There are several methods that allows you to transfer money from Venmo to Cash App and both apps are 2 financial apps that allow you to be able to send and receive money online. You can now find various digital wallets available for use in the market and Venmo is one of them.
With Venmo, the sender and the recipient must both be residents of the United States of America. Actually, Venmo does not allows international transfers. Venmo allows you to link your bank account or bank card thereby making easy for you to transfer money to Cash App by adding your Cash App card to your Venmo account.
In order to transfer money from Venmo to Cash App, you will first of all have to link your cash app card to your Venmo account and from there now, you will be able to request a transfer of funds from your Venmo account to your Cash App Card.
Another possibility for you to be able to transfer Money from Venmo to Cash App is by making use of a linked bank account which is similar to several other money transfers procedures that makes use of a bank account as mediator. Since this method involves using your bank account, it makes it reliable and can be use to complete the transfer without any problem.
So that was just a brief introduction to this article, now stay glued as I am about to show you how to transfer money from Venmo to Cash App with some simple and easy methods that will save you time.
Table of Contents
What is Cash App And How Does It Work?
Cash App in simple terms can be said to be a peer-to-peer payment app that allows users to transfer, receive and invest money quickly. Block, Inc. formerly known as Square, Inc launched the app in the year 2013 to compete with other mobile payments apps such as Venmo and PayPal.
Even though Cash App allows you to keep your money safe while also making some transactions with other financial institutions, it is not a bank. The Federal Deposit Insurance Corporation -FDIC insures your account balance via partner banks.
With Cash App, Users are able to get a debit card, and set up direct deposit using the Cash App. Also as a Cash App user, you are able to invest as little as $1 in equities using the investing tool and this is accomplished by purchasing fractional shares of stock. Cash App users are also able to buy, sell and transfer bitcoin easily.
The Cash App mobile app must first be downloaded. It is accessible for iOS (4.7 stars out of 5) and Android (4.6 stars out of 5). Online registration for a validated Cash App account is also possible. Among other things, the app has areas for banking, debit cards, payments, investments, and Bitcoin.
Who Can Use Cash App?
Individuals aged 13 and above can use the Cash App. Expanded Cash App capabilities including P2P transactions, direct deposit, and a Cash Card require parental or guardian approval for users aged 13 to 18.
Other features, such as investment and Bitcoin, are restricted to Cash App users above the age of 18.
ALSO READ: Can I Use Cash App Without A Bank Account? (Yes, Find Out How)
Does Cash App Offer a Debit Card?
Once you are a already a user of Cash App, you can get a Cash Card which is a debit card linked to Cash App account. Similar to a debit card, you can make use of this cash card to make transactions both online and in person.
Cash Cards can also be used as at ATMs even some charges may apply depending on the transaction that you are about to carryout. On Cash App, each ATM transaction charges you $2 but a supplementary fee for the use of ATM may be charged by the ATM owner.
Cash App reimburses ATM fees, including third-party ATM fees, for up to three ATM withdrawals each 31-day period (up to $7 in fees per withdrawal) for users who receive direct deposits of at least $300 per month.
What is Venmo And How Does It Work?
Similar to Cash App, Venmo is also a peer-to-peer (P2P) payment app for both iPhones and Android devices that allows customers to send and receive money easily and rapidly.
In the year 2009, Venmo was launched as text-message-based payment delivery system and the company then decided to launched a platform with an integrated social network in March 2012 in an attempt to profit on the booming peer-to-peer economy.
Less than six months later, Venmo was acquired by Braintree, the mobile payment platform utilized by Airbnb, Uber, and other e-commerce giants, for $26.2 million. 12 Less than a year later, when eBay paid $800 million for Braintree and combined it with its PayPal business, Venmo saw a large surge of users.
As soon as you have downloaded the Venmo app and linked your Venmo account to your debit cards, credit cards or bank accounts, you can easily begin transferring money between one another. Venmo actually acts as a virtual fiscal mediator.
In simple terms, Venmo can be referred to as a middleman between two users during a payment transaction. In the Venmo platform, a Venmo balance is effectively a virtual ledger that symbolizes funds moving from hands and the money is not yet officially in the user's hands until Venmo tramsfers it to the recipient's bank account.
Can You Transfer Money from Venmo to Cash App?
Yes you are able to transfer money from Venmo to Cash App in 3 different ways that you will subsequently see below.
You can make use of a linked bank account as a mediator to transfer money from Venmo to Cash App.
Also you can still decide to add your Venmo Card to your Cash App and use the funds directly on your Venmo card in Cash App. This method allows you to transfer money from Venmo to Cash App.
You can add your Cash App Card to your Venmo account and withdraw money from Venmo to your Cash App card. The funds will be made available for use with Cash App.
How to Transfer Money from Venmo to Cash App
Transferring Money from Venmo to Cash App can be quite challenging especially when you are still getting to know these apps. Below, I will show you 3 ways to make a successful transfer.
Method 1: How to Transfer Money from Venmo to Cash App Using Venmo Card
Since Cash App allows you to add a bank account or debit card to your account, you can add the Venmo card to fund your Cash App account.
Follow the steps below in order to transfer money from Venmo to Cash App using your Venmo Card:
- Log into your Cash App and navigate to Cash App Balance.
- Find and choose the option "Add Debit Card".
- Enter your Venmo Debit Card details to your Cash App and choose the "Add Card" option.
- Select "Add Cash Button" and enter the amount of money to add to your Cash App from your Venmo account. Select Venmo Debit Card as the method to add funds and tap "Add Cash".
- As soon as the process is complete, the money will be added to your Cash App from the Venmo Account.
