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Linking Chime & Venmo: 11 Questions Answered! (2022 Guide!)

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Isaac Floyd

Author

Last Updated

Venmo is a mobile app acting as a digital wallet, making it easy to send, request, and receive money from friends into your bank account.

Chime bank is also an effective, efficient, and safe way to send and receive money online, so linking the two together makes sense, but is this possible?

Does Chime Work With Venmo?

Chime is fully compatible with Venmo, with users being allowed to add their Chime bank account and cards to send and receive money, pay for merchandise or services, and digital currency. Setting things up is straightforward and it’s easy to navigate through the process. 

As can be expected, it’s not possible to use your Venmo account in connection with a Chime account that isn’t yours. 

Link Your Chime Bank Account With Venmo:

Let’s take a look at some methods of linking your Chime bank account and cards with Venmo, including the mobile app and a laptop/computer.

By Using The Venmo App:

Linking your Chime bank to the Venmo app is a straightforward process. 

1. Download and install the Venmo app on your phone (compatible with both Android and Apple devices), then open the app and input your login details.

2. In the top right corner you will see the hamburger menu icon (three little bars), click this to open it up.

3. Press on Settings, and select Payment Methods.

4. Click on Add a bank or card, and here you can either link to your Chime bank account, and credit or debit card.

5. Enter your Chime details as required and click Add. You can also add a temporary Chime card, which is a digital version of your card usable throughout the waiting period between signing up with Chime and receiving your physical card. 

By Using Your Computer:

You can also link Chime to your Venmo account via a computer/PC or laptop device.

1. Head over to Venmo’s official website and log in.

2. Click settings.

3. Navigate to Payment Methods, and then click on Edit Payment Methods.

4. Here you can either link directly to your Chime bank account or debit card.

Linking To Your Bank Account:

By linking to your Chime bank account, you gain the ability to send and receive money and also make in-app payments. 

Once you’ve navigated through the previous steps and have the bank option available, all you need to do is verify it’s you. Click on Instant Verification, follow the steps, select Chime from the bank account list, sign into your Chime account with your credentials, and now your bank account should be linked. 

Linking To Your Debit Or Credit Card:

By linking to your Chime card you gain the ability to make payments as you please, but you also lose the ability to receive money into your bank account. It is to be noted that credit cards charge an additional 3% fee for transactions.

After you have clicked Add and your Chime card is linked, Venmo will now send $1 to your account to complete a verification process, so make sure there is at least this amount in your account to avoid being overdrawn!

How Long Does Chime Take To Transfer To Venmo?

If you have a Chime bank account linked with Venmo, then bank transfers will generally take between 1-3 business days to arrive. For a faster option, you can transfer money through your Chime Debit card, as this process is almost instantaneous, without leaving you waiting around.

Additionally, when making bank transfers there are some factors to take into consideration regarding transfer times, such as weekends and bank holidays.

As an example, if you place your transfer after 7 pm Eastern Time on a Friday, or on a Saturday or Sunday, then your transfer will begin the next business day, which will be on Monday, and should be completed between Tuesday and Thursday. The same aspect applies to bank holidays, where the transfer will begin the next business day after the bank holiday is over. 

Are There Fees For Using Chime With Venmo?

There are fees for using Chime with Venmo. 

  • If linked via Chime Debit card you will pay a 1.5% fee for an instant transfer, and there is a transfer limit of $15 per transfer
  • If you choose the bank transfer option, as this isn’t an instant transfer option there are no fees incurred and you can expect to wait for between 1-3 business days for transfers to be completed
  • For credit cards connected to your Chime account, whenever you pay or send someone money through Venmo there will be an additional charge of 3%

Aside from the fees listed above, using Chime with Venmo doesn’t incur additional charges either to open your account or charge a monthly fee.

How To Transfer Money From Venmo To Chime?

To transfer money from Venmo to Chime, click on the hamburger menu at the top right of the screen and then click on the Transfer money option. Then, choose the amount of money you’d like to transfer from Venmo to Chime.

Each instant transaction from Venmo to Chime incurs a fixed fee of 1.5% and transfers are from a minimum of $0.25 and a maximum of $25, while bank transfers have no transfer fees or limits. 

How Long Does Venmo Take To Transfer To Chime?

If you’re using the instant transfer option then the funds should reach you almost instantly, although you’re limited to $15 per transfer. If you’re using the 1-3 business days option, then as stated, the funds can take between 1-3 working days to arrive in your Chime account.

Does Chime Work With Venmo Instant Transfer?

Chime is an eligible bank working with Venmo instant money transfer, allowing users with Venmo accounts to quickly send money, which usually takes no longer than 30 minutes to arrive at your Chime account. Instant transactions from Venmo to Chime have a fee fixed at 1.5%, and transfers range from a minimum of $0.25 and a maximum of $25.

To use Venmo to transfer money to a Chime bank or debit card you will need to add Chime as a payment option in-app. It’s also possible to see the estimated arrival date in your personal transactions feed subsequent to starting a transfer.

Does The Chime Card Work With Venmo?

Venmo is fully compatible with Chime cards. You first need to link your Chime card via the Venmo App, by navigating to settings and payment methods, then add your card, and you are free to send money as you please.

Is It Safe To Use Venmo And Chime Together?

It’s widely regarded as safe to use Venmo and Chime bank together. After connecting your Chime bank or card with Venmo you can reliably send and receive payments directly into your bank account, pay for goods and services, and even invest in crypto if that’s your thing!

Facing Problems With Linking Your Chime & Venmo Account?

Although most people will be fine to send money once they have linked their Chime Debit card to Venmo, in some cases problems arise. Here are some issues users have encountered and solutions to the problems. 

  • To be able to use Venmo’s service, ensure transactions are enabled for Chime after adding it to Venmo 
  • Some users have experienced issues with adding their Chime bank, as there seems to be no option under the bank section in Venmo for The Bancorp Bank. In this case, contact the support.
  • If you only want to send money, and not receive it, then adding a Chime Debit card might be an easier option, as when adding a bank account some users have been declined.
  • If you have been rejected when trying to link accounts then you may have been flagged for security reasons when trying to add your card, and in this case, it’s possible your account may have been locked, and you will receive an email from Chime support. You can also contact Chime support regarding this issue.

You can contact Chime’s customer support at 1 (844) 244-6363, and Venmo’s customer support at (855) 812-4430.

References

Chime.com

Venmo.com

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About Isaac

Isaac graduated with an MBA in 2014. After graduating he worked in the software industry for 5 years. He started his first online side hustle in early 2018, today he makes a full-time income from his 3 online side hustles. One of the 3 is Humbled MBA.