Venmo Inc.

Review: Venmo is a peer to peer financial service app that allows me to send/receive money electronically to friends.

I had a rather significant amount of money transferred to my Venmo account and I wanted to "cash out" and transfer it to my bank account. I received an email confirmation that the money would be transferred but it is not in my bank account and it is not in my Venmo account.

I have reached out to Venmo 5 times over the past 3 weeks and have only received "canned" and "my issue has been moved to a specialist" responses. I rely on this money to pay my rent and Venmo has been utterly unhelpful and unresponsive. They dont have a phone number to call, there is only a in-app text message for support.

I have reached out to them via social media as well with still no result.Desired Settlement: I need my money and I need it immediately.

I wish for them to successfully complete the transfer of funds to my bank account. The original transfer number is: [redacted].

I was suppose to be in my bank account on Dec. [redacted] and its now almost a month later.

Business

Response:

Thank you for your patience while we reviewed this complaint rebuttal. Please see our attached response to the customer complaint for case #[redacted]. Venmo record shows that the review on the transfer initiated by the user was completed and the $2,423.50 in funds were released to his designated bank on 1/**/2016. Based on this information, Venmo considers this issue successfully resolved. Feel free to contact me in the event you have any questions. -- Leanna Disputes Program Manager Disputes | Venmo [redacted]

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me and the matter has been resolved.

Sincerely,

Review: On 12/*/14 and 12/*/14, I received two payments from a friend via Venmo. Upon receiving notification of the respective payments, I followed Venmo's procedures to transfer the payments into my linked bank account. For each transfer, I was informed that the transfers would post to my bank account on 12/*/14.

On 12/*/14, I received an email from [redacted] at Venmo ([redacted]), informing me that my "account has been frozen due to some security flags raised on your account" and requesting that I email Venmo copies of my driver's license and bank statement in order to unfreeze my account. I did so within one hour of receiving their request.

Since then, I have heard nothing further from Venmo and have sent a total of four emails to [redacted] asking for information about when my account would be unfrozen and when the transfers to my bank account would be completed.

To date, I have not received a single response from anyone at Venmo to any of my repeated inquiries and as of today (12/**/14), the transfers continue to show in my Venmo account as pending.

Venmo's unwillingness to even reply to my inquiries, let alone complete the promised transfers after I emailed them the documents they requested, is completely inexcusable.Desired Settlement: I have two desired outcomes:

1. That the transfers from Venmo to my bank account be completed; and

2. That Venmo respond to my repeated emailed requests for information about when my account would be unfrozen

Business

Response:

[redacted]

[redacted] Please be aware that Venmo offices have moved from its previous location of [redacted] to its new location at [redacted]. [redacted]Venmo LLC (“Venmo”) is in receipt of [redacted] (“[redacted]”) complaint received via the Revdex.com dated 12/**/2014 regarding his complaint regarding customer service issues. Please find our response to his concerns below.Venmo is a P2P payments service that allows its users to send or request payments via text or email to other individuals, and is designed for payments between friends and people who trust each other. These actions are only processed by Venmo, based on the initial request made by a Venmo user and if funds are available from the funding method in question for that Venmo account. Venmo prefunds payments initiated, however in the event that the funds are not received from the payees designated financial institution, Venmo will reverse the payment from the recipient to prevent a loss to Venmo. Upon further review of the Revdex.com complaint letter received for [redacted], he claims that Venmo has not been responsive to his inquiries on his account status. Venmo records show that the documents provided have been reviewed; restrictions have been lifted on his Venmo account and subsequently pending transactions have been processed. Venmo made an attempt on 12/**/2014 to contact [redacted] to advise him of such. Venmo thanks [redacted] for his patience in the matter and considered this issue resolved. Regards,Venmo Compliance [redacted]

