Where to find the bank account settings in Venmo
Open the Venmo app and tap the three horizontal lines (menu icon) in the bottom right corner. Select Settings, then tap Payment Methods. You will see a list of any bank accounts, debit cards, or credit cards already linked to your account. To add a new bank account or change which one Venmo uses, tap Add Payment Method and choose Bank Account.
If you are on the web version of Venmo, log in and click your profile icon in the top right, then select Settings. Navigate to Payment Methods and follow the same steps. The process is identical on both platforms.
Key Takeaways
- You can add a new bank account to Venmo through Settings > Payment Methods > Add Payment Method, and Venmo will verify it with two small deposits within one to two business days.
- Venmo uses your linked bank account to fund transfers to other users and to receive money when you cash out your Venmo balance.
- If you want to remove an old bank account, go to Payment Methods, tap the account you want to delete, and select Remove — but you cannot delete the account Venmo is currently using to fund transfers.
- Changing your primary bank account does not affect money already in your Venmo balance; it only changes where new transfers and cash-outs go.
What information Venmo needs to verify your bank account
When you add a new bank account, Venmo will ask for your routing number and account number. You can find both on a check, or log into your bank's website or app to locate them. Venmo will also ask you to confirm your full name and the name on the bank account — these must match exactly, or verification will fail.
After you enter this information, Venmo sends two small deposits (usually between $0.01 and $0.99 each) to your bank account. These deposits arrive within one to two business days. Once they land, Venmo will ask you to enter the exact amounts of both deposits to confirm you own the account. Only after you verify these amounts can you use the account to send money or cash out your Venmo balance.
How long verification takes and what to do if it stalls
The verification deposits typically arrive within one to two business days, depending on your bank. Once you see them in your bank account, return to Venmo, go to Payment Methods, select the bank account you are verifying, and enter the two deposit amounts. Verification is usually instant after you submit the correct amounts.
If more than three business days have passed and you have not seen the deposits, check that you entered your routing and account numbers correctly. Log back into Venmo, tap the unverified account, and look for an option to re-enter or confirm the information. If the deposits still do not arrive after five business days, contact your bank to confirm they are not blocking small deposits from Venmo, then reach out to Venmo support through the app (tap the menu icon, then Help) to report the issue.
Removing an old bank account from Venmo
To delete a bank account, open Settings > Payment Methods, find the account you want to remove, and tap it. Select Remove and confirm. Venmo will not let you delete the account that is currently set as your primary funding source — the one Venmo uses when you send money or cash out. If you want to remove your current primary account, you must first add and verify a new bank account, set it as primary, and then delete the old one.
Removing a bank account does not affect any money already sitting in your Venmo balance. It only changes where future transfers and cash-outs will be sent. If you have pending transfers that were supposed to come from the account you just deleted, those transfers may fail, and Venmo will notify you and ask you to choose a different payment method.
Changing which bank account Venmo uses as your primary
If you have multiple bank accounts linked to Venmo, you can choose which one is your primary — the one Venmo pulls from when you send money and the one that receives money when you cash out your balance. Go to Settings > Payment Methods, tap the account you want to make primary, and select Set as Primary. The change takes effect immediately.
Your primary account must be verified before you can set it as primary. If you have just added a new account and are still waiting for the verification deposits to arrive, you cannot make it primary until you complete the verification step. Once verified, you can switch your primary account as often as you want with no penalty or fee.
What happens when you update your bank account
Changing your bank account does not interrupt any money currently in your Venmo balance — that balance stays in your Venmo account until you cash it out. When you do cash out, the money will go to whichever bank account is set as primary at that moment. If you send money to another Venmo user, Venmo will pull the funds from your primary account (or from your Venmo balance if you have enough sitting there).
If you update your bank account information because your old account is closed or compromised, make sure to remove the old account after you have verified and set a new one as primary. This prevents Venmo from attempting to use the closed account if something goes wrong with a transfer.
Troubleshooting common problems when updating your bank account
Your bank rejects the verification deposits: Some banks block small test deposits from third parties. Contact your bank and ask them to allow deposits from Venmo, or try adding the account again after a few days. If your bank consistently blocks Venmo, you may need to use a different bank account or link a debit card instead.
You entered the wrong routing or account number: Go back to Payment Methods, tap the unverified account, and select Edit or Update to correct the information. You will need to wait for new verification deposits to arrive.
You cannot remove your old account: This means it is still set as your primary. Add and verify a new account first, set it as primary, and then you will be able to delete the old one.
A transfer failed after you updated your account: Check that your new primary account is verified and has sufficient funds. If the transfer was supposed to come from an account you just deleted, Venmo will ask you to retry the transfer using a different payment method.
Frequently Asked Questions
Can I use a savings account or does it have to be checking?
Venmo accepts both checking and savings accounts. However, some banks process transfers more slowly from savings accounts, which may delay when money arrives in your account after you cash out. If speed matters, a checking account is usually faster.
What if my name on my bank account does not match my Venmo name exactly?
The name you provide when adding the bank account must match the name on the account at your bank. If your Venmo profile name is different (for example, a nickname), Venmo will still require the legal name that appears on the bank account itself. Mismatches will cause verification to fail.
Do I have to update my bank account if I just got a new debit card from the same bank?
No. Your bank account number and routing number do not change when you get a new debit card. You only need to update your bank account information if you switched to a different bank or closed the account entirely.
How many bank accounts can I link to Venmo?
Venmo allows you to link multiple bank accounts, though the exact number is not published. In practice, most users link one or two. You can only have one set as primary at a time, but you can switch between them whenever you want.
What if I update my bank account and then immediately try to send money?
If your new account is verified and set as primary, Venmo will pull from it right away. If it is not yet verified, Venmo will use your old primary account (if it still exists) or ask you to choose a different payment method. Unverified accounts cannot be used to fund transfers.