Does Venmo Register Foreign Cards?

Updated Jan 26, 2022

5 Ways to Pay Someone with a Credit Card

Credit Cards

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At that place are varying reasons you might want to pay someone with a credit carte du jour. For example, perhaps you're sending money domestically or internationally to a friend or family unit member.

Another reason to explore paying someone with a credit card could be to buy something from an independent seller, or maybe you demand to pay someone who's done work for you.

This could include someone who did in-person work, such as a domicile contractor, or someone who's done online piece of work for you or your business, such as a freelancer.

In the past, the principal way to send money quickly to some other person was the utilise of wire transfers, just a wire transfer tin can be costly.

You also accept to provide quite a fleck of information most the person you're sending money to, and that might not be realistic for your situation.

When you're looking for ways to pay someone with a credit menu, yous'll need to consider fees and transfer speed, along with other factors such as the maximum transfer corporeality allowed.

Today I'm going over v ways to pay someone with a credit card, only offset I'one thousand going to talk about the pros and cons of paying someone with a credit card.

Note: If you take credit cards with high credit limits, yous may similar this $one,000-per-hour side hustle.

Pros of Paying Someone with a Credit Carte

If you're thinking about paying someone with a credit carte, there can be good reasons to do then.

1. Credit Card Rewards

I reason y'all might want to pay someone with a credit carte is to earn greenbacks back or miles on your card, or perhaps meet the spending requirements for a sign-up bonus.

2. Fraud Protection

If you're thinking nearly paying someone, particularly if it'due south a situation where you don't know the person, you lot may be worried about fraud.

If you lot use a credit card, the issuer is likely to accept protections in place to safeguard against fraudulent transactions, and you may take dispute rights.

On the other hand, if yous pay someone from a bank account or using a debit card, yous may only accept the protections offered past the payment platform itself, which are limited.

Some banks will say that if you sent the coin, you're responsible for the transaction. It's more difficult to go cash dorsum afterward you send it from a depository financial institution account or using a debit menu, equally compared to disputing a credit card charge.

3. Emergency Coverage

If you're facing an emergency or an unexpected situation requiring you to transport money to someone, y'all may not have the bachelor cash to practice so right at present.

In this example, a credit carte may be your only selection.

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Cons of Paying Someone with a Credit Card

Of grade, there are several downsides of paying someone with a credit card to be aware of before launching this type of transaction.

1. Fees

In that location are some ways you might terminate up paying fees if yous pay someone with a credit card.

First, most payment platforms and payment services providers volition charge a fee of typically effectually three% if you're sending money with a credit card.

Then, on top of that, you may have to pay a cash accelerate fee to your credit card issuer, and the interest they charge may be college on a greenbacks advance than on normal purchases.

If you're using a credit menu because y'all desire to earn rewards, you might find that the fees you pay are more than the value of the rewards you earn, so you have to practice the math.

And of course, if you were to use a bank account or debit card rather than a credit carte, you would pay no fee at all on many payment services apps and platforms, so keep that in mind.

ii. Limited Service Providers

Many payment service providers don't let you utilize a credit card to send money at all, so you have fewer options, which may mean yous're forced into paying higher fees or using a service you wouldn't employ otherwise.

3. Higher Exchange Rates

If y'all're sending money internationally and employ a credit card to do so, y'all may pay unfavorable exchange rates, whereas if you sent coin using greenbacks or a bank business relationship, you may go more competitive rates.

5 Ways to Pay Someone with a Credit Menu

Alright, so now that I've covered the pros and cons of paying someone with a credit card, I'll now go over v ways to pay someone with a credit carte du jour.

Venmo

- Basics: Venmo is often described equally a social network for sending money. You can add your friends to your Venmo account, and you lot tin can too meet their transactions through your feed, although you lot can't come across the exact amounts.
  You can make free Venmo transfers if you're using your bank business relationship, the balance you lot hold in your Venmo account, or you apply a debit carte du jour or prepaid debit carte. But if you pay someone with a credit carte du jour through Venmo, at that place'due south a 3% fee.
  
  There aren't any protections for you as a buyer or seller through Venmo. The fact that Venmo does allow you utilise a credit menu to pay people makes it different from Zelle, which is Venmo's primary competitor.
  
