How to Overdraft Venmo Card? Can you Overdraft Venmo Card?

There could be a situation when you may have to pay money for anything and you don,t have sufficient balance in your Venmo account. Then how to overdraft a Venmo card? Or Can you overdraft a Venmo card? Here we will try to find the answer to your questions about over-rafting Venmo cards.

Do you know exactly what is overdraft? Actually, when you spent or withdraw more money from your Venmo account or card then your Venmo account will be in deficit.

If it is possible to overdraft a Venmo account then what is the process to do so? In the following article or guide, we will cover all the important and necessary things about over-drafting an account of Venmo.

Can I Overdraft A Venmo Card?

Unfortunately, the Venmo card does not allow overdrafts. But you will find a reload feature on Venmo. By using the reload feature you can add money from your bank account to the Venmo account directly.

Venmo will also charge 10 dollars fees automatically to transfer money from your bank account to your Venmo account.

You need to remember one important thing if you don,t have enough money in your bank account to cover the reload of your Venmo account then it may overdraft your bank account.

However, it also requires your bank to have an overdraft feature. If you don,t want to overdraft your bank account then you need to make sure there are enough funds available in your bank account. You may get a little bit confused if you are using Venmo for the first time.

Venmo-Card-Overdraft - CashToApp

When you Deduct the Required Amount

As an example, you have zero balance in your Venmo account and then you decide to buy anything online that costs around $300, and reload option of your Venmo account is also activated.

Venmo will add $300 from the connected bank account automatically. Once the purchase gets completed it will overdraft your bank account and you will see a debit of $300 on your bank account.

When you Deduct More Than the Required Amount

Suppose you have $60 in your Venmo account and want to buy something which cost around $70 by using the Venmo card.

In such a case, Venmo will load or deduct $10 from your connected or linked bank account to complete the purchase. Once the reload is completed you will get a $10 debit on your bank account statement.

Can we overdraft A Venmo card at an ATM?

It is not possible to overdraft your Venmo debit card at an ATM. But it gives you a feature of reloading which withdraw the amount from your linked bank account and adds it to the Venmo account automatically.

Not just that in case you also don,t have sufficient funds available in your bank account it will overdraft your linked bank account.

You can directly withdraw money from your account by using a Venmo debit card at an ATM. You can,t withdraw money if you don,t have enough money left in your Venmo account even if you have turned on the reload feature.

You must note that the daily withdrawal limit of a Venmo debit card is around $400 but it requires you to have the money in your Venmo account. So, we have come to know that the cash withdrawal limit of the Venmo card is $400 and there is a $2.50 fee on each ATM withdrawal.

Overdraft-Venmo-Card-at-ATM - CashToApp

Does ATM Withdrawals Trigger the Venmo Reload Feature?

The ATM withdrawals will not trigger the reload feature. Each time you perform a cash withdrawal through your Venmo card it will be only charged from your Venmo balance. It does not matter whether you have enabled the reload feature or not. A Venmo debit card allows you to withdraw $400 on daily basis as a withdrawal limit.

Related: Can I add Cash App card to Venmo

How to Turn On Venmo Reload?

Follow the steps below if you want to turn on or off the reloads:

  1. Login to your Venmo account by using the credentials.
  2. Now tap on three line menu located in the top right corner.
  3. Then choose settings from the menu.
  4. After this, you have to tap on the Debit card option.
  5. Now you can select the option to turn on or off the reloads of your Venmo card.

How to Get a Venmo Debit Card? Or How to Apply for a Venmo Card?

The process to get a Venmo card is quite similar to getting a standard debit card from your bank. But you may don,t know about this if you are using Venmo for the first time.

Follow the steps mentioned below if you want to get a Venmo debit card:

  1. First, you need to find the Venmo app on your mobile device.
  2. Then tap on the menu option from the top left screen.
  3. After this, you need to open the menu and then choose the ‘Venmo card’ option.
  4. Now it will show you different advantages of getting a Venmo card.
  5. Then just tap on the button of getting a Venmo card.
  6. Then you need to choose the color of your card which could be either black, white, or blue.
  7. Tap on the ‘Next’ option from the top right corner of the screen.
  8. Enter your first and last name and click on the ‘Next’ option.
  9. Put the last four digits of your SSN (social security number) and date of birth.
  10. Now it will display terms and conditions. Just read them and tap on the next option.
  11. After this, you have to provide the shipping address of your Venmo debit card.
  12. It will ask you to review your information and tap on submit option.
  13. Now you have to confirm your identity.

Once you have completed the above steps successfully it is expected to receive your Venmo card in the next 1 to 5 business days. You may also get an email. Venmo card is offered by Bancorp and works with the MasterCard network.

You will get various advantages while using a Venmo card like it provides an instant transfer service to add money to your card in just 30 minutes. Except that it allows you to make a purchase in an easy way.

Furthermore, you can use the Venmo app if you want to keep a track record of the payments. If you want to disable your Venmo card temporarily it is also possible through the Venmo app.

How-to-get-Venmo-debit-card - CashToApp

Related: Cash App vs Venmo

Does Venmo work with insufficient funds?

Yes, Venmo can work if you have insufficient money in your Venmo account. When you use the Venmo card without having sufficient funds it will overdraft your Venmo card. Once you transfer the funds that cover your Venmo account debit it will start working normally.

Can we go negative on Venmo?

Yes, you can go negative on your Venmo account. If you don,t have enough money in your Venmo account and want to spend more than you have in your account then it will go negative. When you go negative on Venmo your account may get frozen. This means you can,t use your Venmo account anymore until you repay the debt.

Also Read: How To use Venmo on Etsy

Can you overdraft a Venmo card for gas?

Yes, you can overdraft your Venmo card for gas. But it is always recommended to use the Venmo card for gas or any purpose when you have enough balance in your Venmo account. The reason is that sometimes it may not allow you to overdraft your Venmo account.

Ending Lines

Sometimes you get short of money while purchasing anything in such case you may have to overdraft your Venmo card. That,s why here we have explained how to overdraft your Venmo card and whether it is possible or not.

Demon Jansen

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