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These people are awful. I thought I set up an account. Someone sent me a cash transfer, but my phone number was not correct. So they will not send it to my bank account, return it to the sender, nor correct the phone number. After 6 months they KEEP IT. Be VERY Careful when using this service. They have no interest in solving problems. The default for them is to do nothing and keep the money. It is awful. It is NOT quick and easy - nor risk free. However, since the money being sent has not been received, and transaction can be reversed. Sellers should know this. A TOTAL rip off.
Account frozen without explanation or chance for recourse. Venmo is ridiculous. First they freeze accounts stating it has been "suspended due to recent activity that appears to be a violation of our User Agreement" and write "if you would like to reactivate your account, please reply to this email with a picture of your unexpired US government issued photo identification to begin the review".
However, after sending the requested information, they then state "Your account was recently assessed for high risk activity and was determined to have significant potential for creating loss to Venmo. Due to the level of risk associated with your account, we're unfortunately unable to unfreeze your account for continued use." And refuse to elaborate any further. With such serious accusations, consumers obviously require an explanation of what it was that triggered the account being frozen, and as in my case, to contest it as the accusations are, quite frankly, ridiculous and downright offensive.
It's design, ultimately, is for use with other Venmo users, which is limiting. That is compounded by the limited number of financial institutions you can even link. So in other words, if Venmo doesn't play nice with the other money kids on the block - they just don't let you link to them and your money is held in Venmo purgatory. Ironically, PayPal (which in of itself is a racketeer) owns Venmo but Venmo cash can't be transferred to your PayPal account. Wow, just wow. I literally opened and closed my account within four hours of trying to navigate ways to actually get my money transferred the hell out of Venmo's hostage hole.
VENMO STRIKES AGAIN... MY ACCOUNT IS FROZEN AGAIN... I have been waiting 5 days for a response, sent them my ID's multiple times, bank statements, copies of credit cards and they still haven't fixed my issue. Why have a company where you can send money to and from your family in an emergency situation and then they freeze your account and you can't access it AND you can't get your "account specialist" to respond to you. Customer Service told me just now that I will just have to wait for them to email me and my "Account Specialist" has other customers. Are you kidding!?!? She basically told me that my issue doesn't matter and there is nothing she could do about it. After I retrieve my money (if that ever happens), I will NEVER use VENMO again! Horrible experience.
I sent a payment of 1000.00 to a friend, my account was immediately frozen. I contacted customer service and got the account security team will contact you. They did and ask for photo ID, I sent what they ask for. It has been at this point 3+ days ago. I requested they process payment to my friend or refund my money. At this point, I have contacted customer service 2 times a day. Still no action or word from security team. Where has not Federal Consumer Commissions Closed these people down and jailed some of them? PayPal is the parent company they should be fined and someone there jailed.
Updated on 05/25/2018: This is an update on earlier report. The people at Venmo got tiered of flipping coin and canceled my account. (Don't care) but they immediately tried to deflect my demand for the refund of my payment money. They tried to blame receiver and my bank. I checked both quickly. Filed a dispute with bank (fraud). Demanded my refund again, this time it was need more ID and proof of payment. Odd they had enough to try and steal my payment but I sent them what they ask for. I will have to ride them like a bike to get action. By the way this Venmo is a part of PayPal. Will update you if I get refunded. Thank you.
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My son is a doctor and he sent me money for Mother's Day. It said to use my debit card for immediate payment. They refused several of my debit cards and asked me to verify my bank acct. and I did. It said that I would have to verify deposits and withdrawals. Which I did then it said the money would be there tomorrow which it wasn't. Lie after lie.
I tried working with Venmo to give me my money ($3,000) or return money to sender and they refused to do so. Spent 10 days trying to work with them. I filed a complaint with PayPal's internal hotline. Go online and file a complaint. Search for Compliance under PayPal.
Received money from my kids to share buying a mother's day present ALMOST without a hitch. Was a bit spooked because I saw a list of financial transactions (without the amounts) of various Facebook friends... On the other hand my youngest son says he and his friends have been using it for 3 years with no real complaints. Not a huge fan, and they HAVE demonstrated that they can withdraw money from my account as well as deposit it with their verification process, but it's not a one-star review.
