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Written by Ryan Scribner on February 11, 2024
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How To Withdraw Money From Venmo To Your Bank 2024

Venmo, with its user-friendly interface and convenience, has become a staple in the realm of digital transactions.

However, the process of transferring funds from Venmo to your bank account may seem daunting at first glance.

In this guide, we will navigate through the steps, ensuring a seamless transition of your funds from Venmo to your bank account.

Learn More: Robinhood Retirement 3% Match

Robinhood is a popular "all-in-one" investing app.

While they are most well-known for their commission free stock trading, they've recently shaken up the Retirement Investing World too.

Introducing Robinhood Retirement; home of the biggest IRA match on the market.

Robinhood IRA Boost

Here's what you need to know:

  • Robinhood offers 2 types of retirement accounts - the Roth IRA and Traditional IRA
  • All Robinhood investors will get a 1% Match on what they Contribute or Transfer
  • Robinhood Gold members will get a 3% Match - the biggest on the market

And don't worry, this comes with a Portfolio Builder Tool. You don't have to construct your investment portfolio from scratch if you don't want to.

Lastly, you'll even get a free stock worth up to $200 when you open a new Robinhood account using our link.

Best Free Stock Promotions

BrokeragePromotionLink
Robinhood Logo1 Free Fractional Share Worth Up To $200Learn More
Webull LogoEarn Up To 75 Free Fractional SharesLearn More
Moomoo Logo5 Free Stocks When You Deposit $100+Learn More
Acorns Logo$20 Bonus When You Invest $5+Learn More

Method 1: Instant Transfer

For those seeking immediate access to their funds, Venmo offers an instant transfer option.

While this option incurs a fee of 1.75%, with a minimum of $0.25 and a maximum of $25, it provides the advantage of swift transfer, typically within 30 minutes.

Here's how to initiate an instant transfer:

  1. Open the Venmo app and navigate to the "Me" tab.
  2. Select "Add or Transfer" under Wallet.
  3. Choose the "Instant" option. (Assess the fee.)
  4. Enter the desired amount for transfer.
  5. Select your bank account from the linked accounts.
  6. Tap "Transfer" to complete the process.

Method 2: Standard Transfer

Alternatively, Venmo offers a standard transfer option for users who prioritize cost-efficiency over immediacy.

Standard transfers are free of charge but may take 1-3 business days to complete.

Follow these steps to initiate a standard transfer:

  1. Open the Venmo app and navigate to the "Me" tab.
  2. Select "Add or Transfer" under Wallet.
  3. Choose the "1-3 Business Days" option.
  4. Enter the desired amount for transfer.
  5. Select your bank account from the linked accounts.
  6. Tap "Transfer" to proceed with the transfer.
Article written by Ryan Scribner
Ryan Scribner is the Co-Founder of Investing Simple and author of the personal finance book ‘From Side Hustle To Main Hustle To Millionaire’ (available on Amazon and at Barnes & Noble). He is recognized as a Top 100 Money Expert by GoBankingRates. Ryan Scribner runs a successful YouTube channel focused on money and investing, which he started in 2016. Scribner was exposed to the finance world early on with a dad who is a financial advisor. Before he started his YouTube channel, he was working and making a surplus of money which he began investing on his own. Then he started to document it on his YouTube channel, before launching the Investing Simple blog in 2018. Ryan Scribner has used his own experiences with money to show others what he’s done to be successful so that they can learn from it. He has been featured in The Wall Street Journal in a publication on The Financial Gurus Millenials Listen To. In addition, Ryan Scribner has been featured in MarketWatch, Business Insider and Forbes - where he was recognized as the #1 Must Watch YouTube Channel For Making Money.

Read more

Power Your Investing

Choosing the right product and service is essential for your investing. Here are some of the tools and services to help your portfolio grow.
Robinhood
Robinhood provides an easy-to-use commission free trading platform for beginner investors. Robinhood has $0 account minimums. Get a free stock when you open an account below. Limitations Apply.
Try Robinhood
M1 Finance
M1 Finance offers a free investing platform where users can build portfolios of stocks and ETFs. Users can also choose from a variety of pre-built portfolios offered for free.
Try M1 Finance
Fundrise
Passively invest in private real estate deals with as little as $10. Fundrise allows you to own residential and commercial real estate across the U.S. starting at a 1% annual fee.
Try Fundrise
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Investing Simple is a financial publisher that does not offer any personal financial advice or advocate the purchase or sale of any security or investment for any specific individual. Members should be aware that investment markets have inherent risks, and past performance does not assure future results. Investing Simple has advertising relationships with some of the offers listed on this website. The information on Investing Simple could be different from what you find when visiting a third-party website. All products are presented without warranty. For more information, please read our full disclaimer.
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Get 1 Free Stock Worth Up To $200 From Robinhood!

Don't Miss This Opportunity!

Investing Simple readers can claim a free stock from Robinhood worth up to $200 when they open a brokerage account and deposit any amount.

For US Residents only. Investing Simple is affiliated with Robinhood, and we may earn a commission when you sign up for Robinhood.

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