Method 2: How to Transfer Money from Venmo to Cash App Using Cash App Card
Similar to Cash App, Venmo also allows you to link a bank account or debit card to your Venmo account. Th Cash App Card which is also known as Cash Card is actually a debit card and it can be linked to your Venmo account and once it is already linked, you can now withdraw funds directly from your Venmo account onto your Cash App Card.
You can follow the steps below to link a Cash Card to your Venmo account:
- Move to the "You" tab by tapping the profile icon.
- Press the Settings gear in the top right then Press "Payment Methods".
- Tap "Add bank or card..." and then tap "Card".
- Add your Cash App card information.
Immediately you have linked your Cash App card to Venmo, you can follow the steps below to transfer money from Venmo to Cash App.
- Open Venmo app and tap the three horizontal lines (≡) on the top left corner.
- Select "Manage Balance".
- Select "Transfer to Bank".
- Enter the Amount of Money to transfer to your Cash App account.
- Select "Instant Transfer" (which will be done at a 1.5% fee with a minimum fee of $0.25 and a maximum fee of $15 of the total amount to be transferred).
- After that, select "Transfer to" and select your Cash App card from the list of cards displayed.
- Finally, tap "Transfer" to transfer the money from your Venmo account to Cash App.
Method 3: How to Transfer Money from Venmo to Cash App Using a Linked Bank Account
Using a linked bank account is another option to send money from Venmo to Cash App. Both your Cash App and Venmo accounts must be connected to the bank account.
To add money to your Cash App from your bank account, you must first pay money from Venmo to your bank account. The same way you may move money from one debit card to another, you can also move funds from your bank account debit card to your Cash App debit card.
Follow the steps below to transfer money from Venmo to Cash App using a linked bank account.
1. Add Your Bank Account to Venmo
In order to transfer money from Venmo to your bank account, you will need account and routing number to help you link your Venmo account.
Follow the steps below to add a bank account to Venmo.
- Go to the "You" tab by tapping the profile icon.
- Tap the Settings gear in the top right then tap "Payment Methods".
- Tap "Add bank or card..." and then tap "Card".
- Add your Cash App card information.
2. Transfer Money from Venmo to Bank Account
- Open your Venmo app and tap the three horizontal lines at the top left corner.
- Select "Transfer To Bank" on the next page.
- Next, enter the amount that you wish to send. After that, specify whether you want the transaction to occur instantly or you would allow 1 to 3 business days for it. Instant transaction ensures that the money arrives your bank account within 30 minutes. However, it does incur extra charges (will be done at a 1.5% fee with a minimum fee of $0.25 and a maximum fee of $15 of the total amount to be transferred).
- Select the bank your wish to transfer funds to.
- Finally, tap "Transfer" to initiate the transfer process.
3. Add Your Bank Account to Cash App
You will be needing your account and routing number in order to link it to your Cash App account.
You can follow the steps below to add a bank account to Cash App.
- Open Cash App.
- Tap the Profile Icon on your Cash App home screen.
- Select "Linked Banks".
- Tap "Link Bank".
- Follow the prompts to link your bank.
4. Transfer Money from Bank Account to Cash App
Now, you will have to transfer money from your bank account to Cash App.
Here is how it is done:
- Tap the Balance tab on your Cash App home screen.
- Tap "Cash Out".
- Choose an amount and press "Cash Out".
- Select a deposit speed.
- Confirm with your PIN or Touch ID.
It is necessary to have in mind that this method can take long to be complete (depending on the bank processing time) but is however, reliable to use to transfer money from Venmo to Cash App.
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How Much Money Can You Send From Venmo to Cash App?
Whether or not you've confirmed your account information in the app affects how much money you can send from Venmo to another account. Here are some essential guidelines that can help you understand anything you may be unsure of.
- Without verification you can send $299.99 per week from Venmo account.
- Without verification you can sent $999.9 per week from Venmo to other bank account
- After verification you can send $2999.99 per week from Venmo account.
- After verification you can send $ 19999 per week from Venmo account to other bank account.
Simply put, the verification will help you by enabling you to send larger amounts of money over several transactions. By entering your full name, contact address, contact number, Zip code, birthdate, and social security number, you can use the Venmo app to have your identification verified.
Why can’t I send money directly from Venmo to Cash App?
Venmo and Cash App are literally meant for the same purpose which means they are both widely used for peer-to-peer money transfer. Since the two companies can be taken as competitors, they don’t offer support direct exchange of money between them.
Final Thoughts: How to Transfer Money from Venmo to Cash App
So this is everything you need to know about how to transfer money from Venmo to Cash App. Hopefully, this article would help you to carry out the task without any issues.
Amazing apps for peer-to-peer transactions are Cash App and Venmo. By combining them, you can gain a lot. When will you initiate your first Venmo to Cash App transfer? Don't forget to tell us about your experience in the section below.
Frequently Asked Questions
Does it cost extra charges to use Cash Card?
The card charges a transfer fee for each transaction completed. It is fixed at 1% of the exchanged value. The minimum fee is $0.25, while the highest amount is $10. Here, you can find several licensed retailers with whom you can make purchases without paying any additional fees. You must pay a regular 3 percent fee if you purchase from a merchant other than these.
Can I cash out money from my Venmo account?
Yes. It is possible to withdraw money from your Venmo account via ATM that has acceptance marks of Mastercard, PULSE, or Cirrus. However, you have to pay $2.50 as cash withdrawal fee.
Can you transfer money from Venmo to Cash App?
Yes, you can send money from Venmo to the cash app indirectly but there is no direct “Send to Cash App” button transfer button.