Can You Use A Prepaid Card on Venmo?

Can You Use A Prepaid Card on Venmo in 2024?

Published on: September 18, 2022
Last Updated: September 18, 2022

Can You Use A Prepaid Card on Venmo in 2024?

Published on: September 18, 2022
Last Updated: September 18, 2022

Venmo is one of the most popular money transfer apps available on IOS or Android. It is a mobile payment service that PayPal owns.

It is an easy way to send and receive money, making it nearly essential today.

With the help of the Venmo app, you can essentially pay or request payments from friends, families, or anyone who also has to have it installed.

It acts as the middleman, virtually taking the money from one bank account to the other, and you simply have just to type in a few words to make it happen.

In this case if you do not need physical cash or wallets, the app sends in notifications and makes the whole process relatively simple.

The Venmo app must be linked to an active and working bank account or card for the app to work.

What Are The Multiple Advantages of Using The Venmo App?

venmo

Quick and Convenient Payments

Being easy to use is a significant advantage of Venmo and essentially why it has garnered a lot of popularity in the past few years.

It has a relatively easy interface, and you can download it and start sending or receiving money in minutes.

Additionally, Venmo also makes it much easier to split expenses; it offers on-screen calculators when it is time for a transaction.

So, for example, if you are at a group dinner, you can simply send or ask for the same amount from all of them at once.

When withdrawing money from your Venmo balance, it may take a few business days- between one to three – to transfer money to your bank account.

However, Venmo offers instant transfers at a certain percentage fee if the money is needed faster. 

Basically It Is Free

Venmo does not have any regular fees, such as monthly or annual fees, which you would expect from other monetary services.

There is also no fee to send money from one bank account, debit card, or Venmo balance to another.

Credit card payments have a small fee, but that is usually standard among payment apps.

There is also no fee when you have to receive money or when you have to transfer it to your bank account.

However, this would not be the case if you opt for an instant transfer instead of a standard transfer.

Can Pay For Transactions At Certain Businesses

With the rising use of Venmo, more and more businesses are allowing it as an acceptable form of payment.

Another great advantage is that Venmo allows you to pay for certain goods and services and several apps and websites. These include Uber, GrubHub, Hulu, Poshmark, and Foot Locker.

When Shopping from a place that will enable Venmo payment, you can just zoom through the whole process.

Adds A Fun Social Element to Payments

The intelligent thing about Venmo that sets it apart from your typical payment apps is that this particular app includes popular features generally found on social networks, including likes, comments, and messages that you can find attached to each payment.

It’s not something that everyone may be excited about, but to many others, it is a fun thing to explore on the app and makes the whole process more fun for its users.

Offers A Special Venmo Payment Card

Frequent Venmo users may be interested in one of its payment cards, a credit card or a debit card.

The Venmo Debit Card is connected to your Venmo balance, and it doesn’t charge an annual fee. It also has cashback offers with some stores.

The Venmo Credit Card does not have an annual fee and is a rewards card. It divides your purchases into different spending categories. Within these categories, you earn several awards.

So, for example, every month, you could earn 3% cashback on your top category of purchases, 2% back on your second biggest category that you’ve spent on, and a 1% cashback on everything else that does not fit into the first two.

Now that you understand the advantages of using Venmo, such as its convenience, it is essential to know what type of cards you can link to it.

So credit cards and bank accounts can be linked; however, if someone were to receive a gift card or another form of prepaid card and you have to try to figure out whether these can help you pay through the app. 

Can Prepaid Cards Be Used On Venmo?

Essentially, the answer is yes; Venmo can connect to multiple cards, and these do include some prepaid cards but then what prepaid cards work with Venmo? Let’s find out.

What Prepaid Cards Work With Venmo?

Venmo can hook up to multiple prepaid cards, but firstly, these cards need to be network branded.

So it would accept prepaid or gift cards from American Express, Discover, MasterCard, and Visa.

Hence, if you have a gift card from any of those brands, you can add them to your account.

Luckily, most of the prepaid cards in circulation are issued by those mentioned above, and therefore, this would make it quite easy for you to use them.

Additionally, there is also the possibility of added benefits with certain cards. So among the options available, what prepaid cards work with Venmo?

Here is a list of possible ones

Vanilla Gift Card by Visa

This is probably one of the more popular Visa Gift Cards available. You can use it as a form of contactless pay by using a mobile wallet.

Also, you can create a customized version of the card with any unique image, which makes it a fun gift.

PayPal Gift Cards by MasterCard

The PayPal account balance can be used directly on the Venmo app through this gift card. Additionally, you would also receive various cashback benefits from MasterCard.

Multiple Prepaid MasterCar

Several prepaid MasterCard can be linked to your Venmo to make payments.

They can be issued from several famous issuers such as Brinks or Net speed, and since the fee is usually low on these cards, using them is quite efficient.

Adding A Prepaid Card To Your Venmo Account

Venmo

After learning what prepaid cards work with Venmo, it is also important to walk through the step-by-step process of how to link your MasterCard or gift card to your Venmo app.

If you are new to Venmo, you would begin by installing the app on your phone, and then when it is time to add any form of payment, be it a bank account or a specific card, you would need to complete the identity verification for the app.

It is part of the law, and it is mandatory that all information is correct and up to date, or there would be complications and problems with your money transactions moving forward.

  1. Open the Venmo app. You begin by opening the app and pressing the menu button, which you will find on the top left corner of the screen. Three horizontal lines represent this.
  2. Then you tap ‘Settings.’ Under ‘Preferences,’ in the Settings menu, tap “Payment Methods,” the second item down.
  3. Press’ Payment Methods’. Here you will see a list of your current payment methods on your account. This account should be verified.
  4. At the bottom of the Payment Methods menu, you will see “Add bank or card…”
  5. Once you press that, tap’ Card’ in the menu that pops up, which is the second option.
  6. Once you see a page pop up, you can begin filling in your prepaid card information into the relevant fields. Be sure to fill in everything carefully.
  7. To make it easier, you can press the camera button next to the blank “Card Number” field and take a picture of the card. This will let the app automatically fill in the information.
  8. Under zip code, enter your own; if the card isn’t officially registered to any address, it shouldn’t be an issue.
  9. Tap “Add” to add the card to your account.

However, as with individual cases, there are sometimes possibilities where the cards may not work. There could be reasons for this.

Prepaid Card Declined by Venmo, What Should Be Done?

Even though you might know what prepaid cards work with Venmo, it is possible to incur a problem when trying to register your gift card or prepaid card.

One of the reasons could be that it has declined because of lack of funds or is a fraud prevention policy by the Venmo App.

Additionally, if you carefully read through the conditions set out by Venmo for using prepaid or gift cards, it clearly states that the card being used should be registered under your name.

If there is a problem here and you have failed to fulfill this requirement, Venmo will immediately reject the card.

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Written by Jason Wise

Hello! I’m the editor at EarthWeb, with a particular interest in business and technology topics, including social media, privacy, and cryptocurrency. As an experienced editor and researcher, I have a passion for exploring the latest trends and innovations in these fields and sharing my insights with our readers. I also enjoy testing and reviewing products, and you’ll often find my reviews and recommendations on EarthWeb. With a focus on providing informative and engaging content, I am committed to ensuring that EarthWeb remains a leading source of news and analysis in the tech industry.