Review: On Thursday, January [redacted], my fiancé accidentally transacted a $1500 deduction from my Venmo account when meaning to wire me the funds. The transaction came through, but I never approved it, nor did the funds get cashed into my fiance's account and nor did the system allow him to reverse the transaction when he realized it. Because I didn't approve the transaction, and he never "cashed it out," it was assumed that it wouldn't process. A few moments later, he correctly wired me the funds as initially intended. I received a confirmation that the funds had been wired, I "cashed out" the funds (which means they were placed into my Venmo account to then be transferred into my designated checking account) and was notified that the funds would be in my checking account the following morning of the [redacted]. Shortly thereafter, my fiancé and I both received emails stating that more ID was needed (e.g. Photo copies of our ID's, credit cards, etc.) and that our accounts had been frozen. Assuming that the transactions that we had just processed would not go through, we decided it wasn't worth the hassle and he would just write me a check instead. The following morning, on the [redacted], there was a withdrawal of $1500 from my checking account--again, a transaction that I never approved and was never "cashed out" my my fiancé. Surely enough, the money was also not put into either his Venmo account or his checking account. So where did the money go? I proceeded to vigorously attempt to contact Venmo, and lo and behold there is absolutely no phone number listed anywhere to contact anyone at the company, just an email address. I sent multiple emails demanding a phone call, an explanation and a refund of the funds. Only TEN hours later did I receive a response, still without an explanation or a phone all--just notification that the $1500 was in my Venmo account and needed to be cashed out. That was correct, so I did just that and received confirmation that the funds would be placed back into my checking account today (Feb [redacted]). Well, they're not. Once again I am left with no explanation and a depletion of funds that are needed. I have sent a few more emails to the company, but with the anticipation if a 10-hour window, I am certain this will not be resolved today. I have bills to pay and my money is essential. This is an extremely poor way to run a business and can only leave one to assume there is fraudulent activity taking place. I need the situation rectified immediately and should receive compensation for the inconvenience.Desired Settlement: Not only should my funds be placed back in my account immediately, but the company should be forced to compensate me beyond the transaction amount and be forced I change their customer service contact process. A phone number should be mandated. Or they should be shut down for fraud.

Business

Response:

Venmo LLC (“Venmo”) is in receipt of [redacted]’s (“[redacted]”) complaint received via the Revdex.com dated 2/*/2014. [redacted]’s complaint references billing and collection issues. Please find our response to her concerns below as well as background of Venmo. Venmo is a domestic person-to-person payments service that allows individual Venmo users to send or request payment from each other using mobile or website applications. Payments may be funded with a credit or debit card, a bank account or a Venmo balance. Venmo makes funds available instantly to Venmo recipients. Received funds can be withdrawn to a US bank account or sent to other Venmo users. These actions are only processed by Venmo, based on the initial request made by a Venmo user and if funds are available from the funding method in question for that Venmo account. Venmo prefunds payments initiated, however in the event that the funds are not received from the payees designated financial institution, Venmo will attempt to recover the funds from another funding source to prevent a loss to Venmo. As the complaint states, [redacted] confirms that her payment partner erroneously changed her $1500. She further claims that the charge was not approved by her however Venmo records show that [redacted] and her payment partner had previously enabled the “trust” feature on Venmo. This enabling of the trust feature resulted in its intended use of accepting the $1500 charge from 1/**/2015 between the two trusted payment partners. Venmo records support that [redacted]’s payment partner immediately initiated a $1500 payment back to [redacted]. These subsequent payments raised flags in the Venmo system and resulted in restrictions being placed on the [redacted]’s Venmo account as a security measure. Venmo records show that all inquiries related specifically to [redacted]’s Venmo account were addressed within the same or following business day. [redacted]’s complaint demands Venmo to offer a phone option. Venmo does not currently offer phone support as we are a small team, however strives to answer inquires within a timely manner. Upon review of this complaint, Venmo maintains that any restrictions placed on Venmo accounts or payments are a security measure to keep the Venmo service a safe way to make payments, and feels that its overall same day response to [redacted]’s inquiries was within a timely manner. Venmo does not feel that any additional compensation is owed based on an erroneous payment originally initiated by. [redacted]’s payment partner. Regards, Venmo Compliance [redacted]

Review: A charge from Venmo showed on my credit card statement without any other identifying info and I want to confirm the charge. They have been less than helpful. I proved to them to their satisfaction that it is my credit card, but they refuse to give me the information directly. They told me to contact my bank and start the process to dispute the transaction. I do not want my bank to do extra work if in fact it is a legitimate transaction. I just want to know the payee.Desired Settlement: Provide me the information directly. Do not require me to go through any more hoops.

