Can you move funds from your Venmo account to a Cash App account? This question is prevalent among mobile money platform users of the two apps. Sometimes you may receive money in your Venmo account and want it in your Cash App account. To perform the transfer successfully, you need to understand how to transfer money from Venmo to Cash App.
Transfer of money across various mobile money wallets is usually online. That means that you need a secure and reliable internet connection to transfer funds successfully. Secure here means that there is no third party that can intercept the communication between two financial platforms. Such characters can steal your details, such as PIN and a username that they can use to steal from you.
However, you should not worry much since mobile platforms have mechanisms to protect you from hackers using end-to-end encryption technology. The technology ensures that no third party can read your information online. That is why you should use the apps instead of browsers since they are more efficient in utilizing end-to-end technology. Venmo and Cash App have apps that you can use with your smartphones to make transactions.
What is Venmo?
If you are hearing about Venmo for the first time, you could be wondering what kind of services they offer. Well, Venmo is a peer-to-peer mobile platform that allows you to receive and send money within the United States. The app belongs to PayPal, the giant online money transfer platform that operates in over 200 countries.
Venmo headquarters are in New York. The company started operating in 2009 under two roommate students named Andrew Kortina and Iqram Magdon-Ismail at the University of Pennsylvania. Their motivation to start the service resulted from witnessing a friend who was frustrated by the lack of traditional point-of-sale systems for his frozen yogurt store. Venmo was going to be a platform to receive payments easily and instantly.
The forum also intended to help friends split bills for movies, dinner, tickets, and others. Since then, the company has tremendously grown to serve millions of subscribers countrywide. According to 2020 Businessofapps statistics, Venmo had reached about 52 million users. The number was approximately a 25% increase from the previous year’s (2019) 40 million
What is Cash App?
Like Venmo, Cash App is a peer-to-peer money transfer platform that operates in the US and UK. Users can send or receive money via an app that works for Android and iOS or use a desktop browser. Cash App belongs to Square, Inc., a payment company that operates in the US. The app is accessible in English and French and thus, it is more diverse than some other apps that use English only.
Like Venmo, Cash App has grown over the years, and early this year, 2021, the company was estimated to have over 36 million active users. It is expected to grow even further as more and more people are beginning to embrace online money transfers.
Cash App started its operations on October 15, 2013. Later in 2015, Square introduced the $cashtag that each user could have their unique $cashtag for easy transfer of money between businesses, organizations, and even individuals. It means that now you can use a phone number, email address, or the $cashtag of the recipient to send them money. You can also use the $cashtag to request money from either a friend or a particular party.
Cash App is available in Google Play Store or App Store. One of the many amazing things with Cash App is that users can get debit cards to use to transact online or at physical stores. I will also show you how the card is handy when it comes to transferring funds from Venmo to Cash App.
How to transfer money from Venmo to Cash App
Now back to our main discussion on how to move funds from Venmo to cash. There are two main ways to transfer money from Venmo to Cash App. They include;
- Using direct deposit for the Cash App account
- Using a bank account that links to both Venmo and Cash App
1) Using direct deposit for the Cash App account
Direct deposit refers to the direct electronic transfer of funds from one account to another. Direct deposit requires both the account and the routing numbers of an account. You can have a Cash App routing number if you have a Cash Card.
In such a case, you are treating your Cash App account like a bank account. You need to understand how you can get both the account and routing numbers of the Cash App. The following steps are necessary.
- On your App, open the Cash App.
- Hit on the $ sign on the app to navigate to the “My Cash” tab.
- Tap the “Cash” option that has a $ sign right next to it.
- Next, move to the “Direct Deposit” section and hit on the “Get Account Number” button.
- A pop-up screen will appear whereby you should tap the “Enable Account” tab.
- After that, hit the “Copy Account Details” tab under your account information.
- You should select “Copy Routing Number” and “Copy Account Number.” The details will remain in your device’s clipboard. You can paste them somewhere, like on the notepad on your phone, for future use.
Once you have the account and routing number of your Cash App account, open your Venmo App to add them to the direct deposit section. You can add the number as follows.
- Open the Venmo Mobile App and tap the menu (three horizontal lines) at the top of the app.
- Go to the “Settings” section and select “Payment Methods.”
- Next, select “Add a Bank or Card.”
- Choose “Bank.”
- After that, provide your suitable verification method and confirm to add the details.
Another option is to link your Cash Card to Venmo. The process is the same, but you should choose ‘’Add Card’’ instead of a bank this time.
Enter your card details, and you will have linked the card. Venmo also allows you to capture the card details using your camera instead of entering them manually. Make sure the photo is clear.
Once you have added you’re routing and account numbers or the card details to Venmo, you can then initiate a money transfer. Follow the steps below to transfer funds.
- Go to ☰ (Menu) and select the “Transfer Money” tab.
- Enter the amount to transfer to your Cash App account.
- Tap “Instant” (charges a small fee) or “1-3 Biz Days,” which has no fees.
- Select your preferred bank account (Cash App account) or debit card (Cash Card in our case).
- Confirm the transfer details, and tap on the “Transfer” button
- Wait for the money to reflect on your Cash App account.
The instant transfer takes around 30 minutes at a 1% fee (with a minimum of $0.25 and a maximum of $10). If you do not need the funds urgently in your Cash App account, you can use the 1-3 Biz Days option. In case you wondered how to get money from Venmo without a bank account, then the above method is very effective.
2) By using a bank account that links to both Venmo and Cash App.
Another alternative is using your bank to transfer money indirectly to the Cash App. Once you have logged in to your Venmo account, you can add your bank account details, verify the bank account and then transfer funds from Venmo to the account. To add a bank account to Venmo, follow the steps below.
- Hit the “☰” (Menu) icon at the top of your app.
- Select “Settings”
- Tap “Payment Methods”
- Select “Add a bank or card. Select “Bank” for our case.
- Select the preferred verification method. You should have at least a balance of $12 in your account for the micro transfers to verify your account and to avoid overdrafts.
Once you have successfully verified the bank account, you can now begin the transfer process as per the steps below.
- Go to ☰ (Menu) and select the “Transfer Money” tab.
- Enter the amount to transfer to your bank account.
- Tap “Instant” (charges apply) or “1-3 Biz Days,” which has no fees.
- Select your preferred bank account.
- Confirm the transfer details, and tap on the “Transfer” button.
- Wait for the money to reflect on your Bank account.
The next move is to log into your Cash App account. Remember that the bank account should as well link to your Cash App. You are now supposed to transfer the funds in your bank account to your Cash App account as follows.
- Tap the Balance tab on the Cash App home screen.
- Select Cash Out.
- Enter an amount to transfer and hit Cash Out.
- Select the preferred deposit speed.
- Confirm the transaction with a PIN or your Touch ID.
Funds should reach your Cash App as per the transfer speed you choose when transferring. If you have debit cards for Cash App and your bank account, you can transfer funds from your bank’s card to your Cash Card since it is possible to transfer money from one card to another online as long as you have online accounts for your bank’s debit card.
Bottom line
Both Venmo and Cash App are mobile money transfer platforms that rely on the internet. You can move money from your Venmo account to your Cash App account in two main ways, which include a direct deposit or by using a bank account that links to both Venmo and Cash App. Both methods are effective, although the instant direct deposit is more useful when transferring emergency funds such as hospital payments, food purchase money, etc.
