The basic steps to transfer Venmo to your bank
To move money from Venmo to your bank account, open the Venmo app, tap the three horizontal lines (menu), select "Transfer to Bank," choose your linked bank account, enter the amount, and confirm. The money lands in your bank account within one to three business days for standard transfers, or within 30 minutes for Instant Transfers (which cost 1% of the amount, with a minimum of 25 cents).
You must have a bank account linked to Venmo before you can transfer. If you haven't linked one yet, go to Settings, select "Payment Methods," tap "Add Bank Account," and follow the prompts to connect your checking or savings account. Venmo will verify the account by depositing two small amounts (usually under a dollar each) into it, which you'll need to confirm back in the app.
The money you're transferring must be in your Venmo balance—the account where payments from other users land. If someone sent you money through Venmo, it sits in that balance until you move it to your bank. You cannot transfer money directly from a linked debit or credit card; those cards are for adding money to Venmo, not withdrawing from it.
Key Takeaways
- Standard transfers take one to three business days and are free; Instant Transfers arrive in 30 minutes but cost 1% of the amount.
- You must link a bank account to Venmo first by confirming two small test deposits that Venmo sends to your account.
- Only money in your Venmo balance can be transferred out—not money on a linked card.
- Transfers initiated on weekends or holidays may not process until the next business day, even if you choose Instant Transfer.
Standard transfer vs. Instant Transfer: timing and cost
Venmo offers two ways to move money to your bank: the free standard route and the paid instant route. A standard transfer is free and takes one to three business days. Venmo processes these transfers on weekdays, so if you initiate one on a Friday evening, it may not leave Venmo until Monday, then take another one to three days to reach your bank. The exact timing depends on your bank's processing speed.
An Instant Transfer moves money to your bank within 30 minutes on any day, including weekends and holidays. The cost is 1% of the amount you transfer, with a minimum fee of 25 cents and a maximum of $10 per transfer. For example, transferring $100 costs $1; transferring $50 costs 50 cents. If you need the money urgently, the fee is often worth it. If you can wait a few days, standard transfer saves you money.
To choose which type, open the transfer screen in Venmo and you'll see both options before you confirm. The app shows you the fee upfront if you select Instant Transfer, so you know the exact cost before the money leaves your account.
What to do if your transfer is stuck or delayed
If your transfer hasn't arrived after three business days (for standard) or 30 minutes (for Instant), check your Venmo transaction history first. Open the app, find the transfer in your history, and tap it to see its status. Venmo will show whether it's pending, processing, or completed. If it shows completed but your bank hasn't received it, the delay is on your bank's end, not Venmo's.
Contact your bank directly if the transfer shows completed in Venmo but hasn't landed in your account. Provide your bank with the transaction date, amount, and Venmo's confirmation number (visible in the transaction details). Your bank can trace the incoming wire or ACH transfer and tell you where it is.
If the transfer is still pending in Venmo after three business days, or if you see an error message, contact Venmo support through the app. Go to Settings, tap "Support," select "Contact Us," and describe the issue. Venmo's support team can investigate whether the transfer failed and help you resend it. Keep your confirmation number and screenshots of the transaction status handy when you reach out.
Linked bank account requirements and verification
Venmo accepts checking and savings accounts from most U.S. banks, credit unions, and online banks. The account must be in your name and at a financial institution that accepts ACH transfers (nearly all do). You cannot link a money market account, investment account, or prepaid card to Venmo for transfers out.
When you first link an account, Venmo deposits two small amounts—usually between 1 and 5 cents each—into it. These appear in your bank account within one to two business days. You must then return to Venmo and confirm the exact amounts to verify you own the account. This step prevents fraud and ensures the account is real and accessible.
If you don't see the test deposits after two business days, check your bank's pending transactions or contact your bank to confirm the deposits were received. Some banks hold small deposits longer than others. Once you confirm the amounts in Venmo, the account is linked and ready for transfers.
Removing or changing your linked bank account
To remove a linked bank account from Venmo, go to Settings, tap "Payment Methods," find the account you want to remove, and select "Remove." Venmo will ask you to confirm. Once removed, you cannot transfer money to that account anymore, though Venmo may keep a record of it for security purposes.
To add a different bank account, follow the same linking process: go to Settings, select "Payment Methods," tap "Add Bank Account," and enter the new account details. You'll need to verify this new account with the two test deposits before you can transfer to it. You can have multiple bank accounts linked to Venmo at once, which is useful if you have accounts at different banks or want to transfer to a joint account sometimes and a personal account other times.
If you change banks, you don't need to remove your old account immediately—you can do it whenever you're ready. However, if your old bank account is closed, Venmo will reject any transfer attempts to it and show an error message. In that case, remove the old account and link your new one.
Fees, limits, and what happens if a transfer fails
Standard transfers are free. Instant Transfers cost 1% of the amount, minimum 25 cents, maximum $10. There are no other fees from Venmo for moving money to your bank. Your bank may charge a fee for receiving an incoming ACH transfer, though most do not—check your bank's fee schedule or call to ask.
Venmo does not publish a maximum transfer amount, but your bank may have limits on how much you can receive in a single ACH transfer. If you're transferring a large amount and it fails, try breaking it into smaller transfers or contact your bank to ask about their incoming transfer limits.
If a transfer fails—usually because the bank account information is wrong, the account is closed, or your bank rejected it—Venmo will return the money to your Venmo balance within one to three business days. You'll see a notification in the app explaining why it failed. Fix the issue (update your bank account, relink it, or verify it's still active) and try again. If the same transfer keeps failing, contact your bank to ask whether they're blocking Venmo transfers for security reasons.
Frequently Asked Questions
Can I transfer Venmo money to someone else's bank account?
No. Venmo transfers only go to a bank account in your own name. To send money to someone else, use Venmo's peer-to-peer payment feature to send it to their Venmo account, and they can transfer it to their own bank from there.
What if I initiated a transfer but need to cancel it?
If the transfer is still pending (hasn't left Venmo yet), you can cancel it through the app by tapping the transaction and selecting "Cancel Transfer." Once the transfer shows as completed or processing, it cannot be cancelled—the money is on its way to your bank and will arrive within the timeframe you selected.
Do I have to pay taxes on money I transfer from Venmo to my bank?
Transferring money from Venmo to your bank is not a taxable event by itself. However, if the money in your Venmo account came from payment for goods or services (not just peer-to-peer transfers from friends), you may owe taxes on that income. Venmo reports payments over $600 to the IRS, so keep records of what the money was for.
Why is my Instant Transfer taking longer than 30 minutes?
Instant Transfers initiated on weekends or holidays may not process until the next business day, even though the 30-minute clock starts when you initiate it. If you transferred on a Friday evening or Saturday, expect it Monday morning instead. Also, some banks take longer to post incoming transfers even after Venmo sends them, so check with your bank if it's been several hours.
Can I transfer Venmo money to a joint bank account?
Yes, as long as the joint account is in your name (you are one of the account holders). Link the joint account to Venmo using the same verification process, and you can transfer to it like any other account. Both account holders will see the incoming transfer.