Venmo, the rant and review.

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I'm not sure if this was the forums I saw a thread regarding Venmo, but I'm pretty sure it is. Anyways a few (or couple depending on how you use few) weeks ago I sold a few things to a buddy of mines, and he asked if we could do it through Venmo since he wanted to try it out. I thought, no big deal the transaction wasn't large so I made an account through an invite he sent.
It was pretty cool, simple to use, etc. It's basically like a Twitter account you can send money through via the context of the message sent such as "$xxx.xx for product/lunch/etc".
So he was able to send the money with relative ease. Now here's the difficult part, instead of allowing me to withdraw my money after I set up my bank account with them the canceled my withdraw after two days in to the "process", then asked me to provide some sort of identification via email. The ID request wasn't a problem, and I sent them the necessary info. Afterwards, I requested for a reason of suspension and they directed away from the question and then told me they would need the other person's identification. Again, no problem I can understand why they want to make sure. However, they still refused to answer my question in regards to why our accounts drew red flags by simply ignoring my question.
I sent my buddy an e-mail and yes he did confirm that he got the request for verification e-mail. He forwarded me the email he sent and the email he received. Everything looks to be in order and both of us should have satisfied everything they were asking for. So instead of allowing me to withdraw my money, the entire balance way returned to my buddy's credit card without any reason other than their personal suspicion. This process took close to two weeks for them to just return my buddy's money, even though we've given them info they wanted to confirm legitimacy.

In short, we did a transaction over Venmo and instead of allowing me to withdraw the money that was sent to me, they charge back my account and return the funds to my friend. Instead of telling me why our the transaction was deemed suspicious day one and just returning the money over a course of a few days it took them two+ weeks. In addition, they still have not validated what drew suspicion on the transaction.

I spent a few days considering what may have drawn the suspicion to the transaction, and I suppose the sender and the recipient were from different states. Maybe, we were too new to the system to make a transaction over $100. Who knows, they obviously don't either given their reply.

In the end the service is complete crap, and I have to give my buddy a call and just do the transaction all over again through Paypal and pay the fee since he's left California already.


Realistically, I would only use this mediocre service with questionable legal practices to send maybe $5-$10...an amount that you don't have to make a big deal about. Aside from that I really don't know if I can call this thing a scam, as it seems to work with other people. However, this is much worst than Paypal if you're dealing with a little more than a few dollars. They base their company on "trust", and yet they don't even "trust" the transaction made through their services.
It's really a shame, but fortunately there are alternatives to this like AmazonPayment for those who want to make payments via text.

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Would gift card that are technically debit cards be covered. I notice Visa gift card bought in stores are really debit c... (more)

ProfessorEd (Jul. 07, 2012 @ 2:58p) |

I have tried adding a prepaid vanilla visa as debit and no go. Someone told me no go for AMEX prepaid as debit either.... (more)

dl73 (Jul. 07, 2012 @ 3:09p) |

venmo doest accept prepaid (visa/AMEX) gift cards any more. Loophole closed

recklessmax (Jul. 08, 2012 @ 2:58p) |

Download their app and you can signup, no invite needed.
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Amazon Payments has been excellent for me thus far. I just hope that they don't start adding a bunch of restrictions.

If they blinked at $xxx.xx then this is useless for churn.

I think they try to market it as something you would use to split a restaurant bill, etc, stuff in the $xx.xx range. I remember reading that they were hoping to get restaurants to offer it up as a payment method and making money through that eventually, so it doesn't look like they're trying to be a Paypal competitor with large sums of money.

xxx.xx was just a filler for any amount of money. But yeah, I just don't see how they're going to do that. Especially with the terms and conditions that allow them to refund a customer (anyone whose paid you) for any reason they like. So essentially, a person can pay for a product and they can deem the payee unqualified to make the purchase and return the payment that's made from your balance on Venmo.
Overall, much much worst than Paypal and I think it's as simple as I can say it.


Scale of 1-10, Paypal is like a 4 or 5. Venmo is at best 2 or 3.

