Venmo card review
The popular payment app now has a card, but it doesn’t work everywhere.
- Sign up for this card if you’re active on Venmo and want to dip into your balance to pay for in-store and online purchases.
- Pick something else if you often shop with overseas merchants or you need a card to use internationally.
$0 per month
Katia Iervasi is a staff writer who hails from Australia and now calls New York home. Her writing and analysis has been featured on sites like Forbes, Best Company and Financial Advisor around the world. Armed with a BA in Communication and a journalistic eye for detail, she navigates insurance and finance topics for Finder, so you can splash your cash smartly (and be a pro when the subject pops up at dinner parties).
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 doesn’t work outside the US, and cash withdrawals can be spendy.
How do I open a Venmo card
The process takes five to 10 minutes. Log into the Venmo app, then follow these steps:
- Go to the provider’s site and follow the steps to apply.
- From the Venmo app, on the left sidebar, click Venmo card.
- Click Get the Venmo card.
- Choose the color you’d like. Click Next.
- Type in your first and last name and click Next.
- 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.
- Provide your address and proof of identity, and continue to fill out the form.
How long will it take to get my debit card?
Once your application is approved, your Venmo card should arrive in five to seven business days.
When you have the card in your hands, you can activate it in the app. Go to Venmo card on the left sidebar and follow the prompts.
The Venmo card puts your Venmo balance in the palm of your hand. It’s also linked to your bank account so you have a backup payment method. Bonus: It makes splitting purchases easier.
However, it doesn’t work outside the US, which may be an issue for jetsetters and international online shoppers.
What you’ll like
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:
- Complimentary card. There’s no application fee and the card is free. Plus, you can choose from six card colors: pink, yellow, blue, green, white or black.
- 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.
- 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.
- 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.
- Nationwide ATM network. Dip your card into 39,000 MoneyPass ATMs across the country for no fee. Search for one close to you on the site.
- 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.
What to watch out forVenmo has successfully branched out beyond peer-to-peer payments with this card. But it has its flaws, including:
- 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.
- Withdrawal 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.
- Daily withdrawal limits. You can access a maximum of $400 daily, and all withdrawals are funded by your Venmo balance.
- 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.
- 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.
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.
Is Venmo safe?
Generally, yes. 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 with other accounts that offer debit cards
What should I know before I apply?
The card can only be issued to those with a Venmo account. This is the info you’ll need for the application:
- 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:
- US passport or government-issued ID
- Driver’s license
- ITIN Assignment letter
- DHS card
- Tribal ID card
- SSN card
And if they need further proof of your address, these documents will work:
- Bank, credit card or 401(k) statement from the past 12 months
- Utility bill from the past 12 months
- W2 form, paystub or IRS letter from the past 12 months
- Copy of your lease
- Car registration
Venmo reviews and complaintsVenmo has been accredited with the Better Business Bureau since 2016 and holds a B rating. The BBB has also issued a security alert advising customers not to use Venmo to send or receive money to people you don’t know, especially if the transaction involves selling or buying goods and services from the likes of Craigslist, Instagram and Facebook. As the BBB points out, Venmo doesn’t have a protection program in place for those kinds of transactions, so they can be risky.
As of October 2020, the BBB has registered 1,237 complaints in the last three years, most of which were related to problems with products, services and advertising. Venmo has a one-star customer rating — but this rating is based on only 162 reviews.
It’s a similar story on TrustPilot. Venmo has a 1.3-star rating based on 95 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.
I have the card. Now what?
Here’s how to make the most of your new card:
- Moving money across to your Venmo balance. There’s a $1,500 weekly rolling limit on adding funds to your Venmo balance. In the app, click Manage Balance > Add Money and enter the amount you’d like to transfer from your linked bank account. Tap Next > Confirm Transfer. Transfers typically take three to five business days.
- Enabling reloads. Card purchases are funded by your Venmo balance. By allowing reloads, if you attempt to buy something that exceeds your balance, Venmo will withdraw funds from your linked bank accounts in increments in $10 to cover the purchase.
There’s a weekly rolling limit of $100. To turn reloads on, off or to adjust your personal limit, log into the app and go to Settings > Venmo card.
Disabling your card. If you want to protect yourself from unauthorized transactions, you can disable the card with a tap in the app. Go to Settings > Venmo card or call 855-204-4090.
Contacting customer service. Questions? Reach the team by calling 855-204-4090 from Monday to Friday, 9 a.m. to 5 p.m. CST or emailing cardsupport@Venmo.com. Otherwise, you can fill out the email form on the Venmo site and select Venmo card question.