Venmo Debit Card Review

Who is the Venmo Debit Card best for?

If Venmo is your preferred peer-to-peer (P2P) money app, the Venmo debit card can make a lot of sense. With no monthly fees or balance requirements, it’s an easy, no-cost addition to your wallet. It also earns cashback rewards, a feature not commonly found with most debit cards.

What we like about the Venmo Debit Card

It’s hard to dislike a free debit card. With no monthly fees, opening deposit requirements or balance requirements, it’s a simple, no-frills card. It offers early direct deposit up to two days early, cashback rewards and easy reloading options.

Cashback rewards

The Venmo debit card offers up to 5% cash back on various purchases. The cashback rewards are powered by Dosh, a card-linked offer platform popular with fintechs.

Through Dosh, you can get cash back on various categories like groceries, health and beauty, ridesharing, restaurants and entertainment. The deals are ever-changing, and you use the Venmo app to view and activate them.

Custom card options

Immediately after you sign up for the Venmo card, you can add it to your digital wallet before you receive the physical card in the mail.

Speaking of the physical card, you have several customization options. You can choose from a variety of bright and vibrant colors, including neon green, pink, pink and blue, black, and a spacy blue and purple design. The physical card delivery can take up to 10 business days.

Split bill feature

Venmo is already great for sending instant P2P transfers to friends and family, but it also has a feature that lets you split Venmo debit card transactions.

When you purchase something with the card, the app asks if you want to split or share your purchase. You can customize the amount to split with one or more users and can exclude yourself from the split calculation. When you submit a split request, the other users are notified and must accept the request for the split to go through.

Multiple funding options

Venmo offers multiple reload options, including cash deposits at Walmart and select ATMs.

• Link external account. If you’re a regular Venmo user, you likely already load the Venmo debit card by linking an existing bank account and adding money to your Venmo Balance. You can fund your Venmo balance directly using an external debit card or bank account via ACH transfer. Debit card transfers go through instantly, while ACH transfers may take three to five days to clear.
• Direct deposit. Set up direct deposit through your payroll or employer. Plus, Venmo offers early direct deposit, which means you may receive your funds up to two days early.
• Mobile check deposit. Called Cash a Check by Venmo, you can reload your Venmo balance via mobile check deposit. Transfer speeds can be within minutes if you choose the instant option, but it costs 1% to 5% with a $5 minimum. Or you can pay no fees to receive the funds within 10 days. The Cash a Check feature is not available in New York.
• Automatic reloads. If you have reloads enabled and attempt a purchase that exceeds your balance, Venmo automatically withdraws funds from your selected bank account in increments of $10 to cover the difference.
• Add cash at a store. Venmo accepts cash deposits at select ATMs and Walmart locations. Depositing cash at a store costs $3.74.

Venmo for teens

Venmo also offers a Teen Account, designed for ages 13 to 17. Parents or guardians can set up this account for their kiddo and add money to the account via bank transfers or their own Venmo account.

Just like the regular Venmo app and debit card, the teen account has no monthly fees or deposit requirements, making it a much more affordable option compared to other top kid cards.

Where it falls short

While Venmo’s debit card is pretty solid, it isn’t a perfect replacement for your everyday checking account. Depositing cash isn’t an option, and we wouldn’t recommend keeping a large balance since Venmo isn’t a bank and your funds aren’t insured by the FDIC — unless you use specific deposit methods.

Venmo partners with some banks, and if you deposit money into your Venmo personal account using direct deposit or mobile check deposit, Venmo places those funds in one or more program banks that place funds under FDIC insurance.

While it’s not a huge drawback, you can’t use Venmo’s debit card outside the US. If that’s a deal-breaker, consider these international debit cards instead.

Venmo Debit Card’s fees and access

Customer reviews

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