For some time now, Venmo has allowed you to electronically pay friends, transfer funds to your bank account, and even purchase in various apps and online stores. The possibilities are expanding, however, thanks to Venmo Card, a debit card for the real world.
With Venmo Card, you can use your Venmo balance everywhere Mastercard is accepted in the U.S., as well as at ATMs that display Mastercard, Cirrus, PULSE, or MoneyPass acceptance marks. There are no fees for MoneyPass ATM withdrawals, but you will be charged a $2.50 USD domestic withdrawal fee at non-MoneyPass ATMs. In addition, you can only withdraw up to $400 USD each day.
To keep track of your account, Venmo Card purchases will appear in your Venmo transaction history. You can also set up your phone with alerts for each swipe.
In related news, Instagram has begun to roll out IGTV, a new app for watching long-form, vertical video.