When going out with friends sometimes it is a lot easier to just be on the same check instead of splitting up the bill. But what if you don’t have cash? That’s where apps like Venmo and Cash App come in.
There are two methods for sending money from Venmo to Cash App, they are linking a mutual bank account and creating a direct deposit for your Cash App account.
Keep reading to learn all about Cash App, Venmo, and how to get money from one account to another.
What is Venmo?
Venmo is an app, that is available on both android and apple devices, that allows the account owner to send and receive money from friends, family, or any other Venmo member.
Venmo can be used in many different ways, such as:
- Sending your roommate rent
- Paying your sister for lunch
- Receiving money for dinner that you split with friends
As well as many other things where you might need to be sent some money.
How Do You Get a Venmo Account?
You have to have an active mobile phone number, and the account has to be linked to a funding source, such as your bank account.
When someone sends you money, it goes into your Venmo balance.
This balance can be used for future purchases, or it can be sent to your bank account.
But Venmo isn’t the only app that you can use to send and receive money. There are many others, like Cash App.
What is Cash App?
Cash App is very similar to Venmo, as it is an app that lets you send money back and forth to people who also have a Cash App account.
This money stays in your Cash App account until you either use it or transfer it out.
With the Cash App, similar to Venmo, you can send and receive money from anyone who also has an account with Cash App.
You can also use different options in the app to invest.
The Cash App app also has different options available to help parents keep track of their children’s money, as well as auto-invest options to help anyone start saving,
How to Send Money from Venmo to Cash App.
Is sending money from Venmo to Cash App simple? Yes, it can be.
Sending money from Venmo to Cash App can be done in two simple ways, creating a direct deposit through Cash App or by linking a mutual bank account on both platforms.
Keep reading to find out how to set up either direct deposit with Cash App or how to add mutual bank accounts to both apps.
Linking Mutual Bank Accounts
Adding the same bank account to both of the apps is going to be the easiest way, but it will also require a little more shuffling of money.
This way requires you to set up a bank account with Venmo and transfer whatever money you want to this bank account.
Then you will send this money to your Cash App from the bank account.
Here are the simple steps for transferring your balance from Venmo to your Bank account:
- Add the bank account that you want to be connected to both accounts and go through the verification process
- Now that the bank account is verified, transfer the money in your Venmo to your Bank account
- Fill out all the information for how much you want to be transferred and where you want it transferred to
- Hit the transfer button
- The money will show up in your bank account in 1-3 business days, depending on your bank
Now that the money is in your bank account, simply transfer however much you want into your Cash App.
Creating a Direct Deposit for Cash App
Creating a direct deposit for your Cash App can be done in the app by following these steps:
- Open the Cash App app on your phone and go to the tab with the dollar sign ($)
- Click on the option for Get Account Number
- Once you enable the account, you will see your account details
- Copy the information into your Venmo.
Once you have copied the account number and routing number, paste them into your Venmo account.
You will now be able to transfer money directly into your Cash App from Venmo.
Having apps on your phone that allow you to directly send or receive money from friends and family makes life so much easier these days when no one carries cash.
Getting money from one app to another can be done in one of two simple ways, either mutual accounts or direct deposit through Cash App.
Hopefully, this guide answered your questions, and you are now better equipped to handle these apps!