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Review by Katia Iervasi is a staff writer who hails from Australia and now calls New York home. Her writing and analysis has been featured on sites like Forbes, Best Company and Financial Advisor around the world. Armed with a BA in Communication and a journalistic eye for detail, she navigates insurance and finance topics for Finder, so you can splash your cash smartly
(and be a pro when the subject pops up at dinner parties). Not to be confused with its credit card, the Venmo debit card is best for those who are already Venmo users and want to do more than just transfer money. The debit card allows cardholders to make purchases online or in-store. But if you’re thinking of traveling abroad, this isn’t a good option as it restricts you from shopping with international retailers. This innovative card allows
Venmo users to access their balance to pay for goods at the point of sale. If you don’t have enough to fund a purchase, you can also give Venmo permission to pull the money from your bank account. But while the card is handy, it won’t replace your bank’s debit card since there’s no way to fund your account with cash and check deposits are pricey. You’ll need a Venmo account before you can apply for a Venmo debit card. The process takes five to 10 minutes after you’ve signed up for Venmo. To open a Venmo debit card, log in to the Venmo app, then follow these steps:
EligibilityThe card can only be issued to those with a Venmo account. While the Venmo debit card doesn’t require a credit check, you’ll need to meet several requirements:
Required informationDuring the application process, you’ll need to input:
If Venmo asks for additional proof of identity, you can submit a:
How long will it take to get my debit card?Once your application is approved, your Venmo card should arrive within 15 business days. When you have your new colorful Venmo debit card, you can activate it in the app. Go to Venmo card on the left sidebar and follow the prompts. The Venmo card comes with an integrated app and can be used anywhere in the US that accepts Mastercard. It also comes with a string of benefits:
Venmo has successfully branched out beyond peer-to-peer payments with this card. But it has its flaws, including:
Looking for something more, or just want to get a better idea of what else is available? Compare your options with our guide to debit cards. Withdraw cash at any of the 37,000 MoneyPass ATMs nationwide for free. If you use a Mastercard, Pulse or Cirrus-accepted ATM, Venmo will charge a $2.50 fee. ATM withdrawals that require a signature cost $3.00 per transaction. Venmo’s ATM fees are in addition to any applicable ATM owner or bank fees. Venmo has been accredited with the Better Business Bureau since 2016 and holds a A+ rating. As of December 21, the BBB has registered 2,255 complaints in the last three years, most of which cite problems accessing frozen accounts. Venmo has a one-star customer rating based on 325 reviews. It’s a similar story on TrustPilot. Venmo has a 1.3-star rating based on 303 reviews. Elsewhere, the peer-to-peer payment app has been praised for the card. Tech-minded sites say that introducing a physical card was a good move, though Venmo could improve the card’s design and interest-earning potential. Cardholders say it’s easy to use, but there were initial issues with reloads and the card being declined at the register. Venmo uses highly-rated data encryption to protect your private information. There are also safeguards in place to help you log out of the app from Venmo‘s website if you misplace your phone. As with most peer-to-peer (P2P) payment services, the biggest threat to your safety comes with sending or receiving money from people you don’t know. See how the Venmo debit card stacks up against other debit cards by comparing features like interest rates and ATM access. The Venmo debit card comes with several ways to add funds and spend your cash. But some methods may come with fees. Deposit options
Withdrawal options
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