Can You Have Two Venmo Accounts
The Venmo app has proven to be reliable, easy to use, and efficient. It’s no wonder why there are so many Venmo users - the app really works!
But picture this: you are already a Venmo user, but it happens that you have other bank accounts.
It might also happen that you have a joint bank account shared with someone, and you want to get this bank account added to their profile as well.
Is this possible? In today’s post on our website, we will be talking about:
- Can you have two Venmo accounts?;
- What to know before creating two Venmo accounts;
- How does having multiple Venmo accounts work?
Can You Have Two Venmo Accounts?
In short - yes, you can have two Venmo accounts. However, some conditions apply.
So, you don’t need to delete Venmo because it’s limited to one Venmo user’s account - you can transfer money and receive funds from multiple profiles as well.
But how does this really work? Can two accounts have the same bank and same phone number? Well, yes and no.
Worry not - we’ll further elaborate on this matter.
How Does Having Two Venmo Accounts Work
Picture this: you have an existing username on Venmo, and you want to Venmo yourself from your first account to your second one.
In this case, the bank information needs to be entirely different if you want to fund payments.
But if you have a joint bank account sharing the same bank on the payment app is possible.
It works like this - keep on reading to learn more.
1. Personal and Business Venmo Account
You can have both personal and business accounts for business purposes.
In this case, it doesn’t matter if the linked bank account is the same - a business account is different from a personal Venmo account, and different conditions apply.
The mobile number can be the same and there will be no issue whatsoever.
You can move your money from your personal account to your business one because they are essentially separate Venmo accounts, so you don’t have to worry about limits in this popular money transfer app.
2. Joint Accounts with the Same Bank Account
If you have a joint bank account with a partner or family member, you can both link this one bank account to your profile.
Consequently, the same account will process business transactions separate from each other.
The account number will be the same, and as we mentioned before, the bank transfers that happen within a joint account will also reflect on the other user’s Venmo account - as simple as that.
This is just the short answer, but you can get more insights into this matter by clicking here.
3. Can You Have Two Venmo Accounts on One Phone Number?
Yes. If one Venmo account shares the same phone number with another, it will not be a problem as long as these separate Venmo profiles have different banks.
This doesn’t apply between a business profile and a personal account. When you set up a second account with the same number, the bank details or debit card must be different in this new account.
In any case, a Venmo KYC process must be performed while you open the 2 Venmo accounts, but if the new Venmo account you create has different bank accounts from the first one, then there’s nothing to worry about.
How to Make a Second Venmo Account
Now you know it - you can have several Venmo accounts, and to summarize, it works like this:
- Two Venmo users can link the same bank account to Venmo if we talk about a joint bank account;
- Venmo business account and personal accounts can have the same details because they perform any Venmo transaction differently;
- You can share the same number with multiple accounts ONLY if the bank info you have among them is different.
Thus, let’s learn how to make a second account and use it to send money and micro transfers ASAP!
Step 1: Sign In to Venmo
In order to have multiple Venmo or 2 Venmo accounts, you need to individually create each profile.
Consequently, open the Venmo app, and sign in.
If you are opening a personal and business account, you can use the same email. On the other hand, if you will be sharing your bank account with another Venmo user, the email and phone numbers must be different.
Step 2: Go to “Settings” And Select “New Payment Method”
Once you have signed up for the app, you need to look for settings on the top left corner of the Venmo menu.
Therefore, do so, and then select the option that says “New Payment Method.”
Step 3: Tap “Add Bank or Card”
Here, you will be able to add the bank account that one Venmo account will share with the other.
The bank verification process is automatic if you sign in to the bank account online platform, so worry not.
If you use the same bank account (joint) as another person, they will receive a notification when they open the Venmo app.
In any case, the Venmo balance will show separately in both accounts.
That’s all for now! Yes, you can have more than one Venmo account, and getting them is not rocket science. Get more insightful info about Venmo on GrowFollowing.
FAQ
Can I Have Three Venmo Accounts with the Same Bank?
No - three is just too much! The joint accounts feature is limited to only two accounts at the same time. You could have three Venmo accounts if you have different banks, though, but with the same bank, this won’t be possible.
Can I Have Two Venmo Accounts without Joint Banks?
Yes, but only if you have a personal and a business Venmo account, or use different banks within the different accounts you own.
Steve specializes in cryptocurrency and finance. As a born researcher, he won’t leave any stone unturned when it comes to topics he covers.