What happens to your Venmo accounts when you die
No beneficiary or trust option on any account, so they pass through the estate
Venmo does not currently support beneficiary designations, transfer-on-death registrations, or trust account titling on any account type. All Venmo accounts pass through the estate at death and may require probate.
When an account holder dies, the executor or administrator will need to contact Venmo with a death certificate and legal authority documents to claim account balances. The process and required documents are covered on the death claim page.
Venmo does not currently support beneficiary designations (POD or TOD) on any account type. All accounts transfer through the estate at death and may require probate.
Why trust accounts are not available
Venmo does not support retitling accounts into a trust, naming a trust as beneficiary, or any other probate-avoidance mechanism. Account balances transfer through the estate at death.
Venmo Balance
The balance in a Venmo account, funded by payments, Direct Deposit and transfers. Venmo is not a bank. U.S. dollar funds are placed at one or more Program Banks, eligible for pass-through FDIC insurance, once the user has used Direct Deposit or the cash a check feature, bought or received crypto, or been issued a Venmo Debit Card that has not been closed or canceled; other funds are unsecured claims against PayPal, Inc. The Program Banks are currently Goldman Sachs Bank USA, Wells Fargo Bank, N.A. and JPMorgan Chase Bank, N.A. The User Agreement provides no beneficiary designation, joint ownership or trust titling. When a user dies, Venmo issues any remaining balance as a check after the estate documentation it requests.
Venmo Debit Card
Mastercard debit card issued by The Bancorp Bank, N.A. and funded by the Venmo balance. No fee to get the card, no monthly fee and no minimum balance. Venmo Stash rewards pay 1% cash back at participating brands, 2% after $250 and 5% after $1,500 in qualifying monthly spend, up to $100 cash back per month. No fee at MoneyPass ATMs in the U.S.; $2.50 at non-MoneyPass and non-U.S. ATMs; $3.00 for an over-the-counter cash withdrawal that requires a signature. Venmo does not charge international transaction fees. 24/7 fraud monitoring. Can be added to Apple Pay and Google Pay. The Bancorp Bank, N.A. is issuer of the card only and not responsible for the associated accounts.
Venmo Direct Deposit
Direct Deposit uses the account and routing numbers shown in the Venmo app; the partner bank Venmo names for Direct Deposit forms is The Bancorp Bank N.A., Sioux Falls, SD. Paychecks can arrive up to two days early when the employer sends pay information in advance, and federal tax refunds up to 5 days early. Can receive paychecks, unemployment payments, tax refunds, Social Security payments and other government payments, as the whole paycheck or part of it. No fee. Deposits go to the Venmo balance, and using Direct Deposit makes the U.S. dollar balance eligible for pass-through FDIC insurance at the Program Banks.
Venmo Teen Account
A sub-account for teens aged 13-17 linked to a parent or guardian's personal Venmo account; activity in it is treated as the parent or guardian's activity under the User Agreement. Includes a Teen Debit Card with no application fee, no monthly fee and no minimum balance. Parents and guardians can lock and unlock the card, monitor the balance and receive activity notifications; teen transactions default to private. Limits: $3,000 per day and $7,000 per week for card purchases, $400 per day at ATMs, $2,000 per week in person-to-person payments. Direct Deposit is available, but Teen Accounts cannot receive federal or state government payments, including tax refunds. When a teen starts setup, the parent or guardian approves it within 14 days.
Venmo Cryptocurrency
What Venmo says about beneficiaries and trusts
Each section is Venmo's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary1
What Venmo's agreement says about beneficiaries1
- Joint accounts
Venmo's User Agreement provides no joint ownership of a Venmo account. Each user may hold one personal account.1
Which accounts a trust can hold2
- Stored balance
Venmo accounts are personal accounts held by one individual. The User Agreement provides no way to open or retitle a Venmo account in the name of a trust.1
A person opens a personal account, one per person, as a resident of the United States or its territories who is at least 18 or the age of majority in their state, using a phone number they own.1
- Business account
Business accounts need Venmo's express written approval, and Venmo is not currently accepting applications for new business accounts. The User Agreement provides no trust titling.1
Not in Venmo's published guidance2
- What the owner provides to name a beneficiary
- Which trust documents it accepts
Sources
Data sourced from Venmo primary sources (19 pages reviewed). How we research.
Download these Venmo instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Venmo primary sources. Bring it to the branch or keep it beside the phone.
Venmo estate support
Venmo General Support
Estate requests go through general customer service.
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