I helped a friend move some stuff - the "joys" of owning a full size pickup truck! At any rate, he said he would give me some money to pay for gas; the downside of owning a pickup truck (not fuel efficient). He said it would be easy and convenient for us to do so by Venmo. So I created an account with Venmo. He transferred money to me. When I went to transfer to my bank via my debit card, the process was declined. No explanation was given. So, I contacted "customer service"; I can't really say they are deserving of that name as they are not equipped to actually provide any service. They were able to "confirm" that my transfer was declined. I already knew that and was why I was contacting them. Long story short, they were not able to tell me why. Now would they transfer me to anyone who could. Basically spend half an hour with them to confirm my transfer was not completed.
When I asked if there was a number I could call, they said yes but they close at 3:00 CST. I am in PST so 3:00 pm and they are closed??? Really?? Venmo calls this customer service?? Then I was told only the "review department" could tell me why. I asked, "Can you transfer me to them" and was told no. At this point, I am waiting for the mystery department to tell me why they are incapable to transferring my funds when everyone else seems to have no problem. No indication of when this might be. Maybe I have to file a small claims against them... This is my first experience with Venmo and needless to say my last. I can accept problems happen but the total lack of a system to remedy a problem is unacceptable. I cannot stress enough to never do business with such a shady organization. Buyer beware. The case number is **.
5 days ago (Sunday) I was attempting to sell my car to someone who did not have access to the $1500 cash. We agreed to set up accounts through Venmo and transfer the money that way. Venmo took the money out of his account right away and Venmo informed me that the money would be transferred in 3 business days. On the third business day, they sent me this email: "Your Venmo account has been suspended due to recent activity that appears to be a violation of our User Agreement. If you would like to reactivate your account, please reply to this email with a picture of your unexpired US government-issued photo identification to begin the review. Acceptable forms of ID include a driver’s license, state ID card, passport, and green card. The name on your photo ID should match the name registered to your Venmo account. We require this information to ensure you are the legal account holder."
I sent them a picture of my ID. On the fourth business day, Venmo sent me the following email: "Thank you for reaching out. While we encourage the use of Venmo, we must ensure all users abide by our User Agreement. After reviewing your inquiries and account activity, we have found that your actions and activity have been in violation of this agreement. As a result, your account has been permanently deactivated and we regret to inform you that we can no longer offer you the Venmo service.
"We do not make these decisions lightly, and when we do, it is because we must ensure that Venmo continues to be a safe way to make payments. Please note that we were unable to process your recent bank transfer, if you requested one. You'll need to arrange payment outside of Venmo. If you have questions regarding this decision, know that we do not divulge our decision-making criteria in order to protect the systems that monitor activity on Venmo. I apologize that we are unable to assist you further."
The other party whom was trying to send me money, said they experienced the same thing about being locked out of their account. Venmo has taken the money out of his personal bank account and put into his Venmo account, then attempted to transfer it to me. Venmo has now deactivated his account. I then called Venmo and the account rep said that I need to email them back and ask where is the money. I have emailed them and have not heard back.
My Venmo account deducted from my bank without notice 200.00 on April 11th and I wrote to them, chatted and they said they would solve it! It has been over a week, tomorrow is the 19th and nobody has followed up or called or solved their mistake!
I have never heard about this fraudulent company until this morning when I was checking my bank account and found 6 transactions of $1,785 total drawn from my account without my knowledge and authorization. WTF! I don`t even know what Venmo is, I don`t have an account with them or anything. I called my bank and opened a claim... did you guys filed a police report?
Just like everyone else here... I have the same complaint about Venmo. I had only had Venmo for approx. 3 months. I was notified that my account had been frozen. They asked for me to verify my ID so I sent in my driver's license... A few hours later they emailed me saying my account was suspended due to violating their terms and policies. Reading their terms and policies I cannot find anything that I had done wrong. Nor could Venmo offer me any other explanation. It seems to me since PayPal bought Venmo this company has gone downhill.
I would like to make you aware of a very disappointing experience with Venmo. I want to start off by saying I am currently serving in the US military and I have never broken a law, nor participated in any illegal activity, yet Venmo has treated me like a criminal. I simply called Venmo to advise them of a complete stranger attempting to deposit money into my account. I was trying to do the right thing, and I was accused of participating in activities that broke regulations put in place by Venmo and this is simply untrue. Not to mention, the money I have in my account is being held until I am investigated. I feel disgusted that Venmo would treat anyone this way, and I will be making complaints to any outlet available to me. Venmo should be ashamed of the awful service they provide, and the disgusting way they treat their customers. SHAME ON YOU VENMO! I will be suggesting to all of my friends and family members to close their Venmo accounts!
