The well-known social payment software Venmo lets users add gift card balances to their accounts and enables both fiat and cryptocurrency transfers. You might thus be interested in learning how to add a Vanilla gift card to Venmo.
It can be a little perplexing to use gift cards on Venmo because they work differently from bank debit cards linked to Venmo accounts.
This is because there are a lot of gift cards available in the market. However, some of these cards can be reloaded, while others have a fixed value and are not. Vanilla gift cards are prepaid cards that work with Venmo and may be reloaded.
This is in consideration of the fact that Venmo accepts credit and debit cards registered in your name as payment options.
These consist of network-branded cards (American Express, Mastercard, Visa, etc.), prepaid cards, and credit/debit cards. To add a Vanilla gift card, you must first fulfill a few prerequisites.
These are the following:
- You have to open a Venmo account and finish the know-your-customer (KYC) process.
- A Visa gift card that you have registered.
- A Visa gift card with enough money on it. For this reason, before adding a Vanilla gift card to your Venmo account, make sure you check its balance.
How to Add Vanilla To Venmo
The following is how to add your gift card:
- Click the three horizontal lines in the upper-left corner of the page after opening your Venmo account.
- After selecting “Settings,” select “Payment Methods.”
- Select “Card” after clicking “Add bank or card.”
- Input the CVV code, expiration date, and Visa card number.
- Select “Add.”
The Vanilla gift card has been successfully deposited to your Venmo account; however, the balance on the card needs to be converted to your Venmo balance.
How to Use the Balance on a Vanilla Gift Card on Venmo
By following these procedures, you can transfer the balance on your Vanilla gift card to your Venmo:
- Within the Venmo app, select “You.”
- Select “Manage Balance.”
- Select “Add money.”
- Select the Vanilla gift card that you wish to make a cash transfer from.
- Enter the desired amount of funds to be transferred.
- Select “Add Now.”
- You can use your Venmo balance to send money to other users on the app as soon as you receive the money in your account.
The Advantages Of Using A Vanilla Gift Card With Venmo
1. Safety
Several security measures are used by Venmo to safeguard your financial and personal data. By doing this, identity theft that can result in financial damage is avoided.
2. Adaptability
You can withdraw cash, send money, and pay for goods and services with the money on your Vanilla gift card. Additionally, you can purchase Bitcoin on Venmo with your account balance.
Venmo Fee and Limit for Adding Vanilla Gift Cards
When transferring money from a credit or debit card to your account balance on Venmo, there is often a 3% fee. Using prepaid cards, such as Vanilla gift cards, incurs an additional cost.
You can transfer an unlimited amount of money to Venmo from your gift card. There are, however, daily, weekly, or monthly transfer caps on some Vanilla gift cards.
As a result, to find out if there are any restrictions, you must review the terms and conditions of usage for each Vanilla gift card regarding that.
Answers to Common Questions (FAQs)
Could My Vanilla Gift Card Be Added To Venmo?
It’s possible to link your Vanilla gift card to your Venmo profile. To transfer the balance from your gift card to your Venmo balance, start here.
Why Is My Vanilla Gift Card Not Accepted by Venmo?
If your Vanilla gift card is not registered in your name, Venmo will not accept it. This may also occur if the card has already been denied by the issuer. To help you fix the problem in this case, you might need to get in touch with the issuer.
How Do I Use Venmo to Transfer a Vanilla Gift Card To My Bank Account?
To move money from your Venmo balance to your account, you must first withdraw it.
All you have to do is select “Manage Balance” under the “You” menu. After selecting “Withdraw,” choose your bank account. To withdraw, enter your desired amount and select “Withdraw Now.”
How Can I Get Cash Out of My Vanilla Gift Card?
Selling your Vanilla gift card on gift card exchange websites or at any participating merchant will allow you to get cash back.
Here, I’ll suggest Kdctrade as a trustworthy online retailer of Vanilla gift cards. You can sell at the greatest gift card rates and receive immediate payment on one of Nigeria’s most reputable gift card trading platforms.
In summary
Adding your Vanilla gift card to Venmo is a quick and straightforward process. You can use your card whenever you choose, which is convenient and flexible.
It’s crucial to comprehend the costs and restrictions related to adding your card to your Venmo account, though. While utilizing the platform, be cautious to safeguard your financial and personal information as well.
