Venmo is one of the most popular online payment services, founded in 2009. Diverse transaction options that make it easy to send and receive money from friends and family are a hallmark of this brand. But have you ever wondered how to add a gift card to Venmo? Adding credit cards is a walk in the park, but gift cards might be a bit of an issue – that’s why I’ve explained the entire process in this text.
To add a gift card to your Venmo account, open your app and go to Settings, then choose Preferences. Click on Payment Methods, and then choose Add Bank or Card. Now, all you need to do is press Card and enter the details of your gift card. Once you’re done, click Add, and the gift card will be added to your Venmo account.
The process takes only a few moments, and I’ve gone through everything in detail in the text below. Here you will also find some useful information about using gift cards on Venmo.
How to Add a Gift Card to Venmo – Here’s a Step-By-Step Explanation
You have received a nice little gift card from a beloved family member or a friend, and you want to add it to your Venmo balance – but how? Sure, credit cards are no big deal – but gift cards can cause confusion because there are so many of them available. They can be from different brands, reloadable or non-reloadable, and one might (rightfully) get lost in all that. With this quick explanation, you won’t have any trouble with your gift cards in the future.
First and Foremost, You Need to Have Your Venmo Account
Obviously, we can’t talk about anything unless there is a set account in your name. If you haven’t made it yet, don’t worry – it’s easy. Get the Venmo app on your phone or head to Venmo on your desktop browser. The account requires entering your personal information and choosing a password. Then, you will be sent a verification code to your phone number or email – enter it, and your account is now all set.
Adding a Gift Card Takes Only a Few Clicks
Let’s take a look at the steps for adding a gift card. Once you’re done, you will be able to use the money from the gift card as your Venmo balance – paying online or even in person is extra convenient with Venmo. You can even pay touch-free in stores with your QR code.
So, here’s how to make this happen – if you’re using your desktop, the steps are simple. You will first need to sign in to access your account. Then you should look for Edit Payment Methods in the menu and click Add Debit or Credit Card. Now, enter the gift card’s details and click add – that’s it. The steps are a bit different on the mobile app:
- Step 1 – Open your app and click on the menu in the bottom left corner.
- Step 2 – Press Settings, look for Preferences, then click Payment Methods.
- Step 3 – Click on Add Bank or Card, and choose Card.
- Step 4 – Enter card details or scan the card with your camera.
- Step 5 – Click Add, and your gift card money will be added to your Venmo balance.
Which Gift Cards Can Be Added to Venmo?
When it comes to gift cards, the possibilities are endless, but be warned – Venmo won’t accept every one of them. The brands of gift cards that will be accepted are Visa, Discover, MasterCard, and American Express. Also, keep in mind that there are some gift cards that are designed specifically to be used at certain merchants and can’t be used on Venmo.
Reasons Why the Card Might Not Work on Venmo Even After You’ve Successfully Added It
Let’s say you have a Visa gift card and you’ve successfully added it, but you can’t use that money for any Venmo transactions – what could be the reason? First, the issue with payment could be a lack of funds on the prepaid card. Also, Venmo can sometimes flag gift cards for fraud prevention, so you’ll need to contact them to resolve the issue.
Pros and Cons of Adding a Gift Card to Venmo
While there are many benefits to using your gift card this way, could there be something you’re missing? Are there no downsides to using gift cards on Venmo? To make it all simple, I’ve written down all the pros and cons for you to decide – everything is in the table below.
|This is a safer way to pay online transactions than using a credit card||This payment method isn’t recommended for large transactions, just small purchases|
|You can use the money from the gift card virtually anywhere – there are no restrictions||Some gift cards come with high fees that will make Venmo transactions not worth it|
|Your friends and family can refill your gift card at any time||Sending money to the gift card from someone’s Venmo can take a few days|
Does It Work the Other Way Around – Can You Return the Money From Venmo to Your Gift Card?
Good news – if you need your money back on the gift card, you can send it back with no problems. While using Venmo gives you more flexibility, it’s good to know that you can get the money back to the card in case you need it. However, keep in mind that these transactions can take up to a few days.
Venmo Can Be Quite Helpful When It Comes to Managing Your Money – Why Not Use All of the Benefits That It Offers?
As you have probably realized already, Venmo offers you plenty of benefits and makes managing your finances easier. It offers a simple way to send money to your close friends or family members, and now you know that you can add gift cards to your Venmo balance – so why not use the opportunity?