How to transfer Venmo money to your bank account

To move money from Venmo to your bank account, you link a bank account to your Venmo profile, then use the app to initiate a transfer. The money goes into the account you've linked — usually within one to three business days, though Venmo offers a faster option that costs a small fee. The process takes about five minutes to set up the first time, and after that you can transfer whenever you want.

You'll need your bank's routing number and your account number to link the account. These appear on the bottom left of any check you have, or you can call your bank and ask. Once linked, Venmo stores this information securely and you won't need to enter it again.

Key Takeaways

  • Link your bank account to Venmo by entering your routing number and account number, which you can find on a check or by calling your bank.
  • Standard transfers take one to three business days and cost nothing; Venmo also offers a same-day option for a 1.75% fee.
  • You can only transfer money that is actually in your Venmo balance — not money owed to you by other users.
  • Venmo keeps your bank details encrypted and does not share them with other users or merchants.

Linking your bank account for the first time

Open the Venmo app and tap the three horizontal lines (called a menu) in the bottom right corner. Select "Settings," then "Payment Methods." Tap "Add a Bank Account." Venmo will ask you to choose between linking via your online banking login or entering your account details manually.

If you choose to log in through your bank's website, Venmo connects securely and pulls your account information automatically — this is the faster route if you remember your banking password. If you enter details manually, you'll type in your routing number, account number, and the name on the account. Either way, Venmo may ask you to confirm two small deposits (usually under $1 each) that appear in your account within a few days. You'll enter these amounts back into the Venmo app to prove you own the account.

Once confirmed, your bank account appears in your Payment Methods list and is ready to use. You can link multiple accounts if you have them at different banks.

Standard transfers versus when ready transfers

Venmo offers two ways to move money out. A standard transfer takes one to three business days and costs nothing. An when ready transfer lands in your account within 30 minutes but costs 1.75% of the amount you're sending (so transferring $100 costs $1.75). Which one makes sense depends on how urgently you need the money.

Standard transfers process on weekdays only, so if you initiate one on a Friday evening, it may not arrive until Monday or Tuesday. when ready transfers work every day, including weekends and holidays. If you're transferring a small amount — say $20 — the when ready fee might be 35 cents, which may be worth it if you need the money today. For larger amounts or if you can wait a few days, standard is free and makes more sense.

To choose which type, open Venmo, tap the money icon at the bottom, select "Transfer to Bank," choose your linked account, enter the amount, and then select either "Standard" or "when ready" before confirming.

What money can you transfer out

You can only transfer money that is sitting in your Venmo balance right now. If someone owes you money through Venmo but hasn't paid yet, that doesn't count — you have to wait for them to send it to you first, and then it appears in your balance and becomes transferable.

Money in your Venmo balance comes from three sources: transfers you've received from other Venmo users, refunds from merchants, or money you've transferred in from your bank account. You can transfer any of it back out to your bank account at any time, with no limit on how much or how often.

Security and what Venmo stores

Venmo encrypts your bank account information, which means it scrambles the data so that only Venmo's systems can read it. Your bank details are not visible to other Venmo users, and Venmo does not share them with merchants or third parties. When you send money to another person through Venmo, they see only your name and a note about the transaction — never your account number.

If you're concerned about a linked account, you can remove it from your Payment Methods at any time. Removing an account does not affect past transfers — money that has already left Venmo stays in your bank account. It only stops you from using that account for future transfers.

Troubleshooting transfers that don't arrive

If a standard transfer doesn't show up after three business days, check that you initiated it correctly by opening Venmo and looking at your transaction history. Tap the transfer to see its status — it should say "Complete" or "Pending." If it says "Pending" after three days, take a screenshot and contact Venmo support through the app (tap the menu, then "Help").

Sometimes a transfer fails because the bank account information changed or the account was closed. Venmo will usually notify you in the app if this happens. You can then link a different account and try again. If you linked the account through your bank's login and your password has changed since then, you may need to re-link by logging in again with your current password.

when ready transfers occasionally fail if Venmo's system detects unusual activity on your account. This is a fraud prevention measure. If this happens, Venmo will explain why in the app, and you can usually try again after a few hours or switch to a standard transfer instead.

Frequently Asked Questions

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

No. Venmo only lets you transfer money to a bank account that is linked to your own profile. To send money to another person's bank account, they would need to receive it through Venmo first, then transfer it themselves. Venmo is designed for peer-to-peer transfers between users, not for sending money directly to third-party accounts.

What happens if I transfer money and then close my bank account?

If you close the account after the transfer is complete, the money is already in that account and stays there — closing the account afterward doesn't pull it back. If you close the account before a pending transfer lands, the transfer will fail and the money returns to your Venmo balance. You can then link a different account and transfer again.

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

No. You can transfer any amount you want, as long as it's less than or equal to your current balance. You might transfer $50 one day and $30 the next. There's no minimum or maximum per transfer, and no limit on how many transfers you can do.

Is there a fee if my bank charges me for receiving transfers?

Venmo's fee (if you choose when ready transfer) is separate from any fee your bank might charge. Most banks do not charge a fee to receive transfers from Venmo, but a few do. Check your bank's fee schedule or call them to ask whether they charge for incoming transfers. If they do, that fee comes out of your account after the money arrives, not from Venmo.

Can I transfer to a savings account, or only checking?

You can transfer to either a checking or savings account, as long as it's linked to your Venmo profile. When you link the account, Venmo asks what type it is. The transfer process is the same either way.