Making a payment with Venmo: A step-by-step guide
Getting started with Venmo couldn’t be any easier. Below are the few easy and straightforward steps you need to follow:
- Download and install the Venmo app. You can get the Venmo Android app at Google Play while the iOS version is offered at iTunes and the App Store.
- Launch the app and create your Venmo account. It only takes a few seconds.
- Link your newly created Venmo account to your credit card, debit card, or bank account.
- Fund your Venmo wallet using a linked source.
- You can now fund your online casino with Venmo using your desktop or one of our recommended online casino gambling apps. In case you have insufficient funds to meet the payments you’re trying to make, the amount drawn will be deducted from the linked debit, credit or bank account.
A nice thing about using Venmo is that there are zero charges to set up your new account or for making payments. Linking your Venmo account to your credit, debit or bank account is also a free service.
There’s no charge for setting up a Venmo account. Nor are there any fees for sending or receiving money from casino sites with Venmo. The only thing that will result in a fee is sending cash to an individual using the card service because the bank could classify this as an advance payment.
How long do Venmo deposits and payouts take?
January 2021 saw Venmo introduce a feature for check cashing for online casinos accepting Venmo. This ‘Cash your Check’ feature allows for only select clients to take snapshots and images of paper checks, then deposit them into their personal Venmo accounts as per the company’s website.
With this free option, it is only a matter of ten days for the cash to be processed. Alternatively, there is an option to get your funds instantaneously if you pay the required fee. This is usually processed within a few minutes, with the longest time being 1.5 hours. The fee in question is 1% for payroll and government checks, and 5% for anything else with the bare minimum being $5. Making a withdrawal using Venmo should only take you two to three days. Be sure to check out our fastest payout online casinos guide.
Verify your Venmo account
According to the USA Patriot Act, Venmo should implement a CIP (Customer Identification Program). Every region or country has specific CIP requirements that need to be met before a customer’s data can be collected. Venmo’s verification process requires you to provide basic information such as your full name, your national ID, national tax number, physical address, and date of birth. There is the need to confirm and verify your user identity, a process that requires the site to make use of a national database for the confirmation and positive match of address, legal name, DOB and ITIN/SSN. To verify this information, be sure to click on the ☰ at the top of the Venmo app. Click on ‘settings, and then ‘Identity Verification’.
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A brief history of Venmo
Venmo was initially created by Andrew Kortina and Iqram Madgon-Ismail. They were two roommates who studied at the University of Pennsylvania. Legend has it that the two were helping a friend start a frozen yogurt store. In the process, they got tired of the inadequacies of the traditional points of sale software. During a locally organized jazz concert, the duo came up with a concept that would enable them to buy MP3 recordings of the performance in an instant. It was only a matter of time before the two came up with a prototype for sending funds via text messages.
Before long, their vision had transformed into a smartphone app kind of approach. In the year 2010, the duo raised $1.2 Mil in seed money, and two years later their firm was acquired by a fintech company by the name Braintree. It wasn’t until 2015 that PayPal introduced the slogan ‘Pay with Venmo’ advising clients to feel free and confident in using the app at retailer stores in lieu of credit cards or cash. Of course, you can use it at online casino sites with Venmo too.
Venmo compared to other payment providers
Undoubtedly, PayPal is one of the most trusted and popular payment platforms to send money to customers and friends. As a subsidiary of PayPal, this should apply to Venmo as well, especially when it comes to payments at Venmo online casinos. PayPal was established in 1998 as a secure and fast electronic payment system tailored to online commerce specifically. Venmo came onto the scene 11 years later as a way of making it easier for day to day Venmo casino online users to send money conveniently via mobile device or text.
There are numerous similarities between PayPal and Venmo, especially given the fact that PayPal owns Venmo. However, there are quite some slight differences in terms of transaction limits, fees, ease of use, ratings, where they are available, and so on. Online casinos with Venmo will only allow you to use the Venmo app to make payments unlike PayPal which is accessible via mobile or desktop browser. Venmo accepts payments via the linked bank accounts and credit cards, which is the same as PayPal.
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Most popular payment methods
As convenient as it is to make an online casino deposit using Venmo, there are some very good alternatives that also facilitate mobile payments. While some alternatives like Pay by Phone Bill online casinos are only good for depositing, most of them let you withdraw. Make sure to check out our expert payment reviews and our expert online casino reviews to help you choose the best casino and payment method for you.
This payment option is ideal for Android users, although it is also compatible with IOS. It’s Google’s version of Apple Pay online casino payments. While using this option, you are allowed to spend a maximum of $9,999 in a single transaction or as much as $10,000 within a seven-day period. There are no fees or costs involved in sending the money, but this option does not allow you to make use of your credit or debit card to send funds to relatives and friends.
