How To Add Money to Venmo

Venmo safe and secure

Money is a much less tangible thing nowadays. It floats in the ether from one account to another. When it comes to payment apps, it can get confusing as to where the money is coming from and to whom it is going. 

Venmo makes this process both accessible and user-friendly. This app started as a free way to send money to peers from either an iPhone or Android device. Though now you may see fees from time to time, it is still essentially an inexpensive way to send or receive money. So how do you add money to your Venmo account?

How To Add Money to Your Venmo Account

Adding money to your Venmo account is not necessary to pay or request payment from someone. Money can be immediately transferred from a bank account, credit card or debit card. You do also have the option to add money to your Venmo balance if you would like to store it in your Venmo account. Here’s a look at each of these options.

A Better Way to Bank

Bank Account

Venmo can directly access your bank account through your account number and routing number. To link your bank account to your Venmo account, you can follow these steps:

  1. Go to the “Me” tab indicated by your photo or initials. 
  2. Select the settings icon.
  3. Choose “Payment Methods.”
  4. Select the “Add bank or card…” option and choose “Bank.”
  5. Once you’ve completed these steps, you’ll need to get verified. Choose between manual or instant verification.
    • If you choose manual verification, you’ll just have to enter your bank account number and routing number. Verifying an account could take one to two days, but it is important to do so to ensure funds are not lost.
    • To choose instant verification, you must have an account with a bank that allows you to submit your bank login information to Venmo for the transfer of your credentials and banking information.

Credit Card or Debit Card

Once your Venmo account is live and your bank account is verified, you can add a preferred credit card or debit card for transactions. To do so from the app, follow these steps:

  1. Go to the “Me” tab indicated by your photo or initials. 
  2. Select the settings icon.
  3. Choose “Payment Methods.”
  4. Select the “Add bank or card…” option and choose “Card.”
  5. Once you have chosen “Card,” you can either manually enter the card information or submit the information via your phone’s camera. 
A Better Way to Bank

If you are adding your card information from a computer instead of the app, you’ll need to follow these steps:

  1. Click “Edit payment methods.”
  2. Select “Add Debit or Credit Card.”
  3. Enter your card information.

Good To Know

Anytime you need to change certain information about your card, such as its expiration date, the card has to be deleted and reentered manually on the Venmo app. 

Venmo Balance

To add money to your Venmo balance, you must have a Venmo debit card and a verified bank account. If you have both of these things, you can put money in your Venmo account by following these steps:

  1. Under the “Me” tab, select “Manage Balance.”
  2. Enter the amount you want to transfer and then click “Next.”
  3. Confirm that the bank account you want to transfer from is correct.
  4. Confirm the transfer information and arrival date.
  5. Confirm the amount to transfer.

Money can also be added to your Venmo balance when a peer pays you via the app. Unless you specify otherwise, the money stays in your Venmo account balance for you to either transfer back to your bank account or pay someone else. 

Takeaway

While money can be directly transferred from bank accounts or credit or debit cards, it is not necessary to add money to your Venmo account. However, you can either directly do so through a Venmo debit card or you can build your balance by being active on the app by receiving and giving payments. Funds paid to you through Venmo will stay in your Venmo account balance until you transfer them to another account. 

A Better Way to Bank

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

Share This Article:

A Better Way to Bank

About the Author

Caitlyn Moorhead has written content for a variety of businesses and publications. After graduating from Central Michigan University cum laude, she moved to NYC where she wrote columns, articles and plays for several years before relocating to Austin, Texas in the fall of 2020.
Learn More

1pximage