Linking a Bank Account to Venmo
The first step in withdrawing money from Venmo without a card is to link your bank account to your Venmo account. To do this, open the Venmo app and tap on the three horizontal lines in the top left corner. Then tap on “Settings” and select “Payment Methods.” From there, select “Add Bank or Card” and enter your bank account information.
Verifying Your Bank Account
After entering your bank account information, Venmo will send two small deposits to your account. You will need to verify these deposits by logging back into Venmo and entering the amounts. This step is important because it confirms that you are the owner of the bank account.
Withdrawing Money from Venmo to Your Bank Account
Once your bank account is linked and verified, you can easily withdraw money from Venmo to your bank account. To do this, open the Venmo app and tap on the three horizontal lines in the top left corner. Then tap on “Transfer to Bank” and enter the amount you wish to withdraw. Venmo will transfer the money to your bank account within 1-3 business days.
Withdrawing Money to a Debit Card
If you do not have a bank account linked to Venmo, you can still withdraw money to a debit card. To do this, open the Venmo app and tap on the three horizontal lines in the top left corner. Then tap on “Transfer to Bank” and select “Instant” transfer. Enter your debit card information and Venmo will transfer the money to your card within minutes.
FAQs
Can I withdraw money from Venmo to a credit card?
No, Venmo does not allow you to withdraw money to a credit card. You can only withdraw money to a bank account or a debit card.
Is there a fee for withdrawing money from Venmo?
There is no fee for withdrawing money from Venmo to your bank account. However, there is a fee for instant transfers to a debit card. The fee is 1% of the transfer amount with a minimum fee of $0.25 and a maximum fee of $10.
How long does it take to withdraw money from Venmo to my bank account?
It typically takes 1-3 business days for Venmo to transfer money to your bank account. However, this can vary depending on your bank’s processing times.
Conclusion
In conclusion, withdrawing money from Venmo without a card is easy and convenient. By linking your bank account or debit card to Venmo, you can easily transfer money to your desired account. Venmo is a great option for those looking for a fast and secure way to send and receive money.