Do you want to connect your bank account with Venmo and wondering whether it is safe or not?
Is it safe to use Plaid with Venmo?
If you are wondering whether Plaid on Venmo is safe or not and can you connect your bank account on Venmo without Plaid, then you have landed on the right page.
This post explains all you need to know about connecting your bank account with Venmo using Plaid and without using Plaid.
So, let’s get started.
Is Plaid on Venmo safe
Yes, connecting a bank account with Venmo via Plaid is completely safe as Plaid uses all the latest security technologies, such as Advanced Encryption Standard (AES 256) and Transport Layer Security (TLS), and has its own multifactor authentication (MFA).
Venmo is a Peer to Peer money sending and receiving app or a service using which people can easily transfer or receive from their friends and family.
When you create an account with Venmo, and you want to connect your bank account with it so that you can transfer money from your bank to your Venmo balance, you are promoted with Plaid to link your bank account.
Many users think what is Plaid and is it safe to link a bank account with Venmo via Plaid.
Plaid is a financial services company based in California. It’s a service or product that allows other financial apps and services to link users’ bank accounts.
Plaid is safe and reliable, and it specializes in connecting users’ bank accounts with businesses.
It uses all the latest technologies to protect and secure users’ data.
Plaid uses best-in-class encryption protocols like the Advanced Encryption Standard (AES 256) and Transport Layer Security (TLS) to protect your data.
To securely connect your bank account Plaid has its own multifactor authentication (MFA)
Plaid uses the latest could infrastructure to store its Product’s API and data.
In a nutshell, Plaid relies on the following things to protect user data and maintain security:
- Data encryption :
- cloud infrastructure :
- Multi-factor authentication :
- 24/7 monitoring :
- Independent security testing :
Can I link bank account with Venmo without Plaid
Yes, you can link your bank account with Venmo without Plaid.
Below, we have explained a few ways by you can link bank account with Venmo without Plaid.
How to use link bank account on Venmo without Plaid
Although you can quickly and safely link your bank account with Venmo using Plaid, still you do not want to want to use it, then don’t worry; we have got you covered.
There are three methods to use Venmo without Plaid; one is to link your bank account with the manual verification method; second, you can link your debit card instead of your bank account; or the third, use Venmo without the bank account.
We have explained all these methods in detail below:
1. Link bank account with manual verification
You will need Plaid to link your bank account only when you want to do it instantly.
Alternatively, Venmo provided a manual verification method that takes 1-3 business days to complete.
In the manual verification method, you will need to provide your bank details like account number and routing number to Venmo. Venmo will deposit micro-deposits to your account to confirm and link your bank account.
For Venmo manual bank verifications, keep the following things in mind:
- Use only Checking account
- Enter correct account and routing number
- Ensure your account at least have $2 in your account, so that micro transfer can get completed.
- Account’s transaction limit has been exceeded, and it’s active.
So, that’s all this is how using the micro transfer method you can manually link your bank account with Venmo without using plaid.
2. Link debit card instead of bank account
Another method to use Venmo without Plaid is to link a debit card instead of a bank account.
Linking a debit card instead of the bank account provides you with almost the same features.
You can easily transfer money from linked debit card to Venmo balance or vice-versa. And as debit card is connected to the bank account, the balance will get updated automatically when use add or pull money from it.
The only problem is that you cannot use the standard ACH transfer to cash out funds from Venmo when using a debit card.
Standard transfer from Venmo to your Bank account is free and takes 1-3 business days. But in case of debit card, the transfer is instant, and you have to pay 1.5% fee for every transfer.
However, in case of bank account, you can choose standard transfer, which are free. Well, paying a fee, bank transfer can also be instant on Venmo.
You can add a debit card to the Venmo app by following the steps below:
- Open the Venmo app and log-in
- Next go to the “You” tab by selecting the single person icon.
- Next tap on Settings (gear icon) in the top right corner.
- Now tap “Payment Methods”
- Next Tap “Add bank or card” and select “Card”
- Input your card information by typing or using your phone’s camera
3. Use Venmo without bank account
If you do not want to link a bank account or a debit card with Venmo, you can still use it without doing that.
You can create your Venmo account and use it without linking a bank account or debit card. However, it comes with certain limitations such as you won’t be able to load money to your Venmo account on your own.
To add money to your Venmo balance you will need to ask your friend or family member who is a user of Venmo to send you money.
Once you have money in your Venmo balance, you can send it to someone else and can even withdraw at an ATM, if you have the Venmo debit card.
So, this is how you can use Venmo without linking the bank account or debit card.
So, that’s all for now, guys. I hope this article helped you understand whether Plaid is safe to link your bank account with Venmo or not. And yes, we find no problem with linking bank accounts with Plaid, as it is entirely secure.
Still, if you do not want to link your bank account with Venmo via Plaid, you can incorporate other methods to link the bank account as detailed above.
For more post like this, visit our Venmo section, or follow a few related posts below.
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.