When it comes to paying for things like your morning coffee or Friday night dinner with your besties, there are plenty of options from which to choose. You could split the bill on credit cards, toss some cash toward the bill, or you could send your share of the cost with Venmo. It might seem like there are already enough ways to send or spend your money, but one company has introduced a new card to accompany its mobile payment services. Here's how to get the Venmo card, so you can still cover your costs even if your phone battery is ticking down to zero.
In a blog post on Monday, June 25, Venmo announced the arrival of its Venmo card, which is a physical debit card that is connected to your personal Venmo account. The post also shared how Venmo users can get their hands on the new Venmo card that comes in six fun colors. Since the Venmo card is initially a limited release, you can reserve a spot to apply for one.
It's super simple to add your name to the Venmo card waitlist, too. First, update your Venmo app on either iOS or Android to the latest version from the App Store or Google Play, respectively, and then you'll find the option called "Venmo Card" in the Venmo drop-down menu. Tap on Venmo Card, and then tap where it says "Get In Line" at the bottom of the screen. As for finally receiving a Venmo card, you'll get an email inviting you to apply for the card once you've moved to the top of the waitlist.
At first, you might wonder why you should go through all this waitlist trouble for an old-school debit card, but the Venmo card might turn out to be more useful than you originally thought.
You can use the Venmo card anywhere Mastercard is accepted in the United States, and the funds are drawn straight from your Venmo balance. If you're an avid Venmo user who regularly has triple digits in your Venmo balance, then you can avoid a bank transfer by simply using that money in-store with the swipe of your Venmo card. That's right, the Venmo card will work on your morning Starbucks run or at a Friday night happy hour, as long as you use it where Mastercard is accepted.
If constantly using the Venmo card helps you run your Venmo balance lower than normal, you can reload funds to your Venmo balance right there in the Venmo app. When you do so, Venmo will use your linked funding source to make sure you're in the clear for all of your Venmo card purchases.
While having money to use in your Venmo balance is nice when you transfer your BFF your half of Sunday brunch, there are times when you simply want good ol' cash. With the Venmo card, you can withdraw cash from your Venmo Balance at any ATM with Mastercard, Cirrus, PULSE, or MoneyPass acceptance marks. There is a $2.50 fee for any non-MoneyPass ATMs, but there is no fee at a MoneyPass ATM. So, as long as you find the right ATM, you'll be flush with cash from your Venmo balance.
When it comes to the look of your vertical Venmo card you can choose from six available colors: white, yellow, pink, blue, green, and black. Honestly, the colors are really fun, and they might be reason enough to sign up to receive the new Venmo card.
Once you get swipe-happy with your bright pink Venmo card, you'll be glad to know that your Venmo card transactions show up in the Venmo app like all of your other Venmo transactions already do. Plus, if you lose track of your colorful Venmo card, you can disable your lost Venmo card until you're able to recover it.
This release of the new Venmo card comes after Venmo tested the feature with "beta card users." According the The Verge, the test card was horizontal Visa debit card, and it featured an image bread dough, so I'm thrilled to learn that Venmo kept the relevant technology but upped the aesthetics with the June 25 limited release of the Venmo card.
With the Venmo card, you can now take advantage of the money you have stored in your Venmo balance even if you don't have your phone on you. The release of a debit card might not have been a move you'd expected from Venmo, but you'll be glad you have your Venmo card the next time you go to split the bill and your phone is nowhere to be found.