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Venmo is a mobile payment service that allows you to send money to friends or family members. The company was founded in 2011 and has over 100 million registered users.
You don’t need to spend a fortune to get started with Venmo. If you want to try out the service, you can sign up for free. Once you’re ready to start sending money, you’ll be able to choose from three options: credit card, debit card, or bank transfer.
You can also use Venmo to pay for goods and services. However, before you pay anyone through Venmo, you’re going to need to deposit money into it. Today we’re going to be teaching you how to do just that.
Adding Money To A Venmo Account
It could not be simpler to add money to your Venmo account – if it was made too difficult, no one would use the service! Below, we have detailed the steps on how to add money to your Venmo account through your bank account.
Link Your Bank Account With Your Venmo
The first thing you will need to do, if you haven’t already, is to link your bank account with your Venmo account. You will also need to verify your bank account.
Click Manage Balance On The App
Now that you have done this, click Manage Balance on the app. It should be at the top of your screen.
Click On The Add Money
Click on the Add Money option and type how much you want to transfer. Confirm this by hitting Done.
Confirm The Bank Account
Now you will have to confirm the bank account you want to take the money out of and click Next.
Review All The Information That You Have Inputted
Here, you will be able to review all the information that you have inputted. Make sure that it is all correct before moving to the next step.
Click Add Money
Once you are happy with the transaction information, click Add Money to confirm. The money will now be transferred into your Venmo account around the estimated arrival date.
Can You Cancel A Transfer To Venmo?
No, you cannot cancel any transfers you make to your Venmo account. Once you have made the transaction, the money will not be able to be stopped from hitting your Venmo account.
However, once the money has cleared from your bank account and settled in your Venmo, you can withdraw it back into your bank account.
Below are the steps you will need to take to withdraw money from your Venmo account back into your bank account.
Open Venmo And Click Instant Transfer
Open your Venmo app and click Instant Transfer.
Input The Amount To Withdraw
Input the amount of money that you want to withdraw into your bank account.
Choose The Bank Account
Now, choose the bank account that you want the money to be sent to. Confirm this with the green arrow.
Add Your Routing Number And Account Number
Add your routing number and account number before confirming that these details are correct.
Check Your Email For The Confirmation
An email will now arrive in your mailbox confirming the transaction.
Contact Your Bank If There Are Any Problems That Occur
The money should turn up in your account within 24-48 hours. If you don’t get a confirmation email or the money doesn’t show up, contact your bank for more information.
Is Venmo Reliable?
Yes, Venmo is very reliable. They offer a great customer support team who are always available to help you. They also offer many methods of payment, so there’s something for everyone.
Venmo is generally considered safe to use because it uses bank-level encryption to ensure that your data is kept safe. There is also an option for you to add multifactor authentication to your account to make it even safer!
Adding money to your Venmo is easy. All you need to do is follow the simple instructions that we have detailed above. Just as it is very simple to add money to your Venmo, it’s equally easy to take it away!
Just allow enough time between transactions for the money to clear before becoming concerned that you don’t see the money in either account yet.