The fastest way to transfer Venmo money to your bank account
You can move money from Venmo to your bank account in one to three business days using a standard transfer, or in minutes using an instant transfer. Standard transfers are free; instant transfers cost 1% of the amount you're moving (with a minimum of 25 cents). Both routes require you to link a bank account to Venmo first, and both move the full balance or any amount you choose.
The difference comes down to speed and cost. If you can wait a day or two, use the standard transfer and pay nothing. If you need the money today or tomorrow, use instant transfer and accept the 1% fee. Venmo does not hold your money or charge you to link an account—the only cost is the instant transfer fee if you choose it.
Key Takeaways
- Standard transfers from Venmo 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 transferred, with a 25-cent minimum fee.
- You must link a valid U.S. bank account or debit card to Venmo before you can transfer money out.
- Transfers initiated after 9 p.m. Eastern Time or on weekends may not process until the next business day.
- If a transfer fails, Venmo returns the money to your Venmo balance within one to three business days.
How to link your bank account to Venmo
Open the Venmo app and tap the three horizontal lines (menu) in the bottom right corner. Select Settings, then Payment Methods. Tap Add a Bank Account. Venmo will ask for your bank's routing number and your account number, which you can find on a check or by logging into your bank's website. Enter both, then tap Confirm.
Venmo will make two small deposits to your account—usually within one to two business days—each between 1 and 2 cents. Log back into your bank account, find those deposits, and return to Venmo's Settings. Select Confirm Bank Account and enter the exact amounts of both deposits. Once confirmed, your bank account is linked and you can transfer money out.
If you have already linked a debit card to Venmo, you can also transfer to that card instead of a bank account. The process is the same speed and cost as a bank transfer, but some debit cards may charge their own fees—check with your card issuer first.
Starting a standard transfer (one to three business days)
Tap the three horizontal lines in the bottom right, then select Transfer Money. Choose Transfer to Bank. Enter the amount you want to move, or tap Transfer Max to move your entire Venmo balance. Tap Next, confirm the bank account or debit card you want the money to go to, and tap Confirm.
The transfer is now in the queue. Venmo will show you an estimated arrival date on the confirmation screen. Standard transfers typically arrive within one to three business days, though the exact timing depends on your bank. Weekends and federal holidays do not count as business days, so a transfer you start on Friday evening may not arrive until Wednesday.
You can cancel a standard transfer up until it leaves Venmo's system—usually within a few hours of when you initiate it. After that, the money is in your bank's hands and you will need to contact your bank to stop it, which is often not possible.
Starting an instant transfer (within 30 minutes)
Tap the three horizontal lines, select Transfer Money, then Transfer to Bank. Enter the amount and tap Next. On the confirmation screen, you will see two options: Standard Transfer (free, one to three days) and Instant Transfer (1% fee, within 30 minutes). Select Instant Transfer.
Venmo will show you the exact fee before you confirm—for example, transferring $100 costs $1. Tap Confirm and the transfer begins immediately. The money should land in your bank account within 30 minutes, though it may take longer if your bank processes transfers slowly or if you initiate the transfer outside business hours.
Instant transfers are only available to Venmo accounts that have been active for at least 30 days and have completed at least one successful transaction. If you are new to Venmo, you will need to wait and make a payment or receive money first before you can use instant transfer.
What to do if a transfer fails or is delayed
If a transfer fails, Venmo will return the money to your Venmo balance within one to three business days. You will receive a notification explaining why it failed—usually because the bank account information was incorrect, the account was closed, or your bank rejected the transfer for security reasons.
Check the bank account number and routing number you entered. If they are wrong, delete the bank account from your Venmo settings and add it again with the correct information. If the information is correct, contact your bank to ask why they rejected the transfer. Some banks block transfers from payment apps like Venmo until you call and authorize them.
If a transfer is delayed beyond the estimated arrival date, wait one more business day before contacting Venmo. Bank processing times vary, and some transfers take the full three days even when initiated early in the business day. If it has been more than three business days since you initiated a standard transfer, or more than one hour since you initiated an instant transfer, contact Venmo support through the app and provide the transfer confirmation number.
Fees and limits on Venmo transfers
Standard transfers cost nothing. Instant transfers cost 1% of the amount transferred, with a minimum fee of 25 cents and a maximum fee of $25 per transfer. There is no limit to how many transfers you can make or how much total money you can move in a month, but Venmo may flag unusually large or frequent transfers and ask you to verify your identity.
Venmo's daily transfer limit is $50,000 per day for most accounts, though this limit can be lower if your account is new or if Venmo has flagged your activity. You can check your current limit in the app under Settings > Payment Methods. If you need to transfer more than the daily limit, you can split the transfer across multiple days.
Frequently Asked Questions
Can I transfer money to someone else's bank account using Venmo?
No. Venmo transfers only move money from your Venmo balance to a bank account or debit card linked to your own Venmo account. To send money to another person, you must send it to their Venmo account first, and they can then transfer it to their own bank account. You cannot bypass this step.
What happens if I transfer money but then change my mind?
For standard transfers, you can cancel within a few hours of initiating the transfer, before it leaves Venmo's system. Once it has left, contact your bank immediately—some banks can reverse transfers within 24 hours, but many cannot. For instant transfers, cancellation is usually not possible because the money arrives within 30 minutes. Act quickly if you need to stop one.
Why did my transfer fail even though my bank account information is correct?
Your bank may have rejected the transfer for security reasons, especially if you have never transferred from Venmo before or if the transfer amount is unusually large. Call your bank and ask them to allow transfers from Venmo, or ask if they need you to authorize the transfer in advance. Some banks also reject transfers if your account is flagged for suspicious activity.
Do I have to pay taxes on money I transfer from Venmo to my bank account?
Transferring your own money from Venmo to your bank is not a taxable event. However, if you received the money as payment for goods or services, you may owe taxes on that income. Venmo reports payments of $600 or more to the IRS, so keep records of what the money was for in case you need to report it on your tax return.
Can I set up automatic transfers from Venmo to my bank account?
Venmo does not offer automatic recurring transfers. You must initiate each transfer manually through the app. If you want money to move regularly, you can set a reminder to transfer on the same day each week or month, but there is no way to schedule it in advance or have it happen automatically.