Venmo card: what is it, how does it work & how to get one

Venmo is a service based in the US that lets you send and receive payments, but did you know it also offers a debit card to customers?

So, what is the Venmo debit card?

The Venmo card works with the Mastercard network and is issued by Bancorp. It doesn’t charge any fees when you use it for purchasing.

Provided the merchant accepts Mastercard as a form of payment, you will be able to use the Venmo Mastercard all over the US.

For international payments, there are other alternatives – which we’ll also show you in the article.

Get a Wise debit card today

📝 Table of contents
How does the Venmo card work? How do I get a Venmo card? How do I reload my Venmo card? Should you get a Venmo card? Venmo card alternatives Frequently asked questions

How does the Venmo card work?

The Venmo card provides customers with a way of using the payment service for in-store transactions.

Venmo also offers perks to customers with the Venmo card, such as an instant-transfer service which allows users to add money from their Venmo balance to the card. In just 30 minutes or less, the funds should appear in the card’s balance.

It should be noted that there is a 1% fee charged for this service, with a minimum transfer of 25 cents and a maximum limit of $10¹.

Essentially, what the Venmo Mastercard debit card does is allow customers to take their Venmo balance with them wherever they go. Provided, of course, that they don’t plan on leaving the US or making international payments.

It’s a card that’s very convenient to have if you have a Venmo account and would like a way of making purchases in stores that’s free from charges.

There’s also a useful app that is compatible with the Venmo card called the Venmo app. In the app, customers can track payments made with their Venmo card and perform other useful functions. It’s even possible to disable the card through the app, just in case it gets lost or stolen.

Here are the fees associated with the Venmo card:

Type of fee	Cost
Withdrawal fees at Moneypass ATMs	None²
Withdrawal fees outside Moneypass network	$2.50 plus potential additional charge by ATM owner²
Monthly fees	None²
Foreign transaction fee	N/A
Card order fee	None²

How do I get a Venmo card?

You have to be a customer of Venmo to apply for the Venmo card, and it’s easiest to download the Venmo app to get your hands on one. Here’s exactly how to get a Venmo card:

1. The first thing you need to do is open up the Venmo app on your smartphone or tablet.

2. Tap the menu icon which is at the top left-hand corner of the screen, and swipe down to select the ‘Venmo Card’ option.

3. On the Venmo card splash screen that pops up, hit the large ‘Get The Venmo Card’ button at the bottom.

4. You will then be presented with various Venmo card colors, so pick one, and then click ‘Next’.

5. Enter your first name and last name as shown on your driver’s license and press ‘Next’.

6. Now enter the last four digits which appear on your social security number, and also your date of birth. Check the box at the bottom once you’ve read the terms and conditions, then click ‘Next’.

7. Enter your shipping address and press ‘Next’.

8. Now decide whether you want your card to automatically reload if the balance gets low, and enter the bank details you want the money to come from. Press ‘Next’.

9. Check that the information you provided is correct, and then press the ‘Submit’ button at the bottom of the screen. After you’ve completed this process, you will be given an estimate on how many business days it will take for the card to arrive as well as a confirmation of your details. When you receive it, you will be able to activate the Venmo card and start using it.

Now you know how to get a Venmo debit card, you’ll be able to use your linked funding source when you need to.

How do I reload my Venmo card?

If your Venmo balance is low and you don’t have sufficient funds to make card purchases, then you have the option of reloading your Venmo card to complete the transaction.

When you have reloads enabled, you will be able to top up your card from your chosen bank account in increments of $10 at a time.

In order to activate reloads on your Venmo card, simply open up the Venmo app on your phone, select ‘Settings’ and then ‘Venmo Debit Card’. From here you will be able to toggle reloads on or off, provided you have given details for your bank from which the funds can be taken.

Venmo card: Pros & Cons

In this table, you can find out more about the pros & cons of the Venmo card:

Pros	Cons
You can withdraw money free of charge at all MoneyPass ATMs within the US. With card reloads you can make purchases even when your Venmo balance is low. You can use the Venmo card all over the US, anywhere MasterCard is accepted.	If you withdraw money from an ATM outside the MoneyPass network, it will incur a fee of $2.50². It isn’t possible to make international payments with the Venmo card. There is no sign-up bonus with the Venmo card.

Should you get a Venmo card?

The Venmo card is simple to use, and allows customers of Venmo to make purchases even when their Venmo balance is low through instant fund transfers.

It’s a card which allows you to access your Venmo balance much quicker, which is useful for in-store purchases. Plus, you can use it at any merchant in the US that accepts MasterCard as a form of payment.

There are no fees either when making purchases, which is always a plus.

Of course, whether or not the Venmo card is the right option for you will depend on various factors.

If you already have a credit or debit card, there may be no obvious reason to make the switch, and there are other alternatives which may be a better fit for your lifestyle.

Venmo card alternatives

There are many great cards that could serve you well and work with your spending and saving habits.

PayPal credit card

The popular payment platform PayPal offers customers two credit cards: the Cashback Mastercard and the Extras Mastercard.

The Cashback card offers 2% cash back rewards and has no annual fee, though there is no sign-up bonus.

The Extras Mastercard has a points system based on three tiers, which can lead to rewards like gift cards, cash back, and travel vouchers. Again, though, there’s no sign-up bonus with this card and your points do expire after two years.

Wise debit card

Another great alternative can be a Wise debit card. It just takes a couple of minutes to get one – and there are no monthly fees involved.

With a Wise debit card, you can spend abroad without hidden fees and hold more than 40 currencies for free. It’s a multi-currency debit card which offers totally transparent and super-cheap currency conversion for any currency.

With it’s smart technology, you’ll always pay in the local currency, and if you don’t have the currency in your account, the card will automatically convert it for you – from the balance that’s the cheapest for you.

Frequently asked questions

Is the Venmo card free?

The Venmo card is free, and easy to acquire if you have the Venmo app.

Do you need a bank account for Venmo card?

Yes, if you don’t already have a Venmo account balance, you will have to set up a US bank account.

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Sources:

1. Venmo - Instant Transfers FAQ
2. Venmo - Fees
3. Venmo - Debit Card Reloads

All sources checked on 6 July 2021