Curious about how to activate Venmo debit card? Relax, this article is inclusive of everything you might want to know regarding the Venmo app.
Venmo is a payment app, exclusively made for the United States. The app allows you to send and receive money on the digital platform. Through the Venmo app, you can make purchases with various authorized merchants.
According to data, Venmo as of 2021 has above 80 million users. The app came into the market in the year 2009.
Interestingly the app is now an integral service of giant PayPal, Inc.Also just like the other cash apps. Venmo is not a bank but simply a financial platform. The app provides various banking services through its bank partners(mergers) to the users.
To download the Venmo app, simply go to the App Store (ios) or Google Play (android). A user can set up a direct deposit feature in their account by using a debit or a credit card to pay at various selected merchants.
Your username in the Venmo app is your identity. An individual will recognize you on the app through your Venmo username.
Moreover, the Venmo app allows an individual to purchase cryptocurrency as well. Also, the app is integral to some social components. Venmo allows you to use various emojis as well as stickers to elaborate your payments.
It also has a feature in which the users may switch their account public. This helps your acquaintance and friends to recognize you on the app. The feature also eases the recognition of various payments done on the app.
If an individual does not want to make their account public, switch to a private account in settings. The private feature limits your information and simply keeps it discreet.
How to activate Venmo debit card?
- A user can activate their debit card on the Venmo app by simply going to the CARDS tab.
- The section is available in the Venmo Debit Card section.
- Keep in mind to keep the card with you during activation.
- The app will ask for various details about the card during the time for activation so keep it handy.
The card links to the Venmo account. Also, at a time only one debit card can be active with your Venmo account. The card should be with the same name as your Venmo account.
VARIOUS FEATURES OF THE VENMO APP
MONEY – SENDING & SPENDING
- The app allows users to send money.
- To various individuals, merchants, retailers, and groups of people instantly.
- There is no hidden cost to sending money through the app via debit card.
- There is also a 3% transaction fee if you are using your credit card for the payments.
- Also. if your account does not have the due balance it allows you to do it through your other external payment method.
MONEY – RECEIVING & REQUESTING
- You receive your money in your Venmo account.
- You can choose to keep the money in your Venmo account or transfer it to the linked bank account.
- To request money simply type the name of the person or business, and enter the amount.
- You may add a note as well and tap the request button.
The Venmo app offers Standard and Instant features to send or receive money.
In Standard feature :
- The transactions are free and it usually takes one to three business days.
In Instant feature (since May 23, 2022) :
- It costs around 1.25% of the transaction.
- Minimum $0.25 fee and maximum $25 fee.
Also, business accounts are liable for various tax reporting. Moreover, the app charges 1.95% to the sellers along with a basic fee of $0.10 for every transaction.
Venmo is effective when you want to send money faster to your friends and family. Therefore, it is a vital app to use for shopping and paying bills. The app allows you to do payments to merchants as well. Also, through the app, you pay at particular retail.