Can I Venmo Myself - Frugal Reality

Can I Venmo Myself? From Credit Card, PayPal, Chime, Apple Pay?

Peer-to-peer payment apps are booming as we recover from the pandemic era and the benefits from touchless pay are more apparent than ever. It enables users to make transactions without leaving their homes or standing in line at the bank open late at night.

According to eMarketer, peer-to-peer payment apps, such as Venmo, grew to almost 80 million users in 2020 and are expected to grow even faster in the future. 

Besides its convenience, Venmo is an industry leader because of its social media integration. For example, it lets users see what their friends are spending money on, which can be helpful for budgeting and tracking expenses.

Another unique feature of Venmo is that it offers a “$0 payment” option, which allows users to send money fee-free. A feature you may want to consider is the option to transfer funds to yourself.

So, can I Venmo myself?

Short answer: Yes, you can Venmo yourself. You can hold funds in your account and pay others from your Venmo balance. 

Remember that you must first verify your identity on Venmo and a Venmo Card. After your Venmo account has been verified, you can use your bank account or credit card to Venmo yourself.

We’ll discuss how you can Venmo transfer money to yourself or from one account to another, credit card, Visa gift card, Chime, PayPal, and Apple Pay.

Can You Pay Yourself on Venmo?

Yes, you can pay yourself on Venmo. The app lets you send money to yourself, hold funds in your Venmo account, and send money to friends if your identity is verified and you have a Venmo Card.

However, you cannot transfer funds between your two Venmo accounts since you can only transfer money between separate accounts. In addition, Venmo will ban an account immediately if they discover that an individual is trying to maintain multiple accounts.

Instead, you can Venmo yourself through a bank account or by credit card transfers.

Can I Venmo Myself From One Account to Another?

No, you cannot Venmo yourself from one account to another. It’s because Venmo does not allow users to have more than one Venmo account. 

It’s technically possible to create two separate accounts with different information, but you run the risk of getting banned. Venmo will ban both accounts whenever it finds that more than one account is linked to the same person, so proceed with caution.

We recommend that you ask your friends or loved ones to send you money through Venmo instead. Once the money is received, you can transfer it to your other bank account. 

You can check out Venmo’s User Agreement for more information. 

Can I Venmo Myself From a Credit Card?

Yes, you can Venmo yourself from a credit card. However, you must first be a Venmo cardholder to keep money in your account and use a credit card to Venmo yourself.

In addition, if you use a credit card to add funds to your Venmo account, a 3% fee will be applied. To get started with your Venmo transfer, you will have to link your credit card. 

Here are the easy steps to link your Venmo account to your credit card:

  • Have the Venmo App and Account Ready – The Venmo mobile app is available for iOS and Android devices and is easy to install.
  • Go to Settings – Once you select the “Menu” icon on the Venmo app homepage, you’ll find “Settings” with the gear icon.
  • Select Payments Method – The Payments method is located at the top of the “Settings” page. 
  • Tap Add Bank or Card – You’ll then be required to select your preferred card and fill out the necessary information to verify.

Can I Venmo Myself From a Visa Gift Card?

Yes, you can Venmo yourself from a Visa gift card. You may have a Visa gift card and would rather save it, so Venmo is an ideal place to store it. In addition, Visa gift cards can be converted to cash by adding them to your Venmo account.

Here’s a quick step-by-step guide to Venmo yourself from a Visa gift card:

  • Open the Venmo mobile app
  • Select “Payment Method” located in “Settings.”
  • Tap “Add bank or card.”
  • Enter your Visa gift card information and click “Add Card to Your Account.” Be sure to upload it before the debit card expires.

Once you’re done, you can transfer the gift card amount to your Venmo account. For inquiries, you can reach Venmo customer support at (855) 812-4430 or visit the Venmo online Help Center.

Can You Send Money from Venmo to Chime?

Yes, you can send money from Venmo to Chime by linking your Chime debit card to your online account. Chime is one of the leading digital banking apps in the United States, with over 13 million active users. So it’s no wonder that some Chime users link Venmo for easy money transfers.

There is also Chime Pay Friends, which is only available to Chime users whose recipients are also on the same platform. As a result, many prefer using third-party peer-to-peer services such as Venmo.

Here are the steps to connect your Chime account to your Venmo account:

  • Open the Venmo mobile app
  • Select “Payment Method” located in “Settings.”
  • Tap “Add bank or card” and choose “Debit or Credit Card.”
  • Type in your Chime debit card information and click “Add Card to Your Account

Linking to Chime is best done via debit card and not a bank transfer. It’s because debit card transfers are instant, while bank transfers can take up to five business days when transferring money from Chime. Also, linking a debit card is easier than finding the Chime bank name and address for direct deposit.

Once you’re connected to Chime, we recommend depositing $1 into your Venmo account using the “Pay or Request” option in the Chime app. Then, withdrawal $1 back to Chime using the “Manage Balance” option in the Venmo app.

Sending the money from Venmo to Chime and then back successfully will confirm they’re linked properly and ready to make larger money transfers. If the Venmo payment is not showing up, contact customer service on why you can’t link your card.

