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How to Close a Venmo Account: 3 Ways
A Venmo account can be very useful and you might love it, but the truth is that not everyone has the same experience. After a while of using it or after signing up and not using it, you may be thinking of closing it. How to close a Venmo account, though? It’s not that difficult, but we will walk you through the steps so that you know exactly what to do.
How to Close a Venmo Account
Are you ready to close your Venmo account? If so, there are three methods you can use to delete your Venmo account. They include:
- Deleting your account through the Venmo app (method 1)
- Deleting your account through the Venmo app (method 2)
- Deleting your account through the Venmo website
Read on to learn how to use each of these methods.
1. How to Delete Your Venmo Account in the Venmo App (V1)
- Open the Venmo app on your mobile device.
- Tap the three lines in the top left corner to open the menu.
- Select “Settings” and then tap “Account”.
- Scroll to the bottom of the page and select “Close my Venmo Account”.
- Confirm your decision to close your account by tapping “Next”.
- If you have a balance, transfer it to your bank account by selecting “Transfer Balance” and following the prompts.
- Finally, tap “Close Account” to finalize the process.
2. How to Delete Your Venmo Account in the Venmo App (V1)
- Go to the “Me” tab by tapping your picture or initials.
- Tap the Settings gear.
- Select “Account” under Preferences.
- Tap “Close Venmo Account”.
3. How to Delete Your Venmo Account on the Venmo Website
- Sign in to Venmo from a computer browser.
- Go to your account settings.
- Click “Close my Venmo account” at the bottom of the page.
Deleting a Venmo Account for a Deceased Person
To delete a Venmo account for a deceased person, the process is a bit more involved and requires coordinating with Venmo’s customer service team. Here are the general steps you would need to follow:
- Gather Necessary Documents: You’ll need to have some key documents on hand, such as:
- A copy of the death certificate of the deceased person.
- Proof of your identity (if you are the executor or next of kin).
- Legal documentation proving your authority to manage the deceased person’s digital assets or estate. This could be a will, an estate letter, or a court order.
- Contact Venmo Support: Reach out to Venmo’s customer service. This can typically be done through their support email or a customer service phone line. Explain the situation and inform them that you are handling the affairs of a deceased person.
- Provide Required Information and Documents: Venmo’s customer service team will likely ask for the documents mentioned above. They may have specific requirements or forms for you to fill out. Follow their instructions carefully.
- Follow Venmo’s Process: Venmo will guide you through their specific process for closing the account of a deceased person. This might include transferring any remaining funds, closing any pending transactions, and officially closing the account.
- Confirmation: Once all steps are completed, Venmo should provide you with confirmation that the account has been closed.
Please note that these steps can vary based on Venmo’s current policies and procedures. It’s crucial to directly contact Venmo for the most accurate and detailed instructions. This process is sensitive and requires proper legal documentation to protect the privacy and assets of the deceased individual.
There isn’t any set policy for family members to follow, so if you are unable to log into the account of a loved one who passed away, you should contact Venmo. Try to call them at 855-812-4430. Explain the situation properly, and then make sure you’re ready to email or fax them important documents for proof, such as your ID and their death certificate. After all, they need evidence that you are indeed the person in charge of the digital legacy now.
Steps to Take Before Closing Your Venmo Account
- Transfer or Return Funds:
- Before proceeding with account closure, ensure any funds in your Venmo account are handled appropriately.
- Transfer the money to another bank account, or return the money to the sender. If this step is skipped, accessing these funds after account closure will require contacting Venmo.
- Wait for Transaction Completion:
- Allow all ongoing transactions to complete.
- Closing your account does not automatically return the money to the original senders or transfer it to your bank account immediately.
- Download Transaction History:
- It’s advisable to download a copy of your transaction history for personal records.
- Despite closing your account, Venmo will send a final transaction history email, as required by federal regulations.
- Use a Computer for Account Closure:
- Access to a computer is necessary for closing your account.
- Closing your Venmo account from a mobile device or app is not an available option.
Reasons to Close a Venmo Account
- No Longer Needed for Personal Use:
- You may have initially created a Venmo account and used it for a period but now find it unnecessary.
- If the account is no longer serving your needs, closing it is a practical step, allowing you to explore other money storage or transfer methods.
- Account Created but Never Used:
- Sometimes, accounts are opened on a provisional basis, such as for potential future use.
- If you find that you haven’t used your Venmo account at all, closing it may be the most sensible decision.
- Switching to a Better Digital Wallet:
- You might discover another digital wallet that offers features more suited to your needs.
- In this case, closing your Venmo account in favor of using a service with more desirable features can be a better option.
How to Close a Venmo Business Account
To close a Venmo Business account, you have two options: through a web browser or via the Venmo app. Here are the steps for both methods:
Deleting Your Venmo Business Account from a Web Browser
- Log into Venmo from a web browser.
- Click on the gear icon and select ‘Account Settings’ from the menu.
- Go into ‘Profile’.
- Scroll down to the bottom and click on ‘Close Account’.
- Follow the prompts to confirm that you want to close your account.
Deleting Your Venmo Business Account from the App
- Open the Venmo app.
- Select the ‘Me’ tab by tapping your initials or the image icon.
- Tap the gear icon to open settings.
- Under ‘Preferences’ select ‘Account’.
- Select ‘Close Venmo Account’ and follow the prompts.
It’s important to note that closing your Venmo Business account will also delete any associated personal accounts. If you wish to keep your personal account active while only closing the business account, you must contact Venmo directly for assistance. Additionally, once the account is closed, it cannot be reactivated, and you may need to complete identity verification in compliance with tax regulations to delete your Venmo Business account【30†source】.
- How to Add Money to Venmo
- How to Cancel a Venmo Payment
- How to Set Up a Venmo Account
- How Does Venmo Make Money?
- How to Use Venmo
Knowing how to close a Venmo account is important, whether you want to close yours or close one for a deceased person. Hopefully, this guide will help you with the process.
Venmo Closing FAQ
Here are some commonly asked questions regarding closing Venmo accounts.
Can I close my Venmo account from the mobile app?
Yes, you can close your Venmo account using the mobile app. Navigate to the settings menu, select ‘Account,’ and then choose ‘Close my Venmo Account.’ Follow the prompts to complete the process.
What should I do with my Venmo balance before closing my account?
Before closing your account, transfer any remaining balance to your bank account or return the funds to the sender. If you don’t, accessing these funds after account closure will require contacting Venmo.
Will closing my Venmo account automatically transfer my funds to my bank?
No, closing your account doesn’t automatically transfer funds to your bank. You must manually transfer any balance before closing your account.
Is it possible to retrieve transaction history after closing my account?
After closing your account, you will receive a final transaction history email. However, it’s advisable to download a copy of your transaction history for your records before closing the account.
What happens to pending transactions if I close my account?
Allow all pending transactions to complete before closing your account. Closing your account while transactions are pending may complicate or halt these transactions.
Can I close my account using a computer?
Yes, you can also close your Venmo account using a computer. Sign in to Venmo, navigate to your account settings, and select ‘Close my Venmo account’ at the bottom of the page.
How long does it take to close a Venmo account?
The process of closing your account is immediate once you confirm the closure. However, preparing for closure, such as transferring funds and waiting for pending transactions, can take varying amounts of time.
What should I consider before closing my Venmo account?
Before closing your account, ensure that all pending transactions are complete, your balance is transferred out, and you have downloaded your transaction history. Also, be aware that you won’t be able to access your Venmo account once it’s closed.
Can I reopen a closed Venmo account?
Generally, once a Venmo account is closed, it cannot be reopened. You may need to create a new account if you decide to use Venmo again in the future.