How long does Venmo take to leave your account?

Answered by Antonio Sutton

Venmo offers two options for transferring money from your Venmo account to your bank account: instant transfer and standard withdrawal. The time it takes for the money to leave your Venmo account will depend on which option you choose.

If you opt for an instant transfer, the money will typically arrive in your bank account within 30 minutes. This can be a convenient option if you need the funds to be available immediately. However, it’s important to note that Venmo charges a fee for instant transfers. The fee is 1% of the transferred amount, with a minimum charge of $0.25 and a maximum charge of $10. So, if you transfer $100 through an instant transfer, you will be charged a fee of $1.

On the other hand, if you choose the standard withdrawal option, there is no fee involved. However, it can take up to three business days for the money to show up in your bank account. This is a slower process compared to instant transfers, but it can be a good option if you’re not in a hurry to access the funds.

In my personal experience, I have used both the instant transfer and standard withdrawal options on Venmo. When I needed the money urgently, I opted for the instant transfer and was pleased with how quickly the funds arrived in my bank account. However, I did have to pay the associated fee. On other occasions when I didn’t need the money immediately, I chose the standard withdrawal and was willing to wait a few days for the funds to appear in my bank account, especially since there was no fee involved.

To summarize, if you want the money to leave your Venmo account quickly, you can choose the instant transfer option, but be prepared to pay a fee. If you’re not in a rush, you can go for the standard withdrawal, which is free but takes longer to process. Ultimately, the choice depends on your individual needs and preferences.