Why is Venmo declining my payment (5 Fixes)

Many people bump into problems with payments that don’t go through. You may have different reasons for payment failures than you may think. It could be your outdated smartphone, card issuer, or the app itself is causing an issue. You may be surprised where an issue is lying and how simple it is to fix it. 

In this article, you’ll not only fix why Venmo is declining your payment but also unravel different facets of using the app the right way. 

Why is payment failed and how do you fix it?

The app has different modes of funding options available for users to send/receive money and make a payment. If you’re using the app correctly and have the correct card details, you will likely face any problems. The most common problem you may face is your inaccurate payment details. Either your bank or a debit card’s details are not appropriate or supported by the app. 

However, it is not always the case. You may have issues lurking outside the app or your financial institution. We may find it later.

Before we dig deep and try to fix your problem, let’s know the app’s requirements to use it correctly. 

Venmo Requirements. 

  • You must be at least 18 years old and a citizen of the United States.
  • You need a bank account and a debit/credit card of Visa and Mastercard networks. 
  • You must have a U.S phone number or email address registered with your bank account. 
  • You require an SSN or ITIN number to verify your identity. 

How does Venmo work? 

Most users don’t know how to send their first dollar via Venmo. As we know, you need a bank account or debit card to use the app. If you do not integrate any funding source, you will be unable to send and receive funds. We don’t want to start from scratch because you already know how to add payment information and transfer money. Still, we want you to double-check whether you’ve added any funding sources and successfully verified them. 

After ensuring you’re doing everything perfectly, and still, your payment didn’t go through, we would try to understand this from different angles and resolve this issue.

Why is Venmo declining your payment? (Reasons and Fixes)

#Insufficient balance

A lack of balance in your account can be why your payment is being declined. If you’re using a balance instead of a bank account, you need sufficient funds to cover the entire payment. The balance in your Venmo account, as we know, can be used to buy stuff at your favorite in-stores or anywhere online where the app is accepted. 

Until you set up your bank account or debit card as a default funding source, the money would pull from your balance whenever you pay someone. If you don’t want to fail the transaction, the only way is to reload your account balance and then try again.

Reload your Venmo account.

  • Launch the app.
  • Tap the Menu icon in the top right corner.
  • Under your profile picture, click on “Manage Balance”.
  • In the bottom bar, tap the “Transfer to Venmo” option.
  • Select your payment method and choose the transfer mode (Instant or 1-3 days). 
  • Hit Add Money.

Bank Servers are down.

The company works with hundreds of financial institutions across the United States. It’s most likely that the bank you’ve linked to the app has a problem on its end. Most often, bank servers go down due to maintenance or overload servers. Serves might take some time to settle down before you can do any activity with your bank. 

The worst part is that we’ve no control over such servers as our banks do to some extent. If the servers surpass their bandwidth limit, banks face outage problems where users experience issues like money transfer failure or not responding problems. 

The solution here is to keep patience until servers come back to normal. You can also go to Twitter and check your bank’s profile to see if it has notified users about the servers being down. 

You might like: Venmo Lost connection with Bank

Insufficient bank balance.

We don’t heed this problem because we are all concerned about our balance. However, you may have inadequate funds in your bank account, that’s why your payment is not going through. So, if you’re unsure how much fund you have in your bank or credit card, confirm it before initiating a payment through the app. 

Incorrect card details.

The app may cancel a transfer if your card details, such as name and surname, are different than what you’ve in your Venmo . So, in this case, you’ve to carefully re-add your card with the accurate details. If you link your card through the routing or account number, you’ve to tell all the exact details written on your bank’s passbook.

Add payment source –

  • Open the app.
  • Click on the Hamburger icon.
  • Navigate to Settings.
  • Tap Payment Methods.
  • Delete your current payment methods, and go back.
  • Scroll down to the bottom and tap “Add bank or card”.
  • Now, link your bank or card by tapping on any option.
  • Next, Verify it through the Instant or Manual method.

Your account is frozen.

Remember PayPal and all the horror stories linked to it? Venmo is its subsidiary. If the company finds anything  against its terms, your account may get frozen temporarily or permanently, depending on how severe the case is.

Freezing could happen due to many factors like if someone files a dispute against you or if you’ve too many failed transfers. 

Users with a frozen account cannot access their funds or transfer or receive cash unless they unfreeze their account. So we always recommend that you never hold funds in your balance. 

Don’t lose your pecker up; there is hope. Once you send them what they require, your account will get unfrozen, and you can use the app as usual – This may take a few weeks. 

Wrapping it Up

We hope you’ve liked our article about why Venmo is declining my payment. We’ve piled up all the reasons and solutions that would help you hammer out your problems. 

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