about 1 year ago

In today's fast-paced digital age, Venmo has become an integral part of our financial lives. It's a convenient platform that allows us to transfer money, split bills, and make payments effortlessly. However, many users often wonder about one thing - how to get cash from Venmo without a card. In this comprehensive guide, we will walk you through various methods to withdraw money from Venmo, where you can do it for free, and what the withdrawal limits are. Let's dive right in.

How To Withdraw Money From Venmo Without a Card

Venmo primarily operates as a digital wallet, and you may not always want to keep your funds within the app. Fortunately, there are several ways to withdraw your cash without needing a physical card:

a) Link Your Bank Account

The most common method is to link your bank account to your Venmo account. Here's how you can do it:

1. Open the Venmo app.
2. Tap on the three horizontal lines in the upper-left corner.
3. Select "Settings" and then "Payment Methods."
4. Tap on "Add a Bank" and follow the prompts to link your bank account.

Once your bank account is linked, you can transfer funds from Venmo directly into your bank account.

b) Request a Venmo Debit Card

Venmo offers a debit card, known as the Venmo Card, which allows you to access your Venmo balance at ATMs and make purchases wherever Mastercard is accepted. Ordering a Venmo Card is easy and can be done through the app.

c) Use a Cash-Out Service

Several third-party services, such as PayPal and Cash App, allow you to transfer your Venmo balance to them and then withdraw cash from their respective ATMs. Keep in mind that these services may charge fees.

Where Can I Withdraw Money From Venmo for Free?

While Venmo offers convenient withdrawal options, you may want to avoid unnecessary fees. Here are some methods to withdraw money from Venmo for free:

a) Bank Account Transfers

As mentioned earlier, transferring funds from Venmo to your linked bank account is typically free of charge. However, be aware of any potential fees your bank may impose on incoming transfers.

b) Venmo-to-Venmo Transfers

If you have friends or family who also use Venmo, you can send them the funds, and they can send you an equivalent amount in cash. This method is entirely free and instant.

c) Venmo Debit Card

Using the Venmo Card for in-store purchases and ATM withdrawals doesn't involve additional fees unless the ATM you use imposes charges. Check for fee-free ATMs in your area to avoid extra costs.

How To Withdraw Money From Venmo

Now that you know the various methods let's discuss how to withdraw money from Venmo:

1. Open the Venmo app.
2. Tap on the three horizontal lines in the upper-left corner.
3. Select "Transfer to Bank" or "Transfer Balance."
4. Follow the prompts to complete the transfer.

The funds should be in your linked bank account within one to three business days, depending on your bank's policies.

Withdraw Money From Venmo: Know the Limits

Venmo, like all financial services, has withdrawal limits to ensure security and compliance with regulations. Here's what you need to know:

• Standard Withdrawal Limit: By default, Venmo allows you to withdraw up to $2,999.99 per week.

• Verified Account Limit: To increase your weekly withdrawal limit, verify your identity on Venmo by providing your social security number, birth date, and other necessary information. Verified accounts can withdraw up to $19,999.99 per week.

• Card Withdrawal Limit: When using the Venmo Card at ATMs, the daily withdrawal limit is $400. Be sure to check the ATM's terms for any additional fees.

• Daily Transaction Limit: Venmo imposes a daily transaction limit of $4,999.99 for all transactions, including payments, purchases, and withdrawals.

Venmo Withdrawal Limit: A Note of Caution

It's crucial to be aware of the Venmo withdrawal limits and use Venmo responsibly. Attempting to exceed these limits or engaging in suspicious activities may result in account limitations or even closure. Always adhere to Venmo's terms of service and policies.

In conclusion, Venmo offers multiple avenues to withdraw your money, each with its own advantages. Whether you choose to link your bank account, use the Venmo Card, or rely on third-party cash-out services, it's essential to understand the associated fees and limits. By following these guidelines, you can easily access and manage your funds on Venmo.