Yes, Chime does work with Venmo and you can transfer money from Chime to Venmo or the other way round.
Chime is a popular online-only financial institution that offers fee-free banking services including a checking account with virtual debit card and also, a Spot Me feature that lets users borrow money from the platform.
Venmo, on the other hand is a popular P2P payment services that lets users send and receive money online with all security and convenience.
Venmo works with most banks, but however, Chime users are wondering does Chime work with Venmo since Chime is an online-only FinTech company.
If you're wondering how to transfer money from Chime to Venmo and the other way round, keep reading.
To help you out, I've compiled the best way to link Chime to Venmo and transfer money between both apps.
Table of Contents
Does Chime Work With Venmo?
Yes, Chime does work with Venmo, but in most cases, it cannot be done directly.
This means, some users cannot directly link their Chime account to Venmo through an option or feature that lets them do so.
Once you link Chime to Venmo, you'll be able to transfer money from Chime to Venmo or from Venmo to Chime.
How to Link Chime to Venmo
There are two ways to link your Chime bank account to Venmo; — linking the Chime account directly (in the case where it displays) or using a Chime debit card.
You need to link directly to your bank account if you intend to send and receive payments or pay with apps.
You can add a debit card or credit card if you solely intend to send money or make payments through applications.
However, there is a 3% transaction fee if you pay with a credit card.
There are no fees associated with using a debit card or connecting directly to your bank account.
That said, let's look at each method in details.
1. Linking Chime to Venmo Using a Chime Debit Card
Open the Venmo app and tap the "Card" tab.
You'll then need to provide your card number, expiration date, security code, and associated zip code.
After providing the necessary information, click "Add" to complete the card addition.
Venmo will try to verify the account by transferring a meager $1 after your card has been added.
You must make sure there is money in your Chime account or you risk paying an overdraft fee.
2. Linking Chime Directly to Your Venmo Account
Click "Bank" to connect your Chime bank directly to your Venmo account, then select either Manual Verification or Instant Verification.
The ideal option for the majority of users is instant verification because it instantly verifies your account and simply needs you to check in to your Chime account.
You may, however, choose to use manual verification if you'd like.
Your Chime Bank account number is required, and verification may take up to 3 days.
In case you don't see Chime as a bank listed, you can add your Chime account to Venmo by using the account and routing number.
We'll presume that you choose Instant Verification for the purposes of the remaining sections of this guide. A service called Plaid manages this procedure.
A few disclaimers will be presented to you, and you should click Continue.
The next step is to choose your bank. With your email address and password, choose Chime and sign into your account.
How to Transfer Money from Chime to Venmo
Nothing else needs to be done in order to transfer money from Chime to Venmo once your account has been linked to Venmo.
Log into the Venmo app and select the blue "Pay or Request" button at the bottom to send money to someone or request it from them.
The final step in using Venmo is to decide who you want to send money to or request money from.
How to Transfer Money from Chime to Venmo Without a Debit Card?
To transfer money from Chime to Venmo without a debit card, you'll need to use the second option for linking Chime to Venmo which has been shown above by providing your Chime account and routing number to Venmo.
Once your Chime account is linked to Venmo, you can follow the normal process for sending money to transfer money from Chime to Venmo without a debit card.
How Long Does It Take to Transfer Money from Chime to Venmo?
You might be wondering how long it takes for money to transfer from Chime to Venmo now that your accounts for both services are linked.
Whether you have linked your accounts using a debit card or a bank link will determine the answer (routing and account numbers).
Transfers into Venmo are nearly instantaneous if linked via a Chime debit card.
If a Chime bank account is used, it may take up to 5 business days for transfers to reach Venmo.
Given the foregoing, linking through debit card is clearly preferable due to the flash money transfers into Venmo.
How to Transfer Money from Venmo to Chime Account
Click the hamburger menu symbol in the top right corner of the app then, near the top, click on Transfer money to transfer money from Venmo to your Chime account.
