Sometimes, you might not want to verify your identity with Venmo, but it’s a great way to transfer money between friends and family members.
If you don’t want to verify your identity, you can use Venmo. If you wish to access your Venmo account from a variety of devices or withdraw funds to your bank account, then you must verify your identity.
How to Verify Your Identity on Venmo?
The Venmo app requires you to enter the required information to verify your identity.
- Install Venmo and open it.
- Go to the “Me” tab.
- Click the “Settings” tab at the top right of the screen.
- Click “Verify your identity”.
- Fill out the required fields.
- Your credentials should be matched with Venmo’s national database based on the information you enter.
You may not be able to verify your identity using this automatic verification method, however. Your name or address may have changed or there may be missing information.
For Venmo verification, the following documents are required
Your address may be incorrect in other cases, preventing automatic verification. To complete the verification process, you will need to submit the following documents:
- Registration of cars.
- Residential lease.
- Letter from the IRS.
- Phone, internet, or gas bill.
- Paystub or W-2.
- Statements from banks or credit cards.
Ensure that all of these documents are recent (12 months or less).
Incorrect SSN or ITN numbers can also cause automatic verification to fail. Your verification can be completed by submitting any of these documents:
- SSN/ITN assignment letter.
- SSN card.
- IRS letter.
- W2 or paystub with a published SSN.
What Are the Benefits of Verifying Your Identity on Venmo?
It is important to understand that Venmo falls under federal law just like many other payment applications. The Venmo database must contain valid information about its users.
Names, dates of birth, addresses, Social Security numbers, and ITINs are all included in this information.
Venmo is not recommended if you haven’t verified your identity first.
Using Venmo without identity verification will also prevent you from getting the following benefits:
- Friendship money can be sent and received.
- Ensure the safety and security of your account.
- Your bank account will be debited directly when you withdraw funds.
- Multiple devices can be used to access your account.
How Safe Is Venmo for Sharing Personal Information?
Your personal information might be at risk when you use online payment apps. The Venmo payment platform, however, is one of the most secure out there.
You don’t have to worry about your personal information because data encryption prevents it from being stolen.
PayPal is one of the most trusted and reliable payment service providers in the world, so Venmo is backed by them as well.
Conclusion
Payments can be sent and received using Venmo without having to carry cash. It would be best, however, if you verified your identity before using Venmo.
To prevent unauthorized access to funds, this precautionary measure is taken. For compliance with financial regulations and customer protection, Venmo needs this information.