Business

Response:

[redacted]

[redacted] Venmo LLC (“Venmo”) is in receipt of [redacted]

[redacted]’s (“[redacted]”) complaint received via the Revdex.com dated 7/**2014regarding her complaint regarding her issues with the Billing or CollectionIssues. Please find our response totheir concerns below as well as background on Venmo. Venmois a domestic person-to-person payments service that allows individual Venmousers to send or request payment from each other using mobile or websiteapplications. Payments may be funded with a credit or debit card, a bankaccount or a Venmo balance. Venmo makesfunds available instantly to Venmo recipients. These actions are only processed by Venmo,based on the initial request made by a Venmo user and if funds are availablefrom the funding method in question for that Venmo account. Venmo prefundspayments initiated, however in the event that the funds are not received fromthe payees designated financial institution, Venmo will reverse the paymentfrom the recipient to prevent a loss to Venmo. As the complaint states, [redacted]

[redacted] notified Venmo of a potentialunauthorized payment received on her credit card statement on 7/**/2015. Venmorecords show that the Venmo Support team worked with [redacted] to help confirmthat she knew the individual who had used her card in question (her daughter’sfiancé) and had confirmed that this card was previously used towards expensesfor her daughter’s wedding. [redacted] inquired about details of the paymentrecipient for this transaction however in line with its Privacy Policy, Venmois unable to release information regarding the Venmo accountholder. VenmoSupport recommended for [redacted] to speak with her daughter’s fiancé orhave him contact Venmo directly. Venmo Support team hadcommunicated this to [redacted] on 7/**/2015. Venmo is unable to comply with[redacted]’s request for anyadditional details regarding the payment in question and again recommends for[redacted] to follow-up with her daughter’s fiancé or have him contact Venmodirectly regarding the issue. Based on this information,Venmo considers this issue resolved. Regards,VenmoCompliance [redacted]

Review: I am writing this message as a complaint against Venmo LLC for failing to provide transaction history, and statement balance. As of August **, 2015, the option to review transactions has been removed. I only see an account balance, and have no way to verify or track where the balance came from.

Per Venmo user agreement: C1d: Transaction History

"[redacted]."

By removing the transaction history from the online account, Venmo is violating my right to review periodic statements.Desired Settlement: I am requesting statement of all transactions for months of June, July, and August 2015. The details for transactions must include the transaction date and time, originator, originating bank/institution, and the amount. The details for withdrawal must include my Venmo account number/identifier, destination bank account, my name, and date and time of transaction.

Business

Response:

[redacted]

[redacted] VenmoLLC (“Venmo”) is in receipt of [redacted]He (“[redacted]”) rebuttal complaint received via the BetterBusiness Bureau dated 8/**/2015 regarding her complaints regarding her issueswith Service Issues. Please find ourresponse to their concerns below as well as background on Venmo. Venmo is a domesticperson-to-person payments service that allows individual Venmo users to send orrequest payment from each other using mobile or website applications. Paymentsmay be funded with a credit or debit card, a bank account or a Venmo balance. Venmo makes funds available instantly to Venmo recipients. These actions are only processed by Venmo, based onthe initial request made by a Venmo user and if funds are available from thefunding method in question for that Venmo account. Venmo prefunds paymentsinitiated, however in the event that the funds are not received from the payeesdesignated financial institution, Venmo will reverse the payment from therecipient to prevent a loss to Venmo. [redacted]’s complaint statesthat the Venmo functionality for a transaction history report to be generatedis no longer available. Upon review of [redacted]’s complaint, Venmo determinedthat this functionality to pull transaction reports is still working. On8/**/2015, Venmo emailed [redacted] to provide him the link to use to pull hisVenmo account transactions. Records also show that this report can be accessedby going to Settings > Banks& Cards > Transaction History withinone’s Venmo account. Venmo also provided this information in a response to a **

[redacted] complaint filed by [redacted] on the same issue. Based on this information,Venmo feels that this complaint has been successfully resolved. Regards,VenmoCompliance [redacted]

Review: After downloading an app provided by this company, inappropriate transactions were made through my account. Several hundreds of dollars were withdrawn from my bank account without authorization. Where as some funds were returned, I am still owed $282.72; this amount includes overdraft fees incurred from my bank after the withdrawals occurred. Only 1 approved transaction took place during the 3 days that I had this app "active", the rest of the transactions were inappropriate and unauthorized. According to "Kyle G", the representative that would only communicate through email, informed me that I could not speak to a live person to help resolve this issue. I emailed very specific transaction dates with amounts noted. He then, in turn, requested the routing number and the last 4 digits of account numbers involved to help "replace the funds". After receiving that information, I have yet to receive an update on my complaint. There have been no funds deposited from "Venmo, Inc", and no more email conversations since 08/**/2015.Desired Settlement: I would like to receive the $282.72 owed to my account from Venmo, Inc. related to inappropriate withdrawals from my bank account.

