Why you need a bank account linked to Venmo
Venmo lets you send money to friends using your phone, but the money has to come from somewhere. When you link a bank account, you're telling Venmo where to pull money from when you pay someone, and where to send money when someone pays you. Without a linked bank account, you can only use money that's already sitting in your Venmo balance — which means you'd have to transfer money in first before you could send it out.
Linking your bank account also gives you more options. You can transfer money between your bank and Venmo when ready (or within one to three business days, depending on your bank), and you can set up direct deposit if your employer offers it. Most people link their checking account because that's where their regular money lives.
Key Takeaways
- You'll need your bank's routing number and your account number, both found on a check or through your bank's website or app.
- Venmo verifies new bank accounts by making two small deposits to your account, which takes one to two business days.
- Once verified, you can transfer money between your bank and Venmo when ready or within one to three business days depending on your bank.
- You can link multiple bank accounts to the same Venmo account, but only one can be your default for receiving money.
The step-by-step process to add your bank account
Open the Venmo app and tap the three horizontal lines (called a menu) in the bottom right corner. Tap "Settings," then "Payment Methods," then "Add a Bank Account." Venmo will ask you to choose between linking your account manually or connecting through your bank's website.
If you choose to link manually, you'll enter your bank's name, your account number, and your routing number. Your account number is the long string of digits on the left side of a check. Your routing number is the nine-digit code on the bottom left of a check — it's specific to your bank and branch. If you don't have a check, log into your bank's website or app and look for account details; most banks display both numbers there.
If you choose to connect through your bank's website, Venmo will redirect you to your bank's login page. You'll sign in there (not through Venmo), and your bank will ask you to confirm that you want Venmo to access your account information. This method is faster because your bank handles the verification automatically.
How Venmo verifies your bank account
If you linked manually, Venmo will make two small deposits to your bank account — usually less than a dollar each. These deposits arrive within one to two business days. You'll see them listed in your bank account with a code (something like "VENMO 123456"). You then go back to Venmo, tap "Confirm Deposits," and enter those two amounts. Once you do, your account is verified and ready to use.
If you connected through your bank's website, verification happens when ready. You don't have to wait for deposits or enter codes — your bank has already confirmed that the account belongs to you.
What to do if verification deposits don't arrive
If you don't see the two small deposits after three business days, check that you entered your account number and routing number correctly. Log back into Venmo, go to "Payment Methods," and look for your bank account. If it shows an error message, you can delete it and try again with the correct information.
If the numbers were correct and the deposits still haven't arrived, contact your bank's customer service. Ask them to check whether deposits from Venmo are being blocked or delayed. Some banks flag small deposits from unfamiliar sources as suspicious. Once your bank confirms the deposits went through, check your account again — they may have arrived but posted under a name you didn't recognize.
Linking multiple bank accounts and choosing your default
You can add more than one bank account to Venmo. This is useful if you have accounts at different banks or want to keep a checking account separate from a savings account. Each account goes through the same verification process.
When someone sends you money, it goes to your default bank account unless you change it. To set which account is your default, go to "Settings," then "Payment Methods," then tap the account you want to use as your default and select "Set as Default." You can change this anytime, but only one account can be the default at a time.
Transferring money between your bank and Venmo
Once your bank account is verified, you can move money in both directions. To transfer money from your bank to Venmo, open the app, tap the three lines, tap "Transfer," then "Add Money." Choose how much you want to transfer and which bank account to pull from. Venmo will show you whether the transfer will be when ready (usually free) or standard (one to three business days, also free). The speed depends on your bank — some banks process Venmo transfers when ready, others take longer.
To transfer money from Venmo back to your bank, tap the three lines, tap "Transfer," then "Transfer to Bank." Choose the amount and which bank account to send it to. Standard transfers take one to three business days and are free. when ready transfers cost a small fee (usually around 1% of the amount, with a minimum charge).
Security and what information Venmo can see
When you link your bank account, Venmo can see your account number and routing number, but not your online banking password. Your bank handles the login verification separately, so Venmo never has access to your password or your full account history.
Keep your Venmo password strong and different from your bank password. If someone gains access to your Venmo account, they could transfer money out of your linked bank account. Enable two-factor authentication in Venmo's settings — this means Venmo will text you a code when someone tries to log in from a new device, adding an extra layer of protection.
Frequently Asked Questions
Can I link a savings account instead of a checking account?
Yes. Venmo works with both checking and savings accounts. Savings accounts may take longer to process transfers because some banks treat them differently, but the linking process is the same. Check with your bank if you're unsure whether transfers to or from your savings account will work.
What if my bank isn't showing up in the list?
Smaller banks and credit unions sometimes don't appear in Venmo's dropdown list. Choose "Link Manually" instead and enter your routing number and account number. If you don't know your routing number, call your bank or check their website — every bank has one.
Do I have to use the same bank account for sending and receiving money?
No. You can set one account as your default for receiving money, but when you send money, you can choose to pull from any linked account. This gives you flexibility if you have money spread across multiple banks.
How long does it take to verify my bank account?
If you connect through your bank's website, verification is when ready. If you link manually, the two verification deposits take one to two business days to arrive, and then you enter the amounts to confirm — the whole process usually takes two to three business days total.
Can I remove a bank account after I've linked it?
Yes. Go to "Settings," then "Payment Methods," find the account you want to remove, and tap "Remove." If that account is your default, Venmo will ask you to choose a new default before you can delete it. You can re-add the same account later if you change your mind.