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Venmo is among the leaders in the virtual wallet industry. As such, you may have opened an account at some point but haven’t used it in a long time. When he opened the account, he submitted a ton of personal and financial information. Now you may be worried that your open, unused account puts you at risk for identity theft or other cybercrime.
Fortunately, opening a digital wallet account is not a lifetime contract. You can close your account to delete your personal information. This article will show you how to delete your Venmo account and possibly lessen your worry.
How to delete a Venmo account on an Android
Most Venmo users rely on mobile devices to make transactions. However, you cannot delete your account through the Android mobile app. A laptop or desktop computer is needed to make this change. You must log in to your Venmo website in a web browser, but you can use your Android to take the initial steps and prepare for deleting your account.
To get started, check your balance in the app on your device. Venmo will not close an account that has a remaining balance. All money in your account must be withdrawn before you can close it on the Venmo website. If you have a balance, you can use your Android device to transfer all the funds in your account as follows:
- Sign in to your account from the Venmo app.
- Select the blue “You” icon (in the upper left corner).
- Tap “Add or Transfer” (below your profile photo).
- Enter the total amount of money left in your account.
- Select “Instant” (for a small fee) or “1-3 business days” (free).
- Choose the debit card or bank account where the money should be transferred.
- Tap “Transfer” to confirm.
It will take a few days until your withdrawal is complete. It is vital that you do not close your account until you have confirmed that you have a zero balance. When the transaction is complete, you will see the money you transferred added to your bank balance. Once you have confirmed the transfer, you can log in from a web browser and follow the instructions to delete your account.
How to Delete a Venmo Account in the iPhone App
By now, you’ve probably used your iPhone for Venmo transactions. However, as of now, you cannot delete your account using the iPhone app. Like most financial companies, Venmo requires major changes to be made to its website for security reasons. To do this, you will need a computer to open a web browser.
However, you can prepare in advance for your account to be deleted from the mobile app. Venmo will only close an account with a zero balance. Following these rules, check the app to see if you have money in your account. If so, you can use the app on your iPhone to withdraw the remaining balance. That is how:
- Sign in to your Venmo account from the app.
- Tap “You” (the blue silhouette with the dollar sign).
- Select the “Add or Transfer” option.
- Enter the amount to withdraw (it must equal your total balance).
- Choose “Instant” (pay a small fee) or “1-3 business days” (no cost).
- Select the bank account or debit card where you want to transfer your money.
- Confirm by clicking the green “Transfer” button.
Once you have depleted your account, it will take a few days for the transaction to fully complete. Although you will receive a notification about the Venmo withdrawal, wait until your bank has confirmed the transfer before deleting your account on the Venmo website.
How to delete a Venmo business account
Maybe you have a business account in addition to your personal Venmo profile. Venmo treats profiles as separate accounts. If you no longer need a business account, you can close it and keep your personal profile. However, you can’t just use the app or delete it through the Venmo website.
To delete your Venmo business account, you must contact the company in one of the following ways:
- Email Venmo Business Profile support to request deletion of your business account.
- Start an application by completing a Contact Us form on the Venmo website.
- Call Venmo at their customer service phone number.
Once you contact Venmo, your representative will guide you through the proper steps to delete your business account. You may need their direct assistance to comply with specific regulations regarding closing accounts for businesses. Before you begin the process of closing your Venmo business account, you should know the following:
- Your business profile cannot be reopened once you close it.
- Venmo may need to verify your identity for tax purposes before closing your account.
- You will not be allowed to create another business profile linked to your current personal account.
Be sure to complete and submit any forms Venmo may require. Please keep copies of all correspondence, transaction histories and any other information related to your trading account. If you still have a personal account, you can continue to use it for private transactions only.
How to delete a Venmo bank account
You may have closed your existing bank account or decided to use another one for your Venmo profile. If so, you can easily remove the bank account from your Venmo profile. The steps below show you how to delete a bank account using the app and a web browser.
To delete a bank account in the Venmo app:
- Open the app on your mobile device.
- Go to the “You” tab (the blue silhouette icon).
- Select “Settings” (the gear icon).
- Choose “Bank” from the list of account settings to edit.
- Delete the bank account you want to delete.
You will be allowed to add another bank account to replace the one you deleted from the “Settings” page if you wish. Other account information, such as your email and phone number, can also be edited from this page using the Venmo app on your mobile device.
Steps to delete a Venmo bank account in web browser:
- Navigate to the Venmo website and sign in to your account.
- Go to the “Settings” page.
- Select “Bank” from the list of settings to edit.
It only takes a few steps if you need to remove a bank account from a business profile. Switch to your business profile by tapping your picture in the top left corner and follow the steps above to delete your bank account. Additionally, you can add a new bank account or make other changes to your account from the “Settings” page.
Put your mind at peace
You can take action if an abandoned Venmo or other financial account is keeping you up at night. The solution is to close your account permanently. Even if you’re “between computers” right now, you can find a way to delete your Venmo account.
There are numerous ways to access computers and the Internet. Consider borrowing a computer from a trusted friend or family member or using a computer in your office. It just takes a little effort to get some peace of mind.
Have you closed a Venmo account that you weren’t using? Let us know if you tried the steps in this article using the comments box below.
