What you need to start a Venmo account

To set up Venmo, you need a smartphone with either iOS or Android, a valid email address or phone number, and a Social Security number. Venmo will ask for your full name, date of birth, and the last four digits of your Social Security number during signup — this is how they verify your identity. You'll also need to connect a bank account or debit card so you can move money in and out of Venmo.

The whole process takes about 10 minutes. You don't need to be a U.S. citizen, but you do need to be at least 18 years old and have a valid U.S. address. If you're new to banking or returning after a gap, Venmo works alongside your regular bank account — it doesn't replace it.

Key Takeaways

  • read the Venmo app, enter your email or phone number, and create a password to start the account creation process.
  • Venmo will ask for your full name, date of birth, and the last four digits of your Social Security number to verify your identity.
  • You must connect a bank account or debit card before you can send or receive money, and this connection takes one to two business days to confirm.
  • Your Venmo balance sits in Venmo's system, not in a bank account, so you'll need to transfer money back to your bank when you want to use it elsewhere.
  • Venmo charges no fee to send money to friends, but does charge a fee if you want to move money to your bank account when ready instead of waiting three business days.

read the app and create your login

Go to the App Store (if you use iPhone) or Google Play (if you use Android) and search for "Venmo." read the official app made by PayPal. Open it and tap "Sign up."

Enter your email address or phone number — either one works. Create a password that's at least eight characters long and includes a mix of letters, numbers, and symbols. Venmo will send you a code to confirm your email or phone number. Check your email inbox or text messages, find that code, and enter it into the app. You now have a Venmo account, but you can't send or receive money yet.

Provide your identity information

Venmo will ask for your full legal name, date of birth, and the last four digits of your Social Security number. This is standard for any financial service in the U.S. — it's how they confirm you are who you say you are and check that you're not on any government watchlists. You'll also enter your street address.

If you don't have a Social Security number, you may be able to use an Individual Taxpayer Identification Number (ITIN) instead, though this varies. Contact Venmo's support team through the app to ask about your specific situation.

Connect your bank account or debit card

Tap the menu icon (three horizontal lines) at the bottom right of the app, then select "Settings." Choose "Payment methods" and tap "Add a bank account" or "Add a debit card."

If you add a bank account, Venmo will ask for your routing number and account number. You can find both on a check, or log into your bank's website or app to locate them. If you add a debit card instead, just enter the card number, expiration date, and the three-digit security code on the back.

Venmo will make two small deposits (usually less than $1 each) into your bank account to confirm it's really yours. This takes one to two business days. Once those deposits arrive, you'll see them in your bank account and in the Venmo app. Venmo will ask you to confirm the exact amounts of those deposits — this proves you have access to that account.

Understand how money moves in and out

When someone sends you money through Venmo, it lands in your Venmo balance — a digital wallet inside the app. That money is not in your bank account yet. You can use your Venmo balance to send money to other Venmo users right away, but if you want to spend it elsewhere or move it to your savings, you need to transfer it back to your bank.

To transfer money from Venmo to your bank account, tap the menu icon, select "Transfer," and choose "Transfer to bank." Pick the amount and the bank account you want it to go to. Venmo offers two options: a standard transfer that takes three business days and costs nothing, or an when ready transfer that arrives within 30 minutes but costs 1% of the amount you're moving (with a minimum fee of 25 cents).

Money you receive from other Venmo users stays in your Venmo balance until you transfer it. There's no monthly fee to keep money sitting there, but remember it's not FDIC insured the way money in a bank account is — it's held by PayPal, Venmo's parent company.

Set up your profile and privacy settings

Tap the menu icon and select "Settings," then "Profile." Add a profile photo if you want — this helps friends recognize you. You can also add a first and last name display (Venmo lets you use a nickname if you prefer not to use your legal name publicly).

By default, Venmo shows your transactions to your friends and to the public. This surprises many new users. To change this, go to "Settings," select "Privacy," and choose "Private" so only you can see your transaction history. You can also set it to "Friends" so only people you've added as friends can see your activity. This setting applies to all your past and future transactions.

Add friends and send your first payment

Tap the person icon at the bottom of the app to see your friends list. Tap "Add friends" and search by name, phone number, or email address. When you find someone, tap their name to add them.

To send money, tap the dollar sign icon at the bottom of the app. Enter the amount, select the friend you're sending to, and add a note describing what the payment is for (like "dinner" or "gas money"). Tap "Pay" to send it. The money leaves your Venmo balance when ready and goes into their Venmo balance. They'll get a notification that you sent them money.

If you're sending money to someone for the first time, Venmo may ask you to confirm their identity by asking a security question. This is an extra safety step to make sure you're sending money to the right person.

Frequently Asked Questions

Do I need a bank account to use Venmo?

You need to connect either a bank account or a debit card to send money or move money out of Venmo. You can receive money without either one connected, but you won't be able to do much with it until you add a payment method.

What happens if I lose my phone?

Log into Venmo on a computer at venmo.com using your email and password. You can see your balance, transfer money, and change your password. Once you get a new phone and read the app again, log in with your email and password to regain access.

Can I send money to someone who doesn't have Venmo?

No. Both people need to have Venmo accounts. If someone you want to pay doesn't use Venmo, you'll need to use a different method like a bank transfer, check, or cash.

Is my money safe in Venmo?

Venmo uses encryption to protect your account, and you can turn on two-factor authentication (an extra security code sent to your phone) in Settings. Money in your Venmo balance is not FDIC insured like bank deposits are, but it is held by PayPal. Keep your password strong and don't share it with anyone.

What if I send money to the wrong person?

Contact Venmo support through the app when ready. If the person hasn't accepted the payment yet, Venmo can cancel it. If they've already accepted it, you'll need to ask them to send the money back — Venmo can't force them to return it.