Venmo has entered the card rewards chat with a new program designed to multiply cash-back earnings.
The money movement platform recently launched Venmo Stash*, a tiered cash-back rewards program for Venmo Debit Mastercard®** members. Venmo Stash allows cardholders to earn up to 5% cash back on eligible purchases that are part of three designated bundles featuring retailers and service providers that cardholders can change every 30 days.
If Venmo is your go-to method of sending and receiving money and you're an existing Venmo Debit Card holder — or planning to get the card — and want a way to earn cash back on the platform for purchases you're already making, Venmo Stash is here to answer the call.
Here's why those who value simplicity and flexibility when it comes to earning and redeeming rewards will want to consider this program.
What is Venmo Stash?
Venmo Stash works like this: To start, you choose a bundle that features specific brands, and for 30 days, you'll earn 1% cash back on every purchase made using your Venmo Debit Card (tied to your Venmo balance) with retailers featured in your chosen bundle.
Currently, bundles are broken up as follows:
- Bundle 1: Walmart, Taco Bell, Lyft, GameStop and ESPN
- Bundle 2: Target, McDonald’s, TikTok Shop, Uber and Uber Eats
- Bundle 3: DoorDash, Amazon, Walgreens and Taco Bell
Each bundle features multiple stores and services to choose from, allowing you to tailor your bundle to your specific spending habits. Remember, though, that once you select a bundle, you're locked into that selection for 30 days.
I would get immediate value from some restaurants in a given bundle (don't sleep on McDonald's French vanilla lattes!) and services like DoorDash, as I typically have my lunch delivered when I'm stuck at my desk.
I also love that bundles aren't permanent and you can swap them out every month or so. This is a big win in my book since I value the freedom that comes with flexibility.
How to use Venmo Stash
To double your reward rate and net 2% cash back on your transactions, you have the option to toggle on auto-reloads so that you always have cash in your debit card balance.
And if you're going all-in and want to max out the 5% cash-back rate, you'll need to set up a recurring Direct Deposit of at least $500 per month to qualify.
As a Venmo Debit Card holder, you don't have to worry about maintaining a set minimum balance or paying a monthly fee — an ideal alternative for those who want a fee-free online banking experience with less hassle.
Venmo Stash cash back is added to your Venmo balance, providing a seamless redemption experience. You should expect to see your cash-back rewards land in your account in about 30 days, though it could take longer.
What else should you know about Venmo Stash?
Venmo Stash maxes out at $100 cash back per month. This means that regardless of how much you spend using your Venmo Debit Card, you're looking at a maximum of $1,200 in cash-back rewards annually.
To reach the $100 monthly maximum reward, debit card holders must spend at least $2,000 per month at the 5% cash-back rate.
You can also take advantage of exclusive offers available through your Venmo Debit Card that provide additional savings and reward-earning potential on specific purchases (think: groceries and entertainment charges, for example).
To activate offers:
- Log in to the Venmo app.
- Click on your Venmo Debit Card under "Cards."
- Click to activate each offer you're interested in and start earning cash back on your purchases.
The cherry on top is that you can double-dip and use Venmo Stash to earn cash back in conjunction with the offers you activate.
I love stacking rewards whenever possible, which is why I'm always browsing the offers featured on my cards in addition to frequently browsing PayPal Honey (if you know, you know). If you love a deal as much as I do, chances are you'll get a kick out of searching through your Venmo Debit Card offers to use with your designated bundle.
Venmo loyalists, this rewards program was made for you
For me, cash back takes a back seat to earning transferable points and miles, but it's still very much a part of my overall reward strategy. Find yourself in the same boat? Or, maybe you prioritize cash back as your preferred reward currency? Either way, Venmo Stash could be a good fit.
Don't have the Venmo Debit Card? No problem. Signing up is free, and you'll be able to add your new card to your mobile wallet immediately, meaning you can start earning cash back right away. The Venmo Debit Card lets you withdraw cash from thousands of MoneyPass® ATMs throughout the U.S., but I recommend using your balance on purchases that'll earn you cash back with Venmo Stash instead.
If you enjoy a diversified reward portfolio, the Venmo Debit Card and Venmo Stash rewards program could be a boon to your strategy. If you prefer cash back over all other reward types and use Venmo to manage your funds, this customizable reward program is designed for you. Learn more and sign up here.
*Venmo Stash terms and exclusions apply. Max $100 cash back per mo. See terms at venmo.me/stashterms.
**The Venmo Mastercard® is issued by The Bancorp Bank, N.A., pursuant to license by Mastercard International Incorporated. Card may be used everywhere Mastercard is accepted. The Bancorp Bank, N.A. is issuer of the Card only and not responsible for the associated accounts or other products, services, or offers from Venmo.
