A Look at the Venmo Verify Bank Account Process
- Customers must login to their Venmo account to begin
- Venmo will make micro transfers for manual verification
- The system provides online password recovery help
Anyone who has ever signed up for an account with an online payment vendor likely knows that it’s only a matter of time before they must verify their bank account. Fortunately, this process is becoming easier by the day. For example, Venmo customers who need to verify a bank account can choose from 2 easy options. The first of which allows customers to complete verification by using their bank account login information. Meanwhile, customers who would rather keep this information to themselves can use the microtransfer method (one of the original methods and the one we prefer).
How does Venmo verify bank microtransfers?
- Customers must add their bank using their account number and routing number
- Venmo will send 2 microtransfers for less than $1 each (many times FAR less than $1)
- The transfers include both withdrawals and despots that are made simultaneously
- Customers should make sure they have at least $2 in their account (to avoid overdraft)
Once the customer receives the 2 microtransfers they can go to the Venmo verify bank account page and login using their account username and password. It should be noted that customers should see the microtransfer shows up in their account within 1 to 3 business days. However, those who don’t see the transfer should check their email as they may have entered an incorrect bank account or routing number (those long numbers are easy to jumble up!).
By the way, customers who are having trouble logging in due to a forgotten password can reset it directly from the Venmo verify bank account page. In order to do so, customers must click the Forgot password? link and enter either a mobile number or email address. Once the customers enters the required information they will receive a link to reset their password with.
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Speaking of verification processes….