How to Add Money to Venmo?
Contents
Venmo is an easy-to-use, convenient, and secure payment system for peer-to-peer transactions. It allows users to send money and split bills, and even has a social network feature with text messages and statuses. What is great about having cash on your Venmo balance is that you can make instant transactions whenever you need, without waiting days for a bank transfer to be processed.
While the Venmo app setup is fairly straightforward, the next step is a bit less so: how do you add money to Venmo? In this guide, you will learn the main methods to add money to Venmo, account requirements, and what to do if the balance feature remains unavailable.
Requirements for Adding Money to Venmo
Signing up for Venmo is easy, but there are some things to keep in mind. Before we discuss how to add money on Venmo, we should talk about the requirements you must meet to do so.
Venmo Balance Feature Eligibility
You need to be eligible for this feature and have it enabled before you can add money to your Venmo balance. The requirements are to complete the app’s identity verification, reside in the United States, and be at least 18 years old.
Linked Bank Account
Once you link your bank account to Venmo, you can add funds to your Venmo balance whenever you need. You can connect your savings or checking account, provided it is US-based.
Supported Devices and App Version
Venmo is available on both Android, and you can install the app from the corresponding app stores. However, your iPhone should have iOS 14.0 or later, while an Android should have Android Lollipop (API 26) or higher.
No Issues with Your Account
You can’t add cash to Venmo or transfer funds to your balance if there are any problems with your account. If your Venmo account is suspended, you’ll need to unblock it first.
Methods to Add Money to Your Venmo Account
Now, let’s tackle the question of how to add money to a Venmo balance. There are several ways to do so, allowing you to choose the most suitable one.
Using a Linked Bank Account
Have you been searching “How do I add money to Venmo?” The first method you should know about is using your linked bank account. Once your bank account is connected to Venmo, you can transfer money from it, with the funds usually appearing on your Venmo balance after 3–5 days.
Before you link a bank account, you can also find the answer to “Does Venmo have a limit?” in our step-by-step guide, available on both PCs and smartphones. Also, make sure to look into whether Venmo charges any fees.
To link a bank account using the app, you’ll have to do the following:
- Go to the Venmo app and head to the “Me” tab.
- Go into your Wallet.
- Select the “Add a bank or card…” option and click on “Bank.”
- Choose the verification method and go through the authorization process.
Last but not least, once your bank account is connected, be sure to verify it before making any transactions to avoid messing up money transfers due to incorrect bank details.
Once you’ve completed these steps, you can transfer funds from your bank account to your Venmo:
- Open the app and click the “Me” tab.
- Go into the “Wallet” and select “Manage Balance.”
- Click “Add Money.”
- Choose the linked bank account or bank card you want to use to fund your Venmo.
- Enter the amount and click “Add.”
Please note that if you’re using a debit or credit card, the transaction will go through instantly. However, if you use a bank account, the funds will take a few business days to show up in your balance.
Can your Venmo get hacked? For more information, you can read our article on this topic.
Receiving Payments from Other Users
You won’t have to do anything to receive payments from other users. Whenever someone sends you funds, they will automatically appear on your balance. All you have to do is provide another person with a QR code, your username, or your phone number. What is great about this method is that the money should appear in your account almost instantly.
Adding Funds with Direct Deposit
Do you still wonder how to add cash to Venmo? Another solution to how to transfer money to Venmo is via a direct deposit, which is a method most commonly used to receive money from an employer. To receive money this way, you'll need to share your Venmo account routing number with your employer, who can then send you the funds.
What does Venmo charge for business transactions? For detailed information, check out our previous article on the topic.
How to Enable Venmo Balance (If Not Available)
Sometimes, your Venmo app may refuse to show you the balance feature. This problem usually occurs due to the incomplete verification process. To have a Venmo balance, you must prove that you are not a fraudster. To complete the verification process, you’ll have to do the following:
- Tap the “Me” tab in the app.
- Tap “Settings” and choose "Identity Verification.”
- Follow the prompts and provide the required information, such as SSN, full name, and date of birth.
Note that identity verification can be completed only in the Venmo app. Usually, once you provide all the necessary information, your account will be verified in a few minutes.
PayPal or Venmo? It’s crucial to weigh both the disadvantages and benefits of Venmo and PayPal. This way, you can make a well-informed decision about which option is best for you.
Final Thought
In this article, we’ve gone over how to add money to Venmo, and as it turns out, it’s quite simple. Regardless of the method you use, you’ll need to be at least 18 years old and reside in the United States. Once your Venmo account is verified, you can link your bank account, accept funds from other users, or even receive direct deposits from an employer. Overall, Venmo is a secure way to send and receive funds and even make purchases online.
