Venmo is a popular social payment app that facilitates fiat and crypto transactions and allows users to add gift card balances to their accounts. As such, you may want to know how to add a Vanilla gift card to Venmo.
Using gift cards on Venmo can be somewhat confusing, as it is different from linking your bank debit card to your account on the platform.
This is due to the proliferation of many gift cards in the market. But while some of these cards have a fixed value and are non-reloadable, others can be reloaded. You can reload a Vanilla gift card, which is a prepaid card that Venmo supports.
This is in the light of Venmo allowing the use of cards that are registered in your name as payment methods.
These include credit/debit cards, prepaid, and network-branded cards (American Express, Mastercard, Visa, etc.). Meanwhile, there are certain requirements you must meet to add a Vanilla gift card.
- Venmo account, which you must open and complete the know-your-customer (KYC) procedure.
- A Visa gift card that is registered in your name.
- A Visa gift card with sufficient balance. That is why you must check your Vanilla gift card balance before adding it to your Venmo account.
Add Vanilla Gift Card To Venmo
Here is a step to add your gift card:
- Open the Venmo account and click on the three horizontal lines on the page’s top-left corner.
- Click “Settings” and then “Payment Methods.”
- Click “Add bank or card” and choose “Card.”
- Enter your Visa card number, expiration date, and CVV code.
- Click “Add.”
You have successfully added your Vanilla gift card to your Venmo account, but you still need to convert your card’s balance to your Venmo balance.
How To Transfer Vanilla Gift Card Balance To Venmo
You can transfer your Vanilla gift card balance to your Venmo through these steps:
- Click “You” in the Venmo app.
- Choose “Manage Balance.”
- Click “Add money.”
- Choose the Vanilla gift card from which you want to transfer money.
- Enter your preferred amount of money to transfer.
- Click “Add Now.”
You will receive the money immediately in your Venmo account, enabling you to use your Venmo balance to send funds to other users on the platform.
Benefits Of Adding Vanilla Gift Card To Venmo
Venmo employs different security features to protect your personal and financial information. This prevents identity theft that could lead to the loss of funds.
You can use your Vanilla gift card money to send funds, pay for products and services, or withdraw cash. In addition, you can use your account balance to buy Bitcoin on Venmo.
Fee And Limit Of Adding Vanilla Gift Card To Venmo
Venmo usually charges a 3% fee for transferring a credit/debit card to your account balance on the platform. This fee also applies to using prepaid cards like Vanilla gift cards.
There is no limit to the amount of funds you can transfer from your gift card to Venmo. However, some Vanilla gift cards have daily, weekly, or monthly transfer limits.
Therefore, you must check the terms and conditions of use for any Vanilla gift card to know if there are limits in that regard.
Frequently Asked Questions (FAQs)
Can I Add My Vanilla Gift Card To Venmo?
Yes, you can add your Vanilla gift card to your Venmo account. This is the first step in transferring your gift card balance to your Venmo balance.
Why Won’t Venmo Accept My Vanilla Gift Card?
Venmo will not accept your Vanilla gift card if it is not registered in your name. This can also happen if the issuer has already declined the card. In this instance, you may need to contact the issuer to help you resolve the issue.
How Can I Transfer Vanilla Gift Card To My Bank Account On Venmo?
You must withdraw your money from Venmo to transfer the funds from your Venmo balance to your bank account.
Simply go to the “You” tab and click “Manage Balance.” Choose “Withdraw” and select your bank account. Enter your preferred amount to withdraw and click “Withdraw Now.”
How Can I Convert My Vanilla Gift Card To Cash?
You can convert your Vanilla gift card to cash by selling it on gift card exchange platforms or any participating retailer.
Here, I will recommend Prestmit as a reliable platform to sell Vanilla gift cards. Notable as one of the best gift card trading platforms in Nigeria, you get to sell at the best gift card rates with an instant payment.
The process of adding your Vanilla gift card to Venmo is easy and simple. It comes with the convenience and flexibility to use your card at will.
However, it is important to understand the fees and limits associated with transferring your card to your Venmo account. Also, ensure to keep your personal and financial information safe while using the platform.