Venmo is a peer-to-peer mobile payment service that allows users to transfer funds to and from their bank accounts or debit cards. It has gained popularity in recent years, especially among millennials and Gen Zers, who use it for various transactions such as splitting bills, paying rent, or buying goods and services online.
One of the frequently asked questions about Venmo is whether you can cash out your balance at Walmart. In this comprehensive guide, we will explore the answer to this question in detail.
What Is Walmart?
Walmart is a multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores worldwide. It is one of the largest retailers in the world by revenue and employee count. Walmart offers a wide range of products and services such as groceries, electronics, clothing, furniture, pharmacy, money transfers, and financial services.
Can You Cash Out Venmo at Walmart?
The short answer is no; you cannot cash out your Venmo balance directly at Walmart. Venmo does not offer a cash withdrawal feature at any retail store or ATM. However, you can use your Venmo balance to make purchases online or in-store wherever PayPal is accepted.
Venmo is owned by PayPal Holdings Inc., which acquired it in 2013. PayPal has its own cash withdrawal feature called PayPal Cash Plus that allows users to withdraw funds from their account either through an ATM or participating retailers such as Walmart.
Therefore, if you want to cash out your Venmo balance at Walmart, you have to transfer it first to your linked bank account or debit card and then withdraw it via an ATM or point-of-sale terminal at Walmart using your PayPal Cash Card (a debit Mastercard issued by Bancorp Bank). The card can be ordered for free through the PayPal app after verifying your identity.
How to Transfer Your Venmo Balance to Your Bank Account or Debit Card?
To transfer your Venmo balance to your bank account or debit card, follow these steps:
- Open the Venmo app on your mobile device.
- Tap on the three horizontal lines in the upper-left corner of the screen to access the menu.
- Select "Transfer to Bank" or "Transfer to Card" depending on your preference.
- Enter the amount you want to transfer and select the destination (bank or card).
- Confirm the transaction by reviewing the details and tapping "Transfer Now."
Note that there may be a fee for transferring funds from Venmo to your bank account or debit card, depending on your bank’s policy.
How to Withdraw Your PayPal Balance at Walmart?
If you have transferred your Venmo balance to your linked PayPal account and ordered a PayPal Cash Card, you can withdraw it at Walmart using any of these methods:
1. Point-of-Sale Terminal
You can use your PayPal Cash Card at any Walmart store that has a point-of-sale terminal (usually near the checkout counters) to withdraw cash up to $500 per day at no charge. Here’s how:
- Swipe or insert your PayPal Cash Card into the terminal.
- Enter your four-digit PIN (personal identification number).
- Select "Cash Withdrawal."
- Enter the amount you want to withdraw (up to $500).
- Accept any fees displayed on the screen (there are no fees for withdrawals made at Walmart but may be for other retailers).
- Collect your cash and receipt.
You can use any ATM that displays either of these logos: Plus, NYCE, MoneyPass, or Star to withdraw cash up to $400 per day (plus any surcharge fee imposed by ATM owner). Here’s how:
- Insert your PayPal Cash Card into an ATM that accepts it.
- Enter your four-digit PIN.
- Select "Withdrawal" or "Cash Withdrawal."
- Enter the amount you want to withdraw (up to $400).
- Accept any fees displayed on the screen.
- Collect your cash and receipt.
3. Walmart Money Center
You can also visit a Walmart Money Center (usually located inside Walmart stores) to withdraw cash up to $1,000 per day for a fee of $3 per transaction. Here’s how:
- Bring your PayPal Cash Card and valid government-issued ID (such as driver’s license or passport) to a Walmart Money Center.
- Tell the cashier that you want to withdraw cash from your PayPal account.
- Provide your PayPal Cash Card and ID for verification.
- Sign for the transaction and collect your cash and receipt.
Note that there may be daily, weekly, or monthly limits on cash withdrawals depending on various factors such as location, card type, account status, and regulatory requirements.
In summary, while you cannot directly cash out your Venmo balance at Walmart, you can transfer it to your linked bank account or debit card and then use PayPal Cash Plus feature to withdraw it at Walmart either through a point-of-sale terminal, ATM, or Walmart Money Center using your PayPal Cash Card.
Venmo is a convenient way to send and receive money but does not offer physical access to cash like some other payment systems do. Therefore, if you need quick access to cash from your Venmo balance at Walmart or other retailers, consider linking it with a PayPal account and ordering a PayPal Cash Card in advance.
We hope this guide has been helpful in answering your question about whether you can cash out Venmo at Walmart. If you have any further questions or feedback, please let us know in the comments section below!
Can I cash out Venmo at Walmart?
Yes, you can cash out Venmo at Walmart.
How do I cash out Venmo at Walmart?
To cash out Venmo at Walmart, you need to add your Venmo account information to the Walmart app and then follow the steps to transfer the funds.
Is there a fee for cashing out Venmo at Walmart?
Yes, there is a fee of $1.50 for each transaction when you cash out Venmo at Walmart.
What is the maximum amount I can cash out from Venmo at Walmart?
The maximum amount you can cash out from Venmo at Walmart is $500 per day.
Can I use my phone number to cash out Venmo at Walmart?
No, currently you cannot use your phone number to cash out Venmo at Walmart. You need to add your account information to the Walmart app first before transferring funds.
Are there any time restrictions for cashing out Venmo at Walmart?
Yes, there are time restrictions for cashing out Venmo at Walmart. You can only transfer money between 9 AM and 8 PM local time.
Can I cancel a transaction after I have initiated a transfer from my Venmo account to my Walmart account?
No, once you have initiated a transfer from your Venmo account to your Walmart account, it cannot be canceled or reversed.
How long does it take for funds to be transferred when using the Cash Out feature with Wal-Mart and PayPal
Funds typically become available within 10 minutes if the transaction is successful and there are no issues with your bank linked to PayPal or Wal-Mart Transfer Services.
Can I use the cash out feature on Venmo for any transactions other than those with Walmart?
Yes, you can use the Cash Out feature on Venmo for transactions with other merchants as well.