How to add money to Venmo?

To start using Venmo:-

• Download the Venmo app for iPhone or Android, or go to Venmo.com.
• Create a Venmo account.
• You can also link your account to a bank account, debit card or credit card.

To receive money on Venmo:

• Give your Venmo user name or the email or phone number associated with your Venmo account to the sender
• Or supply them with your Venmo scan code in person or via text, email or AirDrop (iOS only)
• The money will land in your Venmo balance

To send money to Venmo:-

• The money you send will be pulled from your Venmo account
• If the account is empty or doesn’t hold enough to cover your purchase, Venmo will draw the total purchase amount from the bank account, debit card or credit card you’ve linked to your Venmo account

How much does Venmo cost?

That depends on what you want to do. For example:

• There’s no charge for setting up a Venmo account and sending or receiving money from it.
• There’s also no charge if you link your Venmo account to a bank account or debit card.
• If you link your Venmo account to a credit card, purchases are free, but there’s a 3% fee if you use the card to send money to an individual. And your card bank may classify sending money as a cash advance. If that’s the case, you could face additional fees, an increased APR on the transaction and no grace period.
• Transferring money from your Venmo balance to your bank account is free for a “standard transfer,” which takes one to three days, according to the company’s website.
• Instant transfers (moving your Venmo balance to your bank account typically within a half hour), require an eligible debit card or bank account and carry a 1% fee (with a 25 cent minimum and a $10 maximum), according to the site.

Is there a limit to how much money someone can send and spend through Venmo?

• When you open a new Venmo account, the weekly limit on transactions is $299.99, according to the Venmo site.
• After your identity has been verified, you’ll have a weekly “rolling limit” of $6,999.99, according to the site.
• Other types of transactions may have different limits.

What happens if I send a Venmo payment to the wrong person or for the wrong amount?

Once you send money via Venmo, it’s gone. Venmo payments cannot be canceled.

If you send the wrong amount or to the wrong person, Venmo recommends you ask the recipient to return it. If you don’t hear from the person who received the funds by mistake or need help sending a charge request, Venmo suggests contacting its support team.