I resisted the various cash transfer apps for as long as a could. My primary issue was always security, and judging by the number of people who end up calling, crying and trying to get their money back, that wasn’t unfounded. But time marches on, and it turns out that, used properly, services like Venmo, Cashapp, and Zelle can actually be easier, better, and more efficient than the old, “I’ll get you next time.” It also eliminates the need to carry around smaller bills just in case you need to break a twenty in order to pay for something with friends.
Article Contents hide
1Venmo Debit Card Review Basics
1.1How To Get a Venmo Card
1.1.1Do I have to be verified to get a Venmo Debit Card? Yes. You must be verified to get a Venmo debit card.
1.2How To Get Cash From Venmo at ATMs
2Venmo Debit Card Features (The Good Stuff)
2.1Venmo Cash Back (Kind of)
2.2Early Paycheck Access
2.3Venmo App
3Venmo Debit Card Review Results
However, just because Venmo is a good idea, doesn’t mean that a Venmo debit card scam isn’t in the offing. So, let’s do a Venmo debit card review to make sure no one is getting cheated by Venmo, and answer is the Venmo debit card good.
Venmo Debit Card Review Basics
How To Get a Venmo Card
Venmo offers both a debit card and a credit card. To get a Venmo debit card you simply request one within the Venmo app or click the button on the Venmo debit card email they send out to verified Venmo users.
Do I have to be verified to get a Venmo Debit Card? Yes. You must be verified to get a Venmo debit card.
Like all debit cards, the Venmo debit card provides access to money you already have. The Venmo debit card is not a credit card, and you can’t spend more money than you already have in your Venmo balance.
The Venmo debit card access comes via the Mastercard network, which means, that with some unusual exceptions, you can use your Venmo card anywhere you can use credit cards. Generally speaking, you can use your debit card by either entering the PIN number, or by using your signature, although merchants may prefer you use your PIN so they can pay the cheaper access fees.
How To Get Cash From Venmo at ATMs
To get cash from Venmo using the debit card, you’ll need to hit up an ATM. The Venmo debit card free ATMs network are the ones that are MoneyPass ATMs. Just look for the MoneyPass logo on the ATM to ensure free ATM withdrawals. Keep in mind, that just because MoneyPass ATMs are free for Venmo card users, that doesn’t mean the ATM itself won’t charge you a fee, so be careful and read all the notices to ensure you are actually getting a free ATM withdrawal and not getting scammed into paying a fee.
If you use a non-MoneyPass ATM, Venmo charges a $2.50 fee. Remember, ATMs can belong to several networks at once.
Venmo Debit Card Features (The Good Stuff)
The Venmo Debit Card has no monthly fee, and no minimum balance. In addition, you get to choose what color Venmo card you get. Venmo cards have modern chip functionality, so you have the latest protection against skimmers and other physical hacking. You can add the Venmo Debit Card to Apple Pay, Google Pay, and Samsung Pay. Which means you can use your phone to pay for stuff where the card reader supports tap to pay.
Venmo Cash Back (Kind of)
The Venmo debit card cash back requires that you use the Venmo app to activate offers for various merchants or purchases. When activated cash back is paid automatically to your Venmo balance where you can use it like any other money inside Venmo. Unlike other, more traditional debit cards from your local bank or credit union, Venmo cards do not pay cash back on all purchases, or even an ongoing category of purchases. You have to find and activate these cash back offers.
Early Paycheck Access
The latest trend from banks and cards is the early pay, sometimes called early paycheck, or early access. Like all other versions of this perk, in order to access your pay early, you have to set up direct deposit from your employer.
Unbeknownst to many, but knownst, to us, when an employer pays their employees by direct deposit, they connect with the various financial institutions their employees bank at and presend the file that has the employee’s bank information, as well as the amount of money that will be transferred. They set a date to actually transfer the funds. Thus, Venmo may know as early as 3 days before your pay is actually deposited that it is coming.
Early pay simply lets you have the funds that Venmo already knows is coming before the official deposit date. If your employer does not presend those files, or if they only do it one or two days before, then your early pay will not work, or will only work for a couple of days in advance. The Federal government sends their files even earlier, often as many as 5 days in advance, so you can get your tax refund early as well, assuming you set it to direct deposit to Venmo.
Venmo App
The Venmo debit card obviously requires the Venmo app to manage it. However, if you are a big enough Venmo user to get a Venmo debit card, you are probably already an expert at using the Venmo app. If not, be sure to read and practice all of the options including the ability to stop, or pause your card should you ever misplace it, or otherwise lose control of the card.
As with all credit cards and debit cards, you should carefully monitor all transactions to prevent fraudulent use of your card. All Venmo transactions are displayed in the app. If there is ever a transaction you do not recognize, stop your card and call Venmo immediately.
Venmo Debit Card Review Results
If you have a bank account and a debit card already, then the Venmo debit card doesn’t provide much extra value. If you are unbanked, or just don’t really like dealing with your bank (you should get a new bank or credit union) then the Venmo debit card certainly can’t hurt anything.
If you are underage, consider the Venmo Teen Card which is a debit card that your parents, or other 18-year-old is responsible for you.
