To send payments on Venmo directly from your bank account, you’ll first need to verify that account. This article can tell you how.
It's best to verify your bank account before you transfer funds, to avoid any complications.
If you've entered the wrong account information, a couple of things could happen:
- Your bank will not be able to find your account and your bank transfer will fail. The money may be returned to us after a few days and put back into your Venmo account, but we cannot guarantee that will happen.
- If the bank does not return the transfer, the funds may be lost. Venmo is not responsible for lost transfers as a result of incorrect bank credentials. Your bank will be the best point of contact in this scenario.
How to verify your bank account on Venmo
There are two ways you can verify your bank account on Venmo:
Instant Verification
Venmo uses Plaid to verify your bank account information and, periodically, your bank account balance to check if you have enough funds to cover certain transactions. If your bank is eligible for instant verification, you'll be prompted to add your online banking username and password (or other identifying information) after selecting your bank.
- If you’re having trouble with instant bank verification, the best thing to do is contact your bank.
You can alternatively add your bank account manually, using your routing and account number combination. Simply select “Verify bank manually instead” instead of “Next” to continue with manual verification.
Manual Verification (with microtransfers)
When you add your bank account to Venmo manually (using your routing and account number), we'll send two small deposits and two withdrawals to your bank account to verify ownership (these will be less than $1 each).
These "microtransfer" amounts should offset each other, so there is no net change to your bank account balance. To avoid any overdraft or other bank fees, make sure you have at least $2 in your bank account.
You should see these deposits/debits in your bank account within 1-3 business days as separate items on your bank statement. Once you do, you can return to the Venmo app and follow these steps:
- Go to the Me tab
- In the Wallet section, tap on the bank you want to verify (it should say “Unconfirmed”)
- Tap “Verify” and enter the microtransfer amounts in the two “Amount” fields
- Tap “Verify” again to finish the process
If you'd rather use a computer, you can sign in on the Venmo website and visit www.venmo.com/verifybank to verify your bank account.
- If you don't see the microtransfer amounts after 3 business days, the bank account information may have been entered incorrectly. Learn more about what to do next if your bank was added incorrectly.