How to Withdraw Money from Venmo

Venmo, a popular peer-to-peer payment app, offers users a straightforward way to manage money and make transactions. One of the essential features of Venmo is the ability to withdraw money, whether you’re transferring it to a bank account or picking up cash. This guide provides a detailed overview of the various methods for withdrawing funds from your Venmo account, understanding the withdrawal limits, and how to do it without incurring fees.

How to Withdraw Money from Venmo to Your Bank Account

To transfer money from your Venmo balance to your bank account:

1. Open the Venmo app on your mobile device.
2. Tap the “☰” menu icon at the top of the app.
3. Select “Transfer to Bank” or “Transfer Money.”
4. Enter or edit the amount of money you wish to transfer.
5. Choose your preferred transfer type: instant or standard.
6. Select your bank account or add a new verified bank account.
7. Confirm the transfer details and tap “Transfer.”

Instant vs. Standard Transfers:

• Instant transfers are typically completed within 30 minutes but come with a 1.5% fee (minimum $0.25, maximum $15).
• Standard transfers are free and usually take 1 to 3 business days to complete.

How to Withdraw Money from Venmo Without a Card

If you don’t have a Venmo card, you can still withdraw money by transferring your balance directly to your linked bank account using the steps outlined above. If you need access to cash without a card, consider transferring your Venmo balance to a friend or family member who can withdraw the funds through their bank or Venmo card and give you the cash.

How to Withdraw Cash from Venmo

For those who prefer to withdraw cash directly:

1. Get a Venmo Card: Apply for a Venmo card through the app, which functions like a debit card and can be used at ATMs.
2. Use an ATM: With a Venmo card, you can withdraw cash at any ATM that accepts Mastercard, PULSE, Cirrus, or MoneyPass.
3. ATM Fees: Venmo does not charge a fee at MoneyPass ATMs, but there may be a $2.50 fee at non-MoneyPass ATMs, plus any additional fees that the ATM owner or bank may charge.

Where Can I Withdraw Money from Venmo for Free?

To avoid fees, use a MoneyPass ATM for free withdrawals with your Venmo card. You can locate these ATMs using the Venmo app by navigating to the Venmo card section and selecting “Find ATMs.” This tool helps you find the nearest MoneyPass ATM where you can withdraw money without incurring fees.

What is the Venmo Withdrawal Limit?

The Venmo withdrawal limit for personal accounts is $400 per day at ATMs, which includes any fees that the ATM might charge. For bank transfers, the limit is higher. You can send up to $19,999.99 per week after identity verification.

Does Venmo Charge a Fee to Withdraw Money?

Venmo charges a fee for instant transfers to your bank account but not for standard bank transfers. ATM withdrawals are free at MoneyPass ATMs with the Venmo card; however, a $2.50 fee applies at other ATMs, plus any additional fees charged by the ATM owner.

Enhancing Your Venmo Experience

Understanding the nuances of withdrawing money from Venmo ensures you can access your funds when and how you need them while avoiding unnecessary fees. Always check the latest updates in the Venmo app or on their website to stay informed about any changes to fees or limits.