The Venmo app has gained much popularity recently and is now considered to be one of the quickest and safest ways to receive and send money online. You can also make online and offline purchases with it. If you are living in the US then you can take full advantage of this app as it’s not currently available in other countries. One of the rewards of using Venmo is that you get cashback.
Get Venmo Cashback
With Venmo, you can get a certain percentage of cashback depending on your spending category and merchant. This is a huge reward and you can save a lot of money on your online transactions. You need to learn about Venmo offers to earn the maximum cashback. Here you will know how to earn cashback with Venmo.
Choose Merchants Carefully
Different merchants offer cashback at different times. For example, Sephora, Papa Johns, Target, and some other stores are offering 5% cashback now. The cashback offers constantly change and so you will need to check your Venmo app regularly to learn about the stores that are currently offering cashback. Just go to the ‘Offer’ section of the app. You should also remember that some offers have limits. So, before purchasing anything, find out the terms of the offers.
Know The Categories
Cashback is not offered in all categories of purchases. Currently, you can get it in eight different categories which include transportation, travel, grocery, health and beauty, gas, dining and nightlife, bills and utilities, and entertainment. The cashback you will receive doesn’t depend on your shopping habit. So, even if you become a less frequent shopper, you will receive the cashback.
Change Cashback Into Crypto
You can now change the cashback you receive from Venmo into crypto. All you need to do is activate the ‘Purchase Crypto‘ feature in the Venmo app. Then you can choose any crypto you prefer. There is no extra fee for crypto transactions. Crypto is a good investment today and many cryptocurrencies have experienced exponential growth over the past few years. So, having cryptocurrency in your wallet can be profitable.
Get Cashback On Your Venmo Account
When you make a purchase, you will see the cashback earned in the Venmo app feed. Once the transaction is done by the merchant, you will get the cashback in your Venmo account. It usually takes 1 – 5 days to get the cashback. The cashback offers have a time limitation. You can only avail of them as long as they are shown in the ‘offers’ section of the Venmo app. However, the cashback that you receive in your account has no expiry date. So, you can spend it any time you want to.
Public Or Private Setting
If you want you can set your ‘cashback’ status to public or private. If you set it to ‘public’, your friends will know how much cashback you have received and they will feel motivated to use Venmo as well. That way you can receive a referral bonus on your Venmo account.
Getting Venmo cashback is hassle-free. You just need to follow the instructions given in the app to get the cashback. Unlike many other payment apps, Venmo doesn’t have an annual fee. So, without incurring any extra cost, you are getting a decent amount of cashback on your purchases when you use the Venmo app.