Venmo, the massively popular peer-to-peer money payment app launched in 2009 and now owned by PayPal, has taken the country — and especially its college-age crowd — by storm. Venmo users can send payments to each other for free with just a name or phone number, obviating the need for usernames and passwords. It's quick, easy, and more often than not, entirely cashless.
With millennials increasingly shunning cash payments in favor of digital transactions, finding new ways to pay friends back has become commonplace. Some people still use cash for payments like rent and bills, but more often than not everything can be paid via Venmo or other mobile payment apps.
Currently, Venmo offers users the ability to cash out their payments into a bank account or have the funds directly transferred to a credit card for a small fee.
Venmo has become a safe, transparent, and easy way for anyone to transfer money whether paying a roommate for your share of this month's rent, paying friends for dinner and a movie, or receiving money from your parents.
Although there are many scammers online boasting about ways to get free money on Venmo there's truly only one way (outside of taking advantage of Venmo's user referral program). It's 100% legal and it's dead simple to do.
All you have to do is use the Yotta debit card as the source of funds whenever you make a transfer on Venmo. With the Yotta debit card every single purchase has a chance to be immediately reimbursed with Yotta's "Lucky Swipes" feature. This works at any store online or in person, but many aren't aware that this debit card perk also works on Venmo.
How it works
- Tap the "☰" icon at the top of the app
- Under “Settings," tap “Payment Methods”
- Tap “Add bank or card...” and then tap “Card”
- Add your card information manually for the virtual debit card.
- Be sure to have a $0 Venmo balance so that you are able to use a debit card as the payment method. To do this simply transfer your balance back to your connected bank prior to sending a Venmo payment.
Whenever you make a payment on Venmo select your Yotta card as the source of funds and you'll immediately be eligible to have your payments be reimbursed.
Why does this works?
Venmo processes payments using debit cards as purchases, which is why these rewards are available similar to any other debit card purchase you make. They do not charge a fee to use a debit card as a payment method.
Other Yotta debit card perks
- At least 1 in 500 odds your purchase is immediately reimbursed by Yotta
- 1 in 100 odds for in-person restaurant purchases
- 10% tickets back into weekly cash prize drawings for up to $10 million
- 1,000 bonus tickets after you spend your first $2,000
- Premium metal card when you refer 10+ friends
- 55,000+ fee-free ATMs in the US
- Make cash deposits at 90,000+ locations
- No foreign transaction fees
- MasterCard Zero Liability protection
- Lock your card any time from in the app
- Instant transaction alerts
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