Various digital wallets are being used in the market as we speak. Among them is Venmo. It is a mobile app that enables sending money among the account holders. The sender and the recipient must be within the United States of America. This means that Venmo does not support international transfers. Apart from transferring money from one Venmo account to the other, there is also a way on how to transfer money from Venmo to a Cash App. I will discuss Venmo to Cash App money transfer later in this article. Just stay around.
In the modern-day world, the use of digital wallets has become popular and especially to the millennials, also called Generation Y. This is a group of people who are confident, ambitious, and focused. Even most of the technological advancements are as a result of this generation born between 1981-1996. The greatest number of people using apps such as Venmo, Cash App, PayPal, Facebook Pay, and so on are among the Generation Y cohort. The payment wallets allow you to link them to your credit cards and bank accounts.
Cash App has a Cash card that acts as a debit card. This makes your account appear like the ordinary bank accounts which have the routing and account numbers. Therefore, you can transfer money using the routing number and account number to a Cash App account with ease. The Cash App Cash Card is a Visa debit card and you can use it in all places where Visa is acceptable such as restaurants, groceries, supermarkets, and movie theatres among other places.
Overview of Venmo
Venmo is a peer-to-peer payment platform from PayPal. Venmo, just like PayPal, offers great security to the account holders to prevent frauds that may lead to loss of money. It uses an encryption mechanism to ensure that data does not leak to the wrong people.
Unlike PayPal, Venmo requires you to create an account with them before sending money to others. The company has had various ownerships whereby in 2012, Braintree bought it. Later on in 2013, PayPal acquired Braintree. Up to today, Venmo is still a subsidiary of PayPal.
You can link your credit or debit card to Venmo so that you can use it to fund your transactions. The company charges you 3% to send money from your credit card or debit card. However, sending money from your Venmo balance is free. Similarly, using your bank balance to send money to others is free.
Again, to transfer money to your bank account is free for the standard way although for instant transfers the company charges 1% of the amount to transfer. It is thus cheap to use Venmo for your transactions.
Like I had mentioned earlier, Venmo does not support international money transfers. That is a disadvantage but it should not worry you since you can still use PayPal to transfer money to other people across the world.
Recipients of money by PayPal can withdraw it to their banks and maybe send the money with a checking account number to other people, withdraw at ATM point or in the bank over the counter, or even use their debit cards to pay for goods and services.
What is Cash App
If you are wondering what Cash App is, then it is not different from Venmo. It is an app for sending and receiving money. It is a payment service developed by Square in October 2013. The app was formerly known as Square Cash as square developed the app to compete with other payment platforms such as Venmo, Apple Pay, and Google Pay.
The app is fast and safe to use and as a smartphone user, you can get it at the relevant application download sites such as Google Play store for Android and App Store for Apple iPhones.
Interestingly, the app allows you to send money for free to other Cash App account users. It is also possible to transfer funds from the Cash App to your bank account. Furthermore, you can link payment cards by Visa, American Express, Discover, or MasterCard.
This means that you can load cash from Cash App to your card to use for Payments of goods and services. As well, you can use your linked card to fund various transactions with Cash App.
Note that you can use the Cash App wallet even when not linked to a card, it means that it is independent. It is one of the simplest money apps you can find today.
Can I transfer money worldwide via Venmo?
You cannot transfer money worldwide using Venmo. The company only supports domestic transfers in the US. Maybe in the future, Venmo will go global just like the parent PayPal and other payment platforms such as Payoneer, Google Pay, Skrill, and others. International money transfer helps companies to pay their remote employees in other countries easily.
If you have money in your Venmo account and would like to send it to someone in another country, you can simply transfer the money to your bank account, then transfer it to your PayPal account or any other relevant payment wallet such as Payoneer. Sending money with PayPal and Payoneer is instant although recipients will have to wait for around 1-5 days for the money to reflect in their bank accounts once they initiate the withdrawal.
The time taken to wait depends on the bank you are transferring the money to. Also, there are charges involved when transferring money to your bank account. PayPal and Payoneer mostly convert the money to transfer at a lower rate as compared to the prevailing exchange rates to cater to the transaction fees. This is a tricky way to make users believe that the transaction is free when in a real sense it is not.
Venmo to Cash App money transfer process
Transferring money from Venmo to Cash App is a process but not that complicated to carry out. Although not as good as the parent app PayPal which is one of the best ways to transfer money internationally, Venmo is an amazing money app to use.
There are various ways you can use to transfer funds from Venmo to Cash App. You can set up a direct deposit for your Cash App account or use your bank account linked to both Venmo and Cash App. Let’s look at each of the two ways.
1) Transferring Venmo Money to Cash App through Cash App Cash Debit Card
You can add your Cash App Cash Debit Card to your Venmo account so that you can transfer money directly from Venmo to your Cash App. The following steps show you how you can add your Cash App Cash Debit Card to your Venmo account.
- On your Venmo App, tap the three horizontal lines (≡) on the top left corner.
- Select “Manage Balance”.
- Select “Transfer to Bank”.
- Choose the Amount of Money to transfer to your Cash App account.
- Choose Instant Transfer. Avoid choosing the “Business Days” unless you have the Cash App routing number and account number with you.
- After that, select “Transfer to” and select your card from the list of cards displayed.
- Tap on your Card.
- Next, choose Debit Card as the option to add your Cash App Cash debit card details.
