Consumer Complaints and Reviews
Just set up Venmo because of a client request. She transferred funds last Monday (today is Friday). I received notification of this transfer. Today, I logged into my Venmo account and there the funds sit (finally transferred as of today - 5 days later). However, I still have no access to the funds. I had to REQUEST that the funds be put into my bank account. Which will now, not happen until next Tuesday. Recap - VENMO has managed to hold onto $500 dollars for 8 days that they have been able to collect interest on. What a creative racket!!! Will be closing account as soon as they have released MY money!
We attempted to pay our rent through Venmo with our VERIFIED account. They froze our account almost two weeks ago and despite jumping through all of their ridiculous hoops and sending requested re-verifying information THREE times, all we get are more emails requesting the same information we've already supplied. They still refuse to release the funds back to our card. Will be calling card company to cancel the charge and I've filed complaints with the BBB and the FTC. Awful!!
Just had a small commercial bank account that had unauthorized withdrawals through Venmo. Person listed was Steven **. Had $2350 withdrawn in two payments. Contacted the bank fraud department who was able to reverse the funds and put the money back in our account. ACH debits are instantaneous and I didn't see it as a pending payment - only after it was cleared.
We asked to put an ACH debit block on the account. The key to fighting this fraud is to watch your account, contact your bank, and ask your bank for services that better secure your account. Some of these electronic payments can be reversed but you have to do it quickly. Would not recommend Venmo at all - We didn't authorize this transactions so they really need to evaluate their internal controls.
Never heard of VENMO before a few days ago. Just retired and got my first Social Security check auto-deposited. The very next day, someone who had apparently got my checking account routing and account numbers made six separate transfers OUT of my account to someone named STEVEN ** totaling $2,030.00. I wrote to Venmo about this, and to their credit they responded quickly (I had already contacted Wells Fargo and taken appropriate steps). However the VENMO app allowed easy theft from my account, and I don't know how long it will be until I have access to my money again. From the articles I have now read, it's clear that the perpetrator picked VENMO because it's apparently got less safeguards against this sort of thing. I would never trust them with any sort of personal information.
I would never get or recommend a Venmo account; here's my experience: Noticed a fraudulent charge on banking account; called bank, informed them of fraudulent charge and to deactivate card. As Venmo was the point of transaction listed on banking statement I called to inform them of fraudulent charge & request they cancel transaction. Was informed that they could not reverse the charge even if I had placed it & with it being a fraudulent charge I should call my bank. So, they pretty much state that they don't validate their customers; which also means they cannot protect any financial data.
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Funds were held for nearly TWO weeks, between verified users. Father transferred funds to my wife, for my bail. Transfer took nearly two weeks. Meanwhile, I'm sitting in jail. My impounded vehicle is accumulating costs... "Instantly transfer" they say? What a crock!! Avoid this service at all cost.
My wife recently had $1,950.00 unauthorized charged off her Venmo account. Sent to someone she doesn't know. We called in within 10 minutes to report the fraud to Venmo. We were told the system had flagged it for fraud anyhow but they can not refund it unless we upload ID and Credit card and that we had to contact bank and make a chargeback. We call BoA but they tell us they can't do a chargeback until charge completes because it's only processing. We call back to Venmo next morning about the 1950 since it was 90% of our account. They say both our account and the theirs are frozen until we verify ID. We again refuse because currently payment would be on hold and we want our money back not to complete charge. Again they refuse to refund and tell us to file a chargeback. But agree the payment is on hold so the thief did not get money.
Now day 3 rolls around and the charge clears out BOA. We call to make claim Saturday but they say 10 business days and could take up to 90 for final decision. Monday is a holiday so 5 days have passed without any help. I complain rarely but this seems like Venmo is attempting to steal the money. We refused uploading ID because a chargeback should not be needed. Venmo flagged it for fraud and we reported it. No payout has been made. So no loss to Venmo, so why would they need a bank claim unless they were trying to keep money that is not theirs.
Would rate them at 0 if it were an option. PayPal would never hold a flagged transaction and refuse us to refund. Venmo may be owned but has already been pilot under FTC investigation for deceptive and unfair practice. Perhaps not a complete scam company as I have used it a dozen times but for sure shady and they appear to be part of this theft or at least be planning to cash out on insurance claim or something argue the claim, keep our money and screw us out all our bank account.
I was locked out of my Venmo account on mobile 4-5 days ago, so I can't use the Venmo 24hr customer service chat. I was locked out not for any security reasons, but a technical bug that didn't allow me to send a verification code to my email (button was unclickable and greyed out). I could not resolve the issue by signing into venmo.com via my PC web browser either. Customer support took 2 days to send me an automated response notifying me that an agent will contact me in the future. 2 more days later, someone finally responds, totaling 4 days. I decided to close my Venmo account due to technical/support concerns, so I attempted to log into venmo.com on my PC web browser again, but I was met with another bug "JSON.parse: unexpected character at line 1 column 1 of the JSON data". I was completely locked out of my account now. I responded to the email to deactivate my account. Let's see how many days it will take to do this.
It's a money transfer service through PayPal that allows you to send money via mobile. You can link your debit card, bank account or credit card to your Venmo account. It is really easy and safe to use. The extra services that are include is linking your debit card to your Venmo account. You can also link your bank account. The other option is linking you credit card which there is a 3% fee with each transaction. The only additional fees is when you link your credit card to your Venmo account. Here you will be charged a 3% fee with every transaction that you make. The customer service at Venmo is great. They are there when you need and help you with any issues that may arise. They are very knowledgeable about their products so you have nothing to worry about.