Consumer

Response:

At this time, I have not been contacted by Venmo Inc. regarding complaint ID [redacted].Sincerely,[redacted]

I paid someone Dec *, the money left my account and still hasn't shown up in the other persons account. No response from Venmo since initial response saying a different department would contact me. I request help every business day.

Review: On Sept **, 2015, I received a payment on Venmo. However, when attempting to withdraw the funds the next day, I was notified that my account was frozen and my Venmo balance showed an amount of $0. I then proceeded to contact support through email, but never received a response. After a few days, I contacted Venmo Support on [redacted] (on Oct *) and was notified that the appropriate team has been notified about my case and will get back to me soon via email. A couple of days passed by again, so I reached out again on [redacted] to get an update, but did not receive a reply. I then went on Venmo chat inside the mobile app and asked for an update. I was told that the appropriate team had been notified again. When I expressed my frustration, I did not receive a reply. After five days, I reached out again via email, [redacted], and chat, but did not get a single response about a resolution to my issue. I need my account unfrozen so that I have access to my funds, but I cannot reach anyone at this point. It has been more than 3 weeks since I first made contact about this issue. When I first made the Venmo account, my account was automatically frozen for some reason so I greatly complied and gave a copy of my bank statement and license so that I could use the service. I have already gone through this once but no one is helping me this time. I have complied with all regulations and security procedures that have been asked of me.Desired Settlement: Unfreeze my account and allow me access to my funds so I can withdraw to my bank account.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me and the matter has been resolved.

Sincerely,

Review: Venmo.com has not delivered my money to my bank account after I cashed out and I am showing zero balance on my Venmo account. nor responded to any of my emails. I have 687 dollars in limbo somewhere because it is not in my Venmo account or in my bank account that I linked up to it. I was given a transaction number but I do not see why they bothered to give me one if they are not going to act as an honest business. Transfer number: [redacted], it has been nearly a week and multiple emails with no result. I need this money to pay the utilities and this is also effecting my credit. I came onto the Revdex.com to make a complaint only to find that someone else has described perfectly in the exact same experience of what has happened to me except I waited longer for them to right the situation and wrote more emails, I will cut and paste what I read.

"Additional Notes

Review: I downloaded this app to recieve money from a friend. He sent me $290 4/**/2015 and soon after the $290 appeared in my Venmo account. I proceeded to "cash out" the money into my checking account and it notified me that it would be credited in my account the next business day. The next day Venmo canceled the transfer without explanation or any type of notification to me. My Venmo balance is now $0 and the transfer never happened. I have contacted Venmo twice without response. There is no phone number to get in contact with this "business". They basically took my money and is ignoring my emails.

Desired Settlement: First Venmo should contact me as soon as possible and explain to me where my money is if it's not in my Venmo account or Checking account. They should tell me how my money disapeared, why they are not responding to my emails and ultimately give me my $290 that they have in their possession. If these actions aren't taken I will sue for my rightful money."

That is a previous complaint that only shows that there is something clearly wrong with this company. I thought I would try Venmo out to see how it would go only to find it to be a very miserable experience. After my money is deposited into my account I refuse to use the service again but I WANT MY MONEY. To make it worse I can not even make a phone call. However I did find a phone number on here that I will be trying later with the expectation that it does not work.Desired Settlement: I want my money deposited into my bank account. There needs to be REAL customer service to be put into place. If my money does not get placed into my bank account I will contact a lawyer to sue. I will be asking the courts to close down the company as it is proving to be fraudulent by ignoring its users. Everything about me has been confirmed so there is NO REASON not to place my funds into my bank.

Business

Response:

Need additional information

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID# [redacted], and have determined that my complaint has NOT been resolved because:

They asked a vague question of needing more information without specifying what exactly. I do believe I made myself very clear and gave plenty of information. They have all the information they need to give me my money

In order for the Revdex.com to appropriately process your response, you MUST answer the question above.

