How do Venmo card reloads work?
When you sign up for a Venmo card, you’ll be asked to select a bank account that will act as the funding source for any reloads that might occur while using your card. If you don’t have a verified bank account on file, you’ll need to add one before you can sign up for a card.
Venmo card purchases are always funded by your balance. When you use Venmo card to make a purchase we hold your balance at the amount of the transaction. If you don’t have enough balance to cover the full amount transaction, we hold your entire Venmo balance. You’ll see the transaction marked as “pending” in your Purchases section in the app. In a few days (usually 1 to 5 business days) the merchant will settle the transaction. At this time, if the amount of your purchase is more than the balance that was held when you swiped your card, Venmo will take money (or “reload”) from the bank account you selected in $10 increments to cover the entire amount of the purchase.
Here’s an example:
Let’s say you have $5 in your Venmo balance and you purchase a $17 movie ticket with your Venmo card. Your $5 balance will be held at the time that you swipe your card and the transaction will be listed as “pending” in your app. The movie theater’s card processor settles the transaction 24 hours later. Since you did not have enough in your balance to cover the entire amount of the purchase, Venmo will reload $20 from your bank account. This brings your balance to $25 and the purchase amount will be deducted then.
After the purchase is settled and completed, you’ll see the following:
- $20 charge in your bank statement (reload funding source)
- $17 purchase in your transaction history (taken from your Venmo balance)
- $8 left in your Venmo balance to use