Check out our guide on does Chime accept third-party checks?

Can I Send Money From Venmo to PayPal?

Yes, you can send money from Venmo to PayPal differently than you would expect. Since PayPal owns Venmo, you’d expect seamless integration between the two digital wallet services, but it’s not been implemented as of this writing.

However, you can connect your Venmo to your PayPal account by linking a shared bank account.

Here’s how to link Venmo to PayPal:

  • Connect your PayPal and Venmo accounts to the same bank account.
  • Enter the dollar amount in Venmo and click on “Transfer to Bank.” 
  • Choose either Instant or Standard for one to three business day money transfers. 
  • Select “Transfer Money” from your PayPal account.
  • Select “Add Money,” and you will see the bank account associated with both your Venmo and PayPal accounts.
  • Tap on the linked bank account. Funds will be deposited into your PayPal wallet in three to five business days.

Can You Transfer Venmo to Apple Pay?

Yes, you can transfer Venmo to Apple Pay. While you can’t do this directly, you can link both accounts using a shared bank account. With almost 44 million users, Apple Pay is one of the most popular mobile payment apps, especially Apple users.

Users for both services can benefit by linking Venmo and Apple Pay.

How to Add Venmo to Apple Pay?

  • Add the same traditional bank account to your Apple Pay and Venmo accounts.
  • Test transfer money by depositing at least $1 from Venmo to your local bank account.
  • Transfer the exact amount back from the bank account to Apple Pay.
  • Once successfully transferred, you can proceed with higher direct deposit limits by withdrawing $10, $100, or more.

See our guide on Walmart to Walmart money transfer limits and fees.

Can I Send Money From Venmo to Zelle?

Yes, you can send money from Venmo to Zelle. Both payment services can be linked using a common bank account despite not being officially connected.

As a result, you can transfer money to anyone with an account at any US bank that supports Zelle transfers. If you wish to transfer money to friends who use Venmo, they must also have a bank account. It means that you can deposit money directly into the Venmo user’s bank account through Zelle.

Even if your bank does not support Zelle, you can still use it by connecting a Visa or MasterCard debit card; however, it doesn’t work like a regular credit card. The Zelle money transfer limit is $500 per week from a debit card. The debit card limit is a slight drawback since Zelle has higher money transfer limits between bank accounts.

See our guide on how Chime works with Zelle.

Can you Make a Venmo Without a Phone Number? 

No, you cannot make a Venmo without a phone number. You’re required to have a phone number and email address verified before you can start transferring money with your Venmo account. If your phone number is not verified, you won’t be able to transfer funds to your bank account or request payments from friends and family.

Venmo payments will not be deposited in your account until you verify them. Although it’s possible to use a fake phone number or a burner phone, we recommend connecting your phone number to your Venmo account. Linking your phone number to your Venmo account to make payments avoids any inconvenience.

Is the Venmo Identity Verification Safe?

Yes, Venmo appears to be increasing its verification efforts for new and current users. Venmo is a federally regulated money transfer service, and the USA PATRIOT Act requires the company to implement a Customer Identification Program. The program verifies users’ identities conducting transactions on the peer-to-peer payment platform.

The safe identity verification procedure provides additional safety and privacy protection for your Venmo account.

You can read the Venmo privacy policy here.

Can Venmo Work in Canada?  

No, Venmo cannot transfer money from the United States to Canada; it only works within the United States. Users will also have to verify their Venmo account using a US phone number because it won’t work for a Canadian phone number.

Can You Get a Venmo Card Under 18?

No, you cannot get a Venmo card if you’re under 18 because minors aren’t allowed to use Venmo.

There are ways to work around the underage policies and force the app to create an account for a minor. For example, you can use your SSN and birthdate as an adult, so they don’t get denied. However, there’s a greater risk for you since minors are more likely to be scammed, such as when a random person sends money.

Instead, we recommend using other mobile payment platforms that allow minors to use it with parental permission at stores that accept it. For example, you can load a Cash App card with parental oversight. It allows parents to load a preset amount of money so the minor can use a free ATM for the Cash App to withdraw money.

Can I Transfer Money to Myself Through Venmo Summary

You can Venmo transfer money to yourself as long as your identity is verified and you have a Venmo Card.

It’s important to remember that Venmo will ban an account immediately if they discover the same individual is trying to maintain multiple accounts. So instead, you can use Venmo to transfer money from your bank account or credit card.

In general, Venmo transfers money to third-party services, such as Chime, Zelle, and PayPal, that are linked to a shared bank account. They allow you to use your Venmo balance instead of a bank account.

Some people may prefer not using their bank because Venmo appears on your bank statements. It’s done for many reasons, such as buying a gift for your spouse that you don’t want to be seen on your bank statement.

However, it’s important to have your phone number and email address verified with a phone number from the US to process transfers conveniently.

See our guide on paying with Venmo at Target in-store and Venmo at Walmart online.  

Most Recent Posts

Our Favorites

Share:

Share on facebook
Facebook
Share on twitter
Twitter
Share on pinterest
Pinterest
Share on linkedin
LinkedIn
On Key

Related Posts