Venmo was created as a quick and easy way to send money to your friends, family, and other connections without having to find an ATM or rely on lengthy bank-to-bank transfers. However, sometimes Venmo doesn’t always work as expected. Many users commonly report that their payments are mysteriously declined for reasons unknown to them. The most common message is:
‘There was an issue with your payment. Please try again later.’ What does it mean? There Was An Issue With Your Payment on Venmo means that your payment was declined. Your payment could be declined for various reasons, including insufficient funds, bad data connection, or outdated payment information.
If you’ve recently run into one of these annoying messages, then you’ve come to the right article.
Why Your Venmo Payment Might Be Declined
Today, I’m going to help explain why you’re getting the message and some of the most common reasons why your Venmo payment could be declining. The good news is that these issues can usually be fixed with a bit of simple troubleshooting.
So why was your Venmo payment declined? Here are some reasons why your Venmo payment was declined:
- The bank is declining the transaction outside Venmo
- The transaction triggered a Venmo red flag
- A temporarily frozen account
- Exceeding the sending limits
- Lack of enough funds in the Venmo account.
When your Venmo payment gets declined it is an indication that there is an issue with your account. Most of the time it is something you can sort out and hence we have provided the various possibilities you can invite in such a situation.
Insufficient Funds in Your Venmo Account
It’s common for users to mistake the balance they have in their account. So, when a person tries to send more money than is available in the balance, the payment becomes declined. Here is a post about how much you can send with Venmo.
Sending money through Venmo is free and so a user does not have to worry about calculating charges, just what is in their account.
If this is the case then the user can top up their account or link a bank account with enough funds to facilitate the transaction.
Payment Limits Have Been Exceeded
Venmo has various limits for users in making payments on transactions like;
- Peer to peer payments
- Online purchases from the account
- Venmo card purchases
- Venmo QR code purchases in stores.
Once you create your payment account, you are limited to sending about $299.99 every week and a maximum of the same on making purchases from merchants. So, if you try to transact even $1 over the weekly limit the payment will be declined.
Venmo gives users a choice to increase their limits by simply verifying their identities on the app. The process requires them to provide some basic information such as,
- Legal name
- Date of birth
- Social security number /Tax identification number
Once you complete the verification process your limit rises to about $6999.99 weekly for total transactions and $4999.99 for peer to peer payments. However, it is easy to achieve this figure since they do not have a restriction on how much you can transact in a day. So, be sure to check whether you might have exceeded your limit when experiencing a declined payment.
If a Payment Triggers a Venmo Automated Security Flag
Sometimes a Venmo payment might fail because a Venmo security flag has been triggered. Venmo aims to protect its users and so when a transaction seems suspicious or suspected of fraud, one is likely to have their payment declined.
Note that a security flag does not necessarily mean that you are committing a fraudulent transaction, it is just their system trying to be thorough. In such a case contacting Venmo customer support is the best way forward.
A Temporarily Frozen Account
Your Venmo account can be frozen if some flags are raised concerning activity that might be against their user agreement policies. It is mostly related to the linked bank account whereby bank payments are frozen. It can be for different reasons including having insufficient funds in the account or exceeding the ACH transfers allocated.
Temporarily frozen accounts are usually reinstated after Venmo receives the funds from the bank. Currently, users cannot unfreeze accounts on their own and will need to contact Venmo via the email email@example.com for guidance.
The Bank Declining the Payment on Their End
Sometimes the issue is usually on the linked bank’s side whereby they might not let a transaction go through outside Venmo. As a result the Venmo payment will not go through. In this case, you need to contact the bank and get to the bottom of the issue.
How to Unfreeze a Temporarily Frozen Account
When a user’s Venmo account is frozen, they are sent an Email saying that the transaction they attempted from the bank has failed. From here, a user needs to use a computer or phone to login in via https://www.venmo.com/recover and recover their account. The account remains frozen until the funds are paid.
As mentioned earlier, the bank transaction can fail either because of insufficient funds or exceeding ACH transfer limits. Contacting Venmo in this situation might not be helpful because they don’t have visibility as to why the transaction has failed and thus cannot override it. Contacting the bank can confirm what the problem is and you can proceed from there. Normally the account will be reinstated after payment. There are different ways of getting the account reinstated including;
- Paying the amount using your debit card
- Paying through the bank
Keep in mind that bank payments will sometimes take days to be processed and thus you might have to wait depending on your bank. Venmo will provide an estimate of when the funds will arrive if you choose to fund the amount with a bank account. Any amount that Venmo receives will automatically be deducted from what you owe Venmo thus reducing what you owe.
