Transfer your Venmo balance to a linked bank account in one to three business days

To move money from Venmo to your bank account, you link a debit card or bank account to your Venmo profile, then initiate a transfer from the app. The money lands in your account within one to three business days for standard transfers, or within 30 minutes for instant transfers (which charge a small fee). You can transfer your full Venmo balance or any amount above the minimum.

The process itself takes about two minutes. The wait time depends on which transfer method you choose and whether your bank processes transfers on weekends or holidays.

Key Takeaways

  • Standard transfers take one to three business days and cost nothing; instant transfers arrive in 30 minutes but charge 1% of the amount (minimum 25 cents).
  • You must link a debit card or bank account to Venmo before you can transfer money out, and Venmo will verify the account with a small deposit.
  • Transfers initiated after 9 p.m. Eastern time or on weekends may not process until the next business day, depending on your bank.
  • If a transfer fails, Venmo returns the money to your Venmo balance within one to three business days, and you can try again with a different account.

Link a bank account or debit card before your first transfer

Open the Venmo app and tap the menu icon (three horizontal lines) in the bottom right. Select Settings, then Payment Methods. Tap Add a Bank Account or Add a Debit Card. If you choose a bank account, enter your routing number and account number (found on the bottom left of a check or through your bank's website). If you choose a debit card, enter the card number, expiration date, and CVV.

Venmo will verify the account by depositing two small amounts (usually under $1 each) into your bank account. Check your bank statement after one to two business days, then return to Venmo and enter those amounts to confirm the account is yours. Once verified, the account is ready to use for transfers.

You can link multiple bank accounts or debit cards. Venmo will ask which one you want to use each time you transfer, so you can choose based on which account you need the money in.

Choose between standard and instant transfers

Standard transfers are free and take one to three business days. The exact timing depends on when you initiate the transfer and your bank's processing schedule. A transfer sent on a Tuesday morning may arrive Wednesday or Thursday; one sent Friday evening may not arrive until Monday or Tuesday.

Instant transfers arrive within 30 minutes, but Venmo charges 1% of the amount you transfer, with a minimum fee of 25 cents. For example, transferring $100 instantly costs $1; transferring $20 instantly costs 25 cents. The fee is deducted from your Venmo balance before the transfer is sent, so if you have $100 in Venmo and choose instant transfer, $99 arrives in your bank account and $1 stays with Venmo as the fee.

Instant transfers are available only to accounts that have been verified and active for at least 14 days. If you just linked your account, you will need to wait before instant transfers become available.

Initiate the transfer from your Venmo balance

Open Venmo and tap the menu icon (three horizontal lines) in the bottom right. Select Transfers. Tap Transfer to Bank. Enter the amount you want to move (or tap Transfer Max to move your entire balance). Select which bank account or debit card to transfer to if you have linked more than one.

Choose Standard (free, one to three business days) or Instant (1% fee, 30 minutes). Review the amount and fee, then tap Transfer. Venmo will send a confirmation to your phone and email with the transfer ID and expected arrival date.

Once you tap Transfer, the money is committed. You cannot cancel a transfer after it has been initiated, though if it fails for any reason, Venmo will return it to your Venmo balance within one to three business days.

What to do if a transfer fails or does not arrive

If your bank rejects the transfer, Venmo will return the money to your Venmo balance and send you a notification explaining why. Common reasons include a closed account, a mismatch between the account number and the name on file, or insufficient routing information. Check your bank account details in Venmo and try again, or link a different account.

If you initiated a standard transfer and it has been more than three business days, contact your bank first—the delay may be on their end. Provide your bank with the transfer ID from your Venmo confirmation email. If your bank confirms they never received the transfer, contact Venmo through the app by tapping the menu icon, selecting Help, then Contact Us. Venmo will investigate and either resend the transfer or return the money to your balance.

Instant transfers that do not arrive within 30 minutes are rare, but if yours does not show up, wait until the next business day before contacting Venmo. Some banks process instant transfers on a delay if they arrive outside business hours.

Timing and limits for transfers

Venmo does not publish a daily or monthly transfer limit, but the company does monitor for unusual activity. If you transfer very large amounts frequently, Venmo may flag your account and ask you to verify your identity or provide information about the source of the funds. This is a compliance requirement, not a penalty.

Transfers initiated between 9 p.m. and 8 a.m. Eastern time may not process until the next business day, even if you choose instant transfer. Transfers initiated on weekends or federal holidays will not process until the next business day. If you need money urgently, initiate the transfer on a weekday morning.

Your bank may also impose its own limits on incoming transfers. Check your bank's policies if you plan to receive large or frequent transfers from Venmo.

Frequently Asked Questions

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

No. Venmo transfers go only to a bank account or debit card linked to your own Venmo profile. To send money to another person's bank account, you would need to send it to them through Venmo first (if they have a Venmo account), and they would then transfer it to their own bank account. Alternatively, use a different service like ACH transfer or wire transfer through your bank.

What happens if I transfer money but then need it back in Venmo?

Once a transfer has been initiated, you cannot cancel it. If the transfer has not yet arrived in your bank account, contact Venmo immediately through the app's Help section with your transfer ID. If the money has already arrived in your bank account, you would need to transfer it back to Venmo using the same process, which would incur another fee if you choose instant transfer.

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

Transferring your own money from Venmo to your bank account is not a taxable event. However, if the money in Venmo came from payment for goods or services (not a personal transfer from a friend), you may owe taxes on that income. Venmo reports payments over $600 to the IRS, so keep records of what the money was for.

Why is my transfer taking longer than three business days?

Check whether you initiated the transfer on a weekday morning or during a weekend or holiday. Also confirm with your bank that they received the transfer—provide them with the transfer ID from your Venmo confirmation email. If your bank has no record of it after three business days, contact Venmo through the app's Help section.

Can I use a credit card to transfer money out of Venmo?

No. Venmo accepts only debit cards and bank accounts for transfers out. If you linked a credit card to Venmo, it can only be used to add money to your Venmo balance, not to receive transfers from it.