What is "VENMO*CASHOUT" on my bank statement?
VENMO*CASHOUT is usually a legitimate Venmo instant transfer of your balance to a bank or debit card.
Merchant: Venmo | Category: Financial Services
What Is This Charge?
A charge from Venmo reflects a transfer of money through the Venmo app, and VENMO*CASHOUT usually means you moved your Venmo balance to a bank account or debit card. Venmo was founded in 2009, and it is a peer-to-peer payments platform owned by PayPal. Venmo does not operate retail stores, so this descriptor is tied to a digital money transfer rather than an in-person purchase. The charge is most often a cash-out, instant transfer, or balance withdrawal initiated inside the Venmo app.
Why Does This Charge Appear on My Statement?
This charge appears when you tap a cash-out option in the Venmo app and send money from your Venmo balance to an external card or bank account. It can also appear after you accept a payment, then move the funds out immediately using Instant Transfer. A second common trigger is a scheduled or manual transfer from your Venmo balance to your linked debit card or bank account. If you share your Venmo login or device access, another person can also initiate the transfer and create this descriptor.
Typical Charge Amounts
Typical VENMO*CASHOUT amounts match the exact balance you moved, such as $5.00, $25.00, $100.00, or $500.00. Venmo Instant Transfer usually charges a fee of 1.75% of the transfer amount, with a minimum fee of $0.25 and a maximum fee of $25.00 per transfer. Standard bank transfers are usually free, so the statement line may show only the amount moved with no extra fee. If a debit card or bank places a temporary verification hold, the hold is often $1.00 before the final transfer posts.
Common Variations
VENMO*CASHOUT VENMO CASHOUT VENMO*CASHOUT*INSTANT VENMO*CASHOUT TRANSFER VENMO CASH OUT VENMO*TRANSFER VENMO*PAYMENT VENMO*BANK TRANSFER VENMO*CARD CASHOUT VENMO*INSTANT TRANSFER
Is This Charge Legitimate?
A VENMO*CASHOUT charge is usually legitimate if you opened the Venmo app and moved money to your bank or debit card. Check the Venmo app first, then open the Activity tab and match the date, amount, and destination account to the statement line. Review your email inbox for a Venmo transfer receipt, and check whether the transfer was marked Standard or Instant. If you do not recognize the transfer, change your Venmo password immediately, enable two-factor authentication, and review linked devices and payment methods at https://venmo.com.
How to Dispute or Cancel
1. Open the Venmo app and tap the transaction to confirm whether it was a Standard transfer or an Instant Transfer. 2. If the transfer was unauthorized, contact Venmo Support through the app or at https://help.venmo.com and report the transaction right away. 3. Venmo transfer fees are generally not refundable once the transfer is completed, so act before the money is withdrawn again. 4. If the charge was made by someone else, also call your bank or card issuer using the number on the back of your card and start a dispute at the same time. 5. If your linked bank account or debit card was used without permission, ask your bank to block future transfers and replace the card if needed.
Frequently Asked Questions
Why does my Venmo charge show as VENMO*CASHOUT?
VENMO*CASHOUT usually means you used Venmo to move money out of your balance and into a bank account or debit card. The descriptor can look different from the app name because payment processors shorten transaction labels. It is most often tied to an Instant Transfer or a balance withdrawal, not a store purchase.
How do I cancel my Venmo subscription?
Venmo is not a subscription service, so there is usually nothing to cancel for a VENMO*CASHOUT charge. If you meant an automatic transfer or a linked payment method, open the Venmo app, review the transaction, and remove any recurring bank or card connections. You should also turn off any scheduled transfers and change your password if you did not authorize the activity.
Why is my Venmo charge a different amount than expected?
The amount can differ because Venmo Instant Transfer adds a fee of 1.75% with a minimum of $0.25 and a maximum of $25.00. A standard transfer may show only the amount moved, while a card or bank may also place a temporary $1.00 verification hold. If the amount still looks wrong, compare the app receipt with the statement line and check whether you selected Instant instead of Standard transfer.
Can Venmo cash-out charges be reversed?
A completed Venmo cash-out is often hard to reverse because the money has already been sent to the bank or debit card. Open the transaction in the Venmo app and contact support immediately if you made a mistake or suspect fraud. If the transfer was unauthorized, file a dispute with your bank at the same time so both sides can review the transaction.
How can I tell if VENMO*CASHOUT is fraud?
Check whether the transfer appears in your Venmo Activity feed, your email receipts, and your linked bank or card history. If you do not see a matching transfer, assume the charge may be unauthorized and secure your account right away. Change your password, enable two-factor authentication, and contact Venmo Support through https://help.venmo.com before the money moves again.
Similar Charges
- VENMO*CASHOUT
- VENMO CASHOUT
- VENMO*CASHOUT*INSTANT
- VENMO*CASHOUT TRANSFER
- VENMO CASH OUT