Wondering to yourself Why can’t I close my Venmo account?
Venmo has become quite a popular platform when it comes to digital wallet services. The software is simple to install on your smartphone and allows you to divide bills, request and transfer money, all without having to deal with cash.
Unfortunately, it’s no secret that Venmo isn’t for everyone. Some people may not have the same experience and would rather prefer other services such as Google Wallet or PayPal. But you can’t just leave your Venmo account inactive as your bank information is tied to it.
People end up launching Venmo applications only to find out that the option isn’t available. This leaves them wondering why can’t I close my Venmo account? To find out the answer to this question and learn how you can delete your Venmo account, read through this guide. We’ve covered all you that you’re looking for and more.
So without further ado, let’s get started!
Why Can’t I Close My Venmo Account
If you’re wondering “Why can’t I close my Venmo account”, it’s important to know that the platform doesn’t restrict you from saying goodbye to their services. However, there are certain strict requirements that need to be met before you can go ahead and delete your account once and for all. Let’s take a quick look at those:
1. You’re Using the Venmo App.
For most people, using a Venmo account on the mobile app is convenient as you can make and receive payments on the go. However, as easy as the service gets in the application, it simply cannot be used to delete your account forever.
There is no option to close your account when using a Venmo app. To do so, you’ll need to access Venmo from a desktop computer.
2. Your Account Still Has Funds.
If you’re still unable to view the option to delete your account, it will probably be because you still have available funds on your account. Venmo does not allow you to close your account if you have unfinished business with them. Therefore, you’ll need to transfer all the funds prior to deleting your account.
Also, for safety measures, try to use a personal computer as your account will have important financial information that should never be shared with a third person.
Reasons Why You Might Want to Close Your Venmo Account
There could be several reasons why one may want to close their Venmo account forever. You might have created it and in fact had a great experience on the platform, but you don’t need it anymore. In such a case, you don’t have to keep your account and go inactive. Simply deleting and moving to other methods of storing and transferring money would be a smart choice.
Another reason could be you opened the account because you thought you might need it but never ended up using it. Then, the best option for you in this situation is to simply close your account forever.
You may have also found a better alternative to Venmo, with better features and ease of use. Then, there’s no point of keeping your Venmo account active as you’ll most probably never go back to using it. Hence, deleting the account appears to be a better option to handle the matter.
Things You Need to Know Before Closing Your Venmo Account
Before you jump straight to closing your Venmo account, here are a few important things you should keep in mind:
1. You Can’t Recover Your Profile Afterward.
When you’re closing your Venmo account, you’re doing it forever. The deleted account will not be recovered in the future in any case. So, take the final decision in light of this information and only do it once you’re sure the account is useless.
While the account won’t be recovered, if you happen to need a Venmo account later on in life, you can simply create a new profile.
2. Transfer Your Funds.
Venmo doesn’t allow you to have unfinished business with them. Your account needs to get emptied before deleting your account. The process will take a few business days to complete.
You can either transfer the available funds to your local bank account or return to their original sender. The delete option won’t show up unless your transactions are completed.
3. Save Your Transaction History.
Your transaction history is extremely important as you might need to comply with Federal Regulations in the future. Thus, even if you delete your Venmo account, you need to save your entire transaction timeline since you never know what you may have to end up facing later on.
How to Permanently Delete Your Venmo Account
Now that you’re well aware of all the basics related to closing your Venmo account forever, you’re ready to go ahead with deleting the account. Below, we’ll guide you through each step in detail on how to do it properly.
So follow along!
1. Login to Your Venmo Account.
As mentioned earlier, the option to delete your Venmo account is not available in the Venmo mobile app. Hence, you’ll need to login to your account from your computer browser. Here’s what you need to do:
- Turn on your computer and launch your preferred browser.
- Then, visit the Venmo official website.
- Click on the Login button at the right corner of the webpage.
- There, enter your account’s login credentials then click on the Sign In button.
- In case you’ve enabled two factor authentication for your account tap on Send Code.
