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Venmo started in 2009 and as of 2020 has over 52 million users making it one of the most popular P2P apps available today. (1)
But will it work with your Chime account? If so, how exactly do you properly set things up so you avoid any problems with using it in the future?
As a general rule of thumb, you can use Venmo with your Chime Bank account and Chime debit card without issue including sending money, receiving money, paying for goods or services, and investing in crypto. Set up is a breeze and there are minimal fees for using your Chime account with Venmo.
In This Post:
- How to Link Your Chime Bank Account with Venmo (Step-By-Step)
- How Do I Transfer Money From Chime to Venmo?
- How Do I Transfer Money From Venmo to My Chime Account?
- How Long Does Venmo Take to Transfer to Chime?
- Are There Fees for Using Venmo With Chime?
- Does Chime Work With Venmo Instant Transfer?
- Does Chime Card Work with Venmo?
- Is Venmo Safe to Use With Chime?
- What If I Have Problems Using Venmo With My Chime Account?
- Wrapping Up
- References
How to Link Your Chime Bank Account with Venmo (Step-By-Step)
There are two different ways to link your Chime account with Venmo. You can log in to your Venmo account using a computer to link the account or within the Venmo app itself.
Using a Computer
To add Chime to your Venmo account, you can do so by using a computer. Here is how step-by-step.
1) Go to https://www.venmo.com and log in to your account.
2) Click on Settings on the left side of the screen.
3) Then click on Payment Methods and then Edit Payment Methods.
4) Next you will be presented with two options. The first is to link directly to your bank account. The second is to instead use your debit card. We will explain which option you should choose depending on what you’ll be using Venmo for below and continue walking you through the process of setting things up once you decide.
Using the Venmo App
For most people, linking your Chime account with Venmo from within the Venmo app is the easiest way to set things up. To do this, follow the steps below:
1) Download, install, and open the Venmo app if you haven’t done so already. You can install it on both Android and iOS.
2) Log in to your account and then click on the menu button in the top right corner of the app.
3) Click on Settings and then Payment Methods.
4) Click on “Add a bank or card“.
5) Next you will need to decide if you want to link directly to your bank account or add a debit card or credit card. Additional info can be found to help you decide below. Once you have, we will continue walking you through the process.
Linking Directly to Your Bank Account, Debit Card, or Credit Card – Which Should You Use?
If you are planning to send and receive payments or pay in apps, you need to link directly to your bank account. If you are planning to only send money or pay in apps, then you can add a debit card or credit card. However, if you use a credit card, there is a 3% fee for each transaction. Using your debit card or linking directly to your bank account is without a fee.
If you use a credit card, there is a 3% fee for each transaction
Using a Debit Card or Credit Card
To use a debit card or credit card with your Venmo account including a Chime debit card, click on “Card”. You will then be prompted to enter your card number, expiration date, security code, and associated zip code. Once you’ve entered the requested info, click on “Add” to finish adding the card.
After your card has been added, Venmo will attempt to verify the account by making a small transfer of $1. It is important to ensure you have money in your Chime account, otherwise, you may incur an overdraft charge.
Linking Directly to Your Account
To link directly to your Chime Bank account and use it with Venmo, click on “Bank”. Then choose from Instant Verification or Manual Verification.
For most people, using instant verification is your best option as your account is verified instantly and only requires you to sign in to your Chime account. However, if you prefer you can use manual verification. You need your Chime Bank account number and it can take up to 3 days to verify.
For the remainder of this guide, we are going to assume you clicked on Instant Verification. This process is handled through a service called Plaid. You will be prompted with a few disclaimers to which you will click on Continue. Next, you will need to select your bank. Select Chime and then login into your Chime account with your email address and password.
Recommended Reading: As a Chime user, have you ever considered using something in addtion to or even as an alternative to Venmo? I wrote an article showing how you can connect your Chime account with Cash App as well as how you can use Chime with Zelle. Both great options!
How Do I Transfer Money From Chime to Venmo?
Once you have your Chime account linked to Venmo, there is nothing more you need to do to transfer money from Chime to Venmo.
To pay or request money from someone using Venmo, login into the Venmo app and click on the blue “Pay or Request” button at the bottom. Then all you need to do is choose who you want to send money to or request money from by using Venmo.
How Do I Transfer Money From Venmo to My Chime Account?
To transfer money from Venmo to your Chime account, click on the hamburger menu icon in the top right corner of the app. Then click on Transfer money near the top. Choose how much money you’d like to transfer from Venmo to your Chime account and if you want it to be an Instant transfer or 1-3 biz days.
If you choose instant transfer, there is a 1.5% fee and a transfer limit of $15. If you choose 1-3 biz days, there is no limit or fees. (2)
How Long Does Venmo Take to Transfer to Chime?
How long it takes to transfer your funds from Venmo to your Chime account depends on which transfer option you choose.
If you choose Instant transfer, then those funds will be available in your Chime account immediately with a limit of $15. If you choose 1-3 biz days, then your transfer will typically take 1 to 3 business days to be available in your Chime account.
Are There Fees for Using Venmo With Chime?
Using Chime with Venmo has the following fees:
- When you withdraw funds from Venmo to your Chime account and request an instant transfer, you will pay a 1.5% fee.
- If you use a credit card with your Venmo account to pay for something or to send someone money, you will pay a 3% fee.
- If you deposit a payroll check or government check into your Venmo account, you will pay a 1% fee with a minimum fee of $5.
Otherwise, there is no fee to open an account, no monthly fees, and for the most part no other fees for using your Chime account with Venmo.
Does Chime Work With Venmo Instant Transfer?
As a general rule of thumb, your Chime Bank account will work with Venmo instant transfer without issue. Keep in mind, however, that there is a limit of $15 for instant transfers and you’ll pay a 1.5% transfer fee.
Does Chime Card Work with Venmo?
Yes, Chime card does work with Venmo. To use your Chime card with your Venmo account, click on the hamburger menu icon in the top right corner of the app. Then click on Settings and Payment Methods. Click on Add a bank or card and then Card. Enter your Chime Card information and then click Add.
Is Venmo Safe to Use With Chime?
Yes, in general using Venmo with your Chime account is perfectly safe though like anything online, you have to use common sense and not give out your login information or security codes when they text you one. Venmo is owned by PayPal and in most cases, it’s equally as safe as any other online payment platform.
Recommended Reading: Is it possible to get your direct deposit early and if so how? I wrote an article answering some of the more common deposit related questions with your Chime account.
What If I Have Problems Using Venmo With My Chime Account?
If you have problems with using Venmo with your Chime account, it could potentially be a number of issues. The best and most effective way at figuring out what the problem is and how to resolve it is by contacting customer support for each.
Chime Customer Support
The best way to contact Chime customer support is to call them at 1 (844) 244-6363. (3)
Venmo Customer Support
The best way to contact Venmo customer support is to call them at (855) 812-4430. (4)
Additionally, you can chat with Venmo support from within the Venmo app by clicking on the hamburger menu icon in the top right corner, clicking on Get help, and then Contact Us.
Wrapping Up
Linking your Chime account to Venmo to send and receive money, purchase goods or services, or invest in crypto is a pretty simple and straightforward process. You can set things up through a computer or through the Venmo app itself and can use a debit card (including your Chime card), a credit card, or link directly to your Chime account though fees will vary depending on which you choose.
References
- Business of Apps – https://www.businessofapps.com/data/venmo-statistics/
- Venmo – https://venmo.com/about/fees
- Chime – https://help.chime.com/hc/en-us
- Venmo – https://help.venmo.com/hc/en-us/requests/new?ticket_form_id=624807