You can have two Venmo accounts, even if they're using the same bank account — here's how to set it up

ShutterstockTo have two Venmo accounts using the same bank account, you just need to add your bank information to each account.

  • You can have two Venmo accounts using different bank accounts or even the same bank account.
  • Having two Venmo accounts is a great feature if you share a joint bank account with your partner or family member.
  • When someone else adds the same bank details to their Venmo account, you’ll get a notification, which can help you guard against fraud and theft.
  • Visit Business Insider’s homepage for more stories.

If you have a joint bank account, you may wonder if Venmo – the popular money transfer app for iPhone and Android – will let both you and the person you share the bank account with add it to your respective Venmo accounts.

The short answer: Yes, you can both have that bank account added to your Venmo accounts without causing issues. But it’s limited to two accounts at once.

When this happens, the first person to add the account will get a notification when another user adds that bank information to their own Venmo account. This is meant to help protect users who haven’t given another person permission to add their bank details.

To take advantage of this option for those with joint accounts, all you have to do is make a new Venmo account and add your bank information.

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How to add a bank account to your Venmo account

1. Open the Venmo app on your iPhone or Android phone.

2. Tap the three stacked lines in the top-left corner of the screen to get to the Venmo menu.

3. Select “Payment Methods.”

4. Tap “Add Bank or Card…”

2 CAN YOU HAVE TWO VENMO ACCOUNTSDevon Delfino/Business InsiderAdd a new payment method to your account.

5. Tap “Bank.”

3 CAN YOU HAVE TWO VENMO ACCOUNTSDevon Delfino/Business InsiderUp to two different Venmo accounts can add a single bank.

6. Select how you want to add your bank account: “Instant” (which requires you to sign into your bank account) or “Manually” (which requires you to input your bank account’s routing and account numbers).

CdDevon Delfino/Business InsiderIf your bank has an online banking portal, you can use ‘Instant.’

7. Follow the on-screen prompts according to the method you chose to add your bank account to Venmo.

Be aware that when you add a new bank to your Venmo account, the app will process “micro transfers” for that bank account, meaning they will take out (and immediately return) amounts of less than $US1 each. This is just to verify that you’ve added a valid account.

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