The four ways to fund your Venmo balance
You can add money to Venmo from a linked bank account, debit card, credit card, or by transferring from another payment app. A bank account transfer is free and takes one to three business days. Debit cards are instant but cost 1.75% of the amount you transfer. Credit cards charge the same 1.75% fee and are also instant. Transfers from PayPal, Square Cash, or other peer-to-peer apps depend on those services' own timelines and fees.
Most people use a bank account because it costs nothing and the delay does not matter for everyday payments. If you need money in your Venmo account right now—to split a bill tonight, for instance—a debit card is the fastest option, though you will pay a small percentage to do it.
Venmo also lets you receive money from other users, which adds to your balance instantly and costs nothing. That is not the same as funding your account yourself, but it is worth knowing if someone owes you money and you want it in Venmo rather than your bank.
Key Takeaways
- Bank account transfers to Venmo are free but take one to three business days to show up in your account.
- Debit card and credit card transfers cost 1.75% of the amount and arrive instantly.
- You must link a payment method to Venmo before you can transfer money; linking takes a few minutes and requires your card number or bank login.
- Once money is in your Venmo balance, you can send it to other users, use it to pay merchants, or transfer it back to your bank account at any time.
- Venmo does not charge a fee to transfer money out of your account back to your bank, and that transfer takes one to three business days.
How to link a bank account to Venmo
Open the Venmo app and tap the menu icon (three horizontal lines) in the bottom right corner. Select Settings, then Payment Methods. Tap Add a Bank Account. Venmo will ask you to log in to your bank's website or app through a secure connection—you enter your bank login credentials directly into your bank's system, not into Venmo. This is called bank verification, and it confirms you own the account.
After you log in, your bank will show Venmo a list of accounts you own. Select the one you want to link. Venmo will then make two small deposits (usually under $1 each) to that account over the next few days. Once those deposits arrive, go back to Settings and confirm the amounts. This two-deposit verification proves you control the account. After that, your bank account is linked and ready to use.
The whole process takes about five to ten minutes, but you cannot transfer money until the two test deposits have arrived and you have confirmed them—usually two to three business days later.
How to link a debit or credit card to Venmo
Open the Venmo app, go to Settings, then Payment Methods, and tap Add a Card. Enter your card number, expiration date, and CVV (the three-digit code on the back). Venmo will ask for your billing zip code to verify the card is yours. That is all—no test deposits, no waiting. Your card is linked immediately.
Credit cards and debit cards work the same way in Venmo: both charge 1.75% of the transfer amount. The difference is that a debit card pulls money directly from your checking account, while a credit card creates a charge you pay later. If you are trying to avoid credit card debt, use a debit card. If you want to earn rewards on the transfer, a credit card might make sense, though the 1.75% fee usually outweighs the reward.
How to transfer money into your Venmo balance
Once a payment method is linked, tap the ☰ menu and select Add Money. Choose the payment method you want to use. Enter the dollar amount. Review the fee (if any) and the total you will be charged. Tap Add to confirm.
If you used a bank account, the money will arrive in your Venmo balance in one to three business days. If you used a debit or credit card, it arrives instantly. You will see the transfer in your Venmo transaction history right away, even if the money has not landed yet.
Venmo will send you a notification when the transfer is complete. If you used a bank account and the transfer does not arrive within three business days, check your Venmo transaction history to confirm the transfer went through, then contact Venmo support with the transaction ID.
What happens if a transfer fails
A bank account transfer can fail if your account does not have enough money, if you entered the wrong account number, or if your bank blocked the transfer for security reasons. Venmo will notify you and the money will not leave your bank. Try again with the correct information, or contact your bank to ask why the transfer was blocked.
A debit or credit card transfer usually fails because the card number is wrong, the card has expired, or your card issuer declined the charge. Venmo will tell you which one. Fix the card information and try again. If your card issuer keeps declining, call the card company and ask them to allow Venmo transfers.
If a transfer is pending (showing in your history but not yet in your balance), do not try to transfer the same amount again. Wait for the first transfer to complete or fail. Duplicate transfers can cause overdrafts or fraud holds on your account.
How to move money out of Venmo
You can transfer money from your Venmo balance back to your linked bank account at any time. Tap the menu, select Transfer Money, then To Bank. Choose the bank account you want the money to go to, enter the amount, and confirm. The transfer is free and takes one to three business days.
You cannot transfer money from Venmo to a debit or credit card—only to a bank account. If you want to move money to a card, transfer it to your bank first, then use your card to withdraw cash or make a purchase.
Venmo also lets you send money directly to another Venmo user instead of transferring it to your bank. That is instant and free. If the person you are sending to does not have Venmo, they will receive a link and can cash out to their own bank account.
Frequently Asked Questions
Can I add money to Venmo with a gift card?
No. Venmo only accepts bank accounts, debit cards, and credit cards. If you have a gift card, you can use it to buy something or transfer the balance to your bank account through the gift card issuer's website, then link that bank account to Venmo.
Why is my bank account transfer taking longer than three days?
Weekends and holidays add time. If you initiated a transfer on a Friday, it may not arrive until Wednesday. If it has been more than three business days and the transfer still shows as pending, contact Venmo support with your transaction ID and they can investigate whether your bank is holding it up.
Do I have to keep money in my Venmo balance, or can I transfer it out right away?
You can transfer it out immediately. Many people add money to Venmo, send it to a friend, and never keep a balance. Others keep money in Venmo for convenience. There is no minimum balance and no fee for holding money there.
What if I want to add money but do not have a bank account?
You can use a debit card or credit card instead. Both charge 1.75% per transfer. If you do not have either, you can receive money from other Venmo users, but you cannot add your own funds to the account.
Is it safe to link my bank account to Venmo?
Venmo uses encryption and does not store your bank login. When you link an account, you log into your bank's website directly, and your bank tells Venmo whether the account is yours. Your actual password never goes to Venmo. That said, once your bank account is linked, anyone with access to your Venmo account can transfer money out, so use a strong Venmo password and enable two-factor authentication.