Most young adults use mobile payment services like Chime and Venmo. These two are excellent online payment apps that allow their users to enjoy numerous great advantages. But does Chime work with Venmo?
Yea, Chime works with Venmo. It is simple to link these two accounts and process receiving and sending money, making purchases, and even popular crypto investing. However, there are some minimal fees you’ll have to take care of if you want to use Chime with your Venmo account.
Learn all there is about Chime and Venmo and how these two online payments work and can make your life a lot easier when it comes to finances and banking processes.
Table of Contents
Does Chime Work With Venmo?
Since Chime and Venmo perform similar functions, users of both can exchange money with one another. This means that you may now make immediate purchases using Venmo and Chime cards. Adding your Chime bank account or a debit card to Venmo will allow you to complete the transaction.
Is It Safe to Use Venmo With Chime?
Although Chime is not a national bank, it’s one of the most reliable paying apps in the US. But, since these are online services, some people prefer paying without Venmo. On the other hand, considering what stores accept Venmo and Chime and realizing how effortless banking can really be, the majority decides to enjoy all the perks these technologies have to offer.
With this being said, yes, using these two apps and accounts won’t give you any headaches since they work quite smoothly together. Although we’re talking about online payment platforms, linking Venmo to a Chime account is more than safe.
How Can You Add a Chime Account to Venmo?
Once you figure out how beneficial the Chime credit card and the Venmo app are (you can even borrow money), you should proceed with adding a Chime account to Venmo. So, firstly, you need access to Venmo, Chime account details, and a strong internet connection.
Launch your Venmo app and select the Person icon. Choose Settings and select Payment method. Proceed with clicking on Add bank or Card, and insert the Chime details to complete the process.
You Can Link Your Credit Card, Debit Card, and Bank Account Directly to Venmo
You can link credit and debit cards and bank accounts directly to your Venmo account with some differences, though. So, in case you’re planning to make some purchases in the app or receive payments, it’s best to link directly to the bank account.
If, on the other hand, you want to send money, consider adding a credit or debit card. Notice you’ll be charged a 3% fee for all transactions made with a credit card. On the other hand, if a debit card or a bank account is linked directly, you won’t be dealing with fees.
Will You Have to Pay a Certain Fee When Adding Chime on Venmo?
As you probably already know, using these kinds of services will incur certain fees. The good news is that there will be no fee to open your account. Also, there aren’t monthly fees you need to think about. But, yes, you will have to pay a fee while using your Chime with Venmo account. Here are those fees:
- A 1.5% fee has to be paid when withdrawing funds from Venmo to a Chime account and requesting an instant transfer.
- A 3% fee has to be paid when using a credit card with a Venmo account when a user wants to make a purchase or simply send money to someone.
- A 1% fee has to be paid with a minimum of $5 when depositing a government check or a payroll check into the Venmo account.
Are There Fees When You Use Venmo With Chime?
One of the first things you surely want to know when using Venmo is whether there will be some taxes you need to pay, right? The same goes with using Chime, too. In the case when a user is working with Venmo, there will, indeed, be the same fees to pay as for using Chime on Venmo.
How to Transfer Money From Chime to Venmo?
Once the Chime account is linked to your Venmo, all that is left is the process of transferring the funds you need in Venmo. So, in order to request a money transfer as a Venmo user, the first thing to do is log into your Venmo app. Then proceed with clicking the option “Pay or Request” at the bottom of the app screen. After that, choose the account from which you’ll request the funds.
Process of Transferring Money From Venmo to Chime Account
Luckily, setting the Venmo handle is fairly easy, as the app is user-friendly. This means transferring money from this app to Chime will be swift as well. Just go to a hamburger menu in the right-up corner and select the Transfer money option. Decide what amount of money you want to transfer and whether it has to be an instant option (pre definite option is one to three business days).
Is Venmo Instant Transfer Working With Chime?
Good news! Venmo instant transfer works perfectly with active Chime accounts. But, even though there won’t be any issues using this service, keep in mind there will be a limit for instant transfers – it’s $15, and there will be a 1.5% transfer fee you’ll have to pay. If you want to avoid paying this fee, you can choose the transfer money option, which will take one to three days.
Will Chime Cards Work Properly With Venmo?
Of course, your Chime card will work just fine with Venmo if you’ve done all the necessary steps in order to link two accounts. Otherwise, you might find yourself in a situation where you wonder why you can’t open a Chime account.
In order to avoid that, all you need to do is select the Settings option from a hamburger menu icon on the app, then select the Payment Methods option and add a card or bank. Insert all the Chime Card information and finish the whole process by clicking the option Add.
Enjoy the Straightforward Process When Linking Chime to Venmo
Whether you want to invest in crypto, receive or send money, or buy services or goods, you can do it quite easily by connecting a Chime account to Venmo. In fact, you can do it through the Venmo app or a computer. However, the fees you’ll be charged will depend on the way you’ll use Venmo – with a credit card, a debit (or your Chime) card, or if you’ll be using it directly through a Chime account.
