Yes, you can transfer your Venmo balance to your bank account in one to three business days
Venmo holds money in your account until you move it out. To transfer your balance to a linked bank account, open the Venmo app, tap the three horizontal lines at the bottom right, select "Transfer to Bank," choose the amount, pick which bank account to send it to, and confirm. The money lands in your account within one to three business days, depending on your bank.
You can transfer any amount you have in your Venmo balance, including money people sent you and money you added yourself. The transfer is free if you use the standard timeline. Venmo also offers an instant transfer option that costs 1% of the amount you move (with a minimum fee of 25 cents), and the money arrives within 30 minutes.
Key Takeaways
- Standard transfers to your bank account take one to three business days and cost nothing.
- Instant transfers arrive within 30 minutes but cost 1% of the amount you move, with a 25-cent minimum fee.
- You must have a bank account linked to Venmo before you can transfer money out.
- Transfers only work from your Venmo balance to a U.S. bank account; you cannot transfer to a debit card or credit card.
- If a transfer fails, the money returns to your Venmo balance automatically.
How to link a bank account to Venmo if you haven't already
Open Venmo and tap the three horizontal lines at the bottom right. Select "Settings," then "Payment Methods." Tap "Add Bank Account" and enter your bank's routing number and your account number. You can find both on a check, or log into your bank's website to find them. Venmo will verify the account by depositing two small amounts (usually under a dollar each) into your bank account within one to two business days.
Once those deposits arrive, go back to Venmo, tap the bank account you added, and enter the two amounts to confirm ownership. After that, the account is active and you can transfer money to it. You can link multiple bank accounts and choose which one to send money to each time you transfer.
Standard transfers versus instant transfers
A standard transfer takes one to three business days and costs nothing. The timing depends on your bank—some process deposits faster than others. If you transfer on a Friday evening, the money may not land until Tuesday. Venmo processes the transfer immediately, but your bank controls when it shows up in your account.
An instant transfer arrives within 30 minutes and costs 1% of the amount you move. If you transfer $100, you pay $1. The minimum fee is 25 cents, so even a $10 transfer costs at least 25 cents. Instant transfers work seven days a week, including weekends and holidays. If you need the money urgently—to cover a bill or pay someone back the same day—instant transfer is the only option, but the fee adds up if you do it often.
What happens if a transfer fails or gets stuck
If Venmo cannot complete a transfer, the money returns to your Venmo balance automatically, usually within one to three business days. This happens most often when the bank account information is wrong, the account is closed, or your bank rejects the deposit for fraud prevention reasons.
If your bank rejected the transfer, contact your bank first to ask why. Banks sometimes flag transfers from payment apps as suspicious, especially if the account is new or the transfer is larger than usual. Once your bank confirms it will accept transfers from Venmo, try again. If the transfer still fails after two attempts, remove the bank account from Venmo and re-add it with the correct routing and account numbers.
If money is stuck in your Venmo balance and you cannot transfer it, contact Venmo support through the app. Tap the three lines, select "Help," then "Contact Us." Describe the problem and include the date you tried to transfer. Venmo support can see what went wrong and may be able to push the transfer through or refund the fee if the failure was on Venmo's end.
Transfers to accounts outside the United States
Venmo only transfers money to U.S. bank accounts. If your bank account is in another country, you cannot use Venmo's transfer feature. You also cannot transfer to a debit card, credit card, or prepaid card—only to a checking or savings account at a U.S. bank or credit union.
If you need to move money internationally, you will need to use a different service. Some options include Wise (formerly TransferWise), which specializes in international transfers and converts currency at the real exchange rate, or your bank's own international wire transfer service, though that is usually more expensive.
Timing and when transfers actually land
Venmo processes standard transfers immediately when you confirm them, but your bank controls when the money appears in your account. Most banks post deposits the next business day, but some take longer. Weekend and holiday transfers may not land until the following business day.
Business days are Monday through Friday, excluding federal holidays. If you transfer money on Friday at 5 p.m., Venmo sends it right away, but your bank will not process it until Monday. If Monday is a holiday, it may not land until Tuesday. Instant transfers bypass this delay—Venmo sends the money to your bank immediately, and it should show up within 30 minutes on any day of the week.
Fees and when you pay them
Standard transfers are free. You pay nothing to move money from Venmo to your bank account, no matter how much you transfer. Instant transfers cost 1% of the amount, with a 25-cent minimum. If you transfer $50 instantly, you pay 50 cents. If you transfer $10 instantly, you pay 25 cents.
The fee is deducted from your Venmo balance before the transfer is sent. If you have $100 in Venmo and you instantly transfer $50, you will see $49.50 arrive in your bank account (the $50 minus the $0.50 fee), and your Venmo balance will drop to $50. Venmo shows you the fee before you confirm the transfer, so you know exactly what you will receive.
Frequently Asked Questions
Can I transfer money from Venmo to someone else's bank account?
No. Venmo transfers only go to a bank account linked to your own Venmo profile. To send money to someone else's bank account, you would need to transfer it to your own bank first, then use your bank's bill pay or wire transfer service to send it to them. Or you can send money directly to another Venmo user through the app.
What if I transfer money but then realize I made a mistake?
If the transfer has not landed in your bank account yet, contact Venmo support immediately through the app. If the money has already arrived in your bank account, you will need to contact your bank to reverse it or move the money back to Venmo yourself. Venmo cannot reverse a transfer once your bank has processed it.
Do I have to transfer my entire Venmo balance, or can I transfer part of it?
You can transfer any amount you want, as long as you have that much in your Venmo balance. You do not have to empty your account. Many people keep some money in Venmo for regular peer-to-peer payments and transfer the rest to their bank.
Why is my transfer taking longer than three business days?
Check with your bank first—they control the final step. Some banks process deposits more slowly than others, especially if the account is new or if the bank flagged the transfer as suspicious. If it has been more than three business days and your bank says they have not received it, contact Venmo support with the transfer date and amount.
Can I set up automatic transfers from Venmo to my bank?
Venmo does not offer automatic recurring transfers. You have to initiate each transfer manually through the app. If you want money to move automatically, you could set up a transfer from your bank account to Venmo instead (for money you want to send to others), but the reverse does not work that way.