How To

How To Pay With A Venmo Balance? A complete Guide

Are you bothered by the traditional norms of making financial transactions? Do you want to pay for purchases, or transfer money to others without a linked credit card or bank account? If so, you can utilize the power of Venmo Balance, as it allows you to make payments directly from your account. How to pay with a Venmo balance? There is an easy way to do so by overcoming all limitations.

You need to maintain a substantial balance in your Venmo account to pay whenever you need to. It will be easier for you to conquer the realm of financial transactions once your account conforms to all the policies for making payments. However, we’re going to provide you with a step-by-step guide on how to utilize Venmo Balance to make your life easier. Let’s move on!

How To Pay With A Venmo Balance?

pay with venmo in this image

Instead of your bank account, you can use your Venmo balance to pay for something. In this case, you have to use the Venmo mobile app, as the app is designed to allow you seamless payment all along. With the app, you can pay in a safe, fast, and social way.

Here Are The Steps You Need To Perform To Pay With Your Venmo Balance

Open the Venmo App

Once you have the Venmo app installed and launched on your phone, you need to open it to make payments. Then sign in to your Venmo account by entering your email address, phone number, and password.

Verify Your Identity

Once you’re signed in to your Venmo account, you need to verify your identity to confirm you have access to your balance. To verify your account, you need to navigate to “Settings” by tapping your profile picture in the bottom-right corner. Then click on “Payment Methods”.

As soon as you click on it, you will see Venmo Balance at the top of your screen when your account is verified. But if your account is not verified yet, you can do so by navigating to “Identity Verification” from the “Settings” option.

Tap the “Pay” option

At the bottom of the screen of your account dashboard, you will find the Pay/Request icon with the Venmo logo. Since you wish to pay with Venmo, you have to click on the “Pay” option.

Enter the Recipient

Now it’s time to enter the full information of the recipient to make the payment successful. You can enter the recipient’s contact information directly in the search bar or scan the QR code. Keep in mind that the recipient must have an active Venmo account to receive your payment.

Enter the Amount and Type a Brief Memo

Now tap on the money field to enter the amount you wish to send from your Venmo account. At the bottom of the screen, you will find the number pad to type the exact figure. Then you need to add a memo explaining your payment in the text field located below.

Set A Privacy Setting

Privacy is a must for financial transactions. You need to set privacy settings for the proposed transaction to make it private. From the bottom corner of the dashboard, you have to go to the “Privacy” option and make it “Private” so that nobody can see the transaction except the recipient.

Click on the “Pay” button

You’re almost done. It’s time to confirm the payment by tapping on the “Pay” button located at the bottom of the screen with the recipient and amount. Once you click, your payment will be successfully sent to the recipient if everything goes well.

How to transfer the Venmo balance to a bank account?

pay or request venmo money

If your Venmo account is full with a balance, you can transfer it to your other bank accounts. As Venmo allows you to make secure and instant transactions, you no longer need to worry about it. All you need to do is use its app and follow the exact procedure.

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Here Are The Steps You Need To Follow

Open Your Venmo App And Go To The “Me” Tab

To transfer money from Venmo to a bank account, you have to open the Venmo app on your phone when you’re connected to the internet. Once you have an active Venmo account, you can see your profile picture in the bottom-right corner of the screen. Just click on the picture to go to the “Me” tab.

Tap On The “Transfer Money” Option

Now it’s time to find out the “Transfer money” button on the screen. This blue button is located below your balance. As soon as you find it, just tap on it. Then you will be asked to enter the amount you want to transfer. You have to use the on-screen keyboard to type in the amount you want to transfer.

Select Your Bank Account

At this stage, you have to select your bank account where your money will be deposited. To do so, you have to tap on the “Transfer to” option and select the bank you want to use. You can also set up a new bank account by clicking on “Add a bank” if your account is not shown.

Click On The “Transfer” Button

Finally, you’re set to transfer your amount. Just click on the “Transfer” button to make the transaction complete. Once the transfer is successful, you can find the funds in your bank account. If you want to have an instant transfer, you need to select the “instant” option after entering the amount; otherwise, it may take two or three business days to complete.

How to add money to a Venmo balance?

add money using venmo in this image

If you want to add money to your Venmo balance without any formalities, you can do so using the app. But you must have a Venmo debit card linked to your account. Following are the steps to deposit money into the Venmo balance:

  • Open the Venmo app and navigate to the “Me” tab by clicking your profile picture icon.
  • Then click on the “Manage Balance” option and enter the amount you want to add to your Venmo account.
  • Then tap on the “Next” button to select a bank account from which you want to receive money.
  • Confirm the transaction by clicking on the “Add now” button.

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Final words

Venmo has been a blessing to those who constantly need to deal with financial transactions. Anyone can send, receive, and pay money in a simple, smart, and quick way using the Venmo balance. Its mobile app makes it a pocket bank for the users, and the overall working procedure is extraordinary and convenient.

However, we covered how to pay with a Venmo balance in detail in the article. We also articulated the methods of transferring money from a Venmo account to a bank. If you’re seeking an easy way to pay money, you can, by all means, keep relying on Venmo. Feel free to ask us any queries regarding the Venmo balance.

Ralph Litteral

Technology seems like an intricate field to those who have no academic knowledge and no practical expertise. Non-technical individuals should master the underlying topics of technology to make a strong connection with it. They need to gather essential insight and intuition to propel themselves to the next level. To help them out, Ralph Litteral, an experienced tech-savvy writer- is devoted to covering the complex arenas of technology through his write-ups. He usually provides how-to guides on technology to help others achieve their technological goals. His immense knowledge of technology makes him one of the well-seasoned writers on how-to guidelines.

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