Venmo has proved to be the right pick for mobile money transfers, mainly because several retailers now accept Venmo as a viable payment method. However, it is common for customers to experience payment decline, so if you are wondering why Venmo is declining my payment, this guide will let you know all about it!
- Issues with bank, security check, poor internet connection, unresponsive app, and maintenance work are common reasons why Venmo payment is declining.
- Venmo customer support team may help you refund the payment if it was declined but the amount has been deducted from your balance.
- You can not opt for a refund if you have mistakenly transferred the funds to a wrong recipient.
…and Much More!
Why Is Venmo Declining My Payment But I Have Money In Account?
If you have already visited their official website, you will see that Venmo mentions only two reasons why Venmo payments will be declined even when you have money in your account.
- A linked bank account or a debit card is causing an issue.
- There is an automated security flag that the authorities have to check before allowing the payment transfer.
That said, there may be several unrelated factors that can result in unsuccessful transactions on Venmo. You can find out why your Venmo payment did not go through, and luckily, most of these glitches are easy to fix. Here are a few of them that you should consider.
It would help to have good internet connectivity to send money through Venmo. Network problems will interfere with payment processing. Restart the app or internet device and try again.
Problems with Card Issuer or the Bank
Your linked bank has the final say when finalizing a transaction. If it has put your account activity on hold due to suspicious activity or any other event, your Venmo transactions will be left pending. In this case, you must contact the bank immediately to resolve the issue.
The linked bank account must have sufficient funds to process a payment. Venmo checks this before confirming a transaction. The price will be declined if you do not have enough funds to cover the cost and the transfer amount.
Venmo allows verified accounts to send up to $60,000 per week. Unverified reports can only cost $299.99. If your transaction is within Venmo payment limits, it is doubtful it will go through.
Unverified Venmo Account
Verification is the final step of setting up a Venmo account. Venmo sends a message to you to verify the account after you have created one. If you do not, the report cannot make any transactions.
The same will happen if you have entered improper bank account information. Outdated or wrong bank account numbers and routing numbers are the most common reasons Venmo payments fail.
Frozen Venmo Account
You must enter the correct password and username to log in to your Venmo account. Multiple false attempts mean your report will be temporarily frozen.
You can try again or contact Venmo customer support service immediately after some time. In any case, the transactions will be put on hold until the matter is resolved.
Suspicious Account Activity
Payments from a new device or sending many transactions quickly often get flagged as suspicious activity. In this case, Venmo will put the transfer on hold.
This may also happen when your account is left unused for an extended period and suddenly gets active with several payments.
You Are Interacting With High-Risk Businesses
Certain businesses are labelled high-risk” because they involve a high chargeback ratio or multiple card-not-present transactions.
Venmo considers such companies more prone to fraud and does not allow transactions. Transfers related to high-risk categories like CBD products, alcohol sales, gambling, online dating services, etc., may generally be pending.
Also, keep in mind that Venmo does not allow international payments. Therefore, it will be declined if you try to make one.
How to Get a Refund When Venmo Payments Do Not Go Through
If the payment from your Venmo app is unsuccessful, it might be possible that any money will be deducted from the balance. Consequently, you will not need a refund.
- However, the amount is sometimes deducted, although it has yet to be debited to the recipient.
If you have experienced this, the best action is to report it to the Venmo customer support team. You can call the authorities through their toll-free number or reach out directly, as per your comfort.
Some customers consider a refund when they have sent it to the wrong account and the payment has been completed. Where it is possible to cancel a pending transaction, Venmo will only refund your money if you have made a correct payment. Again, the official support team may guide you better in this regard.
How To Fix “Venmo Issue With Payment, Try Again Later” Error
The problem of Venmo payment being declined typically arise due to bank issues, card issues, or if there is a an automated security flag. Although it sounds like there is not much that you can do in either of the cases, experts have suggested some troubleshooting steps that may prove to be useful.
Before you try any of these hacks, make sure that your Venmo account is up to date, you have enough funds, and that your account has not been put on hold due to any issues. All good? Now, here’s what you need to do.
- Improve your internet connection so the transaction does not experience any issues with the network.
- Wait until you can use your device for the transfer instead of opting for a public computer. In this manner, you can guarantee that the internet is not the culprit here.
- Run your device through an anti-virus scanning software.
- Disable VPN services, as these can hinder money transfers. The same goes for any location services that you have enabled.
- Recheck the information you are providing for the recipient and the date and time on your phone.
- Contact the bank to confirm that there is no app maintenance work.
- Wait for the network issues to resolve automatically.
- You can also change the debit card or your bank account if the problem does not settle.
- Also, confirm that you have sufficient funds in your account.
Attention! There are different payment methods available that you can try out in case your Venmo payment is not going through.
The Bottom Line
Venmo is an impeccable app that hosts several perks for its users. It allows you to borrow money, add and interact with friends on Venmo, cash a check and even make a Bachelorette account for free treats!
If you are facing a Venmo payment declining issue, rest assured that these are easy to fix as long as you know the most common reason for it. Then, you can resort to a suitable troubleshooting method. Venmo customer support team would be of great help in this regard.
Frequently Asked Questions
Why won’t Venmo let me send money from my balance?
Network issues, frozen Venmo accounts, problems with linked bank accounts, or exceeding Venmo limits are some reasons why your payment is being declined.
Why does Venmo keep on declining my payment?
There are many reasons why Venmo may decline your payment. The most common reasons are blocked bank accounts, debit cards, insufficient funds, network issues, etc.
I have tried every hack, but my Venmo payments must go through. Why?
If no method works, calling the Venmo customer support team and seeking their help is best.
How many times will Venmo retry payments?
Venmo will allow you to repeatedly retry payments before flagging the account for suspicious activity. However, it depends on why the price is declined.
Cassidy Horton is freelance finance base research writer and published hundred of articles on money, banking, loan and more. Her work is published authority finance site on Forbes, Money Under30, NerdWallet and many other finance brands. Further she is considered financial expert by MSN, LegalZoom & Consolidated Credit.