Transfer your Venmo balance to your linked bank account through the app in two to three business days, or use Venmo's instant transfer option to move money the same day for a small fee.
Venmo holds your balance in a Venmo account, not a bank account. To get that money into your actual bank, you initiate a transfer from the Venmo app to a bank account you've already linked. The standard transfer takes two to three business days and costs nothing. If you need the money faster, Venmo offers instant transfers that land in your account within 30 minutes, but charges between 1% and 2% of the amount you're moving.
The process itself takes less than a minute once your bank account is connected. You don't need to contact Venmo or your bank—the app handles the whole thing. But there are limits on how much you can transfer at once, and some transfers can fail if your bank information is outdated or if Venmo flags the transaction.
Key Takeaways
- Standard transfers from Venmo to your bank account take two to three business days and have no fee, but instant transfers cost 1% to 2% and arrive within 30 minutes.
- You must link a bank account to Venmo before you can transfer money out, which requires your routing number and account number.
- Venmo limits standard transfers to $19,999.99 per transfer, though you can make multiple transfers if you have a larger balance.
- If a transfer fails, check that your bank account information is current and that you haven't hit Venmo's weekly transfer limit.
How to link a bank account if you haven't already
Open the Venmo app and tap the menu icon (three horizontal lines) in the bottom right corner. Select "Settings," then "Payment Methods," then "Add a Bank Account." Venmo will ask for your bank's name, your account type (checking or savings), your account number, and your routing number. You can find both numbers on a check, or by logging into your bank's website or calling the bank directly.
After you enter this information, Venmo will make two small deposits to your bank account—usually within one to two business days. You'll see these deposits in your bank statement with a code. Go back into Venmo, select the bank account, and enter the two amounts to confirm you own the account. Once verified, that bank account is linked and ready for transfers.
If you already have a bank account linked to Venmo, you can skip this step and move straight to the transfer process.
Steps to transfer money using the standard (free) option
Open Venmo and tap the menu icon in the bottom right. Select "Transfers." You'll see your current Venmo balance at the top. Tap "Transfer to Bank." Venmo will show you any linked bank accounts; select the one you want the money to go to. Enter the amount you want to transfer (up to $19,999.99 per transfer). Tap "Next," review the details, and tap "Confirm."
Venmo will show you a confirmation screen with the transfer amount, the bank account it's going to, and the expected arrival date—typically two to three business days from the date you initiated the transfer. The money will land in your bank account on a weekday; transfers initiated on Friday or over the weekend will arrive the following Monday or Tuesday, depending on your bank's processing schedule.
How instant transfers work and what they cost
Instant transfers follow the same steps as standard transfers, but you select "Instant Transfer" instead of the standard option. Venmo charges a fee of 1% to 2% of the amount transferred—the exact percentage depends on your payment method and account history. For example, transferring $100 instantly costs between $1 and $2. The money arrives in your bank account within 30 minutes, though some banks may take slightly longer to display it.
Instant transfers are useful when you need cash the same day—to pay a bill that's due today, cover an emergency, or settle a debt quickly. But the fee adds up if you transfer frequently, so most people use standard transfers for regular money movement and reserve instant transfers for urgent situations.
Transfer limits and what to do if you hit them
Venmo caps standard transfers at $19,999.99 per transaction. If your balance is larger, you can make multiple transfers. There's also a weekly limit on how much you can transfer out of Venmo in total—this limit varies based on your account age and history, but typically ranges from $5,000 to $20,000 per week. Venmo doesn't publish the exact limit because it adjusts per account.
If you try to transfer more than your weekly limit allows, Venmo will reject the transfer and tell you how much you can move that week. You'll have to wait until the next week (which resets on Sundays) to transfer the rest. If you need to move a large amount urgently, contact Venmo support through the app to ask if your limit can be raised temporarily.
Why a transfer might fail and how to fix it
The most common reason a transfer fails is outdated or incorrect bank account information. If your bank account number changed, your bank merged with another, or you entered the wrong routing number when you linked the account, the transfer will bounce back to Venmo. Go to "Settings," "Payment Methods," and check that the bank account details match what your bank has on file. If they don't, delete the account and re-link it with the correct information.
Transfers can also fail if your bank rejects them for fraud prevention reasons—especially if you're transferring a large amount or to a newly linked account. Your bank may flag the transfer as suspicious and block it. If this happens, contact your bank directly and tell them you authorized the Venmo transfer. They can clear the block, and you can retry the transfer in the Venmo app.
Less commonly, Venmo itself may hold a transfer for review if the transaction looks unusual. You'll see a notification in the app if this happens. Venmo typically releases these holds within 24 hours, and the transfer will go through automatically.
What happens to your Venmo balance while a transfer is pending
Once you initiate a transfer, Venmo deducts the amount from your balance immediately, even though the money hasn't reached your bank yet. This means you can't spend that money in Venmo or transfer it again while it's in transit. If you change your mind and want to cancel a transfer before it completes, open the app, go to "Transfers," find the pending transfer, and tap "Cancel." The money will return to your Venmo balance within one business day.
After the transfer lands in your bank account, you can spend it like any other deposit. Your bank will show it as a transfer from Venmo or from the Venmo payment processor (usually Evolve Bank & Trust or Metropolitan Commercial Bank, depending on your region).
Frequently Asked Questions
Can I transfer money to someone else's bank account directly from Venmo?
No. Venmo transfers only go to a bank account linked to your own Venmo profile. If you want to send money to another person, 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 my bank account is closed or no longer active?
If you try to transfer to a closed account, the transfer will fail and the money will return to your Venmo balance. Remove the closed account from your payment methods and link a current, active bank account before trying again.
Do I pay taxes on money I transfer from Venmo to my bank?
Transferring your own money from Venmo to your bank is not a taxable event. However, if you received money in Venmo as payment for goods or services, that income may be taxable depending on the amount and your location. Venmo reports payments over $20,000 to the IRS.
How long does it take for an instant transfer to show up in my bank account?
Venmo says instant transfers arrive within 30 minutes, but your bank may take longer to display the deposit. Most banks show it within an hour, but some can take up to a few hours depending on when you initiate the transfer and your bank's processing speed.
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 to move money regularly, you'll need to do it each time by following the transfer steps.