How to Enable Venmo Direct Deposit? Get Paid Early 2020
As being an employee, you might always crave to get paid on time from your employer. If you have been getting paid through a bank account for the past a few months like many other millions of people in the US, you must be aware of the fact that traditional ways of receiving payments are no longer relevant. If the truth to be told, payment through bank accounts are no longer considered fast and safe. In this digital age, this is the era of direct deposit. More specifically, Venmo direct deposit. Yes, now you can do more with your favorite payment app– Venmo.
What is direct deposit service on Venmo?
In case you don't know, be informed that Venmo is owned by a giant brand name in the world of online payment apps which is PayPal. And needless to say that Venmo is quite popular in the US as it allows the users to send, receive, spend, and store money online for free. But, what's a less known fact about Venmo is its immaculate direct deposit services. Yes, you might be surprised but the fact is Venmo supports the direct deposit service.
So, say goodbye to all those troubles such as delay in paycheck withdrawal, interruptions, and discrepancies in the payments. For hassle-free payment experience and to get paid 2 days early, all you have to do is just enable the direct deposit on Venmo. Plus, it is totally free from setting up a direct deposit to receiving payments every month.
Before everything else, if you are not a great fan of reading, you can contact us for free consultation over the phone. Or else, take a minute to read this Venmo helping post.
As when I realized that many people don't have an idea about how to activate Venmo direct deposit service, I thought it would be a great idea to write on enabling direct deposit service on Venmo. So, to help you understand all about it, as we always do, let's put first thing first.
Can you use Venmo for direct deposit?
Yes, of course, any verified person who uses Venmo as a personal payment app, he/she can use Venmo for direct deposit. Also, it is worth noting that from direct deposit on Venmo, I mean you can use it to receive your monthly salary from your employer, tax refund from IRS, stimulus checks, and so on.
Can I use Venmo direct deposit to get my stimulus check early?
You will be glad to know that the IRS and almost all other federal agencies support Venmo for sending a broad range of payments. All you have to do is just share some of the Venmo details such as Venmo direct deposit bank name, routing number, and account number. All of these details are easily accessible right on your Venmo payment app.
Some of you might be wondering– how to deposit a check on Venmo? Here is the answer. The fact is you don't have to deposit any of your paycheck. What you have to do is just go through your Venmo account and follow the steps which I have mentioned in the next section.
How do I enable Venmo direct deposit?
Here comes the most exciting part of this post. As we are going to find out– How to set up direct deposit on Venmo? So, what I have personally liked about enabling direct deposit service on Venmo is the fact that all the steps are quite simple and straightforward. If you don't believe me, have a quick look at them and decide whether they are simple or not:
- Open your Venmo app on your phone.
- Now select three horizontal lines which, actually, is a menu tab.
- Then, scroll down and select the setting option from drop the down menu.
- On the next screen, you will get the "Show Account Number" option. Tap on it.
- Right here Venmo routing number will come to your view and also the account number will be visible to you.
- Finally, to enable the direct deposit on Venmo, what you have to do is just share these details with your employer in a form.
What is Venmo direct deposit bank name & address? Good question! Here is the answer–The Bancorp Bank, 6100 S Old Village Pl Sioux Falls, SD 57108. Moreover, some of you might be wondering what time Venmo takes to process any payment through direct deposit. So, always remember that direct deposit time on Venmo depends upon when your employer deposits the funds. Once the fund is deposited, Venmo takes not more than 2-3 days to process the payment to your Venmo account.