You can move money from your Venmo account into your bank account with a click of a button. You may want to withdraw your money from an ATM, so moving the cash to your bank would allow this to happen. This type of contactless payment is very popular.
How long does it take to transfer money from Venmo to a bank? Transferring money from Venmo to a bank usually takes 30 minutes on business days using the instant transfer option. This transfer option charges a 1.5% fee. You also can choose the ‘no fee’ option that takes Venmo one to three days to post to your bank account.
The word Venmo started to be used as a verb. Someone might say, “I am going to Venmo you the cash in five minutes.” or “What are the costs of Venoming money?” Here you might say, “When Venoming from my app account, how long does it take for the money to arrive in my bank account?”
How Long Does it Take to Transfer Money from Venmo to Bank?
When it comes to moving money from Venmo to your bank account, you have two options.
The first step is always adding your bank account to your Venmo account. Then depending on which transfer option you choose, the time it takes to receive your money in your account varies.
How Long Does a Venmo Instant Transfer Take?
An instant transfer takes about 30 minutes to show up on your debit card or in your bank account.
- There is a 1.5% charge for this type of transfer. The minimum fee is $0.25, while the maximum cost is $15 per transfer.
- You can determine if your account is eligible for this type of transfer by noting if your bank is grayed out when trying to make an instant transfer. If it is grayed out, then your bank does not support this service.
- Make transfers 24 hours a day, any day of the year. However, know that the money’s arrival into your account could be delayed if requested on weekends or holidays.
How Long Does a Venmo Standard Transfer Take?
The standard transfer has ‘no fee.’ The money is available in your bank account one to three days after the request.
- If you make your request during the week before 7 pm EST, you may receive the money the following day. However, Venmo does not guarantee this. It could take up to three days.
- When you request a transfer after 7 pm EST, the process starts the following day, so you can often expect to have your money the day after that. But again, that is not certain.
- When you request a transfer on a Saturday or Sunday, the process starts the next business day. Money requested on the weekend usually posts to your account on Tuesday, but it can take up to three days to arrive.
- For bank holidays during the week, add a business day to your wait time.
Venmo looks over transfers, and if any issue arises, they may decline, delay or even block the transaction. As a result, your funds could be removed or frozen during the review process.
It is critical to remember that certain factors can affect the arrival of your money into your bank account from Venmo. On the weekends and holidays, you can expect delays.
More About Venmo Transfers to Banks
Here is some more important information about transferring your Venmo balance to your bank account in the USA. If you want to learn “How to Venmo Money to Yourself,” click here.
You can also request a Venmo Card. Read more about “how to order one” here.
I Don’t See my Money Transferred from Venmo to My Bank
If you don’t see your transfer on your bank statement, search two to three days around your expected date. At times Venmo back-dates the transaction. This type of transaction usually shows up on statements as “VENMO-0 CASHOUT.”
What is the Limit for Transferring Money from Venmo to my Bank Account?
- Once Venmo verifies your identity after signing up for the app, your weekly limit is $19,999.
- There is a $2,999.99 limit for each transaction.
- Before verifying your identity, your weekly limit is $999.99. If you need help with verifying your identity, learn more here.
What if I Am in a Hurry?
If you need to move money fast, the instant transfer is what you need to choose.
However, once you request a standard bank transfer, there is no way to change it into an instant transfer.
The moment you make the request, the money moves over to your bank, and Venmo no longer has access to it.
Other Venmo Info
If you want to know “How Old You Have to Be to Use Venmo,” click here.
Do you want to move money from your Venmo balance to Apple Pay? Read about “the step by step process here.”
To learn more about how long Venmo transfers take, check out this article “Is Venmo Transfer Instant.”