Category -- Person to Person Payments, Debit Card, Rewards
Platform -- IOS and Android
The Venmo App Is mainly used for person to person payments, but they recently have added a debit card that you can use and have rewards at many different merchants.
Deposit -- You can add money via ACH transfer from your bank account. (Takes usually 3-5 business days).
Withdrawal -- Instantly via your bank debit card (1% fee up to max $10), free 1-3day ACH withdrawal to bank account or withdrawal via ATM with Venmo Debit Card.
Identity -- It does require full KYC identity verification.
Sign Up Bonus -- They currently do not offer any sign up bonus but occasionally they do run promotions. We will try to update if they have any in the future.
Fees -- No account fees other then the instant withdrawal back to your debit card or ATM fees. (see app terms for complete fees.)
Rewards -- The Venmo debit card has a thing they call Rewards which are cashback offers for retailers instore and online. These are cashback rewards after purchases are verified. The Reward program is current ran by Dosh which is a cashback app. The offers for cashback change often so you want to check to see if they are still a valid offer available before you make the purchase. (Currently the top offers are 2% off Walmart, 3% off convenience stores, 10% Adidas and many others.)
Time To Open Account -- Usually about 1 day for verification of the account and then after you apply for the debit card it usually takes 7-10 business days.
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