Originally Posted by
radonc1
You are correct. Of course Venmo can direct deposit into a checking account. This is how they transfer money from them to you. However, one still needs to fund Venmo in order to do that transfer and I do not believe that you can direct deposit funds into Venmo. You can fund Venmo through a bank account (and they will debit the bank account if your Venmo account is less than the charge amount), but you cannot transfer money yourself from your bank account into VM. You can use a CC but there is a 3% charge for it.
This site may explain the funding process even better.
Given all the data breaches, I actually set up a separate bank account just for VM and have funded it minimally in order to limit my exposure if something goes boing in the night.
Oh yeah - I don't think you can do that. My SO and I both have accounts so we just send it back and forth. And as far as funding goes, if you can't find a GC that works, just use your debit card from another bank and you won't have any fees and then you can get one of the venm0 accts funded and ready to direct deposit into the new bank acc.