Sincerely,

Business

Response:

[redacted] Venmo LLC (“Venmo”) is inreceipt of [redacted] (“[redacted]”) complaint received viathe Revdex.com dated 6/*/2015 regarding his complaint of DeliveryIssues and non-response from Venmo. Please find our response to [redacted] concerns below aswell as background on Venmo. Venmo is a domesticperson-to-person payments service that allows individual Venmo users to send orrequest payment from each other using mobile or website applications. Paymentsmay be funded with a credit or debit card, a bank account or a Venmo balance. Venmo makes funds available instantly to Venmo recipients. These actions are only processed by Venmo, based onthe initial request made by a Venmo user and if funds are available from thefunding method in question for that Venmo account. Venmo prefunds paymentsinitiated, however in the event that the funds are not received from the payeesdesignated financial institution, Venmo will reverse the payment from therecipient to prevent a loss to Venmo. As the complaint confirms, [redacted] attempted to cash out her balance from payments she received on 5/**/2015.Several security flags were raised and the cash out payment was placed on holduntil the matter could be investigated. Venmo Fraud and Risk team made thedecision to reverseany payments received back to her payment partner’s original payment instrumentbased on our review (ref: Section E.18). Venmo recommends for [redacted] to follow-up with herpayment partner on the matter. The Venmo team has communicated the currentstatus of her payment and her Venmo account with [redacted] on 6/*/2015. Venmo is unable to comply with [redacted] request to complete her cash out request also regrets that it canno longer offer its services to [redacted] at this time. Furthermore,Venmo considers this issue resolved. Regards,VenmoCompliance [redacted]

Review: I will start off by saying that I understand that I have technically violated Venmo's user agreement by using the service for a "merchant" transaction.

I was recently the victim of fraud in which a person contacted me about an item I was selling on [redacted] and offered to pay via Venmo. This person was using stolen financial information and even though I deposited his payment to me into my linked checking account before handing over the item, the funds never appeared. It took Venmo an excessively long time to confirm this, and they offered no solution and instead blamed me for not reading the user agreement carefully enough. However, it's my belief that Venmo misleads customers and users info believing the service is much more secure than it actually is. They state on their website that transactions are final and cannot be canceled, however this is exactly what happened to me. They make a point of advertising themselves as a service and division of [redacted], neglecting to mention anywhere that Venmo offers none of the protections that [redacted] offers its customers.Desired Settlement: Since it is clear I will never see the camera again, and Venmo refuses to provide any information that I could use to locate the person that scammed me (they care more about the "privacy rights" of the criminal than the security of their legitimate customers and users), I only ask for a refund in the amount of $2699.

Business

Response:

[redacted]

[redacted] I am writing on behalf of [redacted], Inc. in response to your complaint regarding [redacted]’s Venmo product. Your complaint states that you received $2,699.00 in funds via Venmo on February **, 2016 for an item you sold, and you initiated a withdrawal to your bank account on February **, 2016. You state that these funds have not been released to you. Description of Relief At the outset, it is important to note that on February **, 2016, we reversed the $2,699.00 USD in funds back to the sender’s original payment instrument. Response On February **, 2016, you created a Venmo account (“Account”), at which time you agreed to the Venmo user agreement (“User Agreement”). On the same day, you added your [redacted] bank account (“Bank Account”) to your Venmo Account to be used for payments and withdrawals. On February **, 2016, you received three payments totaling $2,699.00 from your sender (“Sender”). On the same day, you initiated a withdrawal of these funds to your Bank Account. As the complaint confirms, [redacted] participated in prohibited activity by conducting non-approved business activity on Venmo.Venmo does not permit merchants to make sales via Venmo, nor do we offer buyer or seller protection. Business usage of Venmo requires an application and explicit authorization, for which [redacted] did not have. Venmo does not offer any seller or buyer protection programs. The enclosed article is available by clicking the Security link at the bottom of the Venmo website and states, Avoid payments to people you don’t know, especially if it involves a sale for goods or services (like event tickets and [redacted] items). These payments are potentially high risk, and you could lose your money without getting what you paid for. We don’t permit merchants to make sales via Venmo, nor do we offer buyer or seller protection. In addition, the User Agreement states that Venmo “does not have any control over any products or services that are paid for with our services and Company cannot ensure that any party you are dealing with will actually complete the transaction or is authorized to do so.” User Agreement at Section D(20). Venmo records support that the funds related to the payments received by [redacted] raised multiple security flags that resulted in his transfer being held. Based on our review, we determined that [redacted] had engaged in one or more restricted activities under the Venmo User Agreement including conducting non-approved business activity on Venmo, sending or receiving what we reasonably believe to be potentially fraudulent funds with an account associated that has engaged in restricted activities, and participating in a payment that may result in reversals. As a result, we cancelled the withdrawal to [redacted]’s Bank Account and reversed the $2,699.00 in funds to the Sender’s original payment instrument as permitted under Section D.15(b) of the User Agreement. Venmo recommends that [redacted] follow up with his customer and regrets that we can no longer offer him the Venmo service. Explanation of Closure Venmo’s actions in this matter were taken in good faith and within the terms set forth in the User Agreement and Security Disclosures as a reasonable measure to maintain the security of the Venmo system. We had a reasonable basis for holding the withdrawal for further review. As the funds have been reversed back to your Sender’s original payment instrument, we consider this matter resolved. We offer our sincerest apologies for any difficulties you may have encountered while using our services. Please feel free to contact [redacted]’s Executive Escalations Office at [redacted], should you have any questions or concerns, or if I can be of further assistance to you. Very sincerely yours, Kellie L[redacted] Executive Escalations [redacted], Inc.

