How to transfer money from Venmo to your bank account

To move money from Venmo to your bank account, open the Venmo app, tap the three horizontal lines (called a menu) at the bottom right, select "Transfer to Bank," choose the amount, pick which bank account to send it to, and confirm. The money usually arrives within one to three business days. You can transfer up to $19,999.99 per week, though Venmo may set a lower limit if your account is new.

The process is free if you choose the standard transfer option, which takes one to three business days. Venmo also offers an when ready transfer option that deposits money within 30 minutes, but this costs 1% of the amount you're transferring (with a minimum fee of 25 cents). Most people use the free standard option unless they need the money right away.

Key Takeaways

  • Standard transfers from Venmo to your bank account are free and take one to three business days.
  • You must link a bank account to Venmo before you can transfer money out, which requires your account and routing numbers.
  • when ready transfers cost 1% of the amount and arrive within 30 minutes, but the standard free option is available to most users.
  • Venmo limits you to $19,999.99 per week in transfers, though new accounts may have lower limits that increase over time.

Linking your bank account to Venmo

Before you can transfer money out, you need to tell Venmo which bank account to send it to. Open the app, tap the menu icon (three horizontal lines), go to "Settings," then "Payment Methods," and tap "Add Bank Account." You'll need your account number and routing number, both of which you can find on a check or by logging into your bank's website.

Venmo will ask you to confirm the account by depositing two small amounts (usually less than a dollar each) into your bank account. Check your bank statement a few days later, find those two deposits, and enter the amounts back into Venmo to verify you own the account. This step protects you by making sure someone can't link your bank account without your permission.

Once your bank account is verified, it will appear in your list of payment methods. You can link multiple bank accounts if you have them at different banks, and you can choose which one to send money to each time you transfer.

Starting a standard transfer

Open Venmo and tap the menu icon at the bottom right. Select "Transfer to Bank." The app will show your current Venmo balance at the top. Enter the amount you want to move, then tap "Next." Venmo will ask you to choose which bank account to send it to if you've linked more than one.

Review the details — the amount, the bank account it's going to, and the expected arrival date (usually one to three business days). Tap "Transfer" to confirm. You'll see a confirmation screen with a reference number. Take a screenshot or write down this number in case you need to contact Venmo about the transfer later.

The money leaves your Venmo balance when ready, but it won't show up in your bank account right away. One to three business days means it could arrive the next day or take until the end of the week, depending on your bank and when you initiated the transfer. Transfers made on weekends or holidays may take longer.

Using when ready transfer when you need money faster

If you need the money in your bank account within 30 minutes instead of waiting several days, Venmo offers when ready transfer. The process is the same as a standard transfer, except when you review the details before confirming, you'll see an option to "Transfer when ready" instead of the standard option. Tap that, and Venmo will show you the fee — 1% of the amount you're transferring, with a minimum of 25 cents.

For example, if you transfer $100 when ready, you'll pay $1. If you transfer $50, you'll pay 50 cents. The fee comes out of your Venmo balance, so if you have $100 in Venmo and transfer $100 when ready, you'll actually pay $101 total (the $100 transfer plus the $1 fee). Make sure you have enough in your Venmo account to cover both the transfer and the fee.

when ready transfers go to the same bank accounts you've already linked and verified. The money should appear in your bank account within 30 minutes on business days. If you transfer after business hours or on a weekend, it may arrive the next business day.

What to do if a transfer doesn't arrive

If your money hasn't shown up after the expected time, first check your bank account directly — sometimes transfers arrive but don't show a notification. Log into your bank's app or website and look at your recent deposits. If it's there, the transfer is complete.

If the money isn't in your bank account, open Venmo and check the transfer history. Tap the menu, go to "Settings," then "Support," and look for your transfer in the list. If it shows as "Completed," contact your bank — the money may be delayed on their end, or there could be a problem with how the account was linked. If it shows as "Pending," wait the full time window before contacting support.

If the transfer shows as failed or cancelled, the money should return to your Venmo balance within a few business days. If it doesn't, or if you see a transfer you didn't make, contact Venmo through the app by going to "Settings" > "Support" > "Contact Us" and describing the problem.

Transfer limits and how they work

Venmo sets a weekly limit of $19,999.99 for transfers to your bank account. This means you can move up to that amount per week, but not more. The week resets every seven days from when you made your first transfer. If you hit the limit, you'll have to wait until the next week to transfer more money.

New Venmo accounts often start with lower limits — sometimes as low as $100 or $500 per week. As you use Venmo responsibly over time, the limit increases. Venmo doesn't publish exactly how long this takes or what actions trigger an increase, but most accounts reach the full $19,999.99 limit within a few months of regular use.

If you need to transfer more than the weekly limit, you have two options: wait until the next week and transfer the rest, or contact Venmo to ask if they can raise your limit. There's no may provide they'll increase it, but asking costs nothing.

Frequently Asked Questions

Can I transfer money from Venmo to a bank account at a different bank than where I opened Venmo?

Yes. You can link any bank account you own to Venmo, regardless of which bank you use for Venmo itself. You'll need the account and routing numbers for the bank you want to transfer to, and you'll have to verify the account by confirming two small deposits.

What happens if I transfer money but then change my mind?

Once you confirm a transfer, you cannot cancel it. If you used standard transfer, the money is on its way and will arrive in one to three business days. If you used when ready transfer, it may already be in your bank account. Contact your bank to see if they can reverse it, though this is not always possible.

Do I have to pay taxes on money I transfer from Venmo to my bank?

Transferring your own money from Venmo to your bank is not a taxable event. However, if you received money on Venmo for goods or services you sold, that income may be taxable. Venmo reports large transactions to the IRS, so keep records of what payments were for.

Why is my transfer taking longer than three business days?

Delays usually happen because of how your bank processes deposits, not because of Venmo. Some banks are slower than others. If it's been more than five business days, contact your bank first to ask if the deposit arrived. If your bank says they never received it, then contact Venmo with your transfer reference number.

Can I transfer money from Venmo to a savings account instead of a checking account?

Yes. You can link any bank account you own — checking, savings, or money market — as long as you have the account and routing numbers. The process is the same, and transfers work the same way.