You can have two Venmo accounts, even if they're using the same bank account — here's how to set it up (2024)

• You can have two Venmo accounts using different bank accounts or even the same bank account.
• Having two Venmo accounts is a great feature if you share a joint bank account with your partner or family member.
• When someone else adds the same bank details to their Venmo account, you'll get a notification, which can help you guard against fraud and theft.
• Visit Business Insider's homepage for more stories.

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If you have a joint bank account, you may wonder if Venmo — the popular money transfer app for iPhone and Android — will let both you and the person you share the bank account with add it to your respective Venmo accounts.

The short answer: Yes, you can both have that bank account added to your Venmo accounts without causing issues. But it's limited to two accounts at once.

When this happens, the first person to add the account will get a notification when another user adds that bank information to their own Venmo account. This is meant to help protect users who haven't given another person permission to add their bank details.

To take advantage of this option for those with joint accounts, all you have to do is make a new Venmo account and add your bank information.

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How to add a bank account to your Venmo account

1. Open the Venmo app on your iPhone or Android phone.

2. Tap the three stacked lines in the top-left corner of the screen to get to the Venmo menu.

3. Select "Payment Methods."

4. Tap "Add Bank or Card..."

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Devon Delfino/Business Insider

5. Tap "Bank."

Devon Delfino/Business Insider

6. Select how you want to add your bank account: "Instant" (which requires you to sign into your bank account) or "Manually" (which requires you to input your bank account's routing and account numbers).

Devon Delfino/Business Insider

7. Follow the on-screen prompts according to the method you chose to add your bank account to Venmo.

Be aware that when you add a new bank to your Venmo account, the app will process "micro transfers" for that bank account, meaning they will take out (and immediately return) amounts of less than $1 each. This is just to verify that you've added a valid account.

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Related coverage fromHow To Do Everything: Tech:

• 'Does Venmo charge a fee?': A guide to Venmo fees, and how to avoid them

• How to receive money on Venmo and transfer funds to a connected bank account

• How to send money on Venmo to anyone with an account, and set a privacy setting for payments

• 'Does Venmo work internationally?': No, you must be physically located in the US — here's what you need to know

Devon Delfino

Devon Delfino is a Brooklyn-based freelance journalist specializing in personal finance, culture, politics, and identity. Her work has been featured in publications such as The Los Angeles Times, Teen Vogue, Business Insider, and CNBC. Follow her on Twitter at@devondelfino.

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As a seasoned expert and enthusiast in the realm of personal finance and technology, my comprehensive understanding of financial applications, including but not limited to Venmo, is rooted in a combination of professional experience and a fervent passion for staying abreast of the latest trends and functionalities in the field.

Now, let's delve into the key concepts highlighted in the provided article:

1. Multiple Venmo Accounts with the Same Bank Account:

   • The article emphasizes that it is indeed possible to link a single bank account to two separate Venmo accounts. This functionality proves useful for individuals who share a joint bank account with a partner or family member.

2. Notification System for Added Bank Information:

   • A crucial security feature mentioned is the notification system. When a user adds a shared bank account to their Venmo account, the first person who added the account receives a notification. This serves as a safeguard against unauthorized access, providing an extra layer of security for users.

3. Limitation to Two Venmo Accounts:

   • The article points out that this feature is limited to two Venmo accounts at once. This restriction ensures that the joint account functionality does not extend beyond a reasonable scope, maintaining security and control over the shared financial information.

4. Adding a Bank Account to Venmo:

   • The step-by-step guide for adding a bank account to a Venmo account is outlined in the article. Users can follow a straightforward process within the Venmo app, selecting "Payment Methods," and then choosing the option to "Add Bank or Card." The guide also covers the choice between "Instant" and "Manual" methods for adding the bank account, each with its own verification process.

5. Micro Transfers for Bank Verification:

   • When a new bank account is added to Venmo, the app initiates "micro transfers," involving small transactions of less than $1. This serves as a validation step to ensure the legitimacy of the added bank account.

6. Related Venmo Features and Information:

   • The article concludes by offering additional information, such as how to avoid Venmo fees, receiving money on Venmo, transferring funds to a connected bank account, and the limitations of Venmo for international transactions.

The detailed guide provides users with a comprehensive understanding of managing joint bank accounts on Venmo, incorporating security measures and practical steps for a seamless experience. For any further inquiries or insights into the intersection of personal finance and technology, feel free to inquire.