Are you wondering if there is an official way to get free money on Venmo?
Do you need assistance in earning money from Venmo referrals?
Well, you are in the right place. Here, we will be mentioning all the ethical ways to earn money using Venmo referral bonus schemes.
Check out the quick guide mentioned below.
Is it possible to get money on Venmo for free officially?
Venmo is a popular payment app that has been introduced by the makers of a renowned app – Paypal. Venmo is the younger brother of Paypal, which only supports money transfers in the US region only.
Venmo has grabbed a lot of users since its release. The app is very convenient to use, and you can use it for fast transactions with other users; you can even add money back to your bank as well.
A lot of Venmo users often ask a very common question. They are curious if it is possible to get money on Venmo for free. Well, we will be answering the same question right here.
Yes, it is possible to get money on Venmo for free just by following the official ways. You do not have to be unethical for that. Venmo keeps introducing various referral schemes which can be easily used to earn some money.
But, it should be kept in mind that referral schemes are not a great way to earn money. You can only get a little bit of money from these types of schemes. So, one must not have high expectations with the referrals programs.
The earned money will surely buy you a coffee and donuts, but not more than that.
And if you have made up your mind now and are ready to check out some amazing referral programs from Venmo, you are at the right place.
How to get free money on Venmo
You can check out the various referrals programs from Venmo below. At the time of writing this article, all referrals programs were active. Venmo keeps bringing the new referral programs after closing the previous ones.
We will try to update all the new referrals programs below and categorize them between active and expired.
1. $5 Log-In Rewards
The very first and easy way to get free money on Venmo is to Log-In Rewards. Using the scheme, users can get a $5 reward on logging in to the Venmo account. But the user must also be a Venmo debit cardholder.
If you are not aware of the procedure to get Venmo card, you can check out the guide mentioned below.
MUST READ: How to get a Venmo Card
Also, the process to get the rewards is pretty easy. You just need to find the email in your registered email address inbox. The mail will have your name in the subject line saying <name>, here’s $5.
But the referral bonus scheme is not available forever. According to the official statement by Venmo, the $5 Log-In Rewards will be available till August 1, 2021. The users are required to log in to the app before August 1 only. Moreover, only the first 200,000 people will be able to receive the offer.
2. $5 Sign-Up Rewards
The first Venmo referral bonus rewards scheme was for everyone. Still, there was a lesser possibility for every user to take advantage of that, as it was only available for only 200,000 people.
But, the $5 sign-up reward opportunity can be grabbed by all-new Venmo users and the users who are referring the link to them.
If you have never been on Venmo before or are about to make a new account on Venmo. You just need to ask your friend for the invite link. And on signing up from the invite link, you and your friend will receive a referral bonus reward.
You need to take care of some additional details before expecting the bonus reward to arrive in your Venmo account. The new user is required to make a minimum payment of $5 within 14 days of registering the account.
Isn’t it a good way to get money on Venmo for free?
After registering on the Cash App, you can invite more friends on Venmo to earn even more bonuses. But, there is a limitation to the maximum amount that can be earned using the referral bonus. You can earn a total of 10 referral bonuses; that is, a maximum of $50 can be earned using the scheme.
How to invite friends on Venmo?
Well, it is pretty easy, but if you are a new user, you might not find all the required settings. Check out the Steps mentioned below to invite friends on Venmo.
- Step 1 – Open Venmo app on mobile
- Step 2 – On the home screen, select more options icon.
It is the hamburger or three lines icon at the top corner of the app.
- Step 3 – Select “Invite friends, earn $5” option to continue.
- Step 4 – Share the copied link with your friends
You can send the link on Whatsapp, email, FB chat anywhere. It’s not a problem at all.
3. Up to 5% Cash Back Offers
This next scheme won’t be getting you direct cash to your Venmo account, but it will help you save money for sure. Venmo released its debit card service, called Venmo debit card, which can be used to pay the funds in your Venmo account.
And the best thing is, Venmo cards can be used anywhere Mastercards are accepted.
And you can get cashback of up to 5% on using Venmo debit cards. Well, it won’t be 5% for every item you purchase using the card, but the maximum cashback is 5%. And the maximum amount that you can get with the cashback scheme is $20.
Not a considerable amount, for sure, but you can easily save a lot if you use the Venmo card everytime you shop.
Let us understand this in details now.
- 5% cash back is applicable on –
– Grocery Stores
– Select Merchants: Trader Joe’s, Chipotle, CVS, 7-Eleven
And that’s it.
That’s how you can earn some money using the various official referral and bonus schemes by Venmo.
As mentioned earlier, the amount you can earn is little. That’s why you must not rely on them entirely.
Now, you know the official way to get free money on Venmo. All the schemes mentioned above are official; you don’t have to worry about it much.
1. How to get free Venmo money?
You can get free Venmo money by inviting your friend on Venmo to earn referral bonus. Another way is to use Venmo card when shopping outside. You can get up to 5% cash back on shopping with the Venmo debit card.
2. How to get money on Venmo for free?
A lot of users are skeptical if there is a way to get money on Venmo for free. Well, yes, there are some official ways to get money on Venmo for free. You can earn some extra money directly into your Venmo account by earning from the log-in rewards. Check out your registered email inbox right away. Another way to get free Venmo money is by getting money from Cash App referrals.
Ankit Kumar is an Engineer by profession and a blogger by passion. Over the last several years, he has written tons of articles, solving queries on Quora. He also has years of experience in investing in Cryptocurrencies, Funds, and Stocks.