Could not agree more--absolutely hate Venmo. I tried to send a payment of 750. I got an e-mail asking me for my driver's license and the credit card I used to make the transaction. I reluctantly e-mail them copies. They unfreeze my account. I try to withdraw the cash to my back account. It stays pending for days, then I got an e-mail saying the transaction was cancelled and refunded to my credit card. What??? Why??? What a bunch of bastards. If you can't send more than $20, they should say that upfront. What a bunch of wasted effort. What a bunch of false advertising by them.

Give me Amazon payments any day!!

I regularly send ~$100-$150 to split dinner bills and never had a problem.

I got a little silly this month and just got a verification request. Looks like another gravy train is stowing it's ladles.

OK, so the unsaid limit is somewhere between $150 and $750. I don't appreciate guessing when their T&C say otherwise.

I've received two payments in the high three figures (greater than $750). It might also help that I receive plenty of other legitimate payments (restaurant bills, 4-way split cell phone bill every month, etc.), though most payments I send/receive are less than $100.

Montacute said:   OK, so the unsaid limit is somewhere between $150 and $750. I don't appreciate guessing when their T&C say otherwise.Read your last post. If you sent a payment then tried to withdraw the money to your bank account, you didn't send any payment. It has nothing to do with any secret limit you have to guess, you simply got caught giving yourself a cash advance.

Glitch99 said:   Montacute said:   OK, so the unsaid limit is somewhere between $150 and $750. I don't appreciate guessing when their T&C say otherwise.Read your last post. If you sent a payment then tried to withdraw the money to your bank account, you didn't send any payment. It has nothing to do with any secret limit you have to guess, you simply got caught giving yourself a cash advance.

Sorry about that. I was typing in a hurry, changed a part of my post and didn't proofread to make sure I changed all of it. I did not give myself a cash advance. I sent payment, RECIPIENT tried to withdraw to HIS bank account and I got the cancellation e-mail and $ was refunded to my CC. My bad in not explaining properly. Still Venmo's bad in cancelling. Two separate accounts and people were involved.

Been using Venmo for just over half a year now and have NEVER had a problem. My roommate regularly pays me rent of about $900/mo and have had no problems. I've also been able to split some high cost items like snowboard trips without any issue. I've also been able to charge other friends of mine via text message without requiring them to register for accounts, which IMO is a pretty nice feature. I guess if your transaction was completely legit, then this might be a YMMV site?

llhelix said:   Been using Venmo for just over half a year now and have NEVER had a problem. My roommate regularly pays me rent of about $900/mo and have had no problems. I've also been able to split some high cost items like snowboard trips without any issue. I've also been able to charge other friends of mine via text message without requiring them to register for accounts, which IMO is a pretty nice feature. I guess if your transaction was completely legit, then this might be a YMMV site?So how do your other friends pay, if they do not have an account? Do they actually enter their credit card number in a text message reply?

Glitch99 said:   llhelix said:   Been using Venmo for just over half a year now and have NEVER had a problem. My roommate regularly pays me rent of about $900/mo and have had no problems. I've also been able to split some high cost items like snowboard trips without any issue. I've also been able to charge other friends of mine via text message without requiring them to register for accounts, which IMO is a pretty nice feature. I guess if your transaction was completely legit, then this might be a YMMV site?So how do your other friends pay, if they do not have an account? Do they actually enter their credit card number in a text message reply?

Venmo texts the number that you charge and asks if that person wants to pay you. If they reply yes, Venmo calls them via automated system and asks for CC that they want to use for payment. Have used this feature regularly since I signed up for Venmo and they haven't requested any kind of additional verification from either party.

edit: duplicate post

llhelix said:   Glitch99 said:   llhelix said:   Been using Venmo for just over half a year now and have NEVER had a problem. My roommate regularly pays me rent of about $900/mo and have had no problems. I've also been able to split some high cost items like snowboard trips without any issue. I've also been able to charge other friends of mine via text message without requiring them to register for accounts, which IMO is a pretty nice feature. I guess if your transaction was completely legit, then this might be a YMMV site?So how do your other friends pay, if they do not have an account? Do they actually enter their credit card number in a text message reply?

