To set up a Venmo account, you need to ensure that you meet all the requirements, such as being physically present in the United States, In order to do the Venmo account setup, you need to have the following requirements in place, which is:
Yes, you would need a bank account to use Venmo. The verification of the account is usually done via the bank details provided. The interface gives the flexibility to add the bank account directly or, rather, add the debit card in accordance with your comfort level.
Yes, you need to link the bank account or debit card to the Venmo account that has been created. It would help you to have a two-way model of money exchange. It means that you would be able to transfer all the money you receive through Venmo and make the payments wherever necessary via the bank account, debit card, or credit card.
It is not mandatory for you to have a Social Security Number (SSN) to use the Venmo account. The SSN number is required for verification of the identity you have on Venmo. Even without doing the verification, you are free to keep using the app. The payment options are made available through the modes you have chosen, allowing you to make the transfer. Without SSN verification, you can also receive the payment from fellow users of Venmo to be sent to the bank accounts.
Once you complete all the online processes and submit all the documentation, the expert will review the shared details and help you successfully set up the Venmo account. The verification process can take around 2-3 business days for complete authorization, after which you would get the mail for the setup done.
It is indeed safe to link your Venmo to the bank account for usage purposes. The application ensures to provide the best safety measures needed. Even so, you can be extra vigilant and cautious by setting up two-step authorization in the app.
Venmo usually takes only a few minutes for approval of the identity verification. In case there is some error in the approval process due to a mismatch in the details entered, the team would request to submit the documents to confirm identity through the app.
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