What Time Do Venmo Transfers Go Through?
Learn the ins and outs of Venmo transfer speeds, from typical processing times to factors that can affect when your money arrives.
Venmo is a widely used platform for sending and receiving money, simplifying financial interactions. While peer-to-peer payments are typically immediate, moving funds from your Venmo balance to a bank account involves different processes and timelines. Understanding these varying transfer speeds is important for managing your finances.
Understanding Standard Venmo Transfers
The standard transfer option allows users to move funds from their Venmo balance to a linked bank account without incurring fees. This method typically takes one to three business days for funds to become available. These transfers are processed through the Automated Clearing House (ACH) network.
A business day refers to weekdays, Monday through Friday, excluding weekends and federal bank holidays. For example, a transfer initiated late on a Friday may not begin processing until the following Monday or Tuesday, depending on bank holidays. Transfers initiated after a typical cutoff time, often around 7 PM Eastern Time, are processed on the next business day.
Expediting Transfers with Instant Options
Venmo provides an instant transfer feature for quicker access to funds. This option allows money to arrive in an eligible U.S. bank account or Visa/Mastercard debit card, usually within 30 minutes. This service comes with an associated fee.
The fee for an instant transfer is 1.75% of the transferred amount. There is a minimum fee of $0.25 and a maximum fee of $25 per transaction. This fee is deducted directly from the transfer amount, meaning you receive slightly less than the amount you initiated for the transfer.
Common Factors Influencing Transfer Time
Several factors can influence the time it takes for a Venmo transfer to complete. Bank holidays and weekends do not count as business days for standard transfers, which can extend processing time. For example, a transfer initiated on a Friday before a Monday holiday would not begin processing until Tuesday.
Bank processing hours also play a role; transfers initiated after a daily cutoff time, such as 7 PM ET, will not be processed until the next business day. Venmo also has internal review processes that can temporarily delay transfers. These reviews are conducted for security concerns, unusual activity, or large transaction amounts, and may result in funds being held or delayed for up to 72 hours.
Monitoring Your Transfer Status
Users can check the status of their Venmo transfers within the mobile application. Navigate to the “Me” tab to view your recent transactions.
Each transfer will show a status indicator. A “Pending” status for an instant transfer means it is still processing and may take up to 30 minutes. For standard transfers, “Pending” indicates the transfer is within the 1-3 business day processing window. If a transfer shows “Completed” but has not appeared in your bank account, check your bank statement or contact your bank directly.