Venmo is a peer-to-peer payment platform owned by PayPal. It enables users to send and receive money, pay for things, and more.
On the other hand, Chime is a fintech company that provides a modern, app-based banking experience.
You might be looking to withdraw or transfer money from Venmo to your Chime account. Here’s how to transfer money from Venmo to Chime step by step.
The good news is, transferring money from Venmo to your Chime account is a simple process. The first step is linking your Chime bank account to Venmo.
There are two options for this:
Linking your bank account to Venmo
Linking your debit card to Venmo
You can initiate transfers from Venmo using either your Chime debit card or bank account.
The most common option for linking your Chime account to Venmo is using your bank account and routing number.
Here are the steps:
Log in to your Venmo app and access the settings from the menu icon.
Choose the "Payment method" option and select "Add bank or card."
Opt for the "Bank" option and select the manual verification method.
Enter your account and routing numbers.
Verify the small deposits made to your Chime account when you receive them in 1 to 2 business days.
As an alternative option, you can also link your Chime debit card to Venmo.
Here’s how:
Open the Venmo app and navigate to the settings through the menu option.
Select the "Payment method" option and click on "Add bank or card."
Fill in the required information related to your Chime debit card and verify the details to successfully link the card with Venmo.
Note: If you link your Chime debit card, it allows for Instant Transfers, but please note there will be a 1.75% fee of the transfer amount, with a minimum fee of $0.25 and a maximum fee of $25.
Once your accounts are successfully linked, transferring money from Venmo to Chime is simple and straightforward.
Here are the steps:
Open the Venmo app.
Access the menu icon and select "Manage balance."
Choose the "Transfer funds" option and specify the amount you wish to transfer.
Select the preferred destination for the funds - either the linked debit card or the Chime checking account.
Decide on the transfer speed - either Instant Transfer (for a fee) or Standard Transfer (free, within 1-3 business days).
| Transfer Method | Speed | Fee |
| Standard Bank ACH | 1–3 business days | Free |
| Instant Transfer | Within minutes | 1.75% of transfer amount |
| Chime Pay Anyone | Instant | Free |
Standard Transfer (free): Takes 1-3 business days.
Instant Transfer (with a fee): Arrives within minutes.
If you choose a standard transfer, it should take approximately 1 to 2 business days.
However, if you opt for an Instant Transfer, your money should arrive in your Chime account within minutes. Remember, this method comes with a fee of 1.75% of the transfer amount, with a minimum fee of $0.25 and a maximum fee of $25.
Transfer Delays: Ensure that the transfer was initiated before 7 PM ET on a business day. Transfers initiated after this time may take longer.
Transfer Limits: Be aware of any daily or weekly transfer limits imposed by Venmo or Chime.
Verification Issues: If verification fails, double-check the bank account and routing numbers entered.
To enhance your security during the transfer process:
Enable two-factor authentication on both your Venmo and Chime accounts.
Regularly monitor your account activity for any unauthorized transactions.
Use strong, unique passwords for both your Venmo and Chime accounts
If you want to avoid fees associated with Venmo's instant transfer, you can use Chime’s Pay Anyone feature to send money directly to other Venmo users, free of charge. This can be a cost-effective alternative, especially if you're not in a rush to transfer funds.
By following these steps and tips, you should be able to transfer money from Venmo to your Chime account easily and securely. Whether you need funds instantly or prefer a standard transfer, you now have all the details to make the process smoother.
