Have you ever received a gift card from Visa, Mastercard, American Express or Discover and struggled to spend the balance? Adding these prepaid and reward cards to your Venmo account solves that problem!
Connecting eligible gift cards to your Venmo wallet lets you consolidate multiple payment sources in one convenient app. This comprehensive guide will walk you step-by-step through linking gift cards to Venmo from both mobile and desktop.
I‘ll explain which brands work, how to transfer balances, what it enables you to do, pro tips and answers to frequently asked questions about gift cards on Venmo. Follow along to learn everything you need to know!
Overview: Key Reasons To Link Gift Cards With Venmo
Before we dive into the how-to details, let‘s quickly go over the main benefits of adding gift cards to Venmo:
- Consolidates balances from multiple cards in one place
- Provides backup funding for payments and transfers
- Enables gift card use for Venmo Pay online shopping
- Allows transferring balance to bank account
- Lets you split/pay friends using gift card balance
- Gives full access to gift card funds without physical card
Overall, linking gift cards with Venmo makes it simpler to manage various funding sources for digital payments and purchases.
According to Venmo‘s 2022 annual report, over $230 billion was processed in payment volume last year. More users are adding prepaid and reward cards to maximize flexibility.
Now let‘s get into the step-by-step guide…
What Gift Cards Work With Venmo?
Venmo has direct partnerships with the major card brands:
- Visa
- Mastercard
- American Express
- Discover
This means most standard gift cards from these issuers should be compatible.
However, to successfully link with your Venmo account, prepaid gift cards must be registered under your name and billing details.
Per Venmo‘s user agreement policies:
"Gift cards, prepaid debit cards, and other merchant-branded prepaid cards added to your Venmo account must be issued in your name."
So double check your gift card contains your first and last name matching your Venmo account profile before adding.
Now let‘s get into connecting that gift card balance…
Step-By-Step Guide: Add Gift Card to Venmo
I‘ll walk you through how to link a gift card with the Venmo app on your mobile device or on the Venmo website accessed from your desktop.
Option 1: Mobile App (Recommended)
Adding a gift card is quick and easy with the Venmo app on your phone or tablet.
Step 1: Open the latest version of the Venmo app and sign into your account:
Fig 1. Venmo App Login Screen
Still having trouble installing the app? Check out how to setup Venmo on iOS and Android devices.
Step 2: Tap the ☰ menu button in the top-left corner then select Settings:
Fig 2. Navigate To Venmo Settings
Step 3: Scroll down and tap on Payment Methods under Preferences:
Fig 3. Go To Payment Methods
Step 4: Press the Add bank or card button:
Fig 4. Add A Bank Or Card
Step 5:
- Choose Card
- Input your gift card Number, Expiration date and Security code
- Tap Add to link
Fig 5. Enter Gift Card Details
Once successfully verified, your gift card balance will appear as an active payment method under your Venmo account!
Option 2: Desktop Website
To add a gift card on Venmo‘s website from your laptop or desktop computer:
Step 1: Visit Venmo‘s website and login to your account
Step 2: Click your profile icon, then Settings
Step 3: Choose Payment methods from the menu
Step 4: Click the Add debit card or bank account button
Step 5:
- Select Card as payment type
- Complete card Number, Expiration date and Security code fields
- Check box to make this card your default for payments
- Click Add card to finish linking process
And that‘s it! After a quick verification, your gift card will show under Payment Methods on Venmo‘s website and mobile app.
Transfer Money From Gift Card To Venmo Balance
Once connected, you can seamlessly transfer all or part of the balance from your linked gift card over to your Venmo funds:
Step 1: Tap the profile icon in Venmo app
Step 2: Choose Manage Balance
Step 3:
- Enter amount to transfer
- Select added gift card as payment method
Step 4: Press Add Now to initiate transfer
The money should instantly shift over from your gift card to replenish your Venmo balance.