- Then, wait for Venmo to send you a login code through your phone number or email. Once you receive it, type that in and click on Submit Code to get access to your account. If you don’t receive it, click on Resend code.
- If you don’t remember the password for your account, you need to click on the Forgot Password link on the login page.
- Venmo will ask you to enter your email address or phone number that’s associated with your account.
- After that, click on Submit.
- Venmo will then send you a password reset link through an email or a text message. Simply open that link to create a new password for your account.
- Click on Save Password when you’re done and enter your new details on the login page to access your Venmo account.
2. Transfer All Remaining Funds.
Since you can’t proceed with deleting your account unless all transactions are completed this step becomes necessary to follow. You have the option to move your funds to your bank account. If not, you can always give it back to the original sender. Note that you can also perform this step from the Venmo mobile application.
Follow the steps below to move your money from your account:
- Firstly, launch the Venmo app on your phone.
- Next, login to your account if not already.
- Then, tap on the three horizontal bars menu.
- Tap on the Transfer balance link next to your current balance.
- Enter the amount you want to transfer.
- Next, choose where you would like to transfer the money, i.e. to your bank or debit card.
- If you have multiple accounts or cards set up, tap on Transfer to.
- From there, you can even add another bank or debit card by tapping on the Add bank or debit card option.
- When done, go back and proceed with the money transfer by tapping on the green Transfer button.
- You can make as many transfers as you’d like until you’re left with zero funds.
3. Delete Your Venmo Account.
Now that you’re done taking the necessary measures, it’s finally time to close your Venmo account forever. Here’s how to do it:
- To delete your account, you first need to login to Venmo using a browser on your computer.
- Once there, go to the Settings from the tabs available at the left side of the window.
- This will take you to your profile settings. At the bottom of the page, click on the Close my Venmo Account option.
- You will get a pop up message asking you to download your recent statement. Go ahead and click on Next.
- Then, click on the Download CSV button next to Completed Transactions on the next screen.
- Go through the information then click on Next.
- Finally, confirm the deletion of your account by clicking on Close Account.
Although your account is deleted, Venmo will send you a final email containing recent transactions. It’s advisable to never delete that email as you never know when you may end up needing it.
Delete Venmo Account For A Deceased Person
If you were responsible for a deceased person’s personal belongings after they passed away, it’s best to delete their Venmo account since it’s tied to the finances. Fortunately, you have a variety of options when it comes to deleting a deceased person’s Venmo account. They are as follows:
1. Login to Their Account.
If you know their Venmo account’s login credentials, you can simply follow the steps above to close their account permanently. However, if you don’t have the password, you can reset their account’s password, also a method that we’ve explained above. Moreover, if you have access to their phone that happens to have the Venmo app, you can reset the password from there then login to their account from a computer to delete it.
2. Contact Venmo Support.
If the options mentioned above failed to be of any use, your last resort is to contact the Venmo support team and ask them for assistance. You can call them at 855-812-4430 and explain the whole situation to them. Also, make sure you have some important documents ready to send them for proof, such as your ID or the deceased person’s death certificate.
Frequently Asked Questions (FAQs):
How do I delete my Venmo account from my phone?
Unfortunately, there is no possible way to delete your Venmo account from a smartphone. Venmo is yet to release such an option however there are very few chances they’ll make it available any time soon. This leaves you with only a single option and that is to delete your Venmo account from a computer.
How to delete payment or bank account information on Venmo?
To do that, launch the Venmo app and login to your account. Then tap on the three horizontal bars menu and open Settings. From there, go to Payment Methods. Finally, choose the bank account or payment method you wish to delete and tap on Remove Bank.
Wrapping Up: Why Can’t I Close My Venmo Account
This brings us to the end of our guide. Now you know the answer to your query, Why can’t I close my Venmo account. We’ve also covered in detail when closing your Venmo account is possible and how to do it. For more questions, head to the comment section below. We’ll be more than happy to provide further assistance.
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