Yes, you can link a savings account to Venmo, but Venmo treats it differently than a checking account
Venmo will accept a savings account as a funding source, but the connection works through your bank's routing and account numbers, the same way a checking account does. The difference is what happens after: Venmo can pull money from savings to cover a payment you send, but the transfer may take longer and could trigger overdraft fees or savings withdrawal limits depending on your bank's rules. Most people use checking accounts instead because the process is faster and cleaner, but savings accounts work if that's what you have.
The real constraint is your bank, not Venmo. Some banks limit how many times you can withdraw from savings per month (often six under federal rules, though this varies), and some charge a fee each time money leaves. Venmo doesn't charge you to link the account, but your bank might charge you for the withdrawal itself.
Key Takeaways
- Venmo accepts savings accounts using the same routing and account number method as checking accounts, but transfers may be slower.
- Your bank may limit savings withdrawals to six per month and may charge a fee for each one, which Venmo does not control.
- Linking a savings account to Venmo does not automatically move money—you choose when to fund a payment from that account.
- If your savings account has withdrawal restrictions or fees, a checking account is usually a simpler funding source for Venmo.
How to add a savings account to Venmo
Open the Venmo app and go to the menu (three horizontal lines in the bottom right on most phones). Tap Settings, then Payment Methods. Select Add a Bank Account. Venmo will ask for your bank's name, your account number, and your routing number. You can find both numbers on a check, or by logging into your bank's website or calling the bank directly.
Venmo will verify the account by making two small test deposits (usually under $1 each) to your savings account. Your bank will show these as pending transactions. Once they clear—usually within one to two business days—Venmo will ask you to confirm the amounts. After you confirm, the account is linked and ready to use.
You do not have to use the savings account right away. Once it is linked, you can choose which account to pull from each time you send money. If you link both a checking and a savings account, Venmo will remember which one you used last, but you can switch before each payment.
What happens when you send money from savings
When you send a Venmo payment and choose to fund it from your linked savings account, Venmo sends an electronic transfer request to your bank. Your bank then moves the money from savings to Venmo's account. This process usually takes one to three business days, which is longer than a checking account transfer (which can be when ready or same-day depending on your bank).
During that delay, the money is in transit. If you need the funds before the transfer completes, you cannot access them. Some banks will show the money as "pending" in your savings account during this time; others will deduct it when ready. Check your bank's policy to know what to expect.
If your bank has a monthly limit on savings withdrawals and you hit that limit, the transfer may fail or be delayed until the next month. Venmo will notify you if this happens, but the payment to the other person may not go through on time.
Fees and limits to watch for
Venmo itself does not charge a fee to link or use a savings account. However, your bank may charge a fee for each withdrawal from savings, especially if you exceed the withdrawal limit (commonly six per month under federal Regulation D, though some banks allow more). These fees are set by your bank, not Venmo, and Venmo cannot waive them.
If your savings account balance drops below a minimum (often $25 or $100), your bank may charge a maintenance fee. Venmo does not prevent you from transferring money that would drop you below that minimum, so you have to track it yourself.
If the transfer fails—because of insufficient funds, a closed account, or a bank error—Venmo will return the money to your Venmo balance. You can then try again or choose a different funding source. Venmo does not charge you for a failed transfer, but your bank might if the failure triggers an overdraft attempt.
When a checking account is a better choice
If you have access to a checking account, linking that instead of savings will avoid most complications. Checking accounts have no federal withdrawal limits, transfers are usually faster, and banks rarely charge per-transaction fees for checking account withdrawals. The setup process is identical—Venmo still uses your routing and account numbers—but the experience is smoother.
If you only have a savings account, that is fine; Venmo will work. But if you plan to use Venmo regularly, opening a free checking account at your bank (or at an online bank) is worth considering. Many banks offer checking with no monthly fee and no minimum balance.
Removing or replacing a linked savings account
If you want to stop using the savings account with Venmo, go to Settings > Payment Methods, find the account in the list, and select Remove. Venmo will ask you to confirm. Once removed, you cannot use that account to fund Venmo payments, but the account itself is not affected—your bank will not close it or change anything on their end.
If you want to replace it with a different account (a new savings account at another bank, or a checking account), straightforward add the new account using the same process. You can have multiple accounts linked at once and choose which one to use for each payment.
Frequently Asked Questions
Will Venmo let me transfer money from my savings account to another person's savings account?
No. Venmo only transfers money between Venmo accounts. When you send money through Venmo, it goes to the other person's Venmo balance, not directly to their bank account. They can then transfer it to their own bank account (checking or savings) if they want, but that is their choice and their transaction.
What if my bank rejects the transfer from Venmo?
Your bank might reject a transfer if your account is closed, if there is a fraud hold, or if the routing number is wrong. Venmo will notify you that the transfer failed and return the money to your Venmo balance. Contact your bank to find out why they rejected it, fix the issue, and try again with the corrected information.
Can I use Venmo to move money between my own savings and checking accounts?
No. Venmo is designed for sending money to other people, not for moving money between your own accounts. If you want to transfer money between your own accounts at the same bank, use your bank's app or website directly—it is faster and free. If the accounts are at different banks, use your bank's bill pay or external transfer feature.
Does linking my savings account to Venmo affect my bank account in any way?
Linking does not change your account, close it, or trigger any fees. Your bank will see the two small test deposits Venmo makes during verification, and then the transfers you authorize when you send Venmo payments. That is all. Your savings account works exactly as it did before.
What if I forget which account I linked to Venmo?
Go to Settings > Payment Methods in the Venmo app. You will see all linked accounts listed by the last four digits of the account number and the bank name. If you are not sure which account is which, log into your bank's app and compare the last four digits shown there with what Venmo displays.