The Venmo Card Agreement: Everything You Need to Know

Venmo, the popular payment app, offers a Venmo Card that allows users to access their Venmo balance for in-store purchases and ATM withdrawals. But before you activate your card, it`s important to understand the Venmo Card Agreement.

What is the Venmo Card Agreement?

The Venmo Card Agreement is a legal document that outlines the terms and conditions of using the Venmo Card. It covers topics such as fees, transactions, liability, and dispute resolution. By activating your Venmo Card, you agree to these terms and conditions.

What are the key terms of the Venmo Card Agreement?

Here are some of the important terms you should be aware of before activating your Venmo Card:

Fees: There are no monthly or annual fees for the Venmo Card. However, there are fees for certain transactions such as ATM withdrawals and foreign currency transactions. Make sure you understand these fees before using your card.

Transactions: You can use your Venmo Card to make purchases wherever Mastercard is accepted. You can also withdraw cash from ATMs that accept Mastercard. However, there are limits on the amount you can withdraw and spend per day.

Liability: If your Venmo Card is lost or stolen, you should immediately report it to Venmo. If unauthorized transactions occur before you report the loss, you may be liable up to $50. If you report the loss within 2 business days, you will not be liable for any unauthorized transactions. If you report the loss after 2 business days, you may be liable up to $500.

Dispute resolution: If you have a dispute with a merchant, you should first try to resolve it directly with the merchant. If you can`t resolve the dispute, you can file a dispute with Venmo. Venmo will investigate the dispute and make a decision within 10 business days.

How do I activate my Venmo Card?

To activate your Venmo Card, follow these steps:

1. Open the Venmo app

2. Tap the three lines in the upper left corner

3. Tap “Venmo Card”

4. Tap “Activate Card”

5. Follow the prompts to finish activating your card

Once your card is activated, you can start using it for purchases and ATM withdrawals.

In conclusion, it`s important to read and understand the Venmo Card Agreement before activating your card. Make sure you are aware of the fees, limits, and liability in case your card is lost or stolen. By being informed, you can use your Venmo Card with confidence and ease.