Has anyone found a way to deal with this company and making them return funds that are not theirs to keep? I was using Venmo for about a year and all of a sudden they froze my account and are holding on to my money indefinitely. They are not telling me what part of the agreement was violated and not sharing any information - however refusing to give back the funds. Multiple calls to their helpline has not been helpful. My next step is to blast PayPal escalation and executives with emails as well as to contact my attorney and send them a letter. PayPal Inc. Attention: Legal Department. 2211 N. 1st Street, San Jose, CA 95131.
Horrible, horrible situation. $800 is in limbo. $800 removed from my bank checking account, but not transferred to recipient's bank account. Account suspended even though money already taken from my account. The recipient's account is also suspended and the money is with Venmo. Suspension due to not enough information. But they already processed a similar transaction without requiring additional information to the SAME recipient, now they want information from me and the recipient? Customer support is not able to help; they just tell you that you need to exchange emails with a specialist. The call center has no specialists available. I'll use BillPay from now on.
So this is my first time using Venmo and I get 500!!! Sent to me from a friend to pay bills. Go to Venmo to transfer the funds and it get a error telling me it can't transfer to my acct. I call customer service. First thing on the recording is that the system is down and they don't know when it will be fixed. Which is unacceptable to take money from people that can't be transferred out of the app. So I wait to a agent. The agent tells me the same thing like she doesn't know when the funds will be avail. This is the worst company I have ever dealt with. Do not do business with these people!!! Do not!!!
I’ve used Venmo without issue for almost a year when recently my account was frozen. The worst part was they allowed transactions to go through without issue and then froze it when I tried taking the money out. I’m now jumping through hoops attempting to get my funds released. PayPal ruined Venmo!
I have exactly one day of experience with this company: These guys are *extremely* shady. They ask for your bank account credentials. This is *huge* red flag. Never give *any* company the username/password for your bank! Unable to add debit cards. App errors out claiming 'invalid zip code'. I had someone send me $5 as a test. The account was immediately 'frozen' by Venmo, and which point they asked for five separate pieces of documentation to prove my identity. It's too much of a hassle so I called it quits. Venmo is the very definition of a useless company. I'm starting to understand why millennials are shunning the conventional banking system and switching to Bitcoin and other cryptos. Who on earth would want to deal with a mismanaged, fraud of a company like Venmo? The fact that these shady people are still in business is appalling to me.
Today, 3/15/2018 VENMO NY charged my debit card two charges, $500 and $250. I never heard of Venmo before today. I do not have an account with them. I called my bank, had my card frozen, called PayPal, I’ve used them for many years and they claim to know nothing, of course. I finally found a phone number for Venmo, they have no record of me whatsoever as I am not a user, correct. Venmo told me to contact my bank and claimed that they couldn’t search for the transactions even though I had transaction number from my bank. Looking around the internet, I find that this is a common practice of Venmo, so I am just one of hundreds being ripped off by them and Venmo taking no responsibility. If anyone has suggestions as to how do something about this thievery, please comment. By the way, my bank account is now overdrawn by nearly $500. I get by on a frayed shoestring so this is a huge problem for me. Thank you.
Sent a payment to a travelling companion for a cruise she booked for us. Since one of the days was in Havana, I playfully wrote "Cuba" in the subject line. This set them off, and I have been going back and forth with them for weeks. They have repeatedly requested invasive amounts of information. Once this gets cleared up -- if ever -- I will stop dealing with them. Only gave one star because zero wasn't an option.
I'm very disappointed how Venmo took $2500 from my checking account when I didn't even link it. I just filed a dispute via bank and they are getting my money back. This is ridiculous - no security check on $2500 fund transfer? How is it possible to get away with the regulators? Soon, Venmo will get charged for lack of compliance as a financial entity. This type of companies should get investigated or improve their security level.
This company does not realize they are dealing with people's money. They are full of miscommunication. Do not use this unless you want to deal with either three hours of customer service conversations or just letting your money go down the drain. Use PayPal instead, it's trusted.
