This tutorial will explain how to retrieve money from Venmo in 2020. Due to the recent changes, some users experience some program errors and are unable to get their money. Today we will cover a 100% effective way of withdrawing some money from your account.
What is Venmo?
Venmo is an app made by PayPal. It is as simple to use as other similar Fintech apps: users can transfer money to other accounts through it. The app has a very intuitive design and gives you the option to split the money with others if it is a birthday gift present, dinner, or clubbing receipt. Moreover, if you have money on Venmo, you can send this money to your bank account. The problem is that it only works for US bank account holders and US phone numbers, so if you live outside of the U.S.A. and don’t have a US account or phone number, unfortunately, this app is not for you.
If you have, however, this is great! Venmo allows its users to withdraw up to 3000$ per week. In 2020, Venmo, like PayPal, restricted the number of verification methods. You need to have your ID and SSN to activate your account. So if someone has told you that Venmo does not work, they are wrong. It works under some conditions. You also can get new bins and get or buy other information to activate your account.
Let’s summarize, for creating an account in the Venmo, you need:
- Virtual Phone Number (USA-based, foreign numbers will not work)
- New Email Address (There are no restrictions, you can create any valid email from any platform)
- SSN and Drivers Licence (the Social Security Number or Driving Licence should be yours, but if you experience some difficulties, 2020 has provided us many ways of “borrowing” one)
- Venmo Mobile App (You can download it easily from the Android or Apple Store)
How to Cash out in Venmo?
We will describe it in a few easy steps:
- Download the app from the store.
- Sign up for an account with all the documents that you have and verify your phone number.
- After you have been verified, you can link your debit/credit cards (currently, Venmo supports up to three accounts). Hint: do not link all your accounts at once.
Congratulation! You have an official account, now let’s move on to the more exciting part:
Now, create another unregistered email – you can use this email to send funds. From the account that you have verified, send some money to the new (unregistered) email. How much you transfer is up to you.
Now, your money has been transferred to the email (let’s call it email “B”). Create a new account using email B and add your real bank account details on there. After that, you can quickly cash out money after transferring money from this Venmo account to your real bank account. This money will be transferred to your account immediately without any further verification, and you can receive it on your bank account without any stress and withdraw immediately.
The biggest secret of hitting big on Venmo is that you have to use the right working bin! If someone tells you Venmo does not work, they are lying. That person does not use the right “working bin” If you want to know about updates and working bins, you can contact us; we have weekly updates for premium bins.
Still have questions? Ask us!