you’ll need to have a verified Venmo Card to use Credit Card fund transfers. To get a Venmo card, follow the instructions given above. If you already have a Venmo Card, do the following:

  1. Open your Venmo app.
  2. Tap on the “You” icon.
  3. On Settings, choose “Payment Methods.”
  4. Tap on “Add bank or card.”
  5. Choose “Card.”
  6. Enter your card information. Once linked, you can use the card as an option to fund Venmo purchases. Do note however that payments using credit cards are subject to a 3% fee unless indicated otherwise.

Transferring from Other Venmo Account Holders

Another way of funding your Venmo account would be to request funds from another person that has a Venmo account. This can be done by the person funding your account, who should do the following:

  1. Open the Venmo app.
  2. Tap on the “Payment” icon in the top right.
  3. Pick a recipient for the funds being sent. You can choose either from the contact list, or provide a Venmo-generated QR code for a quick transfer. Alternatively, you can be added to the contacts list via email, phone number, or Venmo user name.
  4. Enter the amount you want to transfer.
  5. Confirm the details of the transaction then tap on “Pay.”
  6. The transfer should proceed shortly.

How to Add Money to Venmo with a Prepaid Card

Venmo users also have the option of adding funds via prepaid cards, but certain conditions must be met. These restrictions were set in place to prevent fraud, so there’s no way around them. The rules are as follows:

  1. Your Prepaid Card should be registered. Some Gift Card providers require both a mailing address and a ZIP code, while others just require a ZIP code. If your card isn’t registered, it may be rejected during funding.
  2. You must have a verified Venmo Debit Card. You can apply for one by following the steps given above.
  3. Once you’ve satisfied the requirements, proceed to add the Prepaid Card using the same steps as you would in adding a credit card. Debit card transactions aren’t subject to the 3% fee that credit cards are.

Funding Limits

Venmo has a weekly funding limit of $1,500.00, meaning that you cannot transfer more than this amount per week from all sources.

A Definite Advantage

Venmo is a handy way of paying for online purchases, and knowing how to add money to your Venmo account further adds to the convenience. As transactions over the internet become more of the norm, having a digital wallet is becoming increasingly advantageous.

Do you know of other ways to add money to a Veno wallet? Feel free to share your thoughts in the comments section below.

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