Venmo is one of the most popular Fintech apps providing the features of sending money to other people, as well, as receiving money from other people, in an interval of 1 to 2 mins.
With Venmo, you can make your daily transactions, get money from your credit card(s), and as well, send money to your other bank accounts.
Venmo ensures making direct transfers from your bank accounts, as long as it is linked to your Venmo account.
However, Venmo is best known for its peer-to-peer transfers, (Instant transfers) that enable its users to send money to other people, in the space of a few minutes, for the money to reach the intended receiver.
Unlike the traditional method of transferring money, which will take up to 2 to 3 working days, before the money sent can reach its destination.
The level of how fast instant transfer makes it the most preferred method of payment by people, in terms of people no longer needing to wait for 2 to 3 days before the money can reach its destination.
However, instant transfer on Venmo comes with a high level of advantage. At some times, you might experience your Venmo instant transfer not working perfectly.
Several reasons could cause this, such as technical glitches, server downtime, security protocol implementation, or bank cards not being supported. These glitches can be frustrating, and therefore, understanding these issues can save you from a great catastrophe that might occur in the future time.
Let’s say you want to transfer some funds from your Venmo to someone’s account and you are finding some degree of difficulty carrying out this transaction, Don’t Panic.
In today’s article, I will be showing several problems that are feasible to impede your Venmo instant transfer from working properly, and also suggesting possible solutions to these problems.
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Venmo Instant Transfer Not Working [How to Fix]
Venmo instant transfer will refuse to work if certain things are not in the appropriate state.
Here are some of the rationales why your Venmo instant transfer will not work:
- Venmo service is down
- Security reasons
- Bank debit card doesn’t support Instant bank transfer
- Invalid information details
- Bank doesn’t support Instant trends
- Violation of Venmo instant transfer terms and conditions
- Instant transfer amounts exceed the transfer limit.
Any of these reasons mentioned above are likely to result in your Venmo instant transfer not working.
Therefore, fixing these issues can be done as follows:
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Ensure Venmo Service Is Working Fine.
This is one of the most technical constraints that are likely to prevent Venmo instant transfer from working.
Sometimes, you might experience a total downtime service from Venmo, probably, when you are about to make an instant transfer to someone.
If you discover that Venmo services are down, there is nothing you can do, all you have to do is to wait till the service is restored by the Venmo technical team.
It’s so important to make thorough efforts in checking if the poor service isn’t caused by your device, by checking your internet connection or your WiFi connection, if it will require using another ISP, fine.
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Security Reasons
The fact that Venmo initiates transactions in seconds, doesn’t mean it does not take time to ensure its internal securities are right.
Venmo ensures that before any payment is initiated, the name on your bank card linked to your Venmo must be the same as your Venmo account.
If you are having some kind of mismatch in the name, Venmo won’t initiate the transfer.
Here’s what to do:
Ensure the name arrangements on your card linked to Venmo are quite the same, as the name arrangement on your Venmo account.
For example, if your bank card holds a name as John Doe, and your Venmo account holds a name as Doe John, there is a high tendency that Venmo won’t initiate your instant transfer.
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Ensure Your Bank Card Support Support Instant Transfer
There is no doubt that you might experience your debit card not being supported by Venmo. Most bank cards that are not issued by US banks are likely to be rejected by Venmo.
Therefore, Venmo provides an informational display that helps you know if your bank’s card is supported by Venmo or not.
Once you have successfully added your card to Venmo, you can begin making instant transfers from the list of cards displayed on your card payment option.
If you find out that your card is displayed in a kind of gray-ish color, it simply means that your card is not supported by Venmo.
Here is what to do:
If you are experiencing your bank card not being supported by Venmo, you can try out with other banks’ debit cards.
Most cards that are not issued by US banks are most likely to be rejected by Venmo.
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Check If You Haven’t Violated Any Terms And Conditions In Transferring Money.
Venmo offers strict terms and conditions that need to be followed by its users, to avoid your transfers being declined.
If by any means you are suspected of violation of instant transfer terms, certain implications might be attached to it.
Venmo prioritizes preventing fraud activities, if any Venmo account is suspicious of fraud-related activities, some actions will be taken toward that account.
Oftentimes, the account actions taken depend on the magnitude of the case suspected.
Here, some actions taken toward suspected violation of terms by an account are:
- Suspension of account.
- Declination or cancellation of a transaction
- Legal action might be taken
- Payment may be reversed.
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Check Your Instant Transfer Limit
All Fintech apps ensure a fixed limit of transactions you can make, some are daily, while others might be weekly.
However, if you try transferring an amount higher than the stated limit, it might end up unsuccessful.
Venmo on the other hand offers a weekly limit on the amount of money you can transfer. Once the amount exceeds the Venmo limit, your transaction will be declined.
If you have an unverified Venmo account, you can make transactions of up to $2,999.99 weekly, while, if you have a verified Venmo account you can make transactions of up to $4, 999.99 weekly.
Whenever your weekly transaction has exceeded the stated limit, you are to wait till another week before making any further instant transfer.
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Contact Customer Support
If you still have any persisting issues regarding the declination of your instant transfer, you can contact the Venmo customer support center.
They will be in a better position to provide timely assistance to your issue.
Contact Venmo customer support can be done by contacting them via their telephone number at 855-812-4430 or by visiting the Venmo website Venmo Support.
Venmo Not Working on iPhone – EASY FIX
If you are experiencing an issue of Venmo not working on your iPhone, or rather receiving error messages, you can try the below troubleshooting techniques to resolve the issue.
- Ensure you are using the latest version of your device’s OS
- If you suddenly begin experiencing an issue on Venmo, log out and log in.
- Check your WiFi or internet connectivity, and ensure that there is a reasonable network speed available.
If you are using a VPN, try turning it off and On.
- Delete the Venmo app and install it back.
- Ensure you haven’t exceeded your transaction limit.
These troubleshooting techniques are more likely going to fix this issue.
If you’re receiving an error message in the app that doesn’t include specific instructions, try these troubleshooting steps I have listed above.
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Conclusion
Though Venmo provides quite an intuitive service, by allowing you to send money and as well receive money, this does not mean that you won’t experience downtime using Venmo.
Venmo downtime is times when you experience some technical issues or user issues that might prevent you from making successful transactions.
Understanding these issues will help you make appropriate troubleshooting techniques in solving these problems.