Where to find the bank account settings in Venmo
Open the Venmo app on your phone and tap the three horizontal lines (called a menu icon) in the bottom right corner. This takes you to your account menu. Scroll down and tap Settings, then tap Payment Methods. You will see a list of any bank accounts, debit cards, or credit cards you have connected to Venmo. To change which bank account Venmo uses, you tap the one you want to use, and Venmo will make it your default.
If you want to remove an old bank account entirely instead of just switching to a different one, tap the account name, then look for a Remove or Delete button. Venmo will ask you to confirm before it removes the account.
Key Takeaways
- You reach bank account settings through the menu icon at the bottom right of the Venmo app, then Settings, then Payment Methods.
- You can have multiple bank accounts connected to Venmo at the same time, but only one can be your default for sending money.
- Changing your default account takes one tap — you do not need to remove the old one unless you want to.
- If Venmo is not showing a bank account you recently added, wait a few minutes and refresh the app, as new accounts sometimes take a moment to appear.
Adding a new bank account to Venmo
If you do not yet have a bank account connected to Venmo, or you want to add a second one, tap Add Payment Method at the top of your Payment Methods list. Choose Bank Account from the options that appear. Venmo will ask for your bank's name, your account number, and your routing number. Your routing number is a nine-digit code that identifies your specific bank branch — you can find it on the bottom left of any check you have from that account, or by calling your bank and asking.
After you enter this information, Venmo sends two small deposits (usually between 1 and 2 cents each) to your bank account. This is how Venmo confirms you actually own the account. You will see these deposits appear in your bank account within one to three business days. Once they arrive, go back to Venmo, tap the bank account you just added, and enter the two amounts Venmo sent you. After you confirm the amounts correctly, Venmo will mark that account as verified and you can use it right away.
Why Venmo needs to verify your bank account
The verification process — where Venmo sends you two tiny deposits — protects both you and Venmo. It proves that you own the bank account and that the account number you entered is correct. Without this step, someone could enter a different person's bank account number by mistake or on purpose, and money could end up in the wrong place.
The verification deposits are real money, even though they are very small. Your bank will show them in your account, and you keep them — Venmo does not ask you to send them back. The whole process usually takes three to five business days from start to finish.
Changing which account Venmo uses to send money
Every time you send money through Venmo, the app pulls the money from whichever bank account you set as your default. To change your default, go to Settings, tap Payment Methods, and tap the bank account you want to use instead. Venmo will ask you to confirm, and that account becomes your new default when ready.
You do not have to remove your old account to switch to a new one. Many people keep two or three bank accounts connected to Venmo and straightforward tap to switch between them depending on which account has money available or which one they want to use that day. The account you are not using as your default just sits there, ready to use whenever you tap it.
What to do if your bank account information changes
If you close the bank account you have connected to Venmo, or if your bank merges with another bank and your account number changes, you need to update Venmo. The fastest way is to remove the old account and add the new one. Go to Settings, tap Payment Methods, tap the old account, and tap Remove. Then tap Add Payment Method, choose Bank Account, and enter your new bank's information. You will go through the verification process again with the two small deposits.
If you straightforward changed banks but kept the same account number (which sometimes happens during a merger), you can usually just update the bank name in Venmo without removing the account. Tap the account in Payment Methods, look for an Edit option, and change the bank name. You may not need to re-verify, though Venmo sometimes asks you to confirm the account again just to be safe.
Troubleshooting when your bank account will not connect
If Venmo rejects your bank account information or says the account does not exist, the most common reason is a typo in your account number or routing number. Double-check both numbers against a recent check or your bank's website. Your routing number is always nine digits, and your account number is usually ten to twelve digits, though this varies by bank.
Some banks also block Venmo from connecting to them, or they require you to approve the connection through your bank's own app first. If you have entered the information correctly and Venmo still will not accept it, call your bank's customer service line and ask whether they allow Venmo connections. If they do, ask them to check whether Venmo's connection request is sitting in a queue waiting for your approval. A few banks use this extra security step.
If you have been waiting more than five business days for the verification deposits to arrive, contact Venmo's support team through the app. Tap the menu icon, scroll to the bottom, and tap Support. Describe the problem and Venmo can investigate whether the deposits were sent to the wrong account or got stuck somewhere.
Keeping your bank account information find on Venmo
Venmo stores your bank account number, but it does not show the full number to you or to other Venmo users. When you look at your Payment Methods list, you will see only the last four digits of your account number. This is intentional — it keeps your full account number private.
If you think someone else has gained access to your Venmo account, change your Venmo password when ready and remove any bank accounts you do not recognize. Then contact your bank directly and let them know there may have been unauthorized access. Your bank can monitor your account for suspicious activity and help you if any unauthorized transfers occurred.
Frequently Asked Questions
Can I use a savings account instead of a checking account with Venmo?
Yes, you can connect a savings account to Venmo. The process is the same — you enter your savings account number and routing number, and Venmo sends you two verification deposits. However, many people use checking accounts because transfers happen faster, and some banks charge a fee if you move money out of savings too many times in a month.
How long does it take for money to reach my bank account after I send it through Venmo?
If you send money to another Venmo user, it arrives in their Venmo account when ready. If you transfer money from Venmo to your bank account (called a withdrawal), it usually takes one to three business days, depending on your bank. Weekends and holidays do not count as business days.
What happens if I enter the wrong bank account number?
Venmo will not let you use the account until you verify it with the two small deposits. If you entered the wrong number, those deposits will go to someone else's account, and you will not be able to confirm them in Venmo. Remove that account and add the correct one instead. The deposits that went to the wrong account will stay there — you cannot get them back, but they are only a few cents.
Can I have more than one bank account connected to Venmo at the same time?
Yes. You can connect as many bank accounts as you want, and you can switch between them whenever you send money. Only one account can be your default, but you can tap any of your other accounts when you are sending money and Venmo will use that one instead.
Do I need to update my bank account information if I move to a different state?
No. Your bank account number and routing number stay the same no matter where you live. You do not need to update anything in Venmo if you move, as long as you keep the same bank account open.