Is your Venmo payment declined? We’ve your back. When you’re trying to make a payment or deposit funds into your Venmo account, it’s possible that your payment is stuck or doesn’t go through.
Many people these days are experiencing payment issues with such platforms, making them wonder what may go wrong.
To make things simpler, we researched and discovered a few reasons and solutions you can follow to fix your payment decline issue on Venmo.
We suggest you stick to the article till the end so you can find the root cause of your problem. So any further ado, let’s jump right into the article.
What is Venmo, and How does it work?
Before heading to the key part, we’ve to understand what Venmo is and how you can use it correctly. As we’ve already said, it’s not a bank, as it’s a Peer-to-peer social money transfer app coupled with banking features.
Apart from sending and receiving cash from your loved ones, you can use it to get your paychecks in advance of up to two days.
It also provides a credit card facility with the help of Synchrony Bank, a U.S.-based consumer service provider company founded in 1932.
The platform allows users to buy, hold and sell crypto for as little as $1. You don’t need to switch between apps or multiple accounts to use Venmo services, which is another perk.
For worldwide travelers and employees, it offers a Mastercard debit card to use at ATMs or wherever a Mastercard is accepted.
How it works?
To get started, all you need is a phone number and email address. After signing up, you’ve to link your payment method, which can be your bank account, debit card, credit card, and prepaid card. Once added, you can add funds to your Venmo account and use them with a debit card or send them to Venmo contacts.
You can set up Direct Deposit and enjoy early paychecks every month if you’re an employer who receives ACH payments (Automated Clearing House network).
Eligible members can explore its credit card that offers 3% cash back on eligible purchases and turn cash back into their favorite crypto every month.
Since it’s a Paypal subsidiary company, it is an amazing opportunity for merchants to attract sales by integrating it into their website or app.
What Payment Methods does Venmo support?
Venmo provides all kinds of payment methods to add and withdraw funds. It supports hundreds of Bank accounts, debit cards, credit cards, and prepaid cards issued by Visa, Mastercard, American Express, and Discover.
Plaid supports it, so you can also find your bank in the list of hundreds of other banks that Plaid has. Or you can manually add your bank to bypass verification.
It also lets you link your prepaid card to reload and pull out your Venmo funds. However, Credit and Prepaid cards can be subject to transaction fees, whereas debit cards don’t.
Anyway, if you’re adding a bank account, you must pass through Plaid for security and flexibility purposes. You can consider adding your bank account manually if Plaid is not connecting to your bank.
We also advise you to use your debit card often instead of a credit or prepaid card when transferring funds to your Venmo contacts to avoid unreasonable fees.
Can Venmo decline a payment?
It’s very much possible that Venmo is declining your payment. It could happen due to so many factors that’ll pile up in this article. Getting a payment declined online is quite common, as we have all experienced such issues and may have solved this problem many times.
Even though everything seems to be fine on your side, your payment may be failed due to some technical or unknown reason. So what’s the real way to solve this issue? Well, we’ll come to this.
Whether you’re making a payment online, sending funds to your friend, or cashing out from an ATM, you may find difficulty with making payments. Let’s know why.
Why Venmo declined my payment? How to Fix?
Venmo may decline your payment for many reasons, such as your card issuer has blocked transactions, your account needs more funds, or your card is expired.
Likewise, many other factors go into it. We’ve rounded up all the possible reasons why your payment got declined:
There are a few ways to fix your Venmo payment from getting declined. However, these tactics will only work when you consider all the factors below.
Card may be expired
Is your payment is getting declined when paying online or withdrawing funds through ATMs? Your card may be expired. You must check your payment card’s expiry date on the front before using it online or anywhere.
If your credit or debit card is expired, you must ask your bank or card issuer to send a replacement card. Upon activation of your new card, you can use it to make payments again.
Typically, most banks notify of a card’s expiration date 60 days before, so always keep tabs on your card expiry date to avoid any transaction failure.
If your Venmo Mastercard debit card has expired, you can request a new one through the “Venmo’s debit card” section. Once you’ve activated your new card, dismantle or smash the old one.
Exhausted credit limit
If you’re using a credit card, it’s likely that you’ve gone over your credit limit. So it’s always a good idea to double-check your credit limit before using a card anywhere. Your credit card limit is the amount you receive from the card issuer based on your income, credit history, and other factors.
