Direct Deposit FAQ

How do I set up Direct Deposit?

You have the ability to add funds to your Venmo account using Direct Deposit if you have completed the required identity verification and if you are otherwise eligible for Direct Deposit. We determine eligibility for Direct Deposit in our sole discretion. If you are eligible for Direct Deposit, you are able to access the feature in the “Settings” tab of the Venmo App. To set up Direct Deposit, please follow the steps below: 

• In your Venmo app, tap the "☰" icon, and then click on Settings → Direct Deposit
• Tap Show Account Number to get your Venmo account info along with the routing number that appears on the screen
• Copy both numbers and use them to fill out your employer’s Direct Deposit form

If you're asked to provide the name or address of your bank when filling out your Direct Deposit form, give them the name and address of Venmo's FDIC-insured partner bank:

The Bancorp Bank

6100 S Old Village Pl

Sioux Falls, SD 57108

The account and routing number associated with this feature are for incoming payments only and cannot be used for outgoing purchases or payments.

What is Direct Deposit?

Direct Deposit is a feature that allows eligible users to add all or a portion of their paycheck to their Venmo account electronically. Setting up Direct Deposit allows you to avoid the hassle of waiting for and cashing paper checks. 

When will I receive my Direct Deposit funds?

The exact arrival time of funds sent using Direct Deposit can vary by employer. It may take up to two pay cycles for the Direct Deposit feature to take effect. 

Certain employers and payroll providers may send funds through Direct Deposits 1-2 days in advance of payday. It is up to your employer to submit paycheck information early. Please note that the time that your employer submits your paycheck information may vary by pay cycle. Venmo will post funds added through Direct Deposit to your account as soon as we receive notice from your employer.

If you expected to receive funds in your Venmo account through the Direct Deposit feature and you did not receive such funds, please reach out to your employer to confirm that the payment was sent. Note: we do not receive this information instantly, so there will be some delay between the payment being sent by your employer and the payment arriving to Venmo. Funds sent through Direct Deposit may be delayed in the event of a federal or bank holiday. 

Can I use my account and routing number to withdraw money from my Venmo account?

At this time, your Venmo account number and routing number can only be used to add funds into Venmo. 

What if I no longer want to use Direct Deposit for my Venmo account?

If you would like to stop adding funds to your Venmo account using Direct Deposit, or change the amount you add, you’ll need to notify your employer. It can take 1-2 payroll cycles for changes to take effect, once your employer has received and processed your request.  

How do I find my account/routing number?

Your account number and routing number can be found in the Venmo mobile app. Tap the “☰" icon at the top of the app, and then click Settings. Then tap Direct Deposit to view your account number and routing number. 

How long will it take until my first Direct Deposit will be added to my account?

It can take 1-2 payroll cycles for Direct Deposit to take effect once your employer has received and processed your request.

Are my funds FDIC insured?

Learn more about FDIC insurance and Venmo’s Direct Deposit feature here.