The fastest way is to use Venmo's standard transfer, which takes one to three business days and costs nothing
Open the Venmo app, tap the three horizontal lines in the bottom right corner, then select "Transfer Money." Choose "Transfer to Bank" and enter the amount you want to move. Venmo will show you which bank account is linked to your profile. Confirm the transfer, and the money leaves your Venmo balance and arrives in your bank account within one to three business days, depending on your bank's processing speed.
If you need the money faster, Venmo offers an when ready transfer option that deposits funds in minutes, but this costs 1.75% of the amount you transfer (with a minimum fee of 25 cents). The standard transfer is free and works for most situations where you can wait a few days.
Before you transfer anything, make sure you have a bank account linked to Venmo. If you haven't done this yet, go to Settings, select "Payment Methods," and add your bank account by entering your routing number and account number. Venmo will verify the account with two small deposits—this takes one to two business days.
Key Takeaways
- Standard transfers from Venmo to your bank account are free and take one to three business days to complete.
- You must have a bank account linked to your Venmo profile before you can transfer money out.
- when ready transfers cost 1.75% of the amount and deposit within minutes if you need the money right away.
- Venmo verifies new bank accounts with two small test deposits, which delays your first transfer by one to two business days.
- The transfer process happens entirely within the Venmo app—you do not need to contact your bank or Venmo support unless something goes wrong.
What happens if your bank account is not yet linked
If you try to transfer money and see a message that no bank account is on file, you need to add one first. Go to the Venmo app, tap the three lines at the bottom right, select "Settings," then "Payment Methods," and choose "Add Bank Account." You will need your routing number and account number, which you can find on a check, your bank's website, or by calling your bank's customer service line.
After you enter this information, Venmo sends two small deposits to your bank account—usually between 1 and 10 cents each. These deposits appear in your bank account within one to two business days. Once they arrive, you go back into Venmo, confirm the amounts of those two deposits, and your account is verified. Only then can you transfer money out.
This verification step protects both you and Venmo by confirming you actually own the bank account. It is a one-time process—once your account is verified, future transfers happen when ready.
Standard transfer versus when ready transfer: when to use each
A standard transfer is free and takes one to three business days. Use this when you are not in a hurry—for example, if you are moving money to savings or paying a bill that is not due for several days. Most people use standard transfers because the cost is zero.
An when ready transfer costs 1.75% of the amount you send and deposits within minutes. If you transfer $100, you pay $1.75. If you transfer $1,000, you pay $17.50. Use when ready transfer only when you need the money the same day—for example, if you are paying an emergency expense or need cash quickly. The fee is worth it only in situations where waiting a few days is not an option.
Both types of transfer are one-way: money moves from Venmo to your bank, not the other way around. If you need to add money to Venmo, you link your bank account as a funding source instead, which is a different process.
Why your transfer might be delayed or rejected
Standard transfers usually arrive within one to three business days, but several things can slow this down. If you initiate a transfer on a weekend or holiday, the clock does not start until the next business day. If your bank is slow to process incoming transfers, it might take the full three days even though Venmo sent it when ready. Some banks, particularly smaller regional banks, take longer than others.
A transfer can be rejected if your bank account information is wrong, if your bank flags the incoming transfer as suspicious, or if your Venmo account has a security hold. If a transfer fails, Venmo sends the money back to your Venmo balance within one to three business days. You will see a notification in the app explaining why it was rejected.
If your bank rejected the transfer, contact your bank directly—they may have flagged it as fraud or may need you to confirm the incoming deposit. If Venmo rejected it, check that your bank account information is correct in your Payment Methods settings. You can then try the transfer again.
How to check the status of a transfer in progress
Open the Venmo app and tap the three lines at the bottom right. Select "Transfers" to see a list of all transfers you have initiated. Each transfer shows the date, amount, and current status. A transfer marked "Pending" is on its way to your bank. A transfer marked "Completed" has arrived in your bank account.
If a transfer is still pending after three business days, check your bank account directly to see if the money arrived anyway—sometimes Venmo's app shows "Pending" even after your bank has received the funds. If the money is not in your account and the transfer still shows as pending, contact Venmo support through the app by tapping "Help" and describing the issue.
Removing or changing your linked bank account
If you want to transfer money to a different bank account, you need to add that account to Venmo first. Go to Settings, select "Payment Methods," and tap "Add Bank Account." Enter the new account's routing and account numbers. Venmo will verify it with two small test deposits, which takes one to two business days. Once verified, you can choose that account when you initiate a transfer.
You can keep multiple bank accounts linked to Venmo. When you start a transfer, Venmo shows you all linked accounts and lets you pick which one receives the money. If you want to remove an old account entirely, go to Payment Methods, find the account, and select "Remove." This does not affect transfers you have already completed—those money is already in the old account.
Frequently Asked Questions
Can I transfer money from Venmo to someone else's bank account?
No. Venmo transfers only move money from your Venmo balance to your own linked bank account. If you want to send money to another person, you send it through Venmo's peer-to-peer payment feature, and they receive it in their Venmo balance. They would then transfer it to their own bank account if they want it in their bank.
What if I transfer money but then realize I made a mistake?
If the transfer is still pending, contact Venmo support when ready through the app and request a cancellation. If the transfer has already completed and the money is in your bank account, you cannot reverse it through Venmo—you would need to contact your bank to attempt a reversal, though this is not always possible.
Do I 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 through Venmo for goods or services (not as a gift from a friend), that income may be taxable. Venmo reports certain transactions to the IRS, so keep records of what money was for.
Why does Venmo charge a fee for when ready transfer but not standard transfer?
Standard transfers use the regular banking system, which is free for Venmo to process. when ready transfers use a faster payment network that costs Venmo money, so they pass that cost to you. The 1.75% fee covers Venmo's cost to move your money when ready instead of waiting for the standard banking cycle.
Can I set up automatic transfers from Venmo to my bank?
Venmo does not offer automatic recurring transfers. You have to initiate each transfer manually through the app. If you want money to move automatically, you could set up a transfer from your bank to savings instead, or use your bank's bill pay feature to move money between your own accounts.