If you're looking for a safe way to extend the use of your Walmart MoneyCard funds, then transferring money from Walmart Money Card to Venmo can come handy in managing your funds in a more flexible way.
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.
The card comes with lots of benefits most especially for Walmart shoppers letting them get a cash back of 1% in Walmart locations, 2% in Walmart fuel stations and up to 3% when shopping through the Walmart app.
Venmo, on the other hand, is a P2P payment service that lets users securely and conveniently send and receive money withing the United States.
Venmo is one of the financial apps that offers financial aid to its customers. This means, eligible users can borrow money from Venmo. This is an important feature of Venmo that help most users maintain a healthy financial life.
Sending money through Venmo is very easy and can be done in simple steps. Venmo is also accepted by many as a payment method making it more popular and convenient way of paying than the Walmart MoneyCard.
Knowing how to transfer money from Walmart Money Card to Venmo will help you easily complete your transactions and send payments to other Venmo users.
That said, this article focuses on showing you how to transfer money from Walmart Money Card to Venmo without hassle.
Table of Contents
What is the Walmart Money Card?
The Walmart MoneyCard is a reloadable prepaid debit card that you can use to make electronic purchases everywhere MasterCard or Visa debit cards are accepted.
Many of the features on your card are similar to those on a checking account. You can receive payment up to two days early by using your card for direct deposit.
Cash checks using mobile check deposit to add funds to your balance. Use the card's complimentary online bill-pay service or write checks against your balance to pay bills and other expenses.
You can track activity on your prepaid card by downloading the Walmart MoneyCard App to an Apple or Android smartphone.
How do you get a Walmart Money Card
A Walmart MoneyCard is simple to get. The Walmart MoneyCard website allows you to order one, and it will be delivered in two weeks.
You can buy a card right away at any Walmart location to skip the mail line. Before using your card, you must be 18 years of age or older and load funds onto it.
A valid Social Security number is required to open the account, and both the mobile app and mobile or email verification are necessary to access all account features.
Read Also: Does Zelle Work With Walmart Money Card?
What is Venmo?
Venmo is an American mobile payment service founded in 2009 and owned by PayPal since 2012.
Venmo was created for friends and family who want to split costs for things like movie tickets, dinner, rent, and other expenses.
Account holders can send money to other people using a mobile phone app, but both the sender and the recipient must be US citizens. The business generated $850 million in revenue in 2021 while managing $230 billion in transactions.
Venmo is a mobile payment service that provides a way to pay friends and others when you don’t want to deal with cash. Through a mobile app, Venmo account holders can send money quickly and easily to other Venmo account holders.
Venmo lets users pay for their online purchases or in person with a Venmo Debit Card or new Venmo Credit Card.
Read Also: How to Withdraw Money from Venmo without Card.
How Does Venmo Work?
You must first create an account in order to use Venmo, which you can do by downloading the Venmo app (available for iOS and Android) or online at venmo.com.
You will be required to enter your bank account information in addition to the usual name, address, and contact information.
To use Venmo, you must connect a bank account to your account. (Note: Venmo can only be used with banks located in the United States and is only available there.)
Once you've registered, it's quick and simple to send money to or request money from someone: Find the Pay or Request button on the home screen of the app (you can't pay or request money through the website); it will either say "Pay or Request" or look like a pencil and a square.
The amount, a note, and as many people as you wish to pay or charge are then entered, along with a username, phone number, or email address.
As you type specific words in your note, emojis will appear; you can choose to use them or not.
Every Venmo user has a unique QR code that can be used to locate them, or it can be presented to a person or business to be scanned.
When you're ready to complete the transaction, tap "Request" or "Pay" depending on what you want to do with the information you've entered.
If you send someone money via email, they will receive a confirmation email that they must click on in order to accept the payment.
If you're requesting money, they'll get an email asking for it, and you'll get an email saying you've been paid.
Venmo will automatically deduct the shortfall from your linked bank account if you try to make a payment but don't have enough money in your account.
On the other hand, you can use the app's menu to select "Transfer balance" if you have a large amount of money in your Venmo account and want to transfer it to your bank account.
Click "Transfer money" on the home page of venmo.com.
Can You Transfer Money from Walmart MoneyCard to Venmo?
Yes, you can transfer money from Walmart MoneyCard to Venmo.
Transferring money from Walmart MoneyCard to Venmo is an example of transferring money to an external account.
According to Walmart MoneyCard Support, you may perform external account funding transactions up to $1,500 per month and your Walmart MoneyCard can be used to add money to Venmo within the limit set for external account funding.
All you'll need to do is to link your Walmart Money Card to Venmo and transfer funds to your Venmo account.
Read Also: How to Transfer Money from Walmart Money Card to PayPal.
How to Transfer Money from Walmart Money Card to Venmo
You can add multiple cards to Venmo, including prepaid cards and gift cards from Visa, MasterCard, American Express, and Discover.
You must first add your Walmart MoneyCard to the Venmo app in order to transfer funds from it.
Here are the steps to add a Walmart MoneyCard to Venmo:
- Open the Venmo app and tap the menu button —the three horizontal lines at the top-left corner to the screen.
- 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, security code zip code.
- Tap "Add" to add your Walmart Money Card to Venmo.
Once you've linked your Walmart MoneyCard to Venmo, you can transfer money from the Walmart MoneyCard to Venmo which will be an external account funding from Walmart MoneyCard.
Read Also: How to Transfer Money from One Walmart MoneyCard to Another.
- How To Withdraw Money From Venmo Without Card
- How to Send Money from Venmo to PayPal
- How to Transfer Money from Venmo to Cash App
- How to Transfer Money from Venmo to PayPal
- How To Transfer Money From Venmo To Debit Card Instantly
- How to Get Money from Venmo Without Bank
- Does Chime Work With Venmo?
- How To Transfer Money From Varo 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).
Is Venmo Safe for Use?
Your bank account and/or credit card accounts are linked to your Venmo account for it to work properly.
This makes it possible for you to send and receive money from friends, family members, and other app users.
The Venmo platform processes transactions between users who are sending and receiving money using an application programming interface (API).
The company's website states that to secure and protect its users' personal and financial data, Venmo employs encryption protocols.
The company once referred to its security measures as "bank-grade," but that language has since been taken down from the website.
According to Venmo, user information is kept on servers in safe places.
So it would appear that Venmo is secure at first glance. It's not perfect though.
If you haven't enabled multifactor authentication and someone were to obtain your PIN or account login information, they might be able to use the app to fraudulently withdraw money from your bank account.
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 withing the United States.
Transferring money from Walmart MoneyCard is easy once you've linked your Walmart MoneyCard to your Venmo account.