You can transfer money from your Walmart MoneyCard to Venmo by having the card linked to your Venmo account, and the MoneyCard's external funding transactions feature lets you transfer up to $1,500 per month from your card to external accounts like Venmo.
Let's see how you can link your Walmart MoneyCard to Venmo and transfer your funds.
How to Transfer Money from Walmart Money Card to Venmo
As mentioned earlier, you must first link your Walmart MoneyCard to Venmo before you can transfer your funds.
The Walmart MoneyCard is a prepaid debit card, and since Venmo supports prepaid cards, it should be easy to add this one to the digital wallet.
To do so:
- Open the Venmo app and tap the menu button.
- Tap "Settings" and tap "Payment methods" under "Preferences."
- Tap the "Add bank or Card" link at the bottom of the Payment Methods Menu.
- Tap "card" in the menu that pops up.
- Type your Walmart MoneyCard information, including card number, expiration date, and security code ZIP code.
- Tap "Add" to add your Walmart Money Card to Venmo.
What Are the Fees for Using Venmo?
There are no monthly fees, setup costs, or costs associated with sending or receiving money using Venmo. You might be wondering how Venmo makes money.
Well, for a very long time, it didn't. But as more and more transactions take place between its users and businesses, Venmo charges the latter a small percentage of the sale, much like a credit card company does. The majority of Venmo's income comes from this.
Though that hasn't been figured out yet, there is also a lot of potential money to be made using the data Venmo gathers.
Be aware that there are some fees, but you can easily avoid them. For instance, there is a 3% fee for using a linked credit card to send money and a 1% (max $10) fee for instantly transferring money between your bank account and your Venmo account (it normally takes one to three days).
Final Thoughts
The Walmart MoneyCard is a reloadable prepaid card that can be used to pay bills, buy goods and services, and also to send money to others without hassle.
Venmo is a P2P payment service that lets users securely and conveniently send and receive money within the United States.
Transferring money from Walmart MoneyCard is easy once you've linked your Walmart MoneyCard to your Venmo account.
