You can use Venmo on eBay for online purchases and also borrow money from Venmo but the perks of the app do not end here. Now you can not only buy visa gift card with Venmo but also add it to the app to make purchases in-store and online. I will show you how to get this done so keep reading!
Can You Buy Visa Gift Card With Venmo?
You can definitely buy Visa gift cards with Venmo but you need to confirm beforehand which retailer allows this purchase. For example, eGifter is a great online platform that hosts a number of gift cards, prepaid cards, etc. that you can purchase with Venmo.
How Can I Add Visa Gift Card to Venmo?
- Open your Venmo account and click on the three horizontal lines on the main screen.
- Then click on Settings and select Preferences.
- Choose Payment Methods under Preferences list.
- In the next tab, locate Add a Bank or Card and click on it.
- Then select Card and provide the card’s information.
- Enter your address and the Zip code.
- Tap on Add Card to complete the process.
The funds on the linked card can then be used as Venmo balance from various transfers and payments as per your need.
So, in case your Venmo lost connection with bank, you can use it as a secondary source to pay at both, online store and physical stores. Simply scan the Venmo QR code at the checkout point.
Can You Transfer Money From Venmo To Visa Gift Card?
As I have mentioned before, you can use Venmo to buy Visa gift card. When you purchase the card through Venmo app, the balance would be automatically added to the gift card.
Visa gift cards are available at a number of online retailers and you should not have any issues completing the purchase with Venmo.
In fact, majority of the buyers interest in Visa card tend to purchase it through this method as buying it with credit card runs the risk of exhausting credit line. Moreover, you will have to pay interest charges if you are not able to pay back the money to the bank on time.
Therefore, buying Visa gift card with Venmo and then adding the add to the app for money transfer is quite a reliable approach.
However, do keep in mind that prepaid cards, gift cards, or debit cards can often be turned down by issuers if they sense any fraud or lack of funds.
Can You Transfer Gift Card Balance To Other Via Venmo?
Well, isn’t the answer obvious by now?
Once you have purchased the card and added it to your Venmo account, there’s nothing stopping you from paying others using this balance.
The only thing you need to keep under check is that the balance you are transferring does not exceed gift card amount and Venmo spending limit.
Venmo simply acts as a bridge to send funds quickly to the account of your choice. Whether you have linked a bank account or a card, you can choose the transfer the balance from that source to any other acceptable platform via Venmo and without additional charges.
Venmo instant transfers, nonetheless, always incur 1.5% fee at the time of the transaction. The larger the amount that you send, the more would be the charges.
Before You Go!
Now you know that it is possible to buy and use Visa gift cards with Venmo. This covers all the network branded cards including Visa, Mastercard, American Express and Discovery as well. In fact, all these cards would work much like using any other prepaid or debit card with the app.
Even if you already have a linked bank account, it would be a good practice to connect an alternative card to the Venmo app in case the bank server is down and you need to transfer the funds via Venmo immediately.
Miriam Caldwell is a dedicated & expert freelance writer to educate people about personal finance management and budgeting. She shared her knowledge and published the articles at TheBalance.com, GOBankingRates, and BlissfullyDomestic.com. Many financial institutes pick Caldwell as the brilliant source for educational personal finance content.