Earlier on, making purchases and payment of bills used to be done through liquid cash. However, with the introduction of mobile payment apps, such practices are now a thing of the past. When it comes to mobile payment apps, Venmo does not disappoint. With this app in place, you will be able to make payments, split bills, make purchases with just a touch of a button. Since you are at liberty to make all these transaction from the comfort of your home, be sure that you will enjoy unmatched convenience. For most Venmo users, they have been wondering if they can link their Venmo accounts with prepaid debit cards. The good news is that this platform now allows users to link their accounts with multiple cards, including prepaid cards. Thereafter, you can utilize these prepaid cards to perform Venmo instant transfer and get your money within a couple of minutes. In this article, we shall take a closer look at these prepaid cards, which is work for Venmo instant transfer, alongside other related ideas.
Which Prepaid Cards Work With Venmo For Instant Transfer?
Like we have earlier illustrated, Venmo now works with a myriad of prepaid cards. However, these cards must be from American Express, Visa, MasterCard or Discover. Besides this, these cards must be registered in your name. Some of the prepaid cards that can work with venmo payment platform for instant transfer.
- Brinks Prepaid MasterCard
- PayPal Prepaid MasterCard
- Netspend Visa Prepaid card
How To Add A Prepaid Card To Venmo
Since we have already established that Venmo can work with prepaid cards, time is ripe for you to know how you can add these cards so that you can enjoy the instant transfer feature from Venmo. Here are the steps that can help you get started:
- Launch the Venmo app on your mobile device or tablet
- Key in your log in details
- Once you are logged in, you will see a number of options including the main menu button. Typically, this button has 3 horizontal lines. You will see them at the top left corner of your screen.
- Choose the ‘Settings’ option
- Under the ‘Preferences’ option, you will be able to see the ‘Payment Methods’ option. Click it and then proceed to the next step.
- Once you are done, you will be able to see a list of the current payment methods that has been added to your account. Since you want to add a prepaid card, click on the ‘Add bank or card option’.
- Thereafter, click on the ‘Card’ option since you want to add a prepaid card.
- For optimal results, key in all the card details in the fields that you will see on your screen. Here, you will have to enter the card number, its expiration date, ZIP code among other vital details. Better still, you can take a photo of the card and then upload it on the app as it can read the card’s data automatically.
- After entering all the necessary details, tap on the ‘Add’ button and you will have managed to add the prepaid card to your Venmo account.
Once you add the prepaid card to your Venmo account you will be able to transfer money to it through standard bank transfer method or via the instant transfer method. The former takes 1 to 3 business days, while the latter takes about 30 minutes for it to complete.
Apart from this, you may see a deduction on prepaid card’s statement after adding it to your Venmo account. In most cases, this charge ranges between $0 and $1. However, this should not make you panic as this is typically a temporary charge meant to confirm whether your card details are correct or not. Once everything is confirmed, this platform will automatically cancel those fees and you will get a reimbursement.
What Are Venmo Instant Transfers And How Much Do They Cost?
Just its name suggests, instant transfers allows you to send money from your Venmo account to an eligible prepaid card within a period of 30 minutes. If you choose this option, brace yourself to incur a 1.5% fee, where a minimum fee of 0.25 and a maximum fee of $15 is charged for these transactions.
It is imperative to note that instant transfers can be made 24/7. Therefore, you will be at liberty to make these transfers even on weekends and holidays. Just like any other Venmo transaction, this one is not immune to issues as it can be affected whenever there is Venmo service disruptions.
Apart from this, these transfers are usually reviewed and can be declined, blocked or even delayed if your transaction is deemed to be suspicious. Here, your funds can be frozen or even removed from the associated account.
This is the reasons why you should always use a prepaid card that is registered in your name and that your Venmo account bears your legal first and last name. If you still experience errors when using the instant transfer feature, chances are that it is no longer available. Such can occur even if you had used your prepaid card for instant transfer in the past.
If you experience challenges when dealing with instant transfers, consider contacting the Venmo customer care service at 1(855) -812-4430 and then narrate your story. You can also email them with your issue and be ready to get a response via your email.
Better still, you can consider using the Venmo standard bank transfer feature and be ready to get the money after 1 to 3 business days. Since this transfer is free of charge, you will be able to save a few bucks.
Is It Safe To Use A Prepaid Card On Venmo?
Yes. This is because Venmo as a member of the larger PayPal family has committed to ensure that all its transactions are secure. Here, it uses PayPal’s trusted encryption and monitoring technology in order to safeguard your integrity anytime you choose to conduct transaction on Venmo.
To avoid sending money to the wrong account and recipient on the other end, this platform uses personal QR codes. Here, you will need to center your phone’s camera over the QR code you want to scan and then you will be transferred to the profile page of your recipient where you will be able to add him or her as a friend and then send or request money from them. The good news is that you can share your personal QR code with your friends and family via email or text messages.
If you want to go cashless, using prepaid cards should top the list of your priorities. As we speak, it is possible to link your prepaid card to your Venmo account. All you need to do is to follow all the steps we have illustrated above. Moreso, ensure that your card is registered in your name so as to avoid hiccups during the linking process. Once you link the prepaid card, you can now use the instant transfer feature on Venmo and be able to have money in your prepaid card within 30 minutes. However, brace yourself for a 1.5% charge for such transactions. Consider all these ideas and you will be able to enjoy seamless transaction anytime you choose to transfer money to your prepaid card with Venmo instant transfer feature.