Venmo is an American mobile payment application that is owned by PayPal. Venmo was launched in 2009 and ever since then, it has become one of the most reliable platforms for making payments in the United States.
The major aims and goal of Venmo are to enable hassle-free transactions of low amounts. With your Venmo account, you can split bills between families and friends thereby making payment easy for people.
Venmo has an in-app feature which helps you to make payments directly from your bank account if it is linked with your Venmo.
With Venmo Cash advance you can make payments or pay bills with your Venmo credit card.
However, this cash advance from Venmo comes with a fee which is considered to be very high.
According to Venmo, you are charged 5% ( min. $10) of the amount that was lent to you.
You get to pay this Cash advance anytime you fund your account.
Pros Of Venmo Cash Advance
- Easy to get. If you have a Venmo credit card, you can get a cash advance easily.
- No income verification before your Cash advance will be approved.
- Cash advance approval is instant.
- No credit checks before you can use the Cash advance on Venmo.
- Withdrawal of your cash advance is instant.
Cons Venmo Cash Advance
- Venmo has a high fee on their cash advance. 5% of the cash advance.
- You can only apply with your Venmo Credit card.
- The duration of the cash advance is very short.
- The amount you can get is small compared to other cash advance awarding platforms.
How To Get Cash Advance On Venmo
To get a Cash advance on Venmo, you need to have a Venmo credit card.
- With your Venmo credit card, work into any ATM or POS
- Insert Your Venmo Credit card into the ATM
- Enter your credit card secrete PIN
- Choose the cash advance option.
- Enter the cash advance amount and proceed.
- Your cash advance will be ready for withdrawal.
Best Alternative Cash Advance App
Getting cash advances with Venmo may involve high processing fees and interest.
However, it is better to use the cash advance app below if you need a Cash advance to complete your payments.
MoneyLion is a cash advance app that gives people cash advances till their payday. In bother to get a cash advance on MoneyLion, you need to have an account on MoneyLion before you can process your cash advance.
You can get a cash advance as little as $10 to $250 till your payday.
Earnin also gives cash advances to people who have a verified source of income till their payday.
On Earnin, cash advance approval is instant once you’ve verified your account.
They is no interest on cash advance obtained with Earnin, but you are required to pay a monthly maintenance charge for your account.
Empower is also one of the Cash advance apps that is the best alternative to Venmo cash advance.
In other to get a cash advance on Empower, you need to have an active working account with the Empower mobile app and if you don’t have an account you can easily create one by downloading the Empower app from the Google play store.
Other cash advance that is best alternative to Venmo cash advance are:
Venmo cash advance helps you to get a little cash with your Venmo credit card. The cash advance fees on Venmo is very high compared to other Cash advance apps. The amount of cash advance you can also get is very little.