Venmo is a fast and easy way to send money to people electronically. It allows you to request for payment from your friends or pay them back for things that they have covered for you. Once you decide to request or pay someone, you have to post about what the transaction is for. If you receive payment from a friend, the money will go towards your Venmo balance where you can decide to have it deposited in your account, or keep it part of your Venmo account to send to other friends when paying them back. Its services are excellent and unlike anything I have ever used or seen. It is extremely innovative and takes away the issue of having to get someone the exact cash that you owe them. Its services are very easy to understand as well.
I do not like apps that are free, but ask for an additional fee. So far, I have not encountered any fees on Venmo, and hope that I will not have to in the future. I have never used asked for customer service, since the app is super easy to navigate, but I am sure it is fantastic, based on how amazing the app is.
Various options are available to use where there is at least one option for every situation that a person could possibly be in and usually 2-3 options for the most common financial situation. I'm not too familiar with the "extra" services that are offered. I never have looked into them because I never needed any other services more than what was readily available. I put satisfied because I'm not sure of the fees. I was never charged fees. The free service that I used I was happy with the fees obviously since there weren't any. I never needed to contact the customer service department so I can't comment or rate their service properly.
I always transfers to my bank acct or my kids. It is an easy set up and simple to use. Just makes it easier to pay or get paid right at home right to your acct. Click that you want to get your money from it and then you choose where you would like it to go and it is in your bank by next day. I use it to transfer money to my kids and when they pay some back to go back in acct for them to use for further dates. It is simple to use right to your bank. I have had not any extra fees like Western Union and MoneyGram does. You get or send the exact amount that is needed. So it cost less in the long run. I have not personally had to call customer service for anything at all. We have never had any issues that requires to speak to anyone and I am so glad for that.
Was very easy to use and very quick to send and receive money. Locations were convenient and fees were very fair compared to other companies fees. There were many different extra services to choose from although I did not choose any on this occasion as there were none that fit my needs. The additional fees and services seemed fair, although I did not add on any extra services at the time of my transaction. The options were wide and the fees very reasonable. I did not have a whole lot of interaction with the customer service staff but the interactions I did have were pleasant enough and I did not have any issues.
They offer a lot of options for security and to transfer money quickly. They also offer ways to be able to protect your money and I am actually impressed with it more than PayPal. The service is pretty outstanding. The quality of their product is pretty good. I do not trust many online pay programs but this one I do. It makes it easier and sufficient to send bills. One area I am not satisfied with... I do not like the fees they charge. They could lower them a bit. That is the only downfall to this service. The customer service answers my questions and also lets me know if there's a problem. If I need to check a payment, they are quick to answer me and provide me with useful feedback.
Easy way to SEND or receive money! Cheap fees and easy to use. Quick services! I sent money with next day shipping and it arrived on time. I used the money next day to send money to my mother. It arrived on time and without any issues! I had no problems and low fees made it easy to send money. There were low fees. I think it was @2.95 to send money next day which is not bad at all. I thought it sent fast and a great speed. No additional fees.
Venmo is a digital money transfer that works instantly drawing funds from your Venmo account or your bank or debit card. I'd recommend to anybody who doesn't have time to deal with money transfers. Digital peer-to-peer payments is the way to go and Venmo is an offshoot of PayPal who's been doing it for years; it charges 3% for a credit card use as it takes time to process. Additional fees is only 3% per peer-to-peer transaction; for instance, if you order a couple of pizzas it won't be as much as a single slice. As a PayPal subsidiary, it works hard at customer service since other digital wallets are coming on board fast as in Square; customer reviews are great so far on Venmo for customer service.
It's similar to Paypal but safer in a sense in terms of transferring money. You have all the options of Western Union such as transfer, deposit, and withdrawal. It's not very widely known like paypal is but those of you who have given it a chance will come to love it just as much if not more than paypal. Like most banks do they charge a small fee for transfers to accounts that aren't within the U.S, it's just a security deposit in a sense to keep your funds safe. Their customer service is 10x better than paypal. They actually take the time to contact you back in regards to your inquiry and issues in a timely manner.
It was okay, would be better if it is easier to understand. It is not very convenient. Many people have never heard of it. Please make it more known. Needs to be available in more areas. Nothing extra was available and the flexibility was not what I expected. Need more options and more user-friendly. Would be nice if there was available help if needed. There should not be any fees associated with these transactions, it is already hard enough to make the payments without added fees. It should be a free service to many or people who qualify. Customer service reps are rude and uncaring. They should be sympathetic to your situation and problems. They should act and sound like they enjoy their job and be more friendly, maybe ask how your day is or something nice.
This was easy to use and I had a few options on the way I would want to transfer money to the receiver. Its secure and safe as well. I would recommend this method to anyone. The services are easy, safe and secure. The customer service is always helpful as well. I have never had any problems when I use this service. The fees are not bad at all. They are low in my opinion so most all others charge a fee as well. This one seems to be the lowest I think. The customer service is outstanding. They are always ready to help. They are very friendly no matter what you may need. They will help you as long as you need it.
Very slow and could have been a lot faster. Really didn't like it. Needs to be a lot better and faster to use. Would not use it again at this time. Their services are good. I wish they was a lot better. I may or may not try them again. It just depends how I'm feeling at the time about it. I don't having to pay additional fees for services. They need to make them free for the customers especially with direct deposit and etc. Their customer service isn't the best in the world. They act like they don't want to talk to you or help you when you call them.
ConsumerAffairs Research Team
The ConsumerAffairs Research Team believes everyone deserves to make smart decisions. We aim to provide readers with the most up-to-date information available about today's consumer products and services.
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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