Generally, you won't need a bank account to use Venmo. If you already have a debit card linked to your Venmo account, you can use it to add and withdraw money from your Venmo balance.
You also have other ways to get money from your Venmo account, such as withdrawing from an ATM with your Venmo debit card or sending money to other trusted Venmo users.
Let me show you how to effectively use all these methods to withdraw money from Venmo without using a bank account.
How to Get Money From Venmo Without Bank Account
Not having a bank account doesn't mean you can't access banking services. In fact, statistics have shown that over 16 percent of US households don't actually own a bank account. Digital payment services like Venmo have provided alternative methods to cover this unbanked sector and have made it possible for anyone to withdraw money from Venmo without necessarily using a bank account.
I can't boast that I've used all the methods below, but I've often used my Venmo debit card at MoneyPass ATMs to freely withdraw money from my balance. So I'd heavily recommend that method if, at all, you don't mind going out of your home to find a MoneyPass ATM. So only use it if at all it is convenient for you.
1. Use a Debit Card
One thing that I am sure of is that if you don't use a bank on Venmo, you definitely use a debit card, since you need one of these two to carry out transactions on Venmo.
If you have a debit card, you can use it to withdraw money from your account balance. But this one comes at a cost (usually 1.75% of the transaction amount) since Venmo only transfers funds to debit cards through instant transfer.
To do so:
- Go to the "Me" tab on the Venmo app.
- Tap the Add or Transfer button under "Wallet" (you might see Manage instead).
- Enter or edit the amount you want to transfer from Venmo to your debit card.
- Select "Instant" as your transfer method and take note of any fees applied.
- After you've confirmed the details, tap "Transfer" to withdraw your funds.
You should receive your funds within seconds if everything goes well.
If you don't want to pay fees for withdrawing money to your debit card, you can still use an eligible debit card that can support standard transfers from Venmo. The time for this transfer should take approximately 48 hours to complete.
2. Withdraw at an ATM (For Free)
If you have the Venmo debit card, you can freely withdraw money from your account balance at any MoneyPass ATM.
MoneyPass operates a network of over 45,000+ ATMs within the country, so finding a free ATM nearby should be an issue.
In fact, you don't even need to go through the hassle of finding an ATM by yourself, because MoneyPass has an ATM locator tool that lets you find nearby ATMs. This way, you'll be sure about the ATM you want to visit before you leave the comfort of your home to find it.
3. Venmo Other Trusted Users
Sending money to other Venmo users is another great way to get money from Venmo without a bank account.
It is simple and straightforward since all you'll need to do is find someone you know who uses the Venmo app and ask them if they are willing to receive Venmo money from you and repay you through physical cash.
How Long Do I Wait For The Venmo Debit Card?
Your Venmo Debit Card should come within 15 business days after you've been accepted. At present, the card can only be mailed to a residential address.
If it has been more than 15 business days and you have not received your card, then consider contacting Venmo.
How To Withdraw Money From Venmo Without Card
To withdraw money from Venmo without card, you simply need to add your bank account details and withdraw your money directly from your bank account without hassle.
However, you will need to enter your bank account details directly in Venmo to complete the withdrawal.
How Can I Get Money Out of My Venmo Account?
You can either transfer money from your Venmo account to a linked bank account or cash out money using your debit card. It's also easy to send money through a conventional ACH transfer, although this may take up to three business days.
Final Thoughts On How To Get Money From Venmo Without Bank Account
Venmo is a popular payment service that allows users to send and receive payments.
Not using a bank account shouldn't stop you from getting money from Venmo; you should have a handful of options to get money from Venmo without a bank account.
Thankfully, this guide compiles the best ways to get money from Venmo without bank account.
