Both, Venmo and Cash App, can be used when you wish to send money to your friends or family. Although you can easily add friends on Venmo, little information is available on how to transfer money from Venmo to Cash App and if that is even possible. If you are also confused about those sort of funds exchange then it is about time that you get some solid answers!
- You can send money from Venmo to Cash App either by using direct deposit feature on Cash App or by linking both apps to the same bank account.
- Users have to adhere to Venmo transfer limits or else their transactions will be turned down.
- Venmo charges 1.5% of the amount as fee when you choose instant transfer.
…and Much More!
Can You Transfer Money From Venmo To Cash App?
Yes and No! The honest reply is that you will not be able to find any dedicated button on the Venmo app that lets you send money to Cash App directly.
However, it is still possible to share money between these money transfer apps indirectly. Before we start to discussing how sharing of money from one account to another is possible, there is a need to understand why such an important feature has been skipped at first place.
Therefore, many customers have been under the impression that it is not possible at all. Luckily, if you have created an account on both apps, there are a number of steps that you can take in order to send money from your Venmo account to Cash app account easily and quickly.
You might be interested in reading: How To Transfer Money From Venmo to Bank Account Via App?
Methods To Transfer Money From Venmo To Cash App
Venmo has provided its users with a wide range of benefits and perks to enjoy. For example, you can make a bachelorette account and enjoy free drinks. You can also borrow money from Venmo or invest through Venmo stock symbol.
Besides these interesting features,Venmo has ensured that there are no issues with payments through app. However, when it comes to transfer to Cash App, the feature is not directly available and customers need to opt for one of the two alternative methods.
- You can enable direct deposit on Cash App and then use Venmo to send money to the Cash App account.
- Another approach is that you link the two apps to the same bank account and use the bank as mediator for money exchange.
Method 1 – Using Direct Deposit Feature Of Cash App Account
This is perhaps the easiest way to send money from Venmo to Cash App without incurring any extra charges. Let’s check out how this works!
Set Up Direct Deposit On Cash App
You can set up a direct deposit on Cash App after you have activated your account. This would allow you to receive money on Cash App via other accounts.
- Open the Cash App on your smartphone.
- After that, you have to click on the dollar sign that is present at the top of your screen.
- This will take you to another page labelled My Cash.
- You can find the Cash button on this tab. Tap on it and then move to Direct Deposit option.
- Here you can share the account number of the account through which you wish to deposit money to Cash App and vice versa.
- Tap on Get Account Number to obtain a pop-up on the screen.
- The pop-up will contain an Enable Account button. Click on it and locate the section that contains your account information.
- You can copy the information from here by tapping on Copy Account Details. Don’t forget to copy both, the routing number and as well the account number.
Add Cash App Account Credentials To Your Venmo Account
The next thing to do is to open your Venmo account and then tap on Settings. This is located at the top of the page indicated by 3 straight bars.
- From the Settings, you have to move to Payment Methods.
- This window will allow you to add a bank account or card to Venmo account by clicking on Add a Bank or Card option.
- Here you need to select Bank.
After you are done with the verification process, you have to paste the Cash App account details that we had asked you to copy earlier in the required fields.
This is all you have to do in order to proceed with transfer of funds between Cash App and Venmo. Now your Venmo account will recognize Cash App as an authorized bank and allow you to add money to Cash App account easily.
Method 2: Linking Both Apps To The Same Bank Account
Another technique is to link Venmo and Cash App to the same bank account. This would also allow you to transfer money between apps without any hassle. Here’s an overview of how this can be done.
Transfer Money From Venmo To Your Bank Account
First of all, you have to transfer funds to your bank account using the Venmo app. This is quite easy! You can add the bank account details to Venmo as we discussed above.
- Then on your Venmo app, locate three horizontal lines and tap on them. This would direct you to another page where you need to select Transfer To Bank option.
- On some devices you might see Transfer Money option instead.
- Next, enter the amount that you wish to send. After that, specify whether you want the transaction to occur instantly or you would allow 1 to 3 business days for it. Instant transaction ensures that the money reaches the next account within 30 minutes. However, it does incur extra charges.
- After you specify the method of transfer and provide necessary bank details, you can finish the process by clicking on Transfer.
