When you link a card to Venmo as your funding source, Venmo usually sets it as your preferred funding source, especially if you aren't yet eligible for a Venmo balance. Eligibility for the Venmo balance usually comes with identity verification, and if you haven't completed yours yet, you'll need to do it to get access to Balance before setting it as your preferred funding source.
First, Check Your Eligibility for the Venmo Balance
You can be eligible for the Venmo balance without even knowing. This happened to a Venmo user who came up with a similar issue on Reddit, and his only problem was that he never knew he was already eligible for the feature.
So first things first, let's check if you are eligible for the balance:
- Open the Venmo app and go to the "Me" tab.
- Tap the Wallet toggle.
- If you see "Venmo balance" displayed alongside the money in your account, you're all set.
If you don't see the balance displayed, then you'll need to meet the identity verification requirement to get the feature.
According to Venmo, you can still receive payments and transfer the funds to a bank account without access to your Venmo balance, but you won't be able to use the funds in your account to make Venmo payments until you verify your identity.
Moreover, verifying your identity also helps secure your account against fraudulent activities and would make things even easier when recovering access to your Venmo account in case it gets hacked by hackers and spammers on the platform.
You can easily verify your identity on Venmo by following these steps:
- Go to the "Me" tab.
- Tap the Settings gear in the top right.
- Tap "Identity Verification" and follow the on-screen instructions.
Identity verification only takes a few minutes provided you followed the on-screen instructions. So you can proceed with the next steps to using your Venmo balance after you've completed this step.
What Are The Requirements To Use Venmo Balance Instead Of Card?
The requirements for using Venmo balance instead of a card are straightforward up to this point, right?
However, if it is still unclear to you, the requirements for using Venmo balance instead of a card or bank include;
- Your account must be verified.
- Your Venmo balance must have sufficient funds to cover the transaction.
How To Use Venmo Balance Instead Of Card
When you already have a Venmo balance, you won't need to switch payment methods from your card to this balance. Venmo automatically prioritizes your balance as the primary payment source and will only use your card if your balance doesn't have enough to cover the purchases.
This happened to me back in July before I came updating this post. I wanted to pay for football boots on Temu and when I used Venmo as my payment method, my card was debited automatically meanwhile I had enough money in my balance. What I didn't take into consideration was the transaction cost, since I always send money to other Venmo users from my balance at no cost. And because of the $2.40 that added as fees, my card got charged instead for the boot payment. So I quickly realized that having a complete balance without thinking about transaction costs will also prompt Venmo to charge your linked payment card.
So your take here is having your identity on Venmo verified and making sure that your account balance can cover not only the transaction amount, but equally the fees if there's any.
Oh, and just so you should know, if you keep insisting on using your payment method without having funds on it, Venmo might end up freezing your account.
How To Use Venmo Balance To Pay Someone
If you've verified your identity on Venmo, then you can use your balance to pay someone on Venmo.
However, you would need to make sure you have enough money in your balance to cover the transaction in order to use the Venmo balance for making payments.
Why Can't I Use Venmo Balance Instead Of Card To Pay Someone?
Using the Venmo balance to pay someone comes with some requirements, and if you don't meet these requirements, chances for you using the Venmo balance for payments are typically out of consideration.
The main reasons why you can't use Venmo balance instead of card for sending payments include;
- Your account isn't verified.
- Your account balance does not have sufficient funds to cover the transaction.
Frequently Asked Questions
Can you pay someone with Venmo balance?
Yes, you can pay someone with Venmo balance, but that would only be possible if you have sufficient balance in it to cover the transaction.
How do I pay with Venmo instead of card?
To pay with Venmo balance instead of card, you'd have to verify your identity on the platform.
Can you use Venmo without a card or bank account?
You'd basically need to add a card or bank account to Venmo in order to use the app for making transactions.
Final Thoughts
Venmo makes it easy for users to make transactions through the app without forcefully using a card or bank account as a direct funding source — that's through the Venmo balance.
However, the Venmo balance isn't available for every user, and to know if you can use the balance, you'd just need to navigate to the Wallet section with a few tabs.
To use the Venmo balance instead of card or bank account, all you'd need to do is verify your identity and make sure you have enough funds to cover the transaction.
Thankfully, this guide compiles everything you need to know about using the Venmo balance instead of card in case you get confused somewhere.
