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While Venmo offers a great service, you may try it out and find out it isn’t for you.
Because this is an app that deals with bank accounts, it isn’t something you should just leave inactive.
If you no longer wish to use it, you must completely delete your account.
Fortunately, doing this is very simple, but it must be done using the official Venmo website, you cannot delete your account via the mobile app.
What Is Venmo?
Before delving into how to close your account, let’s discuss what Venmo actually is. Venmo is a digital wallet in the form of a mobile app available for both Android and iPhones.
This app enables easy exchange of money between users.
It allows you to link any debit, credit, or checking accounts to the app, giving you access to all your funds in order to allow easy transactions between individuals.
Before Closing Your Account
Before officially closing your account, there are a few things you should do. You must ensure that all of your funds have been transferred back into your bank account.
Failing to do this means you will have to contact Venmo after you’ve deleted your account to gain access to the funds you left behind, which could be a lengthy process.
You should also download a copy of all the transactions you have made on Venmo.
Once you delete your account, you will no longer have access to your records, and you may need some of them in the future.
How To Close A Venmo Account
As mentioned above, you can only close your account using the official Venmo website, not the mobile app.
Step
Open Your Web Browser
Begin by opening up your web browser, going to the official Venmo website, and logging into your account.
Step
Go To The Sidebar
Go to the sidebar, and click on ‘Settings’.
Step
Select ‘Profile’ From The Menu
Once you’ve clicked on settings, select ‘Profile’ from the menu.
Step
Click On ‘Close My Venmo Account’
You’ll then be taken to your profile, where you are to scroll down and click on ‘Close my Venmo Account’.
Step
Click On ‘Next’
Click on ‘Next’, and the ‘Closing Your Venmo Account’ page will appear. If you have not done so already, you can download your account statement here by selecting the ‘Download CSV’ option.
Step
Select ‘Next’
Once you’ve done this, select ‘Next’.
Step
Select ‘Close Account’
There will then be one final prompt asking if you are sure you want to close your account. If you would like to proceed, select ‘Close Account’, and your account will officially be closed.
Re-opening Venmo account
Once you’ve canceled your Venmo account, you can no longer re-activate that account. You can, however, make a new one.
You can do this by using the same details as the one you previously canceled, and Venmo also allows you to open two accounts simultaneously.
However, both accounts cannot be used for sending and receiving money. You must have one account for receiving, and one for sending.
Final Thoughts
Closing a Venmo account is very straightforward, you just need to remember to move any funds in that account, back into your main account.
You must also note that closing your account cannot be done on the mobile app, so you need to have access to a laptop or computer if you would like to delete your account.
Making sure you’ve downloaded a copy of your transactions is also essential, as you may be asked for them at a later date.
Once you delete your account, you can still open a new one with the same details you provided in your previous account.
You must always be mindful when using digital wallets, and always keep track of your transactions.
