With advancement of modern technology, you can now use mobile apps such as Venmo app in order to make cashless transactions. All you need to do is to download this app and then sign up with your details. Thereafter, you can link your account with a debit card, credit card, gift card, and bank account. With these components in place, you can always replenish your Venmo balance anytime you please. In addition, you can receive payment in your Venmo account and then transfer it to your bank account. If you have transferred payment from your Venmo account to a bank account, chances are you are eager to know when this money will show up in your bank account. In this article, we shall discuss these timelines, alongside any other related idea.
The time limit for a Venmo payment to show up in my bank account
At the introductory part, we have outlined that it is possible to transfer payment from your Venmo account to a bank account. Once you initiate this payment transfer, you will not get money in your bank account immediately. However, it may reflect after 30 minutes or 1-3 business days.
To put this into perspective, if you choose the Venmo standard bank transfer method, you will be able to get the money after 1 to 3 business days because such transfers use the Automated Clearing House banking process to get completed. The good news is that this method does not charge you any fee. Therefore, it is an ideal option for those who are operating on a budget and would like to save a few bucks.
On the other hand, if you choose the Venmo instant payment transfer method, the money show up in your bank account in 30 minutes or thereabout, as these transfers are processed via different networks. Consequently, money will be able to reach to your bank account fast.
However, this option attracts a 1.5% fee, where a minimum fee of $0.25 and a maximum of $15 is charged for the transfers made. Therefore, the period that it will take for money to show up in your account will depend on the payment transfer method you choose when moving money from your Venmo account to bank account.
What should I do if the tentative time duration is over but fund is not showing up in my bank account?
Although you may be able to transfer funds from your Venmo account to bank account seamlessly, there are instances when the tentative time duration may be over and still you are yet to receive the funds in your bank account.
Typically, this can be imminent as these transfers are always reviewed by the Venmo team anytime you initiate them. In the event these transfers are declined, chances are that you will not get the funds in your bank account as expected.
As far as these delays are concerned, they can be attributed to the Venmo automated internal security measures. For instance, if you attempt an instant transfer and your Venmo account is not registered with your official legal names, chances are that funds may be delay to get to your account.
Other times, the instant transfer feature may not be available in your country. If you are facing issues with your fund transfer process, consider contacting the customer support team either online through the website or send an email to them.
If you choose the latter ensure that you include a photo of you and your government-issued ID so that the Venmo team verify your identity. You can also chat with the customer support team from your Venmo app.
In case methods are not lucrative to you, feel free to contact the Venmo customer support team at 855-812-4430.Once you reach out to an agent on the other side, narrate your story and you will get helped promptly.
Is it possible cancel the payment before the payment is showing in my account?
Well, it depends on the method of money transfer you choose to initiate in the first place. Like we previously mentioned, you are at liberty to choose either the standard transfer method or instant transfer process. In case you choose the standard bank transfer process, it is important to note that this one is issued from Venmo in form of batches.
Therefore, if you had initiated this transfer and at some point you happen to change your mind, you can consider chatting with the Venmo customer support team depending on the duration you initiated the bank transfer process.
Once you do so, the customer support team may cancel the payment in case the transfer batch is yet to be issued. However, this is uncommon and thus there is no guarantee that the customer support team will cancel the bank transfer for you.
To avert such inconveniences, you should always double check this kind of money transfer by clicking on the green button. On the other hand, you will not be able to cancel the instant bank transfer since money will be sent to your bank account instantly.
Final words
When it comes to methods that can help you transfer money from your Venmo account to bank account, instant money transfer and standard bank transfer, are the only methods that can help you get started. As far as the duration in which the Venmo payment amount will show up in your bank account is concerned, be sure that it will rely on the transfer method you choose to initiate. If you want to get money faster in your account, consider using the instant transfer method. On the other hand, if you are not in a rush to get the money, choose the standard bank transfer process. In case you have issue with either of these transfer methods, always feel free to reach out to Venmo customer support team for more help and guidance.