Transfer money from Venmo to Cash app: As we are well into the age of technology and digitalisation, our way of performing a certain actions is evolving. Earlier we were comfortable using fiat currency, however, things have changed. As of today, we prefer to use digital currency. This trend has increased rapidly after the unprecedented Covid-19 pandemic.
Instead of going to market physically, we tend to shop on digital platforms and avail ourselves of the home delivery feature. At this juncture, digital wallets or payment apps come into service. As we are still adapting to the changes, some of us are really in need of technical support on how to administer such digital wallets. One such app is Venmo. This article intends to answer some queries related to the said app for money transfer on Venmo in the following segments. First of all, let’s discuss the payment app we are going to focus i.e. Venmo.
Venmo is an American payment company that started its journey in 2009. Numerous financial functions can be executed on this platform. You can pay and accept payments, start a business with Venmo, avail of a Venmo credit card and debit card, and pay in stores with Venmo. Moreover, you can trade cryptocurrencies on this platform and pay in digital stores online. Some additional features include blocking and unblocking someone on Venmo, purchase protection, direct deposits, etc. As a payment app whether any inter-app transactions can be performed on Venmo remains an agenda of discussion. In layman’s terms, the question is, can you send money from Venmo to cash app?
To explore this topic go through the article till the end. In this article, we will answer the question and also demonstrate how to transfer money from Venmo to Cash app.
How to transfer money from Venmo to Cash App
Venmo is designed to operate peer-to-peer transactions, and so is the cash app. It is a general business move that directly you can not execute the said function as Venmo and Cash app as they serve the same purpose. You can not transfer money, obviously so, from your Venmo account to someone else’s cash app. However, you can technically transfer money from your Venmo account to your cash app account. None of their terms and conditions prohibits you to transfer money. But you have to set up a portal called direct deposit to start with. Here is the know-how.
How to set up Direct Deposit on Cash App
- Firstly, open the cash app and log in to your account. You will see a $ sign on the interface. Tap it to go open the ‘My cash’ tab.
- Having done so, tap on the cash icon and look for the direct deposit option to tap on.
- Now, tap on the ‘get account number’ option and a pop-up message will ask you to confirm. Do in accordance to enable the account number.
- Finally, after the establishment of your account number, you will see an icon to copy the details of the account number. Copy the details for further use and now you are ready to move to the next step.
Add Cash app credentials to Venmo
This is the next step where you will have to provide the details you copied in the last step to your Venmo account. This is how you carry it out.
- First of all, Open the Venmo app and log in to your account.
- Go to the settings by tapping the three horizontal lines on the interface.
- Under the settings tab, you will see the ‘payments’ option. Tap on it.
- Here you can add bank details or card details. tap on add bank and wait for the completion of verification, then paste the credentials you copied from your Cash App account.
From now on, Venmo will be treating your cash app account as a bank account and you can transfer money from Venmo to Cash App.
This is a process to perform the said action. However, this is not the process i.e. other ways are also there, and we are here to assist you technically for your convenience. Go through the next segment for an alternative answer to the question of how to transfer money from Venmo to cash app.
Link a mutual bank account on both Venmo and Cash app
This is the most efficient and witty way to transfer money from Venmo to Cash app. we shall try to elaborate the process in the simplest possible terms. Keep reading to get a hold of it.
In a nutshell, the action is completed in two steps. Firstly, sending the money from Venmo to the mutual account and secondly, adding the money from the mutual account to the Cash app. The mutual account is nothing but an account that is linked to both Venmo and Cash app.
How to transfer your money from Venmo to the mutual account
- Firstly, add the account on Venmo you want as the mutual account. Complete the verification procedure.
- Now, you have to transfer money from Venmo to this account.
- To do so, open the tab under the ‘three lines’ icon and head to the ‘transfer to the bank’ option.
- Fill up the necessary details, for instance, amount, card or bank, instantly or within 1-3 business days, etc.
- Finally, click on the transfer.
How to add the transferred money from the mutual account to the cash app
This is the step where you add the money to the cash app. Here is how you do it.
- Open your account on the cash app and head to the ‘balance’ tab.
- Under this tab, look for the ‘add cash’ icon and tap it. Fill in the amount and tap on ‘Add’.
- Complete verification by providing your ID or fingerprint as needed. Voila! you are done.
Also Read: 13 Best Cash Advance Apps Like Earnin
Frequently Asked Questions:
1. How long does it take to transfer money from Venmo to a bank account?
Transferring money from your Venmo account to your bank account typically takes 1-3 business days. However, Venmo also offers an instant transfer feature for a 1% fee, which transfers your funds within 30 minutes.
2. Can I transfer money from Venmo to someone else’s Cash App?
Yes, but the process still involves the intermediate step of transferring money to a bank account. You can transfer the funds from your Venmo to your bank account, and then use that bank account to add money to someone else’s Cash App.
3. Are there fees associated with transferring money from Venmo to Cash App?
While transferring money from Venmo to your bank account is typically free (unless you opt for the instant transfer), there might be fees associated with adding money to your Cash App from a debit card. It’s important to review the fee structures of both apps to understand potential charges.
Drawing the curtain
In this article, we have elaborated two ways on how to transfer money from Venmo to Cash app. We hope the demonstration will be easy to understand for tech-phobic people also. You can get in touch with up for any further queries. We will eternally be at your convenience. Let us know any feedback from your end. And most importantly, happy reading!