Review: I received a notice from Venmo over a full week ago (on December*) that I "owed" the company $1000. Upon calling my bank, and going through all of my Venmo transactions, I could not figure out what this was for. The friend I had transferred money to had received it, and sent it back to me.

I emailed Venmo (who does not have a phone number for customer service), and received one rude response that simply copy and pasted my own statements and offered no explanation for the supposed $1000 they claimed I owe. Since then, I have sent a total of 7 emails with absolutely no response. I took to their [redacted] page as well, only to find pages and pages of IDENTICAL complaints by other users---- all with no response.Desired Settlement: I just want someone to respond to me so that the situation can be rectified. Eight days is just absolutely unacceptable to wait for a response on a $1000 charge.

Business

Response:

Venmo LLC[redacted] December**, 2014 Revdex.com Compliant Response Re: [redacted] Case ID [redacted] Please be aware that Venmo offices have moved from its previous location of [redacted] to its new location at [redacted]. [redacted] Venmo LLC (“Venmo”) is in receipt of [redacted] (“[redacted]”) complaint received via the Revdex.com dated 12/**/2014 regarding her complaint regarding her issues with the notification of the $1000 owed to Venmo. Please find our response to her concerns below. Upon further review of the Revdex.com complaint rebuttal letter received for [redacted], she states that Venmo is still claiming $900 inappropriately. Venmo is a P2P payments service that allows its users to send or request payments via text or email to other individuals, and is designed for payments between friends and people who trust each other. These actions are only processed by Venmo, based on the initial request made by a Venmo user and if funds are available from the funding method in question for that Venmo account. Venmo prefunds payments initiated, however in the event that the funds are not received from the payees designated financial institution, Venmo will reverse the payment from the recipient to prevent a loss to Venmo. Please see the timeline of events regarding [redacted]’s claim: 11/**/2014: [redacted] accepted a $1000 charge request (Payment ID: [redacted] social feed comment “[redacted]”) initialed from her friend, [redacted] ([redacted]) from her [redacted] bank account ending [redacted] o 11/**/2014: Venmo prefunds this $1000 payment to [redacted]’s Venmo account o 11/**/2014: [redacted] proceeds to initiate a charge request to [redacted] for the amount of $100,000 (social feed comment “[redacted]”. • [redacted] proceeds to reject this $100,000 charge request from [redacted] • 11/**/2014: [redacted] proceeds to initiate another charge request to [redacted] for the amount of $1,000 (Payment ID: [redacted] social feed comment “[redacted]”. • [redacted] proceeds to accept this $1,000 charge request (Payment ID: [redacted]) from [redacted] which was funded by the $1,000 in [redacted]’s Venmo balance prefunded by Venmo • 11/**/2014: [redacted] proceeds to initiate a payment to [redacted] for $35 (Payment ID: [redacted] social feed comment “([redacted]”) from her Venmo balance of which funds were still prefunded by Venmo • 11/**/2014: [redacted] initiates a cash out of her Venmo balance (of which funds were prefunded by Venmo) to her [redacted] account ending [redacted] • 12/*/2014: Venmo receives notification from [redacted]’s bank, [redacted], advising there were insufficient funds in her account ending [redacted] to fund the $1,000 charge she accepted and Venmo prefunded from Payment ID: [redacted] o Insufficient funds in [redacted]’s account resulted in a $1,000 loss to Venmo o Venmo sends notification to [redacted] regarding the insufficient funds notification from her bank and the $1,000 owed to Venmo that resulted from this [redacted] maintains in her complaint that she has sent 7 emails to Venmo with no response. Venmo records show that after the initial email sent on 12/*/2014 was sent to [redacted], Venmo Support team as responded to [redacted]’s inquiries in 4 individual communications (on dates 12/*, 12/*, 12/*, 12/**) explaining the issue and why [redacted] owes funds to Venmo. The last communication from Venmo Support was dated 12/**/2014, asking [redacted] to follow-up with her claim and provide supporting documentation that her bank, [redacted], did in fact withdraw funds from her bank account. To date, Venmo has not received any follow-up communication or supporting documentation to Venmo. Venmo has also not received the $1,000 owed to Venmo by [redacted]. [redacted]’s complaint requests a desired resolution that someone responds to her so that the situation can be rectified. Today, 12/**, Venmo Compliance did reach out to [redacted] to request her to respond to our inquiry of supporting documents on her claim or to complete the steps necessary to pay Venmo the $1,000 owed by [redacted]. Venmo looks forward to resolving the matter with [redacted] in an expeditious manner. Regards, Venmo Compliance

