How to Send Money From Venmo to Chime

Venmo and Chime are digital financial platforms. Venmo is known for peer-to-peer payments, while Chime offers mobile-first banking services. Many users transfer funds between these platforms to manage their finances.

Understanding Direct Transfers

Direct transfers from Venmo to Chime do not function like typical Venmo app transfers. Instead, Venmo moves funds from your balance to a linked bank account. Chime accounts operate like traditional bank accounts, allowing direct withdrawals of your Venmo balance. This process requires establishing a connection between the two platforms.

Linking Chime to Venmo

Linking a Chime account to Venmo is a necessary step before initiating transfers. Users will need their Chime routing and account numbers. These details are typically found within the Chime mobile app by navigating to the “Move Money” section and selecting “Direct Deposit,” or on monthly bank statements.

Once Chime account details are located, proceed within the Venmo application. From the Venmo app, navigate to the “Me” tab, then “Settings,” and select “Payment Methods.” Choose “Add a bank or card,” then “Bank.” Venmo offers instant verification, often using services like Plaid, where users log in with their online banking credentials.

Alternatively, manual verification requires direct input of Chime routing and account numbers. If opting for manual verification, Venmo sends two small deposits (under $1) to the Chime account within one to three business days. These micro-deposits must then be confirmed within the Venmo app to complete the linking process.

Transferring Funds from Venmo to Chime

After successfully linking the Chime account, transferring funds from your Venmo balance is straightforward. Within the Venmo app, access the “Me” tab and locate the “Transfer Balance” or “Transfer Money” option. Specify the amount you wish to transfer and select the linked Chime account as the destination.

Venmo offers two primary transfer options: a standard transfer and an instant transfer. A standard transfer is free, processes through the Automated Clearing House (ACH) network, and usually takes one to three business days. Weekends and bank holidays do not count as business days. For immediate access, the instant transfer option deposits money within approximately 30 minutes. This expedited service incurs a fee of 1.75% of the transferred amount, with a minimum fee of $0.25 and a maximum fee of $25 per transaction.

Addressing Common Transfer Issues

Users occasionally encounter issues when attempting to link Chime to Venmo or transfer funds. One common problem arises from incorrectly entering the Chime routing or account numbers during the linking process. It is advisable to double-check these details against the information provided in the Chime app or on a bank statement to ensure accuracy. If initial attempts fail, removing the incorrectly linked account from Venmo and re-adding it with precise information can resolve the issue.

Delays or failures in the micro-deposit verification process can also occur. If the small deposits do not appear within three business days, it might indicate an error in the entered bank information or a system issue. Transfers can fail or be reversed for several reasons, including insufficient funds in the Venmo balance to cover the transfer, reaching Venmo’s transfer limits, or security flags on either account.

Venmo has weekly transfer limits, which for verified users can be up to $19,999.99 for bank transfers, with a $5,000 limit per individual transfer. If a transfer is pending or delayed, checking the Venmo app’s status and confirming the destination account’s last four digits can provide clarity. Should problems persist, contacting the customer support teams for both Venmo and Chime may be necessary for further assistance.