Yes, you can transfer money from Venmo to a bank account
Money in your Venmo balance can move to a linked bank account in one of two ways: a standard transfer that takes one to three business days, or an when ready transfer that arrives within minutes. Both cost nothing for the standard route; when ready transfers charge a small percentage fee (usually between 1% and 2%, depending on your bank). You control which option you use each time you transfer, so you can choose based on how quickly you need the money.
The process itself is straightforward once your bank account is connected to Venmo. You open the app, tap the balance at the top, select "Transfer to Bank," choose your bank account, enter the amount, and confirm. The money then moves according to whichever speed you selected.
Key Takeaways
- Standard transfers from Venmo to your bank account take one to three business days and cost nothing.
- when ready transfers arrive within minutes but charge a fee of roughly 1% to 2% of the amount you send.
- Your bank account must be linked to Venmo before you can transfer money out, which requires your routing number and account number.
- Transfers are only available from your Venmo balance — money you received from other users — not from a linked debit card.
- Weekends and bank holidays can delay standard transfers, so plan ahead if you need the money by a specific date.
What you need before you can transfer
To transfer money out of Venmo, you must first link a bank account to your Venmo profile. This is different from linking a debit card (which Venmo uses to add money into your account). You will need your bank's routing number and your own account number — both appear on a check, or you can call your bank's customer service line to ask.
Open Venmo, go to Settings, select "Payment Methods," and choose "Add Bank Account." Enter your routing and account numbers, and Venmo will verify the account by making two small deposits (usually under $1 each) to your bank. Once those deposits clear, you confirm the amounts in the Venmo app, and the account is linked. This verification step takes a few days but only happens once.
You also need money in your Venmo balance to transfer. This balance comes from payments other people sent you through Venmo. If you only have a linked debit card and no balance, you cannot transfer anything out — you would need someone to send you money first, or you would need to add funds from your debit card and then transfer those funds back out.
Standard transfers: free but slower
A standard transfer takes one to three business days to reach your bank account. "Business days" means Monday through Friday, excluding federal holidays, so a transfer you start on Friday afternoon might not arrive until Wednesday. If you need the money by a specific date, count backward and start the transfer early.
Standard transfers are free — Venmo charges no fee, and your bank should not charge you either (though it is worth confirming with your bank if you are unsure). This makes standard transfers the cheapest option if you can wait a few days.
Once you start a standard transfer, you can see its status in the Venmo app under "Transfers." The status will show "pending" while it processes, then "completed" once it lands in your bank account. Some banks display the incoming transfer before it is fully settled, so you might see it appear a day earlier than the stated timeline.
when ready transfers: fast but with a fee
An when ready transfer moves money from Venmo to your bank account within minutes — usually between 30 seconds and a few minutes. This speed comes with a cost: Venmo charges a percentage fee on the amount you transfer, typically between 1% and 2%. The exact fee depends on your bank and can vary slightly, so Venmo will show you the fee amount before you confirm the transfer.
For example, if you transfer $100 and the fee is 1.5%, you will pay $1.50 and receive $98.50 in your bank account. The fee is deducted from your Venmo balance before the transfer, so the full amount you requested does not arrive.
when ready transfers work around the clock, including weekends and holidays. If you need money urgently — to cover an unexpected bill or to move cash before a important date — when ready transfer is the option that will get it to you fastest. You can use when ready transfer as often as you want, though Venmo may set limits based on your account history and the total amount you transfer in a given period.
Linking a different bank account
You can link multiple bank accounts to Venmo and choose which one to transfer to each time. To add another account, go to Settings, select "Payment Methods," and choose "Add Bank Account" again. You will go through the same verification process with the small deposits.
If you want to change which account is your default for transfers, go to Settings, find "Payment Methods," and select the account you want to use. You can also choose a different account at the moment you start a transfer — when you tap "Transfer to Bank," Venmo will show you all linked accounts and let you pick one.
If you need to remove a bank account, go to Settings, select "Payment Methods," find the account, and choose "Remove." You cannot remove an account if a transfer to it is currently pending, so you will need to wait for that transfer to complete first.
What happens if a transfer fails or takes longer than expected
Standard transfers occasionally take longer than three business days if your bank is slow to process incoming transfers or if a holiday falls during the processing window. If your transfer shows "pending" after four business days, contact Venmo support through the app — they can investigate whether the transfer is stuck on Venmo's end or your bank's end.
when ready transfers can fail if your bank rejects the transaction, usually because of fraud detection or because you have hit a transfer limit. If an when ready transfer fails, Venmo will return the money to your Venmo balance when ready, and you can try again or use a standard transfer instead. Your bank's fraud department may contact you to confirm the transfer was legitimate.
If money lands in your account but you did not start the transfer, or if you transferred money but it never arrived, contact your bank first — they can see the incoming transfer on their end and tell you whether it cleared. If your bank confirms the money arrived, it is in your account. If your bank says they never received it, contact Venmo support with the transfer details (the date, amount, and bank account used) and they can trace it.
Limits on how much you can transfer
Venmo does not publish a single transfer limit that applies to everyone. Instead, limits depend on your account age, verification status, and transfer history. A brand-new account may have a lower limit than an account that has been active for years. Venmo will show you your available transfer limit when you start a transfer, so you will know whether the amount you want to send is allowed.
If you hit your limit, you can wait — limits typically reset weekly or monthly — or you can contact Venmo support to request a higher limit. Providing more information about yourself (like a phone number, address, or ID verification) can sometimes increase your limit faster.
There is no limit on how many transfers you can make, only on how much you can transfer in a given period. So if your weekly limit is $5,000, you could make ten transfers of $500 each, or one transfer of $5,000, or any combination that adds up to $5,000 or less.
Frequently Asked Questions
Can I transfer money from a Venmo debit card to my bank account?
No. Transfers only work with money in your Venmo balance — the money you received from other people. A linked debit card is for adding money into Venmo, not for transferring out. If you added money to Venmo from your debit card and want it back, you would need to send it to someone else first, have them send it back to you, and then transfer it to your bank.
What if my bank is not listed when I try to link it?
Most banks appear in Venmo's list, but some smaller regional banks do not. If your bank is not listed, you can still link it by entering your routing and account numbers manually. The verification process works the same way — Venmo sends two small deposits, you confirm the amounts, and the account is linked.
Do I pay taxes on money I transfer from Venmo to my bank?
Transferring your own money from Venmo to your bank is not a taxable event. However, if the money in your Venmo balance came from someone paying you for goods or services (rather than a personal gift), that income may be taxable depending on the amount and your location. Venmo reports large transactions to the IRS, so keep records of what payments were for.
Can I transfer money from Venmo to someone else's bank account?
No. Transfers from Venmo go only to a bank account linked to your own Venmo profile. To send money to someone else's bank account, you would send it to them through Venmo first (if they have a Venmo account), and they would then transfer it to their own bank account.
How do I know if my transfer went through?
Open Venmo, tap your balance at the top, and look for "Transfers" — this shows all your recent transfers and their status. You can also check your bank account directly to see if the money arrived. If the Venmo app shows "completed" but your bank does not show the money, wait until the next business day, as banks sometimes display transfers with a delay.