Venmo instant transactions may be down sometimes so make sure you have enough time on your hands to opt for cost-free standard transfer instead.
Send Money From Bank Account To Cash App
Now that you have funds in your bank account, it is time to transfer them to Cash App.
- You can do so by opening your Cash App account and tapping on Balance.
- Then select Add Cash and enter the amount of money that you wish to transfer.
- Click on Add and enter your secret PIN to transfer the money. Alternatively, you can also your Touch ID confirmation to proceed.
The only downside of this method is that it can take more time as compared to Method 1 that we have discussed. Nonetheless, it is equally reliable and many users employ it to successfully move funds from one account to another.
How Much Money Can You Send From Venmo To Cash App
The amount of money that you can transfer from Venmo to other account depends on whether you have verified your information with the app or not. Here are some important pointers that will take care of the confusion that you are having.
- Without verification you can send $299.99 per week from Venmo account.
- Without verification you can sent $999.9 per week from Venmo to other bank account
- After verification you can send $2999.99 per week from Venmo account.
- After verification you can send $ 19999 per week from Venmo account to other bank account.
In a nutshell, the verification will benefit you by allowing you to send larger amount of funds per multiple transactions. You can get your identity verified with Venmo app by providing your full name, contact address, contact number, Zip code, birth date, and social security number.
Can You Transfer Money Using Cash App Card?
If you are using Cash card that is linked to your Cash App account then it is possible to use it for money transfer. The advantage of this alternative is that you will not have to spend time setting up direct deposit on your Cash App.
You have to perform the same method of copying Cash App routing number and account number for your account and then opening Venmo app. Here when you go to Settings and Payment Methods, tap on Card instead of Bank as you did previously.
Then you have to enter your card information such as card number or the expiry date. You can enter all the data manually. Alternatively, it is also possible to use the phone’s camera as a scanner and transfer information directly to Venmo app.
Cash App Debit Card – What You Need To Know
Since we are talking about Cash card, here are some important facts and figures you need to know about this plastic.
- First of all, all transactions made via the card carry transfer fee.
It is set at 1% of the amount exchanged. The lowest charge is $0.25 and the maximum threshold is $10.
Secondly, you can avail some authorized merchants here and purchase from them without additional costs. If you are shopping from other than these sellers then you have to pay a standard 3% fee.
You might be interested in reading: Stores That Accept Venmo.
Venmo and Cash App – In a Nutshell
Both Venmo and Cash App are famous as money-saving and transferring apps. They are available on Android as well as iOS systems so all customers can download them easily whenever needed.
Venmo was launched in 2009 as a text message-based payment. In 2012, Venmo makers upgraded it to an integrated social network platform.
Note! In 2012, Venmo was purchased by Braintree for $26.6 million and in the next year Braintree was bought by PayPal for $800 million.
Currently Venmo and Cash App are both widely used to send and receive money between friends and family. Furthermore, they work in collaboration with many online stores and allow for in-app purchases as well.
You might be interested in reading: Venmo Canada.
The Bottom Line
So this is everything you need to know about how to transfer money from Venmo to Cash App. Hopefully, this article would help you to carry out the task without any issues.
- Venmo transfers are also instant so you can see results right away. If not, then there is always an option to choose Instant Transfer.
Cash App and Venmo are amazing apps for peer-to-peer transfers. You can benefit a lot by using them together. So when are you going to make your first transfer from Venmo to Cash App? Don’t forget to share your experience with us in the comment section below!
Frequently Asked Questions
Why can’t I send money directly from Venmo to Cash App?
Venmo and Cash App are literally meant for the same purpose which means they are both widely used for peer-to-peer money transfer. Since the two companies can be taken as competitors, they don’t offer support direct exchange of money between them.
Does it cost extra charges to use Cash Card?
All transactions made via the card carry transfer fee. It is set at 1% of the amount exchanged. The lowest charge is $0.25 and the maximum threshold is $10. You can avail some authorized merchants here and purchase from them without additional costs. If you are shopping from other than these sellers then you have to pay a standard 3% fee.
Can I cash out money from my Venmo account?
Yes. It is possible to withdraw money from your Venmo account via ATM that has acceptance marks of Mastercard, PULSE, or Cirrus. However, you have to pay $2.50 as cash withdrawal fee.