Yes, you can transfer money from Venmo to your bank account in one to three business days

Venmo lets you move your balance to a linked bank account through a process called a transfer. The money sits in your Venmo account until you initiate the move yourself — it does not happen automatically. Most transfers land in your bank account within one to three business days, though some take longer depending on your bank and the day of the week you transfer.

You will need a bank account linked to Venmo before you can transfer. If you have not already added one, you can do that during the transfer process itself. Venmo accepts checking and savings accounts from most U.S. banks, credit unions, and online banks.

There is no fee to transfer to your bank account using the standard transfer option. Venmo also offers an when ready transfer option that moves money to your account in minutes, but that service costs between 25 cents and $2 per transfer depending on the amount.

Key Takeaways

  • Standard transfers from Venmo to your bank account take one to three business days and cost nothing.
  • You must link a bank account to Venmo before you can transfer money out, which you can do through your account settings or during your first transfer.
  • when ready transfers arrive within minutes but charge a fee of 25 cents to $2 depending on how much you are moving.
  • Transfers initiated on weekends or holidays may not begin processing until the next business day.

How to link a bank account to Venmo

Open the Venmo app and tap the three horizontal lines in the bottom right corner to open the menu. Select "Settings," then "Payment Methods." Tap "Add a bank account" and choose whether you want to add a checking or savings account.

Venmo will ask for your bank's routing number and your account number. You can find both on the bottom left of a check, or log into your bank's website to locate them. Venmo will also ask for your full name as it appears on the account and your date of birth.

After you enter this information, Venmo deposits two small amounts (usually under one dollar each) into your bank account within one to two business days. You will then need to confirm those amounts in the Venmo app to verify you own the account. This verification step prevents someone else from linking your bank account without permission.

Steps to transfer money from Venmo to your bank account

Once your bank account is linked and verified, open Venmo and tap the three horizontal lines in the bottom right. Select "Transfers" from the menu. You will see a "Transfer to Bank" option — tap that.

Enter the amount you want to move. Venmo will show you two options: "Standard" (one to three business days, no fee) and "when ready" (minutes, 25 cents to $2 fee). Choose the option you need and confirm the transfer. The money will leave your Venmo balance when ready, but it will not appear in your bank account right away if you chose standard transfer.

You can check the status of your transfer by going back to the Transfers section. Venmo shows you when the transfer was initiated and gives you an estimated arrival date. If your transfer does not arrive by the estimated date, contact your bank to ask whether it is still processing.

Why your transfer might be delayed

Transfers initiated on Friday afternoon, Saturday, or Sunday usually do not begin processing until Monday morning, since banks do not process transfers on weekends. A transfer you initiate on Monday morning might arrive by Tuesday or Wednesday, but one you initiate Friday at 5 p.m. will not start moving until Monday.

Your bank itself can also cause delays. Some banks take longer to receive and post transfers than others. If Venmo says the transfer was sent but your bank has not received it after three business days, call your bank's customer service line and give them the transfer date and amount. They can tell you whether the transfer is in their system and when it will post.

Venmo may also hold or delay a transfer if it flags the transaction as unusual activity. This happens most often if you are transferring a large amount for the first time, transferring from a newly linked account, or transferring from a new device. If this happens, Venmo will notify you in the app and may ask you to verify your identity before the transfer goes through.

when ready transfers versus standard transfers

The main difference is speed and cost. Standard transfers are free but take one to three business days. when ready transfers cost money but arrive within minutes — usually within 30 seconds to a few minutes after you confirm.

The when ready transfer fee depends on the amount you are moving. Venmo charges a flat 25 cents for transfers under $200, and 1.5% of the transfer amount for transfers of $200 or more (capped at $2). So transferring $100 when ready costs 25 cents, but transferring $500 when ready costs $7.50 (1.5% of $500).

Use when ready transfer when you need the money right away — to cover an unexpected expense or pay someone back when ready. Use standard transfer when you can wait a few days and want to avoid the fee.

What to do if your transfer fails or does not arrive

If Venmo shows the transfer as failed, the money returns to your Venmo balance automatically, usually within one business day. You can then try the transfer again, or contact Venmo support through the app if the same error keeps happening.

If Venmo shows the transfer as sent but the money never arrives in your bank account after three business days, the issue is usually on your bank's end. Call your bank and provide them with the date, amount, and the name of the sending service (Venmo). Ask them to search their incoming transfer log for that amount and date. If they find it, they can tell you why it has not posted yet. If they do not find it, ask them for instructions on how to file a claim for a missing transfer.

If your bank says they never received the transfer, contact Venmo support through the app. Provide them with the transfer confirmation number (visible in the Transfers section) and the date you initiated it. Venmo can check whether the transfer actually left their system and help you file a claim if it was lost in transit.

Frequently Asked Questions

Can I transfer money from Venmo to a savings account instead of checking?

Yes. Venmo accepts both checking and savings accounts. When you link your account, you choose which type it is. The transfer process is the same regardless of account type.

What if I want to transfer money to someone else's bank account?

Venmo does not let you transfer your balance directly to another person's bank account. You can only transfer to your own linked bank account. If you want to send money to someone else, you send it to their Venmo account, and they transfer it to their own bank account.

Do I have to transfer all my Venmo balance at once?

No. You can transfer any amount up to your full balance. You can transfer $10 one day and $50 another day. There is no minimum transfer amount for standard transfers, though some banks may have their own minimums.

Can I cancel a transfer after I have started it?

If you initiated a standard transfer, you can cancel it before it reaches your bank, usually within a few hours. Open the Transfers section, find the pending transfer, and look for a cancel option. Once the transfer arrives at your bank, you cannot cancel it through Venmo — you would need to contact your bank. when ready transfers cannot be canceled because they arrive too quickly.

What happens if I unlink my bank account while a transfer is pending?

If you unlink your bank account before a standard transfer arrives, the transfer will fail and the money returns to your Venmo balance. If you unlink it after an when ready transfer has been sent, the transfer will still arrive at your bank account because it has already left Venmo's system.