Choose the amount and whether you want the transfer to take place instantly or within 1-3 business days from Venmo to your Chime account.
A 1.5% fee and a $15 transfer cap apply if you select instant transfer. There are no restrictions or costs if you select 1-3 business days.
How Long Does Venmo Take to Transfer to Chime?
Depending on the transfer option you choose, the time it takes for your money to get from Venmo to your Chime account may vary.
If you select Instant transfer, a maximum of $15 will be immediately available in your Chime account.
Your transfer will normally take 1 to 3 business days to become available in your Chime account if you select 1-3 biz days.
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Are There Fees for Using Venmo With Chime?
Using Chime with Venmo involves the following fees:
- When you withdraw funds from Venmo to your Chime account and request an instant transfer, you will pay a 1.5% fee.
- If you use a credit card with your Venmo account to pay for something or to send someone money, you will pay a 3% fee.
- If you deposit a payroll check or government check into your Venmo account, you will pay a 1% fee with a minimum fee of $5.
What is Venmo to Chime Instant Transfer?
Venmo to Chime instant transfer lets you transfer funds from your Venmo account to your Chime account if you have a balance.
Does Chime Work With Venmo Instant Transfer?
Generally speaking, Venmo instant transfer will work well with your Chime Bank account. However, keep in mind that there is a $15 maximum for quick transfers and that there is a 1.5% transfer fee.
That being said, if you linked your accounts using a debit card, you will have the following options for transfers:
- A 1.5% instant transfer fee must be paid, but the transfer just takes a few seconds to complete. Or,
- Standard transfer, which is cost-free but takes 1-3 business days to complete. You won't have access to the 1.5% Instant Transfer option if your accounts were linked through bank accounts. You only have the basic transfer option, which takes 1-3 business days.
Does Chime Card Work with Venmo?
Chime Card does indeed work with Venmo.
Click on the hamburger menu button in the top right corner of the app to use your Chime card with Venmo.
Next, select Payment Methods and Settings. Select Card, then Add a bank or card. Click Add after entering your Chime Card information.
What is the Chime to Venmo Transfer Dollar Limit?
You should be aware of the transfer limits that exist in Chime and Venmo if you are working with high currency amounts.
The weekly transfer cap for Venmo is $20,000. Only $1,500 can be transferred in per week.
Chime restrictions: You may withdraw up to $2,500 each day. There is no cap on transfer in.
If you need to transfer amounts more than those listed above, you might need to spread them out across several days.
Does Chime Credit Builder Work with Venmo?
Chime offers a secured credit card called Credit Builder. The card works exactly like any other credit card.
And yes, the Chime's Credit Builder work with Venmo. Simply select the option to Link Credit Card when linking accounts.
Is Venmo Safe to Use With Chime?
Yes, using Venmo with your Chime account is generally safe.
However, like with everything online, you should exercise caution and keep your login details and security codes to yourself.
In most circumstances, Venmo is just as safe as any other online payment system because it is owned by PayPal.
What If I Have Problems Using Venmo With My Chime Account?
It could be a number of things if you're having trouble using Venmo with your Chime account.
Contacting customer service for each is the best and most efficient approach to learn what the issue is and how to fix it.
Chime Customer Support
The number 1 (844) 244-6363 is the easiest way to get in touch with Chime customer service.
Venmo Customer Support
The best way to get in touch with Venmo customer service is to dial (855) 812-4430.
Final Thoughts: Does Chime Work With Venmo
Chime and Venmo are two booming financial apps that offer money management and transfer facilities in this modern world.
Chime works with Venmo and you can link Chime to Venmo in two ways as mentioned above.
Once linked, you can follow the step by step process in the above lines to transfer money between both apps.
Frequently Asked Questions
Does Venmo support Chime?
Yes, Venmo supports Chime as a bank and you can link Chime to Venmo through your Chime debit card or through the Chime account and routing number.
How can I transfer money from Chime to Venmo?
Link your Chime debit card to Venmo and start transferring money between Chime and Venmo.