Venmo texts the number that you charge and asks if that person wants to pay you. If they reply yes, Venmo calls them via automated system and asks for CC that they want to use for payment. Have used this feature regularly since I signed up for Venmo and they haven't requested any kind of additional verification from either party.
That's cool. I didn't know that was a feature.

llhelix said:   Glitch99 said:   llhelix said:   Been using Venmo for just over half a year now and have NEVER had a problem. My roommate regularly pays me rent of about $900/mo and have had no problems. I've also been able to split some high cost items like snowboard trips without any issue. I've also been able to charge other friends of mine via text message without requiring them to register for accounts, which IMO is a pretty nice feature. I guess if your transaction was completely legit, then this might be a YMMV site?So how do your other friends pay, if they do not have an account? Do they actually enter their credit card number in a text message reply?

Venmo texts the number that you charge and asks if that person wants to pay you. If they reply yes, Venmo calls them via automated system and asks for CC that they want to use for payment. Have used this feature regularly since I signed up for Venmo and they haven't requested any kind of additional verification from either party.


How do you enable this feature, or is it no longer active. When I request money from an unregistered user (both on the web and directly by text) the unregistered user gets a money request with a link to the website. There is no option for any form of reply or call, and replying "yes" to the text returns a command unrecognized response text.

careful not to change credit cards too frequently. i went to swap out my card and they said the most times i can do this is 3 and now i am unable to add more cards. sent them an email to reconsider.

Venmo is capping payments where the funds come from credit cards at $1200/month.

koctail said:   careful not to change credit cards too frequently. i went to swap out my card and they said the most times i can do this is 3 and now i am unable to add more cards. sent them an email to reconsider.
Same here. Nice of them to let us know in advance.


Anyone have an invite, please PM me. Thanks.

tajar96 said:   Anyone have an invite, please PM me. Thanks.
Invites are not needed if you have a smartphone. Just sign up using their phone app.

MidnightLight said:   Invites are not needed if you have a smartphone. Just sign up using their phone app.

I don't have a smartphone. I DO need an invite though.

Are there any issues with Chase or FIA funding being tagged as a cash advance ? Also, I see above that the limit is $1200 per month, is there a max per usage - say 400 or 500.

tajar96 said:   Are there any issues with Chase or FIA funding being tagged as a cash advance ? Also, I see above that the limit is $1200 per month, is there a max per usage - say 400 or 500.
$999 per transaction.

Anyone has venmo invites left?

karabashmi said:   Anyone has venmo invites left?
You don't need an invite to sign up anymore, but I sent you one anyway.

GamingG said:   karabashmi said:   Anyone has venmo invites left?
You don't need an invite to sign up anymore, but I sent you one anyway.


I was put on a wait list... anyone else?

fitallvb said:   GamingG said:   karabashmi said:   Anyone has venmo invites left?
You don't need an invite to sign up anymore, but I sent you one anyway.


I was put on a wait list... anyone else?

That's strange. PM me an e-mail address you'd like to use and I'll send you a personalized one.

svr411 said:   If they blinked at $xxx.xx then this is useless for churn.Viking: The peasants dare build palisades.

I would love an invite to Venmo. If you have one please PM me. Thanks.

I too would like an invite please

If any of you need invites, PM me your emails.

My big gripe with Venmo is you can't change credit cards. Have never seen that before.

What? Yes you can.

Top right of the screen "Accounts"

Middle of screen, the 5 white oval boxes, "Banks Cards & Transactions"

Top tap the box below "Credit Cards 1 card on file -$XXXX credit limit manage"

Hey guys, if you have an Android or an iOS device, you can get a Venmo account without any invite. I signup up using its Android app, no invitation code was asked.

Oh nice Jazzboy, didn't even know that. I'll pass that along to those who PM me. I can still email invites if needed though.

BradisBrad said:   What? Yes you can.

Top right of the screen "Accounts"

Middle of screen, the 5 white oval boxes, "Banks Cards & Transactions"

Top tap the box below "Credit Cards 1 card on file -$XXXX credit limit manage"

Once you get to 3 you can't change it. Try it.

Skipping 40 Messages...
venmo doest accept prepaid (visa/AMEX) gift cards any more. Loophole closed



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