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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