Venmo is a popular peer-to-peer payment app that allows users to send and receive money easily.
While Venmo primarily functions as a digital wallet, it also provides the option to transfer funds from your Venmo account to your linked debit card.
In today's guide, I will show you the steps to transfer money from Venmo to a debit card instantly.
Table of Contents
How to Transfer Money from Venmo to Debit Card Instantly
Venmo lets you instantly transfer money from your account to your debit card.
However, you will first need to link your debit card to your Venmo account before being able to initiate the transfer process.
1. Add Your Debit Card to Venmo
Follow the steps below to add your debit card to Venmo:
- Login to the Venmo app.
- Go to the "You" tab by selecting the profile icon.
- Tap the Settings gear in the top right then tap "Payment Methods".
- Tap "Add bank or card..." and then tap "Card".
- Add your card information manually or with your phone's camera.
2. Transfer Money from Venmo to Your Debit Card
Venmo lets you transfer money to your debit card instantly at a fee of 1.5% of the total amount to be transferred (with a minimum of $0.25 and a maximum of $15).
Follow the steps below to transfer money from Venmo to debit card:
- Log into your Venmo account.
- Tap "Transfer Money" or "Transfer Balance" (you can also tap "Manage Balance," then "Transfer to Bank").
- Tap the "$☰" icon.
- Enter the amount to transfer to your card.
- Select "Instant" (for a small fee) or "1-3 Biz Days" (no fee), and choose your debit card.
- Confirm your details.
- Tap the green "Transfer" button.
3. Receive Your Money
Once you tap the transfer button, you will receive the money instantly on your debit card. Remember that instant transfer go with a 1.5% fee of the total amount to be transferred.
Keep in mind that instant transfers may be delayed if there are issues with your account, such as unverified bank and credit cards, suspicious activities in your account that may result in fraud, among others.
How to Add Money to Venmo from a Debit Card
A bank transfer from a linked bank account is the only way to add money directly to your Venmo balance.
Even if your account balance is zero, you can send money to others using Venmo. This can be done via a linked payment method.
If the payment or transfer amount is greater than your Venmo balance, the money will come from your linked payment method rather than your Venmo balance when you send money to a friend or pay a vendor.
To send money with Venmo, you don't need to have a positive balance. All you need is a secure payment method. A credit or debit card provided by your bank is one of the payment options available to you.
You may quickly and conveniently add your credit or debit card information using the camera on your phone. If you like, you can manually enter the card number and other information.
Once your card is linked, you may use Venmo to send money or pay a merchant by selecting it as your payment option.
Please note that credit card payments are subject to a 3% fee unless the purchase is done from one of our approved merchants.
How to Add Money to Venmo Debit Card
To add money to your Venmo debit card, you will need to link your bank account to your Venmo account then fund your Venmo account. Your Venmo debit card is directly linked to your account so using your Venmo debit card for purchases will be like using your Venmo balance.
Frequently Asked Questions
Can I transfer Venmo to my debit card?
Yes, you can transfer money from Venmo to a debit card. What's even great with this transfer is that it is made instantly and funds are available within minutes in the debit card.
How do I add money to my debit card on Venmo?
It is very easy to add money to your debit card on Venmo. In fact, you don't need to transfer the funds since they are made available for transfer through the debit card linked to Venmo. However, you can add the funds to your Venmo balance and transfer them to friends and family.
Why can't i transfer money to my debit card on Venmo?
If you can't transfer money to your debit card on Venmo, it means the debit card you linked has issues or does not support instant transfers. In this case, you might want to double-check if you linked the card properly and try again.
Final Thoughts
Venmo is one of the best P2P apps that let you conveniently send and receive money. Venmo lets you withdraw money to your debit card instantly by using the instant transfer option which will cost you a 1.5% of the total amount.
The instant transfer may however, be delay if your account has issues.
References:
https://www.investopedia.com/articles/personal-finance/032415/how-safe-venmo-and-why-it-free.asp
https://www.forbes.com/advisor/money-transfer/what-is-venmo-how-it-works/
https://help.venmo.com/hc/en-us/articles/210413677-Adding-a-Credit-or-Debit-Card
https://help.venmo.com/hc/en-us/articles/115015844068-Instant-Transfers-FAQ