Venmo has made sending money between friends possible, and it’s quite easy and fast. And comes with a popular appreciation by people.
Venmo supports thousands of banks and cards, ranging from Credit, Debit, Prepaid, and so on, in fact, Venmo is seen to support any type of card, you can think of.
You can connect multiple banks to Venmo, with the instant transfer, you can transfer funds from one bank to another, without having to wait for about 3 -4 days, while using the traditional banks.
Venmo, undoubtedly, stands as a middle between making transfers of funds, if you want to transfer money from one bank to the other, the best option you need to consider is Venmo.
Venmo was originally created for transfer purposes, and therefore, other Fintech apps that possess digital wallets may not be as efficient as Venmo, when it comes to transferring money between bank accounts.
By using Venmo, you make transactions Completely free of charge. You don’t need to pay a dime to Transfer money from banks to other banks using Venmo.
It is owned by PayPal and is personally meant for transferring funds between friends.
As I mentioned earlier, Venmo supports almost every card, although these Cards must be from a network branded, such as Mastercard, American Express, Discover, or Visa.
Undoubtedly, most cards are issued by these companies.
Therefore, in this article, I will be answering the question, of whether you can use your prepaid card on Venmo.
Can You Use A Prepaid Card On Venmo
A straightforward answer to the question is Yes, you can link your prepaid card on Venmo, as long as it is under a branded network, such as American Express, Visa, Discover, and the likes.
Once your card has been linked to Venmo, you can begin Transferring money to friends via Venmo.
If you have any prepaid card, like a vanilla gift card by Visa, or the PayPal gift card by Mastercard, and you want to add it to your Venmo account, you can follow the steps below:
- Step 1: Open the Venmo App, by tapping on it on your Device’s Home Screen.
- Step 2: Tap on the Three lines represented as the Menu, at the top left corner of the screen. This will open the Menu display.
- Step 3: Under the list of menu items displayed, tap on Settings, which is under the Preferences category.
- Step 4: Once you have tapped the Settings option, tap on Payment Methods. A list of all the Payment Methods you have added on Venmo will be displayed
- Step 5: Tap on the Add Bank Or Card, this option is to either link your bank account or your card to your Venmo account, in this case, you want to add your prepaid card. Therefore, choose Card, in the menu that pops up.
- Step 6: Enter your card details: you can begin manually filling the details of your card in the field, information like your card number, CVV, and expiring date.
Ensure that the information you are providing is the right and correct information, else, your card will be declined by Venmo.
To make it more automatic, you can tap on the camera near the blank Card Number field, this will require you to take a photo of your card, and the information required will be automatically entered.
- Step 7: Enter your Zip Code, and Tap the Add Button.
Once you have tapped on the Add button, then you can begin making transfers from your prepaid card to other accounts.
Prepaid Card Declined by Venmo, What Should Be Done?
Sometimes you might have violated certain terms and conditions associated with adding a prepaid card on Venmo, and therefore, it’s likely to lead to the declination of your card.
These are some reasons why you can be declined by Venmo.
Prepaid cards can only work when there is money on your card, if unfortunately if there isn’t any money on your card, your card will be rejected.
Most cards Accepted by Venmo are issued from network branded, if your card isn’t from either Mastercard, Visa, American Express, or Discover, it might get rejected by Venmo.
Fraud prevention Policy
Venmo comes with a fraud prevention policy, that helps handle fraud activities, while using Venmo, if your card is suspicious of any fraud-related activities, it will be declined by Venmo.
Mismatched of Name
The card you want to add on Venmo must have your name, this is started from the conditions stated by Venmo.
What Prepaid Cards Work With Venmo?
There is no doubt that once your card is issued from a network of branded issuers, then it will work with Venmo.
Here are cards that work quite well with Venmo:
Vanilla Gift Card by Visa
You can link your vanilla card on several digital wallets, Venmo inclusive, it is quite popular and is issued by one of the most popular card issues Visa.
Most Fintech apps accept the Vanilla Gift Card, and Venmo inclusive. Another amazing feature of the Vanilla Gift Card is, that you can apply for a customized version of your card.
The customization could be your image or your family image.
PayPal Gift Cards by MasterCard
The PayPal Gift Card is also another quite popular card from PayPal, issued from Mastercard.
With the PayPal gift card, you can have access to your PayPal account balance, right from your Venmo account.
It’s quite inquisitive and offers much cashback.
Can’t add a bank account on Venmo – How I Fixed It
Ensure that your bank or bank card is supported by Venmo, if your bank isn’t supported by Venmo then you can try out with other banks that are quite Supported on Venmo.
Do You Need a Bank Account for Venmo?
You might be wondering if you truly need a bank account for Venmo. Well, Venmo differs from other Fintech apps that possess digital wallets, in the case of Venmo, Venmo doesn’t have a digital wallet.
Therefore, all transactions made are between a bank account (Sending) and another bank account (Receiving). Venmo here stands as a middleman between these two banks.
You can see Venmo as a money transfer mobile app, where you can transfer money from one bank to another.
However, before you can transfer money on Venmo, you must link your bank (The bank you want to transfer money from).
Therefore, you need a bank account. But in the case where you want to add your gift card to Venmo, you certainly do not need a bank account.
MORE ON VENMO:
Now coming to the conclusion of this article, I am quite sure if you are aware that you can use several prepaid cards on Venmo, once it is Network Branded, and you haven’t violated the terms and conditions set aside by Venmo you are good to go.
However, if you are experiencing issues, regarding Venmo accepting your card, you can refer to this section once more Prepaid Card Declined by Venmo, What Should Be Done? If everything is correct, and you are still experiencing your card decline, then you can contact the Venmo support center.