There Was An Issue With Your Payment — Venmo
Launched in 2009, the popular peer-to-peer money sending platform is now 12-years-old, making it one of the oldest in the game. Its main competitor is Cash App, another application that does the same exact thing.
Venmo works by connecting your account to your bank or a debit/credit card. Once your payment information is connected and verified, you can quickly send money to other Venmo users by using one of the payment methods stored in your account. If you receive money that’s stored in your Venmo balance, you can either transfer this money into your personal account or send it to somebody else.
Recently, Venmo also released their Venmo debit card which allows you to make purchases anywhere that Visa or Mastercard is accepted. You may also use your Venmo debit card to withdraw funds from your Venmo balance at any ATM in the United States. This card was created to compete with Cash App’s “Cash Card.”
For the most part, Venmo transfers and the Venmo debit card work smoothly. However, sometimes problems arise, and the payment is declined. This can leave you in a bind, especially if you don’t have any other forms of payment with you.
Reasons Why There Was An Issue With Your Venmo Payment
Your Venmo card or app payment could be declined for a variety of different reasons. Unfortunately, one of the things that I hate about Venmo is that they never tell you exactly why it’s getting declined.
They kind of just leave it up to you to figure out on your own. Their customer service takes forever to answer the phone, too (and sends you to foreign call centers), so I usually don’t even bother.
Lucky for you, I’ve had plenty of experience dealing with the ins and outs of Venmo’s often-complicated platform. Below, I’ve compiled a conclusive list of all the reasons why your Venmo app or card may be declined. Hopefully, one of them is able to solve your problem!
Your Debit Card Details Need To Be Updated
The most common problem I’ve found is that my linked debit card or credit card is expired. This is why it’s important to keep track of all of the payment methods saved on your account. Once, I had to replace my debit card through my bank. I forgot to update my Venmo account with my card’s new expiration date (even though it had the same number), and I spent hours trying to figure out why my payments wouldn’t go through.
Something told me to double-check my debit card information saved on Venmo, and bingo– problem solved! If you’ve recently received a new card in the mail or your old card has expired, just make sure to update your Venmo account with all of the new information.
You Don’t Have Sufficient Funds
Any service will decline your payment if your linked bank account or debit card doesn’t have enough money to cover the charge. Although there are platforms (like Chime digital bank) that allow you to overdraft up to $100 at a time, Venmo does not. If your Venmo payment is repeatedly declined, make sure to check your bank account and make sure that it’s not negative and that you have enough money.
Your Bank Flagged The Transaction
Sometimes, your bank can be fickle. If you don’t use Venmo very often, or if you’re attempting a particularly large transaction, then your bank could flag it as potential fraud. Unfortunately, there are a lot of scammers who regularly receive payments through Venmo and Cash App, and the bank’s job is to keep you safe.
If you suspect that your bank may have flagged your account, then your best bet is to give your bank a call. Inform them that the transaction you’re trying to make is yours and that you’re not being scammed.
Your Venmo Debit Card Is Damaged
If you have a Venmo debit card that’s causing problems and is getting declined, then it could be due to a damaged card. The magnetic stripe or the gold chip may have become scratched and unreadable by credit card machines. Sometimes holding the cards too close to magnets or in the same pocket as your smartphone is also enough to damage the card.
There Isn’t Enough Money In Your Venmo Balance
If you’re trying to send money in-app or use the Venmo card, double-check your Venmo balance to see how much you have left. If you’re sending money in-app and don’t have enough money in your Venmo balance, you will need to switch the app to send the money using your linked debit card or bank account.
Your Internet/Data Connection Is Bad
If your connection times out or you lose wifi/cellular data during the middle of the transaction, then your transaction will be automatically declined or canceled. In this situation, your best bet is to re-connect and try again.
Venmo’s Servers Are Experiencing Problems
Sometimes, the problem has nothing to do with you at all! With so many users across the country, Venmo’s servers may become overloaded or glitch. If you suspect that the problem is on their end, then you’re better off waiting for an hour or two for the problem to resolve itself, and then try sending the money again.
If your Venmo account is frozen, don’t worry! We’re here to help you unfreeze it.
Venmo is a great tool in our times where carrying money seems to be a thing of the past. It makes minor expenditures easier to manage and will even let you communicate with people you’re sending money to. Even though the social feature is not for everyone, there are options within the app to make your transactions private.