Transfer Money From Venmo To Gift Card
You can also go the other way – sending money from Venmo balance to reload a linked gift card:
Step 1: Tap the profile icon
Step 2: Press Add or Transfer
Step 3:
- Input amount to transfer
- Pick connected gift card issuing bank
Step 4: Choose transfer speed:
- Instant (fees apply)
- Standard (1-3 days, no fees)
Step 5: Confirm transfer details
Step 6: Select Transfer to finish
Standard transfers take 1-3 business days to shift money from Venmo to your gift card balance. Instant transfers cost a small fee but complete in seconds.
| Transfer Type | Speed | Fee |
|---|---|---|
| Instant | <1 minute | 1% (min $0.25) |
| Standard | 1-3 business days | None |
Table 1. Venmo Money Transfer Fees & Time Comparison
Now let‘s discuss some popular ways people are using gift cards with Venmo…
What Can You Do With Gift Cards On Venmo?
Adding eligible gift cards to your Venmo wallet lets you:
Pay Friends & Family
Just like your Venmo balance or linked bank card, connected gift cards with sufficient funds can make peer-to-peer payments.
Splitting dinner? Sending your niece birthday money? Reimbursing friends? Use your gift card balance instead of your own cash!
Shop Online With Venmo Pay
More and more retailers now accept Venmo Pay thanks to its partnerships with Paypal and major card issuers.
Activated gift cards on Venmo let you pay at many online stores. No need for the physical gift card anymore!
Withdraw Cash From ATMs
Have remaining balance on an American Express gift card? Connect it to Venmo, then withdraw cash fee-free from MoneyPass ATMs.
Venmo‘s debit card gives you access to over 60,000 ATMs to turn gift card funds into physical spending money.
Fund Your Venmo Debit Card
Running low on your Venmo Card for in-store purchases? Instantly reload with linked gift card money as a backup payment source!
Since it operates as a standard debit card on card network rails, gift card balances seamlessly integrate.
Transfer To Bank Account
Transfer gift card funds over to Venmo balance, then cash out to your connected bank account.
Depending on verification timeframes and issuer policies, this allows access to gift card money outside of just card spending.
As you can see, adding gift cards to your Venmo app unlocks a ton of possibilities!
Expert Tips To Maximize Gift Card Rewards
Check out these Pro tips for getting the most value from gift cards using Venmo:
🔑Register card ASAP – Don‘t wait until balance is empty! Add now to consolidate funds in Venmo.
💡Set as default payment – Choose your highest balance gift card for easy 1-click online checkout.
💵Check card expiration – Avoid missing out on balances for expired cards. Spend funds before it‘s too late!
🎁Save high-reward cards – Only use gift cards with no or low rewards for peer and ATM payments first.
📈Track balances – Venmo‘s history and purchase notifications help monitor gift card usage. No more manual calculations!
👫Ask friends to contribute – Running low? Request money to reload card for a group event or as a gift!
As you follow these tips over time, you‘ll accumulate major savings, convenience and rewards leveraging gift cards on Venmo!
Most Common Gift Card Questions Answered
Let‘s wrap up this guide by answering some frequently asked questions:
How long do gift card transfers take in Venmo?
Standard gift card balance transfers take 1-3 business days, depending on issuer policies. Instant transfers complete in seconds but cost a 1% fee (minimum $0.25).
What types of gift cards work on Venmo?
In general, most standard Visa, Mastercard, American Express and Discover gift cards properly registered with the cardholder name and details can be added.
Why is my gift card not working on Venmo app?
Ensure your connected gift card has sufficient funds to cover the attempted payment or transfer. Also double check the cardholder name perfectly matches your Venmo account profile name per their policies.
Can I pay other Venmo friends with a linked gift card?
Yes! Available gift card balances on your account can fund peer-to-peer Venmo payments, splits or reimbursements to your friends or contacts.
Is there any fee for using gift cards with Venmo?
Venmo does not charge a specific fee for linking or transacting with gift cards. But instant transfers from gift card balance to bank or Venmo funds incur a small surcharge.
Have additional questions? Feel free to ask for clarification in the comments below!
I hope you found this comprehensive, extended guide helpful for understanding how to connect eligible Visa, Mastercard, American Express and Discover gift cards into your Venmo account.
We covered which prepaid and reward card brands work, step-by-step linkage instructions, practical use cases for gift card balances on Venmo Pay online and in stores, expert tips to maximize value, common transfer times and fees, plus answers to frequently asked questions.
Adding gift cards to your Venmo digital wallet lets you easily track, spend and manage gift funds alongside your bank card and balance – avoiding the hassles of physical gift cards.
Let me know if you have any other questions in the comments!