According to Experts, you must keep your credit utilization at most 30% to avoid over-limit fees or temporary dips in your score. To use your card again, you’ve to settle all the dues. If you keep your credit out of the limit for so long, a card issuer might block your card.
Have you checked your bank account or Venmo funds? Is it sufficient to cover the payment? These are questions you should ask before making any transaction.
When you find that your Venmo has little or no funds, deposit some funds from your bank account or credit union to avoid any payment decline.
If your debit or credit card is blocked or expired, you can link any other card under your name and initiate a transaction.
A card may be blocked
Your payment could be declined due to your blocked card. Possibly, Venmo has frozen your card due to a policy violation, or you’ve blocked your card by mistake.
This could be one of the main reasons your payments are not going through. Ensure your card is active and not frozen to be able to use it without fail.
If your card is blocked, you can go to Account Settings>Security & Privacy and unlock it after entering your PIN code. Or if your card is frozen, you’ve to reach out to the Venmo support team through chat, form, or phone and ask them to unfreeze your account.
AVS mismatch error.
AVS (Address Verification error) mismatch may occur when the cardholder’s billing address doesn’t match the address provided at checkout. AVS helps buyers and merchants from common suspicious credit card transactions by verifying the ownership of the card.
So if you’re entering the incorrect billing address while checking out, review all the details and make sure they’re similar to your card details to avoid an error.
However, you can often easily go through a transaction process, as some merchants have no AVS enabled on their websites or app.
Incorrect payment information.
This is a common problem we all deal with when shopping online. Your transaction will be declined if you enter incorrect debit or credit card details in the checkout box. So always enter the correct payment information at checkout to avoid any transaction failure.
If anything is incorrect in your card number, expiry date, and CVV, your transaction can’t go through, or it will fail. You can allow Google to save your payment details if you don’t want to fill in your card details manually.
Exceeded sending limit.
For verified users, Venmo has a personal sending rolling limit of up to $60,000 per week. And for users who haven’t completed identity verification yet, the weekly limit is capped at $299 for both personal and merchant transactions.
So if you’ve already used up your weekly limit, you can’t send any funds through Venmo. Besides, the platform offers a $7,000 weekly limit for purchases on QR, apps, or websites.
Venmo to bank account and add funds transaction limits are also different for verified and non-verified members. So you must check your sending and purchase limit before initiating any transaction.
Sending funds outside of the U.S.
You can only use your Venmo debit card or funds inside the U.S. and U.S. territories in dollar currency, as it can’t be used internationally. Besides, sending and receiving money is only available for U.S. members.
You should check if a merchant accepts U.S. currency or not and is located in the United States. However, you can use a Venmo credit card or withdraw cash from out-of-network ATMs at a fee.
Payment is under review.
If you’re submitting any check or deposited funds via a bank account, your payment can be flagged for a review and released typically within 48 hours.
Venmo may ask you to provide extra information to secure the platform when your payment is under review.
If none of the above reasons is responsible, it could be a technical error from your or Venmo’s end. It might be your faulty internet connection or an outdated app.
Your bank could be facing a server problem or in a bad state. In case you bump into any 400 or 403 error, you might be doing something not supported on the app. However, to fix any processing error on Venmo:
- Try to clear the app cache or junk files to fix minor issues.
- Log out and Log in back of your account.
- Make sure you’re using an updated version of the app.
- Disable VPN or check your WiFi or cellular network.
- Try to uninstall and install your app.
Frequently Asked Questions (FAQs)
Why am I getting a 400/403 error on my Venmo app?
These common errors indicate that a user is trying to gain unauthorized access or is forbidden to access a resource.
Can I use a Prepaid card on Venmo?
Yes, you can use a prepaid card on the platform, but it’s not advisable due to unavoidable fees or charges.
Can I pay bills when my sending limit is over?
Your sending limit and the purchase limit are different. You get up to $7,000 for purchases alone.
That’s all. We have the workarounds now for users whose Venmo payment was declined. Review and follow all the tactics shown in the article to resolve your problem. Make sure your debit or credit card information is correct, and your cards are active and loaded.
Also, it’s worth checking that you have the latest version of the app installed on your device to fix minor pesky issues.