How to transfer money from Venmo to your bank account

You can move money from Venmo to a linked bank account in one of two ways: a standard transfer that takes one to three business days and costs nothing, or an when ready transfer that arrives within 30 minutes but charges a small fee (usually 1% of the amount, with a minimum of 25 cents). Both routes require you to have already linked a valid U.S. bank account or debit card to your Venmo profile.

The standard transfer is free and works with any U.S. bank account. The when ready transfer costs money but gets the funds to you when ready—useful if you need the cash today rather than waiting until Thursday. Which one you choose depends on whether you need the money now or can wait a few days.

Key Takeaways

  • Standard transfers from Venmo to your bank account are free and take one to three business days to arrive.
  • when ready transfers cost 1% of the amount you send (minimum 25 cents) but arrive within 30 minutes.
  • You must link a U.S. bank account or debit card to your Venmo profile before you can transfer money out.
  • Transfers only work during Venmo's operating hours (roughly 8 a.m. to midnight ET on weekdays), so timing matters if you choose when ready transfer.
  • If a transfer fails, Venmo will return the money to your Venmo balance within one to three business days.

Setting up a linked bank account

Before you can move money out of Venmo, you need to tell Venmo which bank account to send it to. Open the Venmo app, tap the three horizontal lines in the bottom right corner, then select Settings. Choose Payment Methods, then Add a Bank Account. Venmo will ask for your routing number and account number—both appear on the bottom left of any check from that account, or you can find them by logging into your bank's website.

Venmo will verify the account by depositing two small amounts (usually under a dollar each) into that account within one to two business days. Once those deposits arrive at your bank, go back to Venmo, tap the account you just added, and enter the two amounts Venmo sent. After you confirm them, the account is linked and ready to use.

If you want to use a debit card instead of a bank account, you can add that under Payment Methods as well. Debit card transfers work the same way as bank account transfers, though some banks process them slightly differently on their end.

Doing a standard transfer (free, takes 1–3 days)

Open Venmo and tap the money icon (usually in the bottom center of the screen). Select Transfer to Bank. Choose the bank account or debit card you want the money to go to, enter the amount, and tap Transfer. Venmo will show you a confirmation screen with the amount and the account it's going to—review it carefully, because once you confirm, the transfer starts when ready.

The money will leave your Venmo balance right away, but it won't show up in your bank account until one to three business days later. Weekends and bank holidays add time, so a transfer you send on Friday afternoon might not arrive until Tuesday. If you need the money sooner, use the when ready transfer option instead.

Doing an when ready transfer (costs 1%, arrives in 30 minutes)

The process is almost identical to a standard transfer, except you'll see an when ready option when you choose your destination account. Tap when ready, confirm the fee Venmo shows you (1% of the amount, rounded up), and tap Transfer. The money will leave your Venmo balance when ready and should arrive in your bank account within 30 minutes.

when ready transfers only work during Venmo's operating hours, which are roughly 8 a.m. to midnight ET on weekdays and 8 a.m. to 11 p.m. ET on weekends. If you request an when ready transfer outside those hours, Venmo will hold it and process it when the system comes back online. The fee still applies even if the transfer is delayed.

Not all bank accounts may have access to for when ready transfer. If you see only the standard option when you try to transfer, your bank either doesn't support when ready transfers or Venmo hasn't verified your account yet. Wait a few days and try again, or use the free standard transfer instead.

What to do if a transfer fails or gets stuck

If Venmo shows an error message during the transfer, the money stays in your Venmo balance and nothing leaves your account. Try the transfer again, or contact Venmo support through the app (tap the three lines, then Help, then Contact Us) to ask what went wrong.

If a transfer completes but never arrives at your bank after the expected time, check your bank account first to make sure it didn't go through without a notification. If it really didn't arrive, contact your bank and give them the date and amount of the transfer. Your bank can trace it on their end. At the same time, message Venmo support with the same information. Venmo will usually refund the money to your Venmo balance within one to three business days if the transfer failed on their side.

If your bank rejected the transfer (for example, because the account was closed), Venmo will send you a notification and return the money to your Venmo balance. You'll then need to update your linked bank account information and try again.

Fees and limits on transfers

Standard transfers are free. when ready transfers cost 1% of the amount you send, with a minimum fee of 25 cents and a maximum of $25 per transfer. So transferring $10 costs 25 cents (the minimum), transferring $100 costs $1, and transferring $2,500 costs $25 (the maximum).

Venmo doesn't publish a daily or monthly limit on how much you can transfer out, but your bank may have its own limits on how much money can enter your account in a single day. If you're moving a large amount, contact your bank first to make sure they won't block it.

Frequently Asked Questions

Can I transfer money from Venmo to someone else's bank account?

No. Venmo transfers only go to a bank account or debit card linked to your own Venmo profile. If you want to send money to someone else, you have to send it to their Venmo account first, and then they transfer it to their own bank account.

What if I don't have a bank account, only a debit card?

You can link a debit card to Venmo and transfer to that card the same way you would transfer to a bank account. The process and timing are the same. Some banks issue debit cards without a checking account, so this works for those situations.

Why is my when ready transfer taking longer than 30 minutes?

when ready transfers only process during Venmo's operating hours (roughly 8 a.m. to midnight ET weekdays, 8 a.m. to 11 p.m. ET weekends). If you request one outside those hours, Venmo queues it and processes it when the system comes back online. Your bank may also take extra time if it's a weekend or holiday.

Can I cancel a transfer after I've sent it?

Standard transfers can usually be canceled within a few minutes of sending, before the money actually leaves Venmo's system. when ready transfers cannot be canceled once they're processed. Open the app, find the transfer in your history, and look for a Cancel option. If you don't see one, the transfer has already left Venmo and you'll need to contact your bank to reverse it.

What happens if I transfer money to the wrong bank account?

Contact Venmo support when ready with the account details and the date of the transfer. Venmo cannot reverse a transfer that's already reached another bank, but they can document the error. You'll then need to contact the bank that received the money and ask them to return it—this process varies by bank and can take weeks. To avoid this, always double-check the account name and last four digits before confirming a transfer.