Venmo allows you to pay and request money from your friends.
- Splitting a lunch bill
- Paying your friend half of a cab fare
- Sending your roommate your half of the rent
- Short on cash? Venmo your friend and they can pass you their cash!
Please see here for information on fees for using Venmo.
VENMO BALANCE
You can think of your Venmo balance like cash in your wallet that your friends have paid you. Any money living in your Venmo balance can be used to pay other users in Venmo, and can be sent to your bank account. A more detailed explanation of how your Venmo balance works can be found in one of our help articles.
FUNDING SOURCES
When setting up your Venmo account, one of the first things you do is decide how you want to pay people, also known as setting your funding source. In Venmo, you can pay people from any of the following:
- Your Venmo balance
- A credit/debit card (imagine being able to pay a friend directly from your credit card)
- A U.S. bank account
For more info on how to add funding sources, please see our articles about adding bank accounts and adding cards to your Venmo account.
PAYING & ACCEPTING REQUESTS FROM PEOPLE
At its core, Venmo provides a social way to pay your friends when you owe them money and don't want to deal with cash. Sending and requesting money to & from your friends is simple in Venmo, and you can even send money to people who don't have Venmo accounts yet by simply paying their phone number or email address (they'll just sign up to accept your payment). More info on how to pay & request funds from friends on Venmo can be found in our help articles.
Bank Transfers
Transferring money to your bank is simple once you connect your account to Venmo. Bank transfers that are submitted before 7 PM EST will typically be available in your bank account the next business day, excluding weekends and bank holidays. All withdrawals are reviewed by us and may be delayed or blocked if we identify a problem. You can find more information about transfer timelines in our help article.