My Experience Using Venmo with Debit Cards

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I earlier wrote about using payment services with the Alaska Air and Delta airline debit card.  I also transferred money to Emily via Venmo with the Alaska Air and Delta debit card and here are my results!

There is a $2,000 monthly limit on the amount you can transfer using a debit card with a Venmo account for free.

1.   Alaska Air Debit Card.  I transferred $17 to Emily using the Alaska Air debit card and I earned 9 Alaska Air miles (0.5 Alaska Air miles per $1 spent) about a week after my statement closed.

2.  Delta Debit Card.   I transferred $13 to Emily using the Delta debit card, but I saw a charge of $13 AND another charge for 2 cents when I logged on to my bank account.

The charge for 2 cents later disappeared and I earned 13 Delta miles (1 mile per $1 spent) 1 week after my statement for August closed.

As always, you should ensure that you have a legitimate reason to transfer money to your friend or partner to ensure that your accounts are not flagged by Venmo or your bank and risk being frozen.  Having your primary bank account shut down will cause you a lot of inconvenience!

However, don’t transfer money to yourself and don’t set up 2 accounts in your name and transfer money between them.  If you do that, you risk freezing your account and the money in it!

My suspicion is that it is unprofitable for banks to continue to award miles for using debit cards with payment transfer services, so I wouldn’t expect this to continue for long.

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15 responses to “My Experience Using Venmo with Debit Cards

  1. Are both of those cards hard to set up and transfer money into/out?

  2. I’ve had no problems with my delta so far. It was easy to setup.

  3. @Grant @David0603 – Venmo lets you add only 3 debit cards to your account unless you email them and send the extra information they request, but it is easy to add accounts online.

  4. Is Venmo open for all now? I remember asking someone online for an invite/referral months ago but did not get a response then. So I gave up. Also, if I don’t have a smart phone, would it still work? I have an Ipod Touch though. And also have a phone with text capabilities.

  5. Does this have to be a debit card ?? Or can you do the same process with a credit card ?

  6. Thanks, do you see an issue with using this to pay for babysitting?

  7. @HSinAz – I believe it is open to all!

    @Jerry
    – There is a fee for using a credit card which usually isn’t worth the miles/points earned.

    @Becky – That sounds like a very legitimate transaction!

  8. Do you have any idea why BofA dropped the US Air debit card but maintains the Alaska card?

  9. @Ian - Perhaps because Barclays issues the primary US Air credit card.

  10. Would it be worthwhile to open one of those debit cards specifically to take advantage of Venmo? Which would you recommend? (I’m new to the miles game; my gold ring is trips to Israel, but I’d also like to have general big travel for small money!)

  11. @Becky – Only you can tell if it is worth opening a bank account for the miles. Alaska Air offers half the amount of miles as the Delta credit card, so it could be easier to use the Delta debit card. But Delta miles aren’t the easiest to redeem.

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  15. Do you have an updated version of this post? I have been reading that ST delta does not award miles on venmo purchases anymore.

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