Venmo Debit Card review: fees, limits and how it works
Venmo users who want to spend their balance
Quick answer: The Venmo Debit Card is a Mastercard that spends your Venmo balance, issued by The Bancorp Bank. There's no monthly fee and MoneyPass ATMs in the US are free, so typical use costs $0 a month. Other ATMs cost $2.50 per withdrawal. It suits people who already get paid through Venmo.
Best for: Venmo users who want to spend their balance
Pros
- No monthly fee
- Cash back: 1% by default, 2% after $250 and 5% after $1,500 in qualifying monthly spend, up to $100 a month
- Paycheck up to 2 days early
Cons
- Out-of-network ATM fee
What the Venmo Debit Card costs per month
| If you… | Monthly cost | How it adds up |
|---|---|---|
| Spends a Venmo balance, MoneyPass ATMs only | $0 | There's no monthly fee, and withdrawals at MoneyPass ATMs in the US are free. |
| 2 withdrawals at non-MoneyPass or non-US ATMs | $5 plus ATM operator fees | Venmo charges $2.50 per withdrawal at non-MoneyPass and non-US ATMs (2 x $2.50). |
Who it suits
Good fit if
- People who receive money through Venmo
- Earning cash back on everyday card spending
- Free cash at MoneyPass ATMs in the US
Skip it if
- You withdraw cash abroad, where each ATM withdrawal costs $2.50
- You rarely use Venmo
- You want to build credit
Fees
| Monthly fee | None |
| Other | $2.50 at non-MoneyPass and non-US ATMs; MoneyPass ATMs in the US are free |
How to get and load it
Apply in the Venmo app.
- Venmo payments
- Direct deposit
- Linked debit card
Activation
Activate in the Venmo app. See our step-by-step activation guide.
Deposit protection and credit building
Protection: Issued by The Bancorp Bank, N.A. See Venmo's terms for FDIC pass-through details.
Credit building: No
Venmo Debit Card FAQs
Does the Venmo Debit Card have a monthly fee?
Monthly fee: None. Other charges to check: $2.50 at non-MoneyPass and non-US ATMs; MoneyPass ATMs in the US are free.
How do I activate the Venmo Debit Card?
Activate in the Venmo app.
Is money on the Venmo Debit Card insured?
Issued by The Bancorp Bank, N.A. See Venmo's terms for FDIC pass-through details.
Does the Venmo Debit Card build credit?
No
How do I add money to the Venmo Debit Card?
You can load it by Venmo payments, direct deposit, linked debit card.
Official Venmo (issued by The Bancorp Bank, N.A.) site
Sources: venmo.com. Fees change; confirm on the official fee schedule.