  To send money with Venmo, both you lot and the person y'all're sending it to need an account.
- Pros: The fact that Venmo lets yous employ a credit card to pay people is a big pro, compared to like platforms. Y'all may like that Venmo is a socially driven way to send money, and if you're receiving whatever payments through the app, they're always free.
- Cons: To use a credit carte to transport money on Venmo, you'll pay a 3% fee. Besides, with the Venmo user agreement, your credit menu issuer may handle a transaction using a credit carte as a greenbacks advance, which could mean yous pay some other upfront fee and a higher interest rate on that charge.
  If y'all want to use Venmo equally role of your strategy to max out credit card rewards, there is a limit on the number of credit and debit cards yous can have linked to your account inside a six-month period. Within six months, you can't take any more than 4 cards, agile or deleted.
- FEE
  3%
- TRANSFER SPEED
  Commonly inside one business twenty-four hours
- MAXIMUM TRANSFER
  • Weekly rolling limit of $2,999.99 for sending coin through Venmo.
  • $two,000 weekly limit per transaction for merchant payments.
  • There's besides a weekly rolling limit of $4,999.99 for all combined transactions.

PayPal

- Basics: PayPal is ane of the well-nigh commonly used means to send money, and information technology'due south extremely convenient. When yous initiate a PayPal transaction, y'all verify your account, and so the transfer is usually complete within one business solar day.
  You tin can use a debit or credit card, also as your PayPal balance or a bank business relationship to ship money to friends or family. You can also send coin internationally in more than than 100 currencies.
- Pros: Using PayPal is simple and most people already have an account. You tin can do international transfers, and the recipient doesn't encounter your financial information when you consummate a transaction through the platform.
  If you lot purchase something through PayPal, including a skilful or service, you too get purchase protection in case fraud occurs.
- Cons: To use both a debit and credit card to send money using PayPal, you exercise have to pay a fee of 2.ix% in addition to xxx cents of the amount.
- FEE
  2.9% plus $0.30 of the amount
- TRANSFER SPEED
  Within one business day
- MAXIMUM TRANSFER
  $10,000 per transaction

Cash App

- Basics: With the Foursquare Cash App, you can transfer funds using a linked credit card for a iii% fee.
  The Greenbacks App is only bachelor in the 50 United States.
- Pros: The Square Cash App is relatively easy to use and offers the option to transfer money immediately, so if you're in a bind, this could be preferable for you.
  Fraud protection features include a Security Lock setting on the Cash App, and at that place is a weekly spending limit of $ii,500 only no receiving limit after you verify your account.
  
  If you're using Cash for personal apply, there'south no fee to send or receive funds from a bank account or debit card.
- Cons: You lot can't use the Cash app to send money internationally, and the 3% fee to use a credit card to transport money to someone is slightly college than Paypal's.
- FEE
  3% to use a credit card and one.5% to brand an instant deposit
- TRANSFER SPEED
  Instant or up to three days
- MAXIMUM TRANSFER
  $ii,500 a week, later on verifying your personal data

Western Matrimony

- Basics: Western Union is the world's largest money transfer services provider. Western Spousal relationship'south reach expands over more 200 countries, and they also offering a significant amount of diverseness in the different means you can make transfers.
  To utilize Western Union, y'all can register online for an account, and use your credit or debit card that's issued past a U.Due south. banking company to send money that tin and then be picked upwards equally greenbacks. You tin also opt for cheaper and slower delivery of funds.
- Pros: With Western Union, the master perk of the service is that yous tin can send money substantially anywhere in the world. However, the transfers to developing countries often have lower fees and better exchange rates than sending money to developed countries.
  If yous want to transport money to somewhere like Canada or a state in Europe, it may exist better to use another service.
- Cons: While the fees vary based on different factors, Western Union is almost always ane of the most expensive ways to send money. If you employ a credit card, your transaction volition probable exist categorized as a cash advance, so you lot'll pay not merely a fee to Western Union just besides higher involvement to your bill of fare company.
- FEE
  Varies depending on the blazon of transaction and the amount of money being sent, equally well equally where it'southward being sent
- TRANSFER SPEED
  Varies from instant to the side by side mean solar day or several business days
- MAXIMUM TRANSFER
  $10,000 per transaction

Wire Transfer

- Basics: Depending on your bank, yous may be able to send money with a credit card using a wire transfer. A wire transfer or a bank transfer is a rubber and reliable pick, as long as you're sending the money to someone you lot're comfortable with.
  A wire transfer means you're electronically transferring coin. Most wire transfers are banking company-to-bank.
  
