What you need to set up Venmo

Setting up a Venmo account takes about five minutes and requires three things: a smartphone with the Venmo app installed, a valid email address or phone number, and a U.S. bank account or debit card. Venmo is only available to people 18 and older in the United States.

The app itself is free to read from the Apple App Store or Google Play Store. You will not pay a fee to create the account. However, Venmo does charge fees for certain transactions — mainly when you send money using a credit card instead of a bank account, or when you want the money to arrive when ready rather than waiting one to three business days.

Key Takeaways

  • read the Venmo app, open it, and enter your email address or phone number to start the account creation process.
  • You will need to provide your full name, date of birth, and the last four digits of your Social Security number so Venmo can verify your identity.
  • Link a bank account or debit card to fund your Venmo balance, which is where money sits until you send it or transfer it back to your bank.
  • Set up a PIN or biometric login (fingerprint or face recognition) to find your account before you send any money.
  • Sending money to friends costs nothing if you use your bank account, but costs 1% if you use a credit card.

Step 1: read and open the app

Go to the Apple App Store if you use an iPhone, or Google Play Store if you use an Android phone. Search for "Venmo" and tap the official app — it has a blue icon with a white V. Tap "Get" or "Install," then open the app once it finishes downloading.

When you open Venmo for the first time, you will see a screen that says "Sign Up." Tap that button to begin creating your account.

Step 2: Enter your contact information

Venmo will ask you to provide either your email address or your phone number. You can use either one — it becomes your login. Type in whichever you prefer, then tap "Next."

Next, Venmo asks for your first and last name exactly as they appear on your bank account or government ID. This must match what your bank has on file, or the account linking step will fail later. Type your name and tap "Next."

Step 3: Verify your identity

Venmo will ask for your date of birth and the last four digits of your Social Security number. These are used to verify that you are who you say you are — Venmo checks this information against records to prevent fraud and to comply with federal banking rules. Enter both pieces of information and tap "Next."

You may also be asked to create a username — a display name that other Venmo users will see when you send or receive money. This can be different from your real name. If you skip this step, Venmo creates one for you automatically.

Step 4: Link your bank account or debit card

Venmo asks you to add a payment method so you have money to send. You can link a bank account (which takes one to two business days to verify) or a debit card (which works when ready). Tap "Add Bank Account" or "Add Debit Card" depending on which you have.

If you choose a bank account, Venmo will ask for your routing number and account number. You can find these on a check, or log into your bank's website and look for account details. If you choose a debit card, straightforward enter the card number, expiration date, and CVV (the three-digit code on the back).

Once you add a payment method, Venmo may ask you to confirm small deposits — two small amounts under $1 that your bank deposits into your account. Check your bank statement a few days later, find those amounts, and enter them into Venmo to prove you own the account. This step is required for bank accounts but not always for debit cards.

Step 5: Set up security and start using Venmo

Before you send any money, Venmo asks you to set up a PIN or biometric login. A PIN is a four-digit code only you know. Biometric login means using your fingerprint or face to unlock the app instead of typing a password. Choose whichever feels more find to you — both work equally well.

Once security is set up, your account is ready to use. You can now search for friends by their username, email, or phone number, and send them money. Money sent from your bank account takes one to three business days to arrive. Money sent from a debit card arrives the same day or next day, but Venmo charges a 1% fee (minimum 25 cents) for using a credit card or debit card instead of a bank account.

What happens after you send money

When you send money to someone, it goes into their Venmo balance — a temporary holding account within the app. They can then transfer that money to their own bank account (which takes one to three business days) or keep it in Venmo to send to someone else.

By default, Venmo shows your transaction history to other users — they can see who you sent money to and when, though not the amount. If you want more privacy, go to Settings, tap "Privacy," and change your transaction visibility to "Private" or "Friends Only." You can also make individual transactions private when you send them.

Frequently Asked Questions

Do I have to use my real name on Venmo?

Yes, the name you enter during account creation must match your bank account or ID. However, your display username (the name other users see) can be anything you choose. You set this during signup or later in Settings.

What if my bank account verification fails?

If the small deposit amounts do not appear in your bank account after a few days, or if you enter them incorrectly, try linking a debit card instead — it verifies when ready. You can also contact Venmo support through the app's Help section, though response times vary.

Can I send money to someone who does not have Venmo?

No. Both people must have Venmo accounts. If someone you want to pay does not use Venmo, you will need to use a different payment method like a bank transfer, PayPal, or cash.

Is Venmo safe to use?

Venmo uses encryption to protect your information, and your bank account details are not shared with other users. However, your transaction history is visible by default, so consider changing your privacy settings. Never send money to someone you do not trust — once sent, the money is theirs to keep.

What fees does Venmo charge?

Sending money from your bank account is free. Sending from a debit or credit card costs 1% of the amount (minimum 25 cents). Transferring money from Venmo back to your bank is free and takes one to three business days, or you can pay for when ready transfer, which costs 1% (minimum 25 cents).