I used Venmo successfully for a few years and was satisfied with it, until now. I sent a payment to someone who was not registered. I canceled the payment and the funds were returned to me, after they continued to charge my account and cause overdraft fees (which I had to clear up with my bank). Then I received another payment that I wanted to transfer to my bank and they took half of it claiming I owe them money! I spent about two hours on chat and on the phone with these people, three or four times they hung up or disconnected the chat. Then they denied that this is an error after asking me for bank statements and verifying my identity way too many times. I do not owe them money, and I hate being hung up on. I wasted time and money with this company, do not do the same.
This company has held $500.00 of mine for a month claiming my account was flagged due to fraudulent activity. I tried adding several different cards in order to get my money out of this account and it violated their user agreement. However when I signed up I never once read a limit on how many cards can be added. I was only informed of this AFTER my account was frozen. They requested numerous documents from me proving my identity which I have complied with yet they are STILL requesting more. I believe they are only delaying the process because they have used my funds and have not replaced them. This is THEFT! Nothing in the user agreement says they have the right to hold my money like this. DO NOT USE THIS COMPANY.
No star for this fraudulent company. They withdrew $1.450 in different tranches on the same night at 2 AM from my checking account overdrawing my account. When I filed a dispute with my bank they claimed Venmo used my ATM card. When I called Venmo, I got a message that I should contact my Bank. I had to block that card and wait for another 7 to 10 business days. In the meantime, my money is gone. I can't believe this company is associated with PayPal with which I am doing a long time business. Not sure what to do after becoming another victim to Venmo. Any suggestions? Did anyone get their money back? How can this company be still in business?
registered with another Venmo user). I tried numerous times to explain I did not even have another card to add nor did I try to add a card and their system made a mistake. They instead pretty much said I was lying and their system did not make a mistake and I tried to add a card. Pretty sure I would remember doing such a thing and they refused to believe me. I don't even think they properly investigated matter as they just saw what the system said and said there was no error, I tried to add a card. So basically this is a company that is infallible and makes no errors and accuses its clients of fraud and deceit than admit they made a mistake. I use Square Cash now for my financial transfers to friends now.
No star is the best review I can give for this racket! I never heard of them until they fraudulently withdrew $1.500 from my checking account overdrawing my account. When I filed a dispute with my bank they claimed Venmo used my ATM card. Adding insult to injury I had to block that card and pay for a new one. Now I'm waiting seven to ten days for my bank to complete their investigation and hopefully reimburse my account. How can this company be still in business and associated with PayPal after all the scam alerts! I also filed a complaint with the FTC.
My CapitalOne360 checking account reported transactions from "Venmo 855-812-4430 NYUS" against its debit card of $0.00 and $800.00 on 02/15/2018 in "pending status"; reported these to the bank's fraud department. At the time we'd never heard of nor done business with Venmo. As of 02/26/2018 we have not recovered any of the missing funds. Also reported fraud to Venmo via their help center.
So I attempted to use Venmo in selling my motorcycle, the buyer sent me 2500$ as a down payment with Venmo, next thing I know my account was frozen, so they requested I send them a copy of my photo ID, which I did. They claimed the money was sent back to the guy who transferred the money but he has nothing stating the payment was refunded, so now I have to deal with lawyers just to get the money back to the original sender. This is ridiculous, never use this service, seems like they just want to rip you off.
Venmo expert review by ConsumerAffairs
Venmo, owned by PayPal, was founded in 2009 and is headquartered in New York. The service lets individuals easily pay one another for their part of a restaurant check, group-purchased gift, utility bill and more. It is popular among younger customers and college students.
Facebook: New users have the option of signing up for a Venmo account with their Facebook login credentials, which makes signing
App: Venmo’s app, available for iOS and Android devices, allows customers to send and receive money easily using their mobile device.
Fees: Users who send money from their Venmo account, a linked bank account, a debit card or a prepaid gift card do not pay any transfer fee. Those who use a credit card must pay a three percent fee. There is no charge for paying for purchases in other mobile apps using a Venmo account. Receiving money is also free.
Payment options: Venmo users can pay for several other services and products in third-party apps, like Gametime and Parking Panda.
Request feature: When friends agree to pay a customer using Venmo, the customer can send a reminder with the click of a request button in the app. This feature removes the awkwardness from reminding others they owe the user money.
Best for: Venmo is best for individuals who frequently split checks or bills with friends or family members.
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