PayPal makes the best option if you are looking for a low-fee payment processor for your transactions. This option is compatible with both IOS and Android, and it makes a perfect option for both platforms. One of the benefits to using PayPal is the high limits. It also helps that it is so widely accepted at American online gambling sites. You will find that PayPal is more flexible than other similar options like Paysafecard at online casinos.
Advantages of casinos with Venmo
Bettors who make an online casino deposit with Venmo enjoy some advantages that they don’t necessarily get with other payment options. In case you want to keep all your transactions private, you can do so from the app’s settings tab. Let us delve into some more benefits you get to enjoy with Venmo.
Venmo ensures that all user information is safe and protected by the latest and most advanced encryption technology. With this, there is nearly no chance of any unauthorized transaction happening. In case you lose your phone, you can log in to Venmo via desktop site and sign out from all operations involving that particular mobile device. To be on the safe side, ensure that you have an ID or pin attached to your mobile device for extra security.
Optimized for mobile
This payment option is fully optimized for mobile users, making it super functional on any mobile device. This caters to those tech-savvy individuals who have abandoned their desktops for their mobile phones and other gadgets.
Casino sites with Venmo don’t charge any transaction fees or monthly maintenance fees. The only fee incurred would be imposed by the respective credit card company such as AMEX for online betting.
Disadvantages of using Venmo at online casinos
Just as is the case with almost any payment option, Venmo comes with some drawbacks.
At the moment, Venmo is only available to US players. As such, bettors from any other country are restricted from using it as a payment method at online casinos using Venmo.
Venmo’s transaction limits are lower than a lot of other payment methods. A $4,999.99 weekly limit won’t really matter to a recreational player who wants to deposit at a casino using Venmo, but it might not meet the needs of high rollers. If you win a large jackpot playing slots, Venmo might not be the ideal option to cash out those winnings. You might want to consider another option like an online casino bank transfer.
Special casino bonuses that players enjoy with Venmo
The bonus options you can enjoy with Venmo are specific to your online casino of choice, as is the case with other payment methods out there. There are tons of generous bonus offers that you can take advantage of at American online casinos and it doesn’t matter if you prefer slots, table games, specialty games, sports betting, or even online poker.
If you play at one of our recommended online casinos using Venmo, you can earn free spins, free sports bets, loads of bonus cash, and much more. All online casinos that take Venmo are in the business of promoting their brand and giving potential customers incentives to join up. Basically, you can enjoy bonuses regardless of the payment option you choose.
One thing we highly recommend is that you read the terms and conditions of any bonus you may be interested in claiming. That way, you can see if your online casino deposit with Venmo qualifies for the offer.
Conclusion – Venmo is a convenient choice
As a relative newcomer, Venmo has a long way to go before it is fully accepted as a preferred online casino payment option. However, the future looks promising. The number of online casino platforms that support it is on the rise. It also helps that it has such a close association with a trusted titan like PayPal.
Venmo as an entity is doing the best they can to ensure that merchants encourage their customers to embrace it. The mere fact that so many American-based online gambling sites support it is a testament to how trustworthy and convenient Venmo is.
❓ Do online casinos with Venmo offer special Venmo bonuses?
Everyone loves a bonus offer, and if you are considering playing at a Venmo online casino, you’ll want to know if it comes with a Venmo-specific bonus. To find out, you are encouraged to check out our extensive operator and bonus reviews to find the best bonuses that are extended to Venmo users. You’ll find all sorts of free bets, free spins, bonus cash, and much more.
⚓How do I know that online casinos that take Venmo are legit?
There are several ways to make sure the site you want to play at is legit. The best way is to refer to our in-depth expert operator reviews. These are loaded with helpful information designed to help you choose the best online casino, welcome bonuses, and promotions for you.
⚡ What Venmo online casinos have the best apps?
Mobile sports bettors want to use a betting app that is reliable, responsive, and easy to use. Our experts thoroughly assess online betting apps so that you don’t have to. You can read about the best apps right here and then choose the one that you can make the most of.
⏳ What is the best casino with Venmo?
This depends on what your idea of the perfect online casino is. In other words, it’s a matter of personal preference. Our expert reviews are a great place to find the casino with Venmo that’s ideal for you. They will help you find the best bonuses, largest collection of games, and all the other features that make online betting so much fun.
☝Is Venmo the best payment option for me?
This depends on a number of factors. This tutorial tells you everything you need to know about Venmo. Check out our other expert payment reviews, do some comparisons, and decide which method best suits your personal preference. Our payment reviews cover all the angles and let you know all the pros and cons.