Mobile payment apps like Venmo and Square Cash make sending and receiving funds digitally easier than ever. Although these platforms have their own distinctions, convenient ways to move money from one user to the next. You have come to the right place for those who use both Venmo and Square Cash.
Venmo helps to transfer money between the two apps, including setting up accounts, connecting bank accounts/debit cards, and initiating the actual transfer. Just follow these steps to access funds from your Venmo account for purchases or sending cash to loved ones on Square Cash – it’s that simple!
Setting up Venmo and Square Cash Accounts
Signing up for Venmo
Here are the steps to take:
- Download the Venmo app.
- Create your account using email, phone number, or Facebook credentials.
- Provide personal information for identity verification (e.g., full name, DOB, last 4 digits of SSN).
- Upload a profile picture (optional).
Signing up for Square Cash
To set up your Square Cash account, follow the steps below:
- Download the Square Cash app through the App Store or Google Play Store,
- Create an account using your email or phone number,
- Personal information for identity verification will be required (e.g., full name and DOB).
- Upload your profile picture (optional).
Linking Bank Account and Debit Card to Venmo and Square Cash
Adding a bank account to Venmo
To add a bank account to Venmo, users can follow these steps:
- Open the Venmo app and navigate to “Settings,”
- Then click “Payment Methods,”
- Select “Add a bank or card” and choose “Bank,”
- Enter the routing and account number of the desired bank account.
- Verify the bank account through online banking credentials or micro-deposit verification.
Adding a bank account to Square Cash
To add a bank account to Square Cash, users can do the following:
- Open the Square Cash app,
- Tap the profile icon in the top left corner,
- Select “Cash” and then “Add Bank,”
- Enter the routing and account number of the desired bank account,
- Verify the bank account through micro-deposit verification.
Adding a debit card to Venmo and Square Cash
To add a debit card to Venmo or Square Cash, follow the steps below:
- Go to “Settings,”
- Then “Payment Methods,”
- Select “Add a bank or card” and choose “Card,”
- Enter the card number, expiration date, and CVV code of the desired debit card.
- Verify the debit card by entering the code via text or email.
After linking the bank account or debit card to Venmo and Square Cash, you can access your funds from the bank account. You can use the funds to make regular purchases or send money to friends and family who use Venmo/Square Cash platforms.
Transferring Money from Venmo to Square Cash
Transferring Money from Venmo to Square Cash is a simple process. Here’s how it works:
1. Accessing the Venmo balance
- Open the Venmo app,
- Go to “☰” menu button in the top left corner,
- Select “Transfer to Bank” from the menu,
- and choose the account from which to withdraw funds.
2. Initiating transfer to Square Cash
- Open the Square Cash app,
- Tap the “$” icon at the bottom center of the app,
- Enter the amount of money you want to transfer,
- Tap “Pay,”
- Select “Use Debit Card” as a funding source,
- Then enter debit card information and billing ZIP code and tap “Confirm.”
3. Confirming transfer in Square Cash
- Open the Square Cash app,
- Tap the “☰” menu button in the top left corner,
- Select “Cash Out,”
- Choose the bank account where you want to receive funds,
- Confirm transfer details, and tap “Cash Out” again to complete the transfer.
There may be fees associated with transferring money between Venmo and Square Cash, so checking with both platforms for their current policies and fees is recommended. Additionally, transfers may take several days depending on the banks involved; therefore, planning is essential.
The Bottom Line
Utilizing monies across easily transferred from Venmo to Square Cash. Users must first set up their accounts, link their bank accounts or debit cards, and then adhere to the transfer procedures.
Planning for the potential processing time and keeping in mind any fees connected with the transfer are crucial. Users will benefit from access to several payment platforms for their financial transactions by adopting these safeguards and using the services properly.
Frequently Asked Questions (FAQs)
Q. Is it free to transfer money from Venmo to Square Cash?
Q. How long does transferring money between Venmo and Square Cash take?
A. Transfers may take a few days to complete, depending on the banks involved. It’s essential to plan accordingly.
Q. Can I transfer money from Square Cash to Venmo?
A. It is possible to transfer money from Square Cash to Venmo using a similar process to what you have read here.
Q. Can I transfer money using a credit card between Venmo and Square Cash?
A. Venmo and Square Cash typically only permit transfers between bank accounts and debit cards; sending money using a credit card might not be possible.
Q. What should I do if my transfer from Venmo to Square Cash fails?
A. If a transfer fails, it’s essential to check for any errors in the information provided, such as incorrect bank account or debit card information. Contacting customer support for both Venmo and Square Cash may also be necessary.
Q. Is it safe to transfer money between Venmo and Square Cash?
A. Venmo and Square Cash take security measures to protect users’ financial information. Still, using strong passwords, enabling two-factor authentication, and taking other precautions to keep accounts secure is essential.
Q. Can I transfer money internationally between Venmo and Square Cash?
A. Venmo and Square Cash may not support international transfers, so checking their policies and regulations is essential.
Q. Are there any limits on how much money I can transfer between Venmo and Square Cash?
A. Venmo and Square Cash may limit the amount of money that can be transferred, depending on their policies and the user’s account status.
Q. Can I transfer money between Venmo and Square Cash using a mobile device and a computer?
A. Yes, transfers can be initiated using mobile devices and computers as long as the user can access the Venmo and Square Cash accounts.
Khadija Khartit is a personal finance who has 25 years of experience in banking, corporate finance, crypto, financial planning, and investing. She worked for and co-advised with leading investment banks such as UBS, Deutsche Bank, HSBC, Credit Suisse, Barclays, and Banque Populaire.