Venmo Identity Verification: You must verify your identity through the Venmo app if you have intentions of using a balance on Venmo. You must supply basic information, including your name, address, and the last four digits of your Social Security Number, in order to do that (or your Individual Taxpayer Identification Number).

 

Venmo is a money transfer business regulated by the United States Treasury Department. As such, we are obligated to collect certain information from our users to verify their identities.

Why you Should Verify your Identity on Venom

Verifying your identity allows you to make payments using the money in your Venmo account and can enable you to send and transfer greater amounts of money on Venmo.

Venmo is required by federal law to collect certain information from all its users that have access to a balance. We may also ask to verify your identity if you attempt to do any of the following:

  • Send $300.00 or more in one week (rolling 7day period)
  • Transfer $1000.00 or more to your bank in one week
  • Be added as a manager for a group account
  • Receive payments for goods & services through either a personal or business profile.

How to Verify your Identity on Venmo

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.

3. Tap “Settings.”

4. Scroll down to the “Security” section and select “Identity Verification.”

5. Tap “Next” on the one-time security check information page.

6. Enter your information, including legal first and last name, date of birth, the last four digits of your Social Security Number (or select “I don’t have an SSN”), and your address information.

7. Tap “Next” and follow any remaining on-screen prompts

If Venmo isn’t able to verify your identity based on the information you provided, they will contact you for additional information.

Some things you may be asked to provide include a US passport, driver’s license, SSN/ITIN assignment letter, or a tribal I.D. card.

Once you’ve provided that information, it can take up to three business days for the company to review this additional information.

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FAQs on Venmo Identity Verification

Below are some frequently asked questions and answers about Venmo identity verification for you:

1. Is Venmo Request for Identity Verification Legitimate?

The irony is that Venmo which has confirmed that emails asking for a social security number are legitimate—is doing this because cash apps are often used to scam users out of money with tactics like phishing or smishing.

2. Why is Venmo Asking for my SSN?

The department closely regulates and monitors all the money transfers that happen within the platform and keeps a record of who is sending money to whom and how much. In order to prevent any kind of misconduct, the department asks for SSN details through Venmo so as to make sure that the individual is not fraudulent.

3. Why is Venmo Asking for my Bank info again?

Venmo uses Plaid to verify your bank account information and, periodically, your bank account balance to check if you have enough funds to cover certain transactions.

4. Should I give Venmo my SSN?

We understand that there might be some concerns regarding identity authentication on the Venmo app, but providing your SSN is a fundamental part of this process. What is this? Thus, if you truly want to use all Venmo’s services, then yes, it’s vital to verify your identity and provide your Social Security Number.

5. Can Venmo be hacked?

Unfortunately, just like any other account, your Venmo can fall victim to hacking. With your hard-earned money on the line, you need to act quickly the moment you notice signs of suspicious activity.

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