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Venmo card review

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Venmo card
5.0
★★★★★
Finder score
Fee
$0 per month

Our verdict

The popular payment app now has a card, but it doesn’t work everywhere.

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.

Pros

  • Complimentary card
  • Cash back at Point of Sale
  • Automatic reloads
  • Cash a check
  • Strong customer service

Cons

  • Geographic restrictions
  • Withdrawal and check fees
  • Daily withdrawal limits
  • Not FDIC-insured
  • No interest
  • Transfer delays

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How to get a Venmo card

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:

  1. From the Venmo app, on the left sidebar, click Venmo card.
  2. Click Get the Venmo card.
  3. Choose the color you’d like. Click Next.
  4. Type in your first and last name and click Next.
  5. For the security check, enter your date of birth and the last four numbers of your SSN. Agree to the terms and conditions. Click Next.
  6. Provide your address and proof of identity, and continue to fill out the form.

Eligibility

The 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:

  • Physically in the United States
  • US cell phone that can send and receive text messages and support the Venmo app
  • Be at least 18 years old

    Required information

    During the application process, you’ll need to input:

    • Full name
    • Cellphone number
    • Home address — the system doesn’t accept PO box addresses
    • Social Security number
    • Date of birth

    If Venmo asks for additional proof of identity, you can submit a:

    • Government-issued ID, such as a passport or driver’s license
    • ITIN Assignment letter
    • DHS card
    • Tribal ID card
    • SSN card
    • Proof of address, such as a utility bill or bank statement from the past 12 months

    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.

    5 benefits of the Venmo debit card

    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:

    1. Complimentary card. There’s no application fee and the card is free. Plus, you can choose from five card colors: pink, blue, purple, white or black.
    2. Cash back at Point of Sale. If the merchant has a Maestro or PULSE device, you can withdraw cash from your card at no cost.
    3. Automatic reloads. If you enable reloads, Venmo pulls cash from your linked bank account in increments of $10 to cover purchases that exceed your Venmo balance. If you don’t allow reloads, the transaction is simply declined — so you’re not saddled with overdraft fees.
    4. Cash a check. This feature lets you deposit a check into your Venmo account using the mobile app. You won’t pay fees for stimulus check deposits, but expect to pay a 5% fee for hand-signed checks and a 1% fee for checks with a pre-printed signature, with a $5 minimum fee for each check.
    5. Strong customer service. Email or chat to a live agent during business hours by calling 855-204-4090. Deactivate your card 24/7 by dialing the same number.

      6 things to watch out for

      Venmo has successfully branched out beyond peer-to-peer payments with this card. But it has its flaws, including:
      1. Geographic restrictions. The Venmo card doesn’t work outside the US. You can’t use it with international merchants — even if you’re placing an online order from within the US.
      2. Withdrawal and check fees. You’ll pay $2.50 for each withdrawal at an out-of-network ATM, and $3 for over-the-counter withdrawals at banks or financial institutions. And expect to be out at least $5 each time you deposit a check.
      3. Daily withdrawal limits. You can access a maximum of $400 daily, and all withdrawals are funded by your Venmo balance.
      4. Not FDIC-insured. While the card is issued by The Bancorp Bank, an FDIC member, Venmo itself isn’t a bank. That means your funds are not FDIC-insured.
      5. No interest. Venmo encourages you to keep your cash in the app. This means Venmo — and its parent company, PayPal — makes interest on your money, whereas you would if you transferred it to a savings account.
      6. Transfer delays. Unless you use Venmo reloads, a manual transfer from your bank account to top up your balance takes three to five days to hit your account.

      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.

      Venmo’s ATM network and fees

      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 reviews and complaints

      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.

      Is Venmo safe?

      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.

      Compare Venmo with other debit cards

      See how the Venmo debit card stacks up against other debit cards by comparing features like interest rates and ATM access.

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      How do I deposit or withdraw my money?

      The Venmo debit card comes with several ways to add funds and spend your cash. But some methods may come with fees.

      Deposit options

      • Request funds from other Venmo users
      • Transfer funds from your linked bank account
      • Set up Venmo reloads
      • Deposit checks

      Withdrawal options

      • Domestic retailers that accept Mastercard
      • ATM withdrawals
      • Cash back at Point of Sale devices

      How to contact Venmo customer service?

      If you have questions or need customer support, reach the team by:

      • Calling 855-204-4090 from Monday to Friday, 9 a.m. to 5 p.m. CST
      • Emailing cardsupport@Venmo.com
      • Filling out the email form on the Venmo site and selecting Venmo debit card question.

      Frequently asked questions

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      Katia Finder

      Writer

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      Avatar

      Pamela

      May 10, 2019

      Can I deposit a check on to my venmo card at the ATM?


      Avatar

      Jeni Finder

      May 10, 2019

      Hi Pamela,


      Thank you for getting in touch with Finder.


      Currently, you can not deposit either cash or check on to your Venmo card via ATM. Please note that upon opening a Venmo account, you will be asked to link it to your active bank account.


      I hope this helps.


      Thank you and have a wonderful day!


      Cheers,

      Jeni


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