VenmoConsumerAffairs Unaccredited Brand
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!
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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.
My kid used my credit card without my consent. I kept trying to add my card and kept getting an error that the card needed to be released by another account. They informed me it was my son. I contacted my son and he removed the card and then I tried to add the card to my account. Then customer service said he had to call in to verify release of the card. Nowhere does it say that extra step had to be done. The customer service lady was a mindless robot. My name is on the card for Christ sakes! I don't trust these people and their mindless robot minions. Something just smells fishy and when it comes to my money and bank accounts I want a little bit more professionalism. How the heck can my card with my name and without my permission be used on someone else's account?
I am brand new to using Venmo. I just installed the app on my phone last week and used it for the first time on 2/10/18. I was trying to come up with a easy solution for my tenant to pay me rent and after researching apps on Google I chose Venmo because it appeared to be the simplest to use and it's FREE. My tenant installed the app on her phone Saturday and sent me the rent money. I immediately received notification via both email and the app. I clicked the "Accept" button to retrieve the money and it instantly went into my Venmo account. I was so excited because I thought I had finally found a solution to getting the rent money. As soon as I clicked "Transfer to Bank" all my happiness went away and that's when everything went downhill.
After selecting "Transfer to Bank" I received a confirmation that the money would be transferred and to expect the deposit on 2/13/18. The morning of 2/13/18 I checked my bank account and the money was not there. It was very early in the morning, so I decided to check it later in the day. Later that morning when I got to work I received an email from Venmo stating my account has been frozen. I'm thinking WTF?!?
So, the first thing I did was Google Venmo's customer service and found the phone #. The rep I spoke to was of no help at all. He couldn't tell me anything and kept saying please follow the instructions in the email. He said it came from the Account Specialist Department and they only answer via email. They don't take calls. I was livid!! So, I hung up with Venmo customer service and followed the instructions in the email. It told me to send an unexpired photo ID. I attached a scan of my driver's license in reply to the email and then waited.
While waiting I read their User Agreement. It states you have to log in from a PC and do a Verification process by entering your date of birth, zip code and last 4 of your SSN. I logged in from my work computer and a Verification window popped up. I entered all the info it asked for and submitted it. During that time I'm still waiting to hear back from Venmo. About 2 hours later I log in again from my work PC and a green window pops up stating "Your account is reactivated". I got excited thinking I would finally get my funds transferred to my bank, but... My excitement was short-lived.
About 2 hours later after still not hearing back from Venmo I contact customer service again. I spoke to Valencia. She explains that my account is still frozen and the only time an account is reactivated is if the account has a balance (which I didn't), so she found that odd and I was, once again, disappointed to find out my account is still frozen. I told her I sent my driver's license and did the verification, so what's the hold up? She put me on hold and told me she found my email with my scanned driver's license and told me they wouldn't accept that. It has to be an actual picture of my driver's license (not a scanned copy). She told me to take a pic of my license with my phone and email it to Venmo. You would think I was applying for a car loan!! This is ridiculous!! But I went ahead and did it.
This morning when I got to work I was determined to make someone give me answers. I chatted with Venmo through the app and the rep told me it's a "simple verification process for new users" and that I should expect a resolution within 3-4 business days. Thank God, I already had enough money in my bank account to cover the mortgage payment or I would've been SOL depending on Venmo to transfer the money into my bank account. As a first time user I will tell you to beware of using this app. It may be simple if you're just sending a couple dollars to people to pay for things, but don't think about using this app for large transactions or you will find yourself wondering if you'll ever see your money.
I wish I had found this website and read all the bad reviews prior to using the app. I could have saved myself from the frustration of dealing with such an incompetent company that doesn't puts zero emphasis in providing good customer service. This app is owned by PayPal and I find it extremely hard to believe that a billion dollar company like that would develop an app with so much inconsistency in their level of service. I hope I get my money or at least I hope they send it back to my tenant so she can pay me by check. I would hate to have to write this loss off her rent, because I can't afford it. Venmo needs to step up and do better. This is UNACCEPTABLE!!!
Venmo has failed to release 2 bank transfers to my TD Checking account ending in ** via standard transfer 2/12 and 2/13. I called on 2/13 to speak with a live person but the representative stated that the department that handles my transaction cannot be reached by phone. This practice is deceptive and deceptive and I have lodged a complaint with The Federal Trade Commission, Consumer Affairs, The Better Business Bureau and Superior Court.
Venmo has failed to release 2 bank transfers to my TD Checking account ending in 5724 via standard transfer 2/12 and 2/13. I called on 2/13 to speak with a live person but the representative stated that the department that handles my transaction can not be reached by phone. This practice is deceptive and I have lodged a complaint with The Federal Trade Commission, Consumer Affairs, The Better Business Bureau and Superior Court.
Never heard of Venmo until I checked my bank statement and saw that it was compromised. $800 was scammed and customer service as most of the reviews stated here are of no help. My banking Institution is disputing the charges now and I too am livid! Stay clear.
Late last night (2/9/2018) my bank account was drained of every penny through Venmo, and thankfully I have alerts set up so I was able to cancel my card and feeeze my account before their other withdrawal attempts of another $750 and $500 were made. I emailed Venmo and chatted with them and they told me there is no record and so it couldn’t have come from them. (Even though there is proof through my bank statement.) Thankfully I have fraud protection, so I will get my money back, but I am absolutely livid that this happened. Their security is garbage, just like PayPal, which I found out OWNS VENMO. So honestly it doesn’t surprise me that this happened because PayPal has had numerous breaches. I will never EVER use PayPal or Venmo ever again and I hope others quit too. I wouldn’t wish this on anybody! Be safe y’all.
This company got access to my checking account without permission and withdrew 650.00. When I contacted them they said they had no control over the withdrawal and there was nothing they could do about it. What kind of company moves billions of dollars and has no control over where it comes from or where it goes?
I had never even heard of Venmo until yesterday when someone used it to drain $565 from my bank account before it could be shut off. I'm extremely displeased to see that Venmo takes zero interest in rectifying this situation & appears to have no interest in protecting consumers against fraud. I'm guessing it's because they want to process as many transactions as possible so they can skim their cut off the top. I would never recommend this app to anyone!
I was performing a simple Venmo to my sister and my account was frozen for suspicious activity although the money was taken out of my bank's checking account but never deposited into my sister's bank account despite my request. They are holding my money but refuse to let me know how to unfreeze my account. Customer service is unresponsive.
While being away with friends for a weekend, I got a notification that my account was frozen. I reached out to their support right away, 3 days later their support is still unhelpful and hasn't done anything to unblock my account. They request personal information that they have no business knowing and won't do anything. I have been contacting them several times daily as they still have a few hundred dollars of mine but I only get rebuff emails. This service is a scam and they are unfriendly thieves. Do yourself a favor, don't use their service and use your bank money transfer, that's what I'll be doing now...
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.
Venmo Company Information
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