How to Add Funds to PS5 Wallet

Introduction

If you want to make sure you’ll have money on your PlayStation account when you need it, you can easily add funds to your PS5 wallet from your connected payment methods. If you’re an adult who’s looking to put funds on your child’s account, it’s worth noting that you can’t add funds to your child’s PSN account specifically, but they will be able to use any funds that are added to their family manager’s PlayStation wallet.

Some of the images associated with the steps are included inline below. All images associated with these steps can be seen in the embedded YouTube video. Also, please note that you’re not able to leave a comment directly on this article. If you have a question or feedback, please leave it on the YouTube video.

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Steps to Add Funds to PS5 Wallet

  1. Click the “Settings” icon on your PS5 home screen, and then click “Users and Accounts” in the Settings menu that’s displayed. The Users and Accounts screen is shown.

  1. Choose “Account” in the menu on the left side of the screen, and then click “Payment and Subscriptions” on the right side of the screen. The Payment and Subscriptions screen is displayed.

  1. Select “Add Funds.” A list of funding methods connected to your PlayStation wallet is shown. If you don’t have any connected payment methods, you’ll be required to add one to add funds from.

Choose the method you want to use to add funds to your PlayStation wallet. The next window will ask you to select how much money you want to add to your PSN wallet.

  1. Click the drop-down to see the options associated with how much money you can add to your PS5 wallet. As a note, you can’t define a separate amount to add and you have to choose from this list.
  2. Click “Continue” after making your selection. A window is displayed asking if you’re sure you want to add your selected amount to your PlayStation wallet.

  1. Choose “Yes.” The next screen will confirm that you’ve added funds to your PlayStation wallet, and will show you your current PSN wallet balance.

5 Reasons to Add Funds to PS5 Wallet

1. Purchasing Games and DLCs

Adding funds to a PS5 wallet enables players to buy new games and downloadable content (DLC) directly from the PlayStation Store. This convenience allows users to access content immediately after release without needing physical copies. Many games offer DLCs that expand the gameplay with new adventures, characters, or abilities. Having a funded wallet means being ready to purchase these as soon as they’re available. It also simplifies the process, as no credit card information needs to be entered each time. This is especially handy during sales, when popular games and DLCs are often discounted, allowing players to get more value for their money.

2. Subscription Services

Funds in the PS5 wallet can be used to subscribe to services like PlayStation Plus. This subscription offers several benefits, including free monthly games, online multiplayer access, and exclusive discounts on the PlayStation Store. By maintaining a balance in their wallet, users can seamlessly renew their subscription and continue enjoying these perks. It also helps avoid service interruptions that might occur due to expired credit cards or other payment issues. Additionally, PlayStation often offers special promotions or bundles that are available to subscribers, making wallet funds a convenient way to take advantage of these deals.

3. Gifting

The PS5 wallet can be used to gift games, DLCs, or subscriptions to friends and family. This makes it an excellent option for those who want to share the joy of gaming without the hassle of physical gifts. Adding funds to the wallet allows users to purchase and send digital gift cards or content directly through the PlayStation Network. This is particularly useful during holidays or special occasions like birthdays, providing a last-minute gifting option that is both thoughtful and easy to deliver.

4. In-Game Purchases

Many games offer in-game purchases that enhance the player’s experience. These can include cosmetic items, such as skins or outfits, and functional items like weapons or boosts. Having funds readily available in the PS5 wallet allows players to make these purchases quickly and easily, enhancing their gaming experience without disrupting gameplay. This is particularly appealing to players engaged in multiplayer games where in-game purchases can offer competitive advantages or allow for more personalized gameplay.

5. Parental Control and Budgeting

For parents, adding funds to their child’s PS5 wallet offers a way to control spending. Instead of linking a credit card with potentially unlimited spending, parents can allocate a specific amount to the wallet. This helps teach kids about budgeting and limits their purchases to what’s pre-approved. It also avoids surprise bills and helps manage spending on video games, ensuring children enjoy their gaming experience within a set budget. This method offers both convenience and peace of mind for parents wanting to monitor and control their child’s gaming expenditures.

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About Max

Max has nearly 20 years of experience working in IT across three different industries in project management and management capacities: publishing, telecommunications and healthcare. He holds the following degrees and certifications: BS Communications, MA Communications, MBA and Project Management Professional (PMP). His tutorial-focused YouTube channel earned more than 100,000 subscribers in its first four years, and currently has more than 160,000 subscribers, 110,000,000 video views and an insane 2.4 million hours of watch time. Max enjoys learning new technology, reading and collecting comic books, listening to audiobooks and playing video games.

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