I have been using Venmo for a while now and while I rarely run into issues nowadays…
I have plenty of friends who mysteriously run into trouble using it when they owe me money for a night out!
But I digress…
If you’re getting an alert that “there was an issue with your payment”, “transaction could not be completed”, or something else and you’re wondering why my Venmo isn’t working, we’ve got some causes and solutions for you!
If your Venmo transaction was declined– here are 10 reasons why and solutions to get you back sending money.
10 Reasons Why Your Venmo Transaction Was Declined
1. Your account is not verified
Venmo requires all users to verify their accounts to protect their privacy and security. If you have not verified your account yet, or if the verification is out of date, then this could be why your transaction was declined.
To avoid this, make sure you verify your account and keep it up to date.
Solution
The email address associated with your Venmo account will need to be verified for you to use the app. If this is not done, then a transaction made using that email address could be declined.
To avoid this, go into “Settings,” then “Profile” and fill in your verified email address.
2. Your account is limited
Venmo sometimes limits the amount of money that can be transferred per day or week from a user’s account. This is usually done to prevent fraudulent activity.
If you have recently reached your limit, then your transaction may have been declined.
Solution
If you have recently reached your limit on transfers, then your transaction may have been declined. To find out how much money you are allowed to transfer per day or week, go into “Settings,” then “Limits.”
There, you will be able to see the amount of money that is currently available for transfer.
3. Your account is too new
If you have just created your Venmo account, it could be why your transaction was declined. To avoid this, wait until your account has been active for at least three days before trying to make a transaction.
Solution
Some merchants may require an account to be older than three days old to process transactions. If you have just made your Venmo account, then this could be why your transaction was declined.
To avoid this, wait until your account has been active for at least three days before trying to make a transaction.
4. Your bank information did not match
If the merchant did not accept the payment from your account, or if you have recently changed the bank information associated with your Venmo account, then this could be why your transaction was declined.
To avoid this, double-check that the correct bank information is saved in “Settings,” under “Bank Info.”
Solution
Sometimes, merchants require payment to come from the same place it was sent from. This ensures that the transaction is legitimate. If your bank information does not match, then your transaction may be declined.
To avoid this, double-check that the correct bank account is saved in “Settings,” under “Bank Info.”
5. The email used to send or request money was invalid
If you are trying to send money to someone who has recently changed their email address, or you are trying to request money from someone who has recently changed their email address, then this could be why your transaction was declined.
To avoid this, make sure that the current email address is saved in the app.
Solution
Merchants may require an email used to send or request money to match exactly with the email saved in the app. If it does not, then your transaction could be declined.
To avoid this, make sure that the current email address is saved in the app under “Settings,” under “Email Addresses.”
Insufficient funds
If you do not have enough money in your account to complete the transaction, then this could be why your Venmo transaction was declined.
To avoid this, make sure that you have enough money saved in your account before trying to make a payment.
Solution
When trying to make a payment, Venmo will check the funds available in the active account, as well as any connected bank accounts. If your balance is below the available funds, then your payment may be declined.
To avoid this, make sure that you have enough money saved in your account before trying to make a transaction.
Frozen account
If your account has been frozen by Venmo, then this could be why your transaction was declined.
To unfreeze your account, go into “Settings,” then “Profile” and follow the instructions under “Account Freeze.”
Solution
If you have violated Venmo’s User Agreement, then your account may be frozen by the company. When an account is frozen, no money can be transferred in or out of the account.
To unfreeze your account, go into “Settings,” then “Profile” and follow the instructions under “Account Freeze.”
Suspicious activity
If your transaction was declined because of suspicious activity, then this could be why your payment was not processed.
To avoid this, be cautious about who you are sending money to or requesting money from.
Solution
When making a payment or request, Venmo may screen all information for security purposes, including the receiver’s name and email address. If any of this information appears to be fraudulent, then the payment could be declined.
To avoid this, be cautious about who you are sending money to or requesting money from.
The merchant is not accepting Venmo
If the merchant you are trying to pay does not accept Venmo, then this could be why your transaction was declined. To find merchants that accept Venmo, go to “Settings” and click on “Merchants.”
Solution
Not all merchants accept payments through Venmo. If the merchant you are trying to pay does not accept Venmo, then your payment may be declined.
To find merchants that accept payments through Venmo, go to “Settings” and click on “Merchants.”
The receiver has not yet registered for Venmo
If the receiver you are trying to pay does not have a Venmo account, then your payment will be declined. To avoid this, make sure that both parties are enrolled in Venmo before making a payment.
Solution
To transfer money to someone who is not enrolled in Venmo, they must first create a Venmo account. If the receiver you are trying to pay does not have an account, then your payment will be declined.
To avoid this, make sure that both parties are enrolled in Venmo before making a payment.
How To Use Venmo
In Summary
Venmo is an app that allows users to instantly send or receive money from their bank account or debit card. The app is free for iOS, Android, Windows Phone, Blackberry, and web users.
It also has an easy-to-use interface that makes the experience enjoyable. Some may not be aware of this but Venmo actually has a social feed where you can see what your friends are up to on the app!
Venmo is a popular app used for transferring money between friends and family. However, sometimes transactions are declined for unknown reasons.
The above are some of the possible reasons your Venmo transaction was declined.
If none of these reasons apply to your declined payment, then the most likely cause is that Venmo’s security protocols are in place.
To avoid declines in the future, make sure both parties are enrolled in Venmo and make transactions only with people you know and trust.
Many people run into these issues when transferring money from Venmo to Cash App– read our guide.
My name’s Tony and I own several New Jersey businesses, specifically in North Bergen. Small stuff. A few local markets, a bowling alley, things like that. I started this blog to help you learn how to manage cash- like I have dealing with primarily cash businesses.
