Venmo is a popular financial App that started out as a free-of-charge peer-to-peer payment app available for iPhones and Android devices. However, sometimes users may no longer wish to have a Venmo account and may want to delete it.
Despite being a great financial app, there are times when you want to replace it with another app, such as Paypal or Google Wallet. The Venmo account might need to be deactivated and deleted permanently to avoid leaving any traces of financial transactions.
The Things You Must Know Before Deleting Your Venmo Account
Some people prefer to manage their financial information via other platforms despite Venmo’s efficiency and ease of use.
- Once you delete your Venmo account, you can’t recover your profile
Venmo accounts are permanently closed once they are closed.
Venmo accounts cannot be recovered, but they can be opened again a new one.
- Before closing your Venmo account, you must transfer your funds
Venmo does not allow unfinished business – all funds must be transferred before account closure.
Before you delete your Venmo account, keep in mind that this may take a few business days.
Give the funds back to the original sender or transfer them to your bank account
You will not be able to delete your Venmo account if you have incomplete transactions on your computer or mobile device.
- Don’t close your Venmo account until you have saved your transaction history
Federal Regulations may require you to comply with Venmo’s transaction history requirements.
As a result, it’s important to save all these important documents before you delete transactions on the platform.
Steps to Delete Venmo Account
Nevertheless, you can easily delete your Venmo account, but it is recommended to close all pending transactions and clear out the available balance before proceeding.
Login to Your Venmo account
- Open a web browser on your PC.
- Visit Venmo.com
3. Login with your credentials (ID and password)
Check for incomplete transactions
If you still have funds available or transactions pending, Venmo won’t let you close your account. In order to proceed further, any incomplete transactions must be cleared first.
Clear Out Account Balance
Ensure that your Venmo account is empty of all balances. Once you delete the Venmo account, the balance amount will be gone.
Transfer the money into your bank account if you want to keep it. Transfer money from your Venmo accounts to your bank account by clicking “Transfer Money” on the homepage. In most cases, this will take a few business days, but Venmo charges a small fee for instant bank transfers.
Open Venmo Settings
Log in to your account after transferring all your funds, and click “Settings.”
Click on “Close My Venmo Account”
After clicking on the setting then click on “Close My Venmo Account”. Then click on the “Next” button to proceed further.
Are you sure to close your Venmo account?
Check your email
Your Venmo account will be closed down when Venmo sends a final email to your account address. You will find a goodbye message along with your transaction history.