- Enter all the card details and select “Add”.
- The Cash App Cash Debit Card will appear on the list.
- Select the Cash App Cash Card and confirm all details before tapping on “Transfer”. Check the balance within a few minutes.
2) Using Venmo Card to transfer money from Venmo App to Cash App
As far as you can add only one bank detail to your Cash App card, you can as well add debit and credit cards and use them to fund your account. Even a second chance credit card with no security deposit can be added. Now, it means that you can use your Venmo Card to fund your Cash App account as shown below.
- Log into your Cash App and navigate to Cash App Balance.
- Locate and select the option “Add Debit Card”.
- Put the details of the Venmo Debit Card to your Cash App and select the “Add Card” option.
- Select “Add Cash Button” and enter the amount of money to add to your Cash App from your Venmo account and select Venmo Debit Card as the method to add funds and tap “Add Cash”.
- Once the process is complete, the money will be added to your Cash App from the Venmo Account.
3) Sending Venmo Money to Cash App via Bank Account
If you have linked your Venmo app with the same bank account that you have linked to your Cash App, then you can transfer money from your Venmo to your bank account and then use the money in your bank account to fund your PayPal account. Similarly, you can transfer money from Cash App to your bank account and then to Venmo.
If you have a Cash App card, you can even send money online using your bank account’s debit or credit card to the Cash App card as long as you know how to transfer money from a debit card to another debit card.
The first thing you need to do is to log into your Venmo account and transfer funds into your bank account using your Android or iPhone and follow the following steps.
- Tap the V icon on your screen.
- Add your bank details on the space provided and verify your bank account.
- Tap the three horizontal lines at the top section of the Venmo app.
- Next, tap on the “Manage Balance” section and select “Transfer to Bank” Enter the amount to transfer.
- Choose the transfer type. There is an “Instant” or 1-3 “Business Days”.
- Next, choose either your bank account or your debit card and check that all the information is correct.
- Select the “Transfer” button.
- Check whether the funds reflect in your bank account if you used instant money transfer or check within three days for the standard transfer.
- Finally, log into your Cash App account and transfer money from your bank account to your Cash App account.
Transfer of money from your bank account to your Cash App account involves the following steps.
- Select the balance tab on the Cash App home screen and choose “Add cash”.
- Enter the amount to transfer.
- Enter your Pin or Touch ID, whichever is suitable for you.
- Once you authorize the transfer, you will be able to see the balance in your Cash App account.
What should I do if any issues take place while you send money from Venmo to Cash App?
The only thing that has no flaws is the one made by God. Anything made by human hands can develop issues. This means that you can face some issues when sending money from Venmo to Cash App. However, this should not be an issue at all as there are solutions for everything.
Some of the common issues you can encounter are messages such as “an error occurred while processing your request”, “cannot connect to servers”, “operation not successful” among many troubleshoots. One of the most reliable solutions is closing the app and then opening it. You can clear the app data and then enter once more when you open the app. You can as well shut down your phone and switch it once more.
If the problem persists, you can contact customer care and highlight your problems. Sending them screenshots will help very much. You can contact Venmo by mailing to Venmo, calling 1-855-812-4430, sending a letter to 117 Barrow Street, New York, NY 10014, or visiting venmo.com/contact-us.
Venmo app is free of charge. However, some services are chargeable. Some of the common fees you will encounter at Venmo includes;
- 3% of the amount to transact if you use a debit or credit card to fund your account.
- 1% per transaction or a minimum of 25 cents when you perform an instant transfer. Instant transfer happens within half an hour. The 1-3 “Business Days” transfer options charge no fees.
When buying from merchants that accept Venmo payments, no fees are charged. So generally, Venmo is a cost-effective app that will save you considerable amounts of money and especially if you reside in the US. If you compare the app by using payment cards, the app wins.
Even Cash App charges some fees. You pay a 3% fee if you use a credit card to send money. However, making payments using a debit card or bank account is free. If you request an instant transfer of funds from your Cash App to your bank account, you pay a 1.5% fee.
How much can you send?
In one week, the maximum amount you can send using Venmo is $299.99. This is if you have not verified your identity. Unverified Venmo accounts cannot be trusted as they can be avenues to send money meant for criminal activities such as terrorism or illegal drug business. People with Venmo verified accounts can send up to $2,999.99 per week in one or multiple transactions. Quite interesting!
To verify your account, you need to submit your name, physical address, Social security number (SSN/ITIN), Zip Code, and Birthdate. Furthermore, when your account is not verified, you can only send $999.99 from Venmo to your bank account per transaction.
For a verified account, you can transfer up to $19,999 per week to your bank account. You can use the money in your bank account to buy goods and services or even pay for your bills as long as you understand how to withdraw money with an account and routing number.
When verifying your account, navigate to Settings,” and tap “Identity Verification.” Look for the ☰ icon. That’s where you will be able to access your account settings.
It is easy to transfer money from Venmo App to Cash App. You can use Venmo Card to transfer money from Venmo App to Cash App, Send Venmo Money to Cash App via a bank account whereby you have linked both Venmo and Cash App accounts to the bank account, or Transfer Venmo Money to Cash App through Cash App Cash Debit Card.
Most importantly, note the Venmo fees involved in various kinds of transactions. Unfortunately, Venmo can only be used in the US. You can transfer funds from Venmo to a bank account and to PayPal to send to other countries.