As more and more everyday systems move online, so are a lot of little things that we otherwise used to do offline. Transferring and investing money is one of them. With a number of finance-related apps flooding the market and competing to be your primary bank users now have no shortage of options.
That said, not all of them are made equal and not all of them are available globally. In this article, we’re taking a look at whether or you’re you can use Venmo, one of the most popular payment apps in the US, UK and Canada to send yourself money.
Also read: How to unfreeze Venmo account?
Can I Venmo myself?
Provided you have a verified Venmo account that’s linked to your bank, you can use Venmo to send money to yourself based on how you got it in your account in the first place.
If you’ve added funds to your Venmo account using a credit or debit card, you can send that money back to your own bank account in addition to sending money back to your checking account using the transfer option, which might take up to two to three business days.
Since Venmo was made for transferring funds between two individuals, while you can in theory send money between two of your own Venmo accounts, they would have to have different phone numbers and bank accounts. Not to mention Venmo will ban your account if you’re found trying to maintain multiple accounts on the platform.
You can also add funds to your Venmo account from your bank account, which can also be considered Venmo-ing yourself as you’ve simply transferred some money between your own accounts. However, any transfers outside of the aforementioned situations will not be allowed on the app.