Money transfers between Cash App and Venmo are not as straightforward as one might hope. However, with the right tools and knowledge, you can seamlessly move funds between the two platforms.
This blog will guide you through the methods, fees, and best practices to successfully send money from Cash App to Venmo.
Key Takeaways:
- No Direct Transfers: Cash App and Venmo do not allow direct money transfers.
- Link via a Bank Account: Use a shared bank account to transfer money between the two apps.
- Debit Card Option: Utilize Cash App Cash Card or Venmo Debit Card as payment methods for indirect transfers.
- Instant Transfers Include Fees: Instant transfers between the two apps may incur a 1% fee.
1. Send Money from Cash App to Venmo Using a Bank Account
The simplest method to transfer money from Cash App to Venmo is by linking both platforms to the same bank account. Here’s how it works:
Step 1: Cash Out from Cash App to Bank Account
- Open Cash App and select the “Balance” tab.
- Tap “Cash Out” and select the linked bank account.
- Choose either Instant Transfer (incurs a 1% fee) or Standard Transfer (free but takes 1-3 business days).
Step 2: Add Money to Venmo from Bank Account
- Open Venmo and tap “Add Money.”
- Select the same bank account linked to your Cash App.
- Confirm the transfer and wait for the funds to appear in Venmo.
This method may take some time depending on the transfer speed, but it’s a secure and reliable way to move funds between Cash App and Venmo.
2. Linking Cash App to Venmo Using Debit Cards
An alternative method involves linking the debit cards associated with both apps. This can offer a more direct transfer of funds, but fees may apply depending on the transfer method.
Using Cash App Cash Card with Venmo
- Order a Cash Card: If you haven’t done so, order a Cash Card from the Cash App.
- Activate the Card: Once the card arrives, activate it through the Cash App.
- Add to Venmo: Go to Venmo’s payment methods and add the Cash Card as a debit card.
This allows you to make payments on Venmo using funds from your Cash App balance. However, be aware that instant transfers come with a 1% fee.
Using Venmo Debit Card with Cash App
Similarly, the Venmo Debit Card can be added as a payment method within the Cash App. Here’s how:
- Order the Venmo Debit Card: If you don’t already have it, apply for the Venmo Debit Card.
- Add to Cash App: Open Cash App, navigate to payment methods and add your Venmo Debit Card.
3. Enabling Direct Deposit on Cash App
For users looking to avoid back-and-forth bank transfers, enabling Direct Deposit on Cash App can simplify the process by treating Cash App like a bank account on Venmo.
Setting Up Direct Deposit on Cash App
- Enable Direct Deposit: Go to the banking section on Cash App and select “Get Account Number.”
- Copy Routing & Account Numbers: You will receive routing and account numbers for the Cash App.
- Add Cash App as a Bank on Venmo: Go to Venmo, add the account information under “Payment Methods,” and treat Cash App as a traditional bank.
This method allows you to make transfers from Venmo to Cash App as if you were moving money between bank accounts, reducing the need for manual transfers.
4. Fees and Transfer Limits
Understanding the fees and transaction times involved in transferring money between Cash App and Venmo is crucial for efficient money management.
Standard vs. Instant Transfers
- Standard Transfers: Free but take 1-3 business days.
- Instant Transfers: Available for a 1% fee with a minimum charge of $0.25 and a maximum of $10.
Transfer Limits
- Cash App Limits: Verified users can send up to $7,500 per week.
- Venmo Limits: Venmo’s rolling weekly limit for transfers is $4,999.99.
Depending on how quickly you need the funds, these options allow flexibility, though instant transfers come at a price.
5. Security and Best Practices
Transferring funds between apps like Cash App and Venmo involves financial transactions that should be handled securely. Here are some best practices:
- Enable Two-Factor Authentication: This adds an extra layer of security to your accounts.
- Verify Payment Methods: Always double-check that the correct payment methods are linked.
- Be Aware of Phishing Scams: Watch out for suspicious emails or messages asking for account details.
Following these guidelines ensures that your transfers are not only smooth but also secure.
Conclusion
While Cash App and Venmo don’t allow direct transfers, using indirect methods such as shared bank accounts, debit cards, or enabling direct deposit on Cash App makes moving money between the two apps achievable. By understanding the fees, limits, and processes involved, you can ensure smooth transactions. Have you tried these methods? Which one worked best for you?
