How Old Do You Have to Be to Have a Venmo?

Venmo is a peer-to-peer payment platform for sending and receiving money between individuals. It allows users to easily split costs, pay friends, or make purchases from participating businesses directly from their mobile devices. The platform functions as a digital wallet, enabling quick and convenient financial transactions often linked to a bank account or debit card.

Understanding Venmo’s Age Policy

Venmo requires users to be at least 18 to create an account. This age requirement is primarily due to legal stipulations concerning contracts. Engaging with Venmo’s services involves agreeing to their Terms of Service, which constitutes a legal contract. Minors, under 18, are typically not permitted to enter into such binding agreements under federal and state laws. Venmo strictly enforces this age minimum to comply with these regulations.

The Account Sign-Up Process and Verification

Creating a Venmo account involves providing personal details for compliance and identity verification. Users are required to furnish their full legal name, date of birth, a U.S.-based mobile phone number, and a U.S. physical address. This information is crucial for Venmo to confirm the user meets the minimum age requirement and to establish a verified identity for security purposes.

For certain features, for higher transaction limits or specific services, Venmo may request additional verification, including the last four digits of a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN). If automated verification is unsuccessful, users might be asked to upload government-issued identification (driver’s license, passport, or state ID) and other documents like utility bills or bank statements to confirm address. This process helps Venmo adhere to “Know Your Customer” (KYC) regulations, which prevent financial crimes like fraud and money laundering.

Consequences of Violating the Age Policy

If Venmo discovers an underage individual is using an account, the platform may take immediate action, including suspending or permanently closing the account. This enforcement is a direct consequence of violating the Terms of Service. When an account is closed due to age policy violations, access to funds held within the account may be restricted.

In such cases, Venmo may freeze the account, preventing payments, withdrawals, or app access. Retrieving funds from a suspended account can be a lengthy and challenging process, often requiring communication with Venmo’s support team. Furthermore, a history of violating Venmo’s terms, particularly regarding age, could impact an individual’s ability to open an account with Venmo or other financial services in the future.

Digital Payment Options for Minors

While the Venmo platform is restricted to individuals 18 and older, several supervised digital payment alternatives exist for minors. Venmo now offers a “Venmo Teen Account” for ages 13 to 17, which parents or guardians can open and manage. This account includes a Venmo Teen Mastercard debit card, allowing parents to monitor transactions, set spending limits, and control privacy settings. This provides a safe way for teens to use digital payments under oversight.

Beyond Venmo’s dedicated teen account, other options include prepaid debit cards designed for younger users, often managed by parents, such as Greenlight or GoHenry. These cards offer parental controls, spending limits, and real-time transaction alerts. Some traditional banks offer youth checking accounts with debit cards for parental monitoring. Mobile payment platforms like Apple Cash Family and Cash App also allow parents to establish accounts or add minors as authorized users, facilitating digital transactions with parental oversight.