  To wire coin, you would provide your depository financial institution with data about the recipient of the funds, and you may have to fill out a form provided by your bank, just yous might also exist able to do information technology online. There are fees to both transport a receive a wire transfer, and if your bank lets you use your credit carte du jour, you'll have to pay cash advance fees too.
- Pros: The pros of going through your bank to pay someone with a credit card includes the overall safety of the process. A bank wire transfer tin can exist especially rubber if you're sending funds to someone in the U.Southward. because it'south difficult to bank anonymously.
- Cons: The cons of a bank wire transfer are the high costs. The fees you'll pay to transport coin using a credit carte through your bank may be more than what yous pay using a payment app in some cases.
- FEE
  Depends on the banking company
- TRANSFER SPEED
  Tin can happen same-day, only information technology may have two business days for funds to be available to the recipient
- MAXIMUM TRANSFER
  Depends on the bank

Frequently Asked Questions

What apps can you use to pay someone with a bank account or debit card?

If you've washed the math and decided you lot'd rather pay someone with a bank account or debit menu, you lot can use the options detailed above, just you also have admission to other options.

For example, you tin can utilise Apple Pay, which relatively recently discontinued person-to-person credit carte payments merely yet lets y'all use debit cards to pay someone. If you lot accept iPhone using Apple tree Pay is incredibly easy, and you just need to use the Apple tree Pay button in a text conversation.

Zelle is another pick that's similar to Venmo but doesn't allow for credit bill of fare transactions. Equally long every bit the person you're sending money to has Zelle, yous can transport them money in only a few minutes.
Are the fees to pay someone with a credit carte worth it?

If you're wondering whether the fees are worth it to send coin using a credit card, yous need to sit down downward and crunch the numbers. If you're paying a three% fee and y'all're sending a significant amount of money, the fees can add together up quickly.

Most credit cards have advantage rates around one-2%, so paying a 3% fee isn't going to overset itself in rewards.
Can Yous send money using a credit carte du jour on Facebook?
Facebook Messenger has a service that lets users send money to someone else direct with a PayPal account or a debit bill of fare. However, you can't use Facebook Messenger to send money with a credit carte currently.
What is a credit carte cash advance?

The concept of a cash advance fee was mentioned several times to a higher place, and substantially what this is is a way for you to apply your credit card and get a cash loan either at your banking company or at an ATM. Most cash advances are limited only to a few hundred dollars at a fourth dimension, and some cards will accuse a flat fee for a cash accelerate, commonly ranging from $v to $10.

Other banks will charge a percentage of the corporeality y'all receive, and this tin exist as high as 5%.

There may also be ATM or bank fees depending on how you access the cash, and the interest rate for a greenbacks advance is going to be higher in almost all cases than the rate you lot pay on purchases.

Cash advance interest also starts accruing right away without a grace flow every bit you get with purchases.

Due to the loftier costs, cash advances are only recommended when you're in a serious situation with no other option.
How long does it take to send money to someone?

The time it takes to ship money to someone using a credit card or any other blazon of funding depends on the platform you lot're using, where you lot're sending the money and other individual factors. Some services are instant, so every bit soon equally you send it, the recipient has access to the funds.

Other services tin can accept a few business days up to a week, and this doesn't always include how long it takes the money to clear in the recipient's bank account.
How can you avoid scams when you're sending coin?

Anytime you lot send coin if you lot're sending it to someone y'all don't know and sometimes fifty-fifty if yous practise know them, there can exist a chance of fraud and scams.

One of the most common ways scammers proceeds access to funds is by asking someone to consummate a wire transfer.

You take to be very cautious nearly sending money, specially overseas because one time you lot send the funds, it'due south going to exist tough to practice annihilation with your merits and a foreign government isn't probable to get too involved.

With a money transfer, if y'all're the victim of fraud, there is very piffling likelihood of you getting the funds back.

If yous are in a state of affairs where you take to send money to someone you haven't met in person, send it in pocket-size increments rather than all at one time.

You should also ensure you're using a reputable service.

With payment apps like Zelle and Venmo, your options for dealing with fraud tin can vary. For instance, if someone gains access to your bank business relationship and then makes a fraudulent payment, you can study it as unauthorized activity, and oftentimes you tin can get your money back if y'all report what happened.

However, if you're tricked into sending coin to someone and it turns out to exist a scam, information technology's going to exist more difficult to get your coin back because you authorized the transaction.

Author:

Ashley Sutphin Watkins

Ashley is a graduate of UNC-Chapel Hill where she studied journalism. She has worked every bit a journalist, content creator, and copywriter for almost a decade, with a focus on personal finance, real estate, and healthcare. She at present lives in Knoxville with her husband and young kids. During her gratuitous time, she enjoys traveling and enjoying the outdoors in Due east Tennessee.

Reviewer:

Logan Allec, CPA

Logan is a practicing CPA and founder of Pick Tax Relief and Money Done Right. Later on spending nearly a decade in the corporate world helping large businesses save money, he launched his blog with the goal of helping everyday Americans earn, save, and invest more coin. Acquire more nigh Logan.