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Venmo does not use a traditional bank but partners with various financial institutions to facilitate transactions. To transfer money from Venmo to a bank, users can navigate to the 'Transfer to Bank' option in the app, select the desired bank account, enter the transfer amount, and confirm. Removing a payment method from Venmo involves going to the 'Settings' menu, selecting 'Payment Methods', choosing the method to remove, and following the prompts.

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