What you need to open Venmo

To open a Venmo account, you need a US phone number, a valid email address, and either a Social Security Number or an Individual Taxpayer Identification Number (ITIN). Venmo is available only to people 18 and older. You will also need a bank account or debit card to link to Venmo so you can move money in and out — a credit card alone is not enough for most transfers.

The entire signup process takes about five minutes on the Venmo app or website. Venmo will ask you to verify your identity by confirming your phone number and email, and later by providing your date of birth and the last four digits of your Social Security Number or ITIN. This verification happens automatically in most cases, though Venmo may ask for additional documents if it cannot confirm your identity through its standard checks.

Key Takeaways

  • Download the Venmo app or visit venmo.com, enter your phone number and email, and create a password to start the signup process.
  • You must link a US bank account or debit card to Venmo before you can send or receive money, and this link takes one to two business days to verify.
  • Venmo will ask for your date of birth and the last four digits of your Social Security Number or ITIN during signup to verify your identity.
  • Your Venmo account starts with a zero balance; money does not appear until you transfer it from your bank account or someone sends it to you.
  • Transfers between Venmo accounts are instant and free, but moving money out to your bank account takes one to three business days and may have a small fee.

Step-by-step: creating your account

Open the Venmo app (available on iOS and Android) or go to venmo.com in a web browser. Tap or click "Sign up" and enter your phone number. Venmo will send you a code by text message — enter that code to confirm your number. Next, enter your email address and create a password. Your password must be at least eight characters long and include uppercase letters, lowercase letters, and numbers.

After you create your password, Venmo will ask for your first and last name, date of birth, and the last four digits of your Social Security Number or ITIN. Do not skip this step — Venmo uses this information to verify your identity and comply with federal anti-money-laundering rules. Once you submit this information, Venmo usually confirms your identity within minutes. If Venmo cannot verify you automatically, it will ask you to upload a photo of your driver's license or passport.

After identity verification, your account is active, but you cannot send or receive money yet. You must link a bank account or debit card first.

Linking 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 bank account" or "Add debit card." If you add a bank account, Venmo will ask for your routing number and account number — you can find these on a check or by logging into your bank's website. If you add a debit card, enter the card number, expiration date, and CVV.

After you enter your bank or card details, Venmo will verify the link by making two small deposits (usually under one dollar each) to your account. This verification takes one to two business days. Once the deposits appear in your bank account, go back to Venmo, tap "Confirm," and enter the amounts of those two deposits. After you confirm, your bank account or debit card is linked and ready to use.

You can link multiple bank accounts and debit cards to Venmo, but you can only set one as your default payment method. When you send money, Venmo will ask which linked account to pull from. When you receive money, it goes into your Venmo balance first — you then transfer it to your bank account if you want it there.

Understanding Venmo's balance and transfers

When someone sends you money through Venmo, it lands in your Venmo balance, not your bank account. Your Venmo balance is money held inside the Venmo app that you can use to send to other Venmo users or transfer to your bank. To move money from your Venmo balance to your bank account, tap the menu icon, select "Transfer to bank," choose the amount, and select which bank account to send it to. Standard transfers take one to three business days and are free. Instant transfers to a debit card cost 1% of the amount (minimum 25 cents, maximum $25 per transfer).

When you send money to another Venmo user, the transfer is instant and free — it comes directly from your linked bank account or your Venmo balance, depending on which you choose. Venmo will ask you to pick the payment method each time you send. If you send money to someone who does not have a Venmo account, they will receive an email or text asking them to claim it; unclaimed transfers expire after 30 days and return to your account.

Privacy settings and transaction visibility

By default, Venmo makes your transactions visible to other Venmo users — they can see who you sent money to, who sent money to you, and the note you wrote (but not the amount). This default setting surprises many new users. To change it, tap the menu icon, select "Settings," then "Privacy." You can set all future transactions to "Private" (visible only to you and the person you transacted with), "Friends" (visible to your Venmo friends), or "Public" (visible to everyone). You can also change the privacy setting on individual past transactions.

Many people set their transactions to "Private" to avoid broadcasting their financial activity. Keep in mind that changing your privacy setting does not hide transactions that are already public — you must go back and change each one individually if you want to hide them.

What happens if verification fails

If Venmo cannot verify your identity automatically, it will ask you to upload a photo of your government-issued ID — a driver's license, passport, or state ID card. Take a clear photo of the front and back of your ID and upload it through the app. Venmo reviews these documents within one to three business days. If your ID is unclear, expired, or does not match the information you provided, Venmo will ask you to resubmit.

In rare cases, Venmo may ask for additional documents, such as a utility bill or bank statement showing your name and address. If this happens, Venmo will tell you exactly what documents to send and where to send them. Do not ignore these requests — your account will remain limited until you provide what Venmo asks for.

Fees and limits on your new account

Sending money to another Venmo user is always free. Receiving money is always free. Transferring money from your Venmo balance to your bank account is free if you wait one to three business days; instant transfers cost 1%. Paying with a credit card through Venmo costs 3% of the amount. Venmo also sets limits on how much you can send and receive, especially when your account is new. Your first-week limit is usually $299.99 per week; this increases as your account ages and Venmo verifies more of your information.

If you hit your weekly limit, you cannot send or receive more money until the next week. The limit resets on Sundays. To increase your limit faster, make sure your identity is fully verified by providing your Social Security Number or ITIN and uploading a photo ID if Venmo asks for one.

Frequently Asked Questions

Can I use Venmo without a bank account?

No. You must link either a bank account or a debit card to Venmo before you can send or receive money. A credit card alone does not work for most transfers. If you do not have a bank account, you can open one at most banks or credit unions, or use a prepaid debit card linked to a checking account.

How long does it take to receive money from someone else?

Money sent from one Venmo user to another arrives instantly in the recipient's Venmo balance. If the recipient then transfers that money to their bank account, it takes one to three business days to appear there. Instant transfers to a debit card take minutes but cost 1%.

What if I send money to the wrong person?

If you send money to another Venmo user by mistake, you can request the money back through the app — tap the transaction, select "Request refund," and explain what happened. The other person can accept or decline your request. If they decline or do not respond within 30 days, you cannot force them to return it. For this reason, double-check the recipient's name before you send.

Is Venmo safe to use?

Venmo uses encryption to protect your account and transactions. Your bank account and debit card information is not stored on Venmo's servers — it is held by a third-party payment processor. That said, Venmo transactions are visible to other users by default, so avoid writing sensitive information in the note field. Set your transactions to "Private" if you want to keep them hidden from other Venmo users.

Can I use Venmo internationally?

Venmo is available only in the United States and requires a US phone number and US bank account. You cannot send money to or receive money from people outside the US through Venmo. If you need to send money internationally, you will need a different service such as a wire transfer or an international money transfer app.