How do you get your money off venmo

Receiving money on Venmo is relatively simple, especially if you've already done the work of fully setting up your account by adding a bank account. 

You won't have to formally accept payments to your account (it should appear in your account after someone sends money to your username), but there are certain steps you'll have to take in order to get the funds deposited to your bank account once it's added to your account. 

Here's a breakdown of the necessary steps to receive money on Venmo. 

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How to receive money on Venmo

Before you can receive money on Venmo, you'll have to add a bank account to your profile. Here's how:

1. Open the Venmo app on your iPhone or Android.

2. Tap the three lines in the top-left corner of the screen.

3. Select "Payment Methods."

If your bank is not approved for instant verification, you can verify by confirming microtransfers. Simply add your account information, then visit Venmo’s Bank Verification page and enter the amounts of the transfer.

If you have verified your identity, you can transfer up to $19,999 each week with Venmo. Transfers to your bank account normally take one full business day to fulfill and are usually appear in your account as a deposit by something similar to “VENMO-0 CASHOUT.”

When making purchases, Venmo will automatically use your Venmo balance unless otherwise specified. If the amount does not fully cover your purchase, Venmo will withdraw the full amount from your connected account.

Never send money back to anyone you don’t know on any payment app, unless it’s a friend or family member you know or your payment app offers fraudulent security like PayPal Goods and Services. If someone really did send you money by mistake, they can contact the payment app and dispute it. But leave the money in question in your account with the expectation that it will be removed eventually. You don’t need to worry about your account being hacked or vulnerable just because someone sent you or requested money from you. What you can do is contact your payment app’s support team, and they should be able to reverse the payment sent to you without risk of being scammed.

The following are the recommendations from the BBB on how to protect yourself from payment app scams:

• Use money transfer with friends: Protect yourself from scams by only using money transfer apps for their intended purpose—sending money to people you personally know.
• If someone sends you money by mistake, ask them to cancel the transaction: The sender can request that the vendor cancel the transaction. If the person refuses, it’s probably a scam.
• Enable additional security settings: Check your account settings to see if you can turn on additional security measures, such as multi-factor authentication, requiring a PIN, or using fingerprint recognition.
• Link your money transfer app to a credit card. As with many other purchases, using a credit card will help protect you if you don’t get the goods or services you paid for. Linking to a debit card or directly to your bank account does not give you that added protection.

What should you do if you sent money back to a scammer?

If you sent money to a scammer, there is almost no way to get it back, unless you had your credit card connected to your payment app. In that case, you can contact your bank and let them know there was a fraudulent transaction, and they should be able to help you.