The fastest way is to link your bank account and use the standard transfer option, which takes one to three business days and costs nothing

Open the Venmo app, tap the three horizontal lines (menu) in the bottom right, then select Settings. Go to Payment Methods and choose Add Bank Account. Enter your routing number and account number — you can find both on a check, or log into your bank's website to locate them. Venmo will verify the account by depositing two small amounts (usually under a dollar each) into your bank account within one to two business days. Once verified, you can transfer money out.

To move money out, tap the ☰ menu, select Transfer to Bank, choose the amount, and confirm. The money will arrive in your linked bank account in one to three business days. There is no fee for this standard transfer. If you need the money faster, Venmo offers an when ready transfer option that deposits money within 30 minutes, but this costs 1.75% of the amount you transfer (with a minimum fee of 25 cents).

Key Takeaways

  • Standard transfers to a linked bank account are free and take one to three business days, while when ready transfers cost 1.75% and arrive within 30 minutes.
  • You must verify your bank account by confirming two small deposits Venmo makes to it, which takes one to two business days before you can transfer money out.
  • Your routing number and account number appear on a check or in your bank's online portal, and you will need both to link your account.
  • Venmo does not allow transfers to accounts held in someone else's name, so the bank account must be registered to you.

What information you need before you start

Have your bank account details ready. You will need your routing number (a nine-digit code that identifies your bank) and your account number (the number of the specific account you want to transfer to). Both appear on the bottom left of a check. If you do not have checks, log into your bank's website or app — most banks display routing and account numbers in the account details section, sometimes labeled "Account Information" or "Bank Details."

Make sure the account is in your name. Venmo will not transfer money to a joint account, a business account, or an account held by someone else, even if you have access to it. The name on your Venmo account must match the name on the bank account you are linking.

How to verify your bank account

After you enter your routing and account numbers, Venmo deposits two small amounts into your bank account — usually between 1 and 99 cents each. This happens within one to two business days. Check your bank statement or your bank's app to find these deposits and note the exact amounts.

Return to Venmo, go back to Settings > Payment Methods, and select the bank account you just added. Tap Verify Account and enter the two amounts you found. Once Venmo confirms them, your account is verified and you can transfer money out when ready. If you do not see the deposits after two business days, contact your bank to confirm the account number was entered correctly.

Standard transfer versus when ready transfer

A standard transfer is free and takes one to three business days. The money lands in your bank account on a weekday — transfers initiated on Friday evening or over the weekend will not arrive until the following Monday or Tuesday. This is the option most people use because there is no cost.

An when ready transfer costs 1.75% of the amount transferred, with a minimum fee of 25 cents. The money arrives within 30 minutes, even on weekends and holidays. For example, transferring $100 when ready costs $1.75. when ready transfers are useful if you need cash urgently, but the fee adds up quickly if you transfer often.

What to do if your transfer does not arrive

If a standard transfer does not arrive within three business days, first check that you entered the correct routing and account numbers. Log into your bank's website or app and confirm the account details match what you entered in Venmo. If they do not match, contact Venmo support with a screenshot of your bank account details and the transfer confirmation from Venmo.

If the details are correct but the money still has not arrived, contact your bank's customer service. Provide them with the transfer date and amount from Venmo. Your bank can trace the transfer and tell you whether it was received. In rare cases, a transfer may be rejected if your bank flags it as suspicious — your bank will contact you directly if this happens, and you can confirm the transfer was legitimate.

Removing or changing your linked bank account

To remove a bank account from Venmo, go to Settings > Payment Methods, select the account, and tap Remove. You can add a different account at any time. If you want to change which account receives transfers, straightforward add the new account, verify it, and use that one for future transfers. You do not need to remove the old account unless you want to.

If your bank account number changes — for example, if you close an account and open a new one at the same bank — you will need to add the new account to Venmo and verify it before you can transfer to it. Venmo does not automatically update account numbers if your bank changes them.

Limits on how much you can transfer

Venmo sets weekly transfer limits that vary based on how long you have used the app and whether you have verified your identity. New users typically can transfer $300 to $1,000 per week. As you use Venmo longer and verify more information (like your Social Security number or a government ID), these limits increase. You can check your current limit in Settings > Limits.

If you hit your weekly limit, you can transfer again the following week. There is no way to raise your limit when ready, but limits reset every seven days. If you regularly transfer large amounts, consider verifying your full identity in Venmo's settings — this usually raises your limit significantly.

Frequently Asked Questions

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

No. Venmo only allows transfers to a bank account in your own name. If you want to send money to someone else, you must send it to their Venmo account first, and they can then transfer it to their own bank account. You cannot bypass this by using their bank details.

What if I enter the wrong routing or account number?

If you enter an incorrect number, the transfer will be rejected and the money will return to your Venmo balance within one to three business days. You will not lose the money. straightforward add the correct bank account and try again. If the money does not return, contact Venmo support with the transfer confirmation.

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 the money in Venmo as payment for goods or services, that income may be taxable. Venmo reports payments over $600 to the IRS, so keep records of what the money was for.

Can I transfer to a savings account instead of a checking account?

Yes. Venmo transfers to any bank account — checking, savings, or money market — as long as it is in your name and the account accepts transfers. Enter the routing and account number for whichever account you want to use, and the process is the same.

Why is my bank account not showing up as an option to transfer to?

The account may not be verified yet. After you add a bank account, Venmo deposits two small amounts that you must confirm before the account becomes active for transfers. This takes one to two business days. If more than two days have passed and you still do not see the deposits, the routing or account number may be incorrect — try removing the account and adding it again with the correct details.