Do payments sent to me automatically show up in my bank account?
Nope - whenever you receive a payment from one of your friends, the money is put in your Venmo balance. You need to initiate a bank transfer for the funds to be sent to your bank account. You can do that by tapping the "☰" icon in the upper left hand corner of the app then Transfer to Bank. Please note that transfers are reviewed which could cause a delay or for funds to be frozen or removed from your Venmo account.
Find out more about your Venmo balance here.
What is the limit on bank transfers?
If you’ve verified your identity with us, your weekly rolling limit for bank transfers is $19,999 ($2,999.99 per transfer). Your limit will be set at $999.99 if you haven’t verified your identity. To learn more about limits, or how to verify your identity, please see this article. As noted in Venmo’s User Agreement, these limits may change from time to time in Venmo’s sole discretion.
Can you rush my bank transfer?
Sorry - there’s not a way for us to expedite that process! Once you initiate the transfer, the funds leave our system and the funds are sent to your bank for processing. For more information about when you can expect to see those funds, please see this article.
Where is my bank transfer?
Missing your transfer in your bank account? It’s possible your bank could have back-dated the transfer to an unexpected date. We recommend checking your bank statement within a range of two days around the expected date that you were shown when you initiated the transfer. You should see something along the lines of “VENMO-0 CASHOUT”. If you’re still not seeing the funds in your bank account, check out this article for more information and ways to contact us about it.
What is the difference between Instant Transfer and Standard Bank Transfer?
There are two ways to get your money out of your Venmo balance:
- Instant transfer through your eligible debit card. This type of transfer incurs a 1% fee (with a minimum fee of $0.25 and a maximum fee of $10) is deducted from the transfer amount for each transfer and typically arrives within 30 minutes. Please see more information here.
- Standard transfer through the ACH network to your verified checking account (which is free but typically arrives 1-3 business days after you request the transfer.)
Please note, transfers are reviewed which may result in delays or funds being frozen or removed from your Venmo account. Learn more here.