How To Withdraw Money From Venmo Without A Linked Bank Account [Best Guide]

how to withdraw money from venmo without a linked  bank account

Americans is one of those countries that has continue to drive in to the digital payment methods. With about 85% of them using digital payment methods.

This is as a result of the development of digital payment apps like Venmo. Venmo, which is owned by PayPal, allows users to rapidly send and receive money, as well as pay for goods ordered online. In 2021, this app was available only in the U.S.

Venmo makes it simple to conduct financial transactions. This is due to its ability to store cash in a virtual wallet. This cash can then be transfer to friends, transfer into your bank account or mobile account.

In this article, you are about to learn how to withdraw money from Venmo even without a linked bank account.

Can I Withdraw Money From Venmo Without A Bank Account? 

Yes. It is easy to withdraw money from Venmo  even without a bank account. But what is Venmo?

What is Venmo?

Venmo is a digital wallet that simplifies money transfers for everyone. It is a peer-to-peer payment program that you may download on your mobile device. Venmo is an American mobile payment service that was created in 2009 and is now owned by PayPal.

Venmo app works when you connect it to your bank account or debit or credit card. This then enables its users to send money to their bank account or add funds to your Venmo wallet from your bank account. But you can also withdraw money from venmo even without having a linked bank account to Venmo, this we shall see below.

How Can I Withdraw Money from Venmo Without a Bank account

Venmo is a reliable app to use due to its ability to authorized transfers. Below are some methods you can use to withdraw money from Venmo even without a bank account.

1. Using A Venmo Debit Card

Venmo owns a debit card called Venmo debit card, which does not require a linked bank account before it can be used to get money off venmo. To get this card, the followings are required;

  • Download the Venmo app and sign up for a venmo account
  • After signing up, go to the setting menu and you will see the  option for Debit Card Application. 
  • Fill out the relevant information by clicking on it. That is; your name, residency information, and social security number, along with a government-issued ID.

Once you have filled in the above information, submit your application and wait for feedback after few weeks. If you are given the card, then you will get the debit card mailed to your address.

Once you have your venmo account and a venmo debit card, you can load it with funds from your venmo account and you can then use it anywhere that a debit card is accepted. That is, at ATM ,In Stores or restaurant to pay bills.

2. Through Direct Deposits

Another way to withdraw money from Venmo without a linked bank account is through direct deposit.

Direct deposit is a feature that allows eligible users to add all or a portion of their paycheck to their venmo account electronically.

Just like having direct deposit set up for a bank account, you can have a direct deposit set up set up with a Venmo account. To do this, you have to provide your employer or who so ever is concern with all the information needs. Once your direct deposit set up is done, your paychecks can be deposited into your Venmo account and you can use your venmo debit card to access those funds.

The following steps are required to set up direct deposits;

  1. Tap your photo or initials to see the "Me" tab.
  2. Tap the Setting gear in the upper right corner.
  3. Tap Direct Deposit
  4. To display your Venmo account and routing numbers, tap Show Account information.
  5. Copy both numbers and paste them into your employer's Direct Deposit form.
  6. If you are asked to provide a bank, give any Venmo insured banks like Bancorp Bank. This is the bank that issues Venmo MasterCard.

3. Receiving/Sending Money From/to Another Person

Another way to get money from Venmo without a bank account is to receive money from others or send money to other friends using this app. 

To receive money from a friend on Venmo, he/she will need your Venmo information, such as your user name, phone number and email address. And after having these formation, they can then send the money in to your Venmo account. 

It is advisable to add your picture to your Venmo account. This is to avoid any transfers errors due to poor identification from friends who want to send you money through Venmo. Your money in your Venmo account can then be withdrawn using the Venmo card.

4. Withdraw Money at an ATM Using Venmo Card

You can use your Venmo debit card at an ATM to withdraw money from your Venmo account without a linked bank account. Any ATM that accepts MasterCard, PULSE, MoneyPass or Cirrus should accept a Venmo debit card. Although all ATM transactions are free, some may charge a sum of $2.50 to $3.00 per withdrawal.

5. Ask A Friend To Withdraw The Money from your Venmo Account

If you are not having a Venmo card but have a friend who has a Venmo card then ask him to help you   withdraw the money from your Venmo account.

First, you will have to pay in the funds in to their accounts by entering their username, phone number, or email before being withdrawn.  If you are just close by, then you can also scan your friend's QR code in-app to instruct the payment too.

6. Cash A Check

To use the Cash a Check service, you must first complete the required identity verification by enrolling for a Venmo Debit Card or setting up Direct Deposit. Once this is done, follow the steps below to cash a check;

  1. Tap your photo or initials to see the "Me" tab.
  2. In the wallet area, press the "Manage Balance" button.
  3. Select "Cash a Check". You will be prompted to verify your your account information.
  4. Enter the check amount, snap a photo of the front and back of the check with your phone, and then press the "Next" button.
  5. Choose how quickly you want to get your money (fees may apply). This might take few seconds for check to be review or up to 2 hours if  network is slow.
  6. If your check is approved by Venmo, you will be prompted to write "VOID" across the front of your check and submit another photo showing the "VOID" check.

Do not write Void on your check until you are prompted to do so. That is, after receiving a confirmation that your check was approved.

What Is The Use of Venmo?

Venmo can work with a linked bank account as well as it can also work without a bank account as you can see above. The uses of Venmo are:
  • Venmo is used to make transactions using the Venmo MasterCard debit card provided by Bancorp Bank anyplace MasterCard is accepted in the United States.
  • Venmo is used to pay for purchases through apps and websites that authorized Venmo partners
  •  Used to cash a check after verifying your identity with a Venmo debit card or setting up direct deposit.
  • Venmo may be used to make purchases in stores by scanning the In-store QR code and paying using Venmo.
  • Used to receive price alerts from cryptocurrencies like: Bitcoin, Ethereum, Litecoin and Bitcoin Cash, that you can buy sell or hold through Venmo
  • Venmo is use to sign up for direct deposit for your paycheck to go straight to your Venmo account.

How Much Can I Send Through Venmo?

It is true that Venmo allows for money transfers without a linked bank account, but it also has some transfers or spending limits.

Venmo imposes spending limits for person-to-person payments, purchases with the Venmo MasterCard debit card, online and in-app purchases made with your Venmo account and purchases with an in-store QR code.

  • For unverified accounts, your weekly spending limit for all transactions  is $299.99.
  • Foe verified accounts, your weekly spending limit is $6,999.99.
  • Person-to-person payments have a weekly limit of $4,999.99.
  • The weekly cap for cryptocurrency purchases is $20,000, while the 12-month limit is $50,000.
  • From Venmo to bank, weekly limit is $999.99 for unverified account and $19,999.99 weekly for verified accounts.

Related Post:

  1. How To Transfer Money From Venmo To A Linked Bank Account
  2. How To Transfer Money From Bank Account To Mobile Wallet Using Taptap Send App
  3. How To Transfer Money From Bitsika Wallet To Mobile Money Account & Bank Account
  4. How To Add Money To Bank Account From PayPal Wallet

Final Thought On How To Get Money From Venmo Without A Linked  Bank Account

Venmo is a digital wallet that simplifies money transfers for everyone. It is a peer-to-peer payment program that you may download on your mobile device.

Venmo can be used with a linked bank account as well as without one.

To get money from venmo without a linked bank account, you can use direct deposit, cash a check, use the Venmo MasterCard debit card to cash out at any ATM that accept the Card. You can also use the venmo card to pay for purchases in stores using QR code as seen above.

Venmo can be used in U.S and this app is owned by PayPal.