Can I use my Venmo Teen Debit Card at an ATM?
Yes! The teen debit card can be used to withdraw money from any ATM that accepts Mastercard.
Some things to keep in mind:
💸 The teen debit card has a daily withdrawal limit of $400.00.
- Only MoneyPass ATMs can be used without a fee from Venmo.
💸 ATM withdrawals will only pull funds that are currently in the Teen Account balance.
- If more than the current Teen Account balance is requested, your withdrawal will be declined.
💸 Venmo has a $2.50 fee when withdrawing money from non-Moneypass ATMs.
- Other ATMs may have their own fees
- An ATM fee added by Venmo will not count against the $400.00 limit
- Any fees added by the ATM company itself will count against the $400.00 limit
How do I activate my Venmo Teen Debit Card?
The teen debit card will need to be activated by the creator of the Venmo Teen Account. Please reach out to the parent or guardian who provided you with the account, and they will be able to activate the teen debit card in their Venmo app.
What is an authorization?
When you make a purchase using your Venmo Teen Debit Card, the merchant will place a hold on the funds in the available Venmo Teen Account balance to cover the initial amount of your purchase. This is called a merchant authorization.
Authorizations allow the merchant to ensure that the Venmo account is open and working, with sufficient funds in the Venmo Teen Account balance to cover the purchase. This transaction will appear as a pending charge in your transactions feed until the merchant completes (captures) the transaction and posts the final amount.
What is a capture?
Funds will not be transferred to the merchant until they finalize the transaction and capture the final amount of your purchase.
Once a merchant captures an authorization, you’ll see the purchase completed for the final amount in the Teen Account’s personal transactions feed. Please note that while most merchants may capture a transaction in 1-5 days, a merchant may take up to 30 days to finalize the transaction.
Why is my Teen Account balance less than expected before a purchase is finalized?
Right after you make a purchase (authorization), all or part of the Venmo Teen Account balance will be held until the purchase is finalized (captured) by the merchant.
If the Venmo Teen Account balance exceeds the amount of your purchase, the Teen Account balance will be reduced by the authorized amount to account for this hold. This is to ensure that there are enough funds to cover the purchase once it is finalized.
However, if the amount of your purchase exceeds the available Teen Account balance, the transaction will be declined. If the initial authorization was for a greater amount than the final capture, any funds held in excess of the final purchase amount will be made available within 30 days of completion of the transaction.
How long will my transaction remain pending?
Different kinds of transactions can remain pending for different amounts of time. While most transactions may complete within 7 days, authorizations may remain for a few days longer.
Merchants have up to 30 days to finalize the transaction. In these scenarios, Venmo needs to allow the merchant enough time to complete or void the transaction before we can intervene. If you suspect that a transaction has been pending for too long, have your parent or guardian contact us so we can take a closer look.
Why was the final amount (capture) different than the initial authorization?
There may be a difference between the amount that you see when a purchase is initially authorized, and the final capture amount. This is because some merchants place a hold larger than the transaction amount to cover incidentals or tips (such as “pay at the pump” for fuel, or at restaurants), which will impact the available balance while the authorization is pending.
If no incidentals took place, or you tipped less than the hold amount, your final transaction amount will reflect that difference.
Why did this merchant charge me again when I already paid for my order?
It’s not uncommon for online merchants to authorize your teen debit card for the full amount of your order, then individually capture the amounts for any parts of your order shipping separately.
This means that you may see a pending transaction for your expected total, followed by smaller transactions that make up the different parts of that total. Once the merchant has shipped all of your items, they’ll typically capture the smaller transactions and release any funds held for the total transaction amount back to the Teen Account balance.