Venmo is a safe & brilliant platform for online transactions. A Venmo account saves you a lot of trouble; paying online has never been easier or cheaper. Then, if you’ve wondered whether you can create a new Venmo account with the same debit card or bank account, you can. Let me walk you through the process on How do I Set up a Second Venmo Account.
Setting Up a Second Venmo Account: Step-by-Step
Venmo is one of the quickest ways to conduct online payments. If you’re considering opening another Venmo account but are unsure how to, do keep reading. It’s even possible to use the same card or bank information for the second account. Although, there are a few conditions:
- It has to be a joint bank account; the first user will be notified every time the second account makes a payment for security purposes.
- The second account is a business account.
- Both accounts cannot be tied to the same phone number.
To set up a second Venmo account using a joint bank account
Step 1: Open the Venmo app on your phone and sign in to your new account. Then tap “Me” at the bottom right or the navigation drawer on the top right. Now you’re exposed to a menu.
Step 2: Tap on “Settings.”
Step 3: Choose “Payment Methods” from the options.
Step 4: At the bottom, you can see the link to “Add bank or card” to your recently opened account.
Step 5: Choose “Bank” from the footer popup menu.
Step 6: This will present another popup with options about adding a bank account to Venmo. If your bank account supports an online banking option, the recommended choice is “Instant.” It’d require you to sign in to the bank account through the app. Or, you can enter the bank information manually. Although this way, it may take 3 business days for it to verify and activate.
Follow through the procedures, and you’re done adding another Venmo account to your bank successfully. This feature is convenient for couples/spouses, business partners, etc., who share a joint bank account. But remember that the account limit is set to two, you cannot add more than that, or it may prove harmful to your first account. Similar risks occur if you try to use the same phone number for both profiles. There are a few roundabout ways, such as adding an alternative phone number with your one, entering temporary phone numbers, etc.
Create your second Venmo account as a Business Account
Remember that you cannot open a business account without creating a personal account first; it’s more of a supplementary profile than a separate one. So, considering that your initial account is personal and you wish to create a business profile, it’d require you to proceed as follows,
Step 1: Sign in to your personal Venmo account. Tap on the three stacked bars icon on the top; it will prompt a side popup bar.
Step 2: Go to “Settings.”
Step 3: Press “Create Business Profile” under Edit profile.
Step 4: Fill out the Information regarding your business to customize your business account on Venmo.
And that’s about it, folks! Now you have effectively set up two Venmo accounts on one device. The accounts will be linked automatically after creating, so you can switch between them effortlessly as per need. You can name the business account differently from your personal profile. One of the primary motivations for a separate business profile is legal grounds since taxation varies based on the type of account.
FAQS on Venmo
Yes! Else you won’t be eligible to make or receive payments. Entering a valid phone number allows you to verify the account and use the app. The number will also be used to keep you updated about your profile’s payment history.
You can name your business account differently from your personal one. Different usernames help you distinguish between the transaction reports.
Using your real name for the username is helpful as it would help your peers to find you quickly. But it isn’t mandatory; you should be able to use the app with any username. However, using one that defines your identity lets others easily find you.
Others can only see your transaction history if you set it to “Public.” You can control the viewers by choosing the other two settings – “Friends only” and “Private.” Go to Me>Settings>Privacy; then select your preferred option. Heed that if it’s an affair with another account, the owner of that account can also see it. You can also choose to hide your past transaction history this way.
Venmo requires you to provide your social security number to avoid fraudulent activities. So, if you wish to access all of the app’s services, you must add your SSN and verify your identity.
Explore Venmo App
Because of its simplistic functions and user-friendly interface, Venmo has become one of the most popular P2P apps very fast. Thus, the directions are pretty straightforward to follow. Hopefully, we have answered your query How do I Set up a Second Venmo Account ? And you found our guide to setting up a second Venmo account helpful. Ciao!
Also, check another article on How To Delete Venmo Transactions?