Personal Finance Money transfer

How to transfer money from Venmo to Wise

Alexis Konovodoff

25.09.24

Read time 3 minutes

Venmo® and Wise are popular peer-to-peer payment platforms – and you can use your accounts to send instant transfers in just a few clicks.

But can you transfer money from Venmo to Wise? We take a look at everything you need to know, including fees and international capabilities.

🚀 Heading abroad? Use Wise to send money to over 160 countries around the world – all from just one global account.

Is Wise compatible with Venmo?

Wise and Venmo are easy-to-use money transfer platforms, enabling quick, convenient, and low-fee transfers.

The Venmo app functions as a wallet. When you receive a payment, it will stay in your Venmo balance unless you decide to transfer it into your bank account.¹

You can add money to your Venmo balance via a bank account or debit card – or you can fund transfers using a linked payment method.²

It’s easy to connect your bank account to Wise and Venmo, but you may not be able to send direct transfers between the platforms. Instead, you may need to connect your Wise account to a third-party transfer provider.

Can you transfer money from Venmo to Wise?

You can use a network platform like Plaid® to transfer money from Venmo to your Wise account. Plaid partners with Wise to let you link your USD account details to Venmo.

You’ll need to open a Wise account and link your account via Plaid to Venmo to facilitate a transfer between the platforms.

It’s easy to connect your accounts to Plaid. Simply follow these steps:

Step 1. Log into your Plaid Portal account

Step 2. Select “Accounts” and then click the plus sign to add an account

Step 3. Follow the on-screen prompts to go through Plaid’s connection flow. Click “Continue”

Step 4. Follow further on-screen prompts to authenticate your account credentials

Step 5. Select “Add account” to add Wise or Venmo to your Plaid Portal account³

Can you use Venmo to send money internationally?

You can’t use Venmo to make international money transfers, as the app currently only supports payments in the US and some US territories, such as Puerto Rico.⁴

If you want to send money abroad, you’ll need to use an alternative money transfer provider like Wise.

Use your Wise account to switch between over 40 currencies or send money to over 160 countries – all at the mid-market exchange rate.

This is the standard rate for currency conversion, with no added markups or hidden fees. You’ll only pay for what you spend. Sounds fair, right?

No ongoing fees, no hidden charges and no hassle — just fast, transparent international transfers that can beat the banks.

Get started with Wise

Wise vs Venmo

You can use both Wise and Venmo to make digital payments to family and friends in the US.

Venmo acts almost as a social media app, with the option to send text messages and emojis to your recipients.⁴ However, Wise enables foreign currency transfers, whereas Venmo doesn’t work outside the US.

Let’s take a closer look at some of the key differences between Venmo vs Wise.

Wise	Venmo
Over 50% of Wise payments arrive instantly, and currency conversion transfers can take up to 2 working days*	Venmo transfers typically take 1 to 3 business days⁵ or you can send an instant transfer in 30 minutes⁶
Fees start at just 0.33% per transaction**	Venmo transfers are typically free, but you’ll pay 3% to use a linked credit card.⁷ You’ll also pay 1.75% for instant transfers⁶
You can send money to 160+ countries and open a Wise account in 40+ currencies	You can’t use Venmo to make international payments
Your Wise account includes 2 free ATM withdrawals per month	In-network ATM withdrawals are free but you’ll pay 2.50 USD for out-of-network ATM withdrawals⁸
Send up to 1,000,000 USD per local ACH transfer or 1,600,000 USD per international Swift transfer	You can send up to 60,000 USD per week with Venmo⁹
Trustpilot® rating: 4.3	Trustpilot rating: 1.2¹⁰

*Transaction speed claimed depends on funds availability, approval by Wise’s proprietary verification system and systems availability of our partners’ banking system, and may not be available for all transactions.
**Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

Venmo is best suited to small, everyday payments in the US. You can use your digital wallet to pay friends and family, with fee-free or instant transfers.

However, you may need a third-party app like Plaid to send money from Venmo to your Wise account – and you can’t use Venmo abroad.

If you regularly send money overseas, you’ll need an international transfer alternative like Wise. Send and receive your money abroad with a flexible multi-currency account.

💡 More on Venmo
How to send money on Venmo in 7 easy steps How to add money to Venmo without a bank account How to cancel a Venmo payment How to delete your Venmo account Can I have two Venmo accounts? Venmo Business vs Personal: What’s the difference? Is Venmo safe? A complete guide to Venmo fees Venmo card: What is it, how does it work & how to get one

Sources

Venmo - Standard bank transfers FAQ
Venmo - Adding money to your Venmo balance
Plaid - How do I add financial accounts to my Plaid Portal?
Compare Remit - The best Venmo international money transfer alternatives
Venmo - Bank transfer timeline
Venmo - Instant bank transfer FAQ
Venmo
Venmo - About Venmo fees
Venmo - Personal profile payment limits
Trustpilot - Venmo

Sources checked 09.19.2024

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.