How do I change my payment method on a payment?
You can switch your payment method before completing your payment. Here's how:
- Confirm the amount and note for your payment, and select the blue Pay button
- On the next screen, tap on the bank or card shown at the bottom (your Venmo balance may already be selected)
- Select the payment method you want to use
When you update your payment method for a single payment, it will automatically become your default for future payments.
Using Venmo Balance: If you have enough in your Venmo balance to cover the payment, we'll use it first. You won't be able to choose a bank or card instead
Preferred Payment Method: If your Venmo balance isn't enough, we'll charge the entire amount to your preferred payment method.
I need to change the payment method for a payment I already sent.
We always recommend double-checking your payment method before sending a payment. It's not possible to change the payment method used after sending a payment. The moment you send a payment on Venmo, the funds are authorized to be withdrawn from the selected payment method and made available to the recipient.
There is one exception to this rule:
- If you sent a payment using iMessage and it hasn’t been accepted yet, or it went to a “New User,” you will still have the option to cancel the payment
How do I view or change the payment method used for online purchases?
Certain merchants give you the option to pick your preferred payment method at checkout.
To view or edit your preferred payment method, follow these steps in the Venmo app:
- Go to the Me tab
- Tap the Settings gear
- Tap Connected business
- Select the individual merchant
If you don't see your payment method during checkout with a specific merchant, it's because they can't accept payments from that method. This could be due to network restrictions or the merchant requirements.
Some users have access to a Venmo balance, enabling you to use the money in your Venmo account for purchases. If you select your Venmo balance as your preferred payment method for online purchases, you may need to select a backup payment method.
Selecting a backup payment method will ensure your purchase is processed. Follow the steps below to select a backup payment method
How to select a backup payment method:
- Go to the Me tab
- Tap the Settings gear
- Tap Backup Payment
- Tap on the payment method you would like to use
- To enter a new payment method, tap Add bank or card
During checkout, you may need to choose or update your payment method. To do so, tap on the payment method displayed at the bottom of your screen.
Please review and confirm your payment before finalizing your purchase. You will not be able to change your payment method once the transaction is completed.