Review: I transferred money to my cousin via venmo. Unfortunately, the account I sent it to was her previous account which was inactive. The money was withdrawn from my account and put in her inactive account. She has tried for a week to access the account but is unable to. She no longer has the phone number it is associated with, and has not received the email verification they have sent. They will not resolve this issue when it is in their power to cancel transactions. Once they cancel that transaction I can then pay to her new, active account.Desired Settlement: I want them to cancel the transaction.

Business

Response:

VenmoLLC[redacted] June *, 2015 Revdex.com Complaint ResponseRe: [redacted]Case ID [redacted] Venmo LLC (“Venmo”) is inreceipt of [redacted]’s (“[redacted]”) complaint received via the Revdex.comdated 6/*/2015. [redacted]’s complaint references service issues. Please findour response to her concerns below as well as background of Venmo. Venmo is a domesticperson-to-person payments service that allows individual Venmo users to send orrequest payment from each other using mobile or website applications. Paymentsmay be funded with a credit or debit card, a bank account or a Venmo balance. Venmo makes funds available instantly to Venmo recipients.Received funds can be withdrawn to a US bank account or sent to other Venmousers. These actions are only processedby Venmo, based on the initial request made by a Venmo user and if funds areavailable from the funding method in question for that Venmo account. Venmoprefunds payments initiated, however in the event that the funds are notreceived from the payees designated financial institution, Venmo will attemptto recover the funds from another funding source to prevent a loss to Venmo. The complaint states that [redacted]’s payment partner was having issues with accessing their Venmo account.In accordance to Venmo’s Privacy Policy, we ask that the accountholder contactour Support team for any account issues, as we cannot speak to third partiesregarding other user’s accounts. Venmo appreciates [redacted] as a Venmo customer and looks forward to resolving any account access issuesdirectly with her payment partner. Regards,VenmoCompliance [redacted]

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID# [redacted], and have determined that my complaint has NOT been resolved because:

My cousin was finally able to access her account and the funds. However, I want Venmo to prevent this problem from happening again in the future. If an account is frozen due to inactivity, venmo should also freeze all attempted transfers so that the money is not withdrawn from the sender's account and left inaccessible in the receiver's. And, Venmo should have customer service available by phone to resolve these issues quickly. Email is not efficient and delays the resolution of any issues. I will not be satisfied until Venmo makes better efforts with their customer service.

In order for the Revdex.com to appropriately process your response, you MUST answer the question above.

Sincerely,

Review: I sold a product a GoPro camera the money was exchanged through venmo I ship the product because the accounts that I had the money I went to put the money in my bank account they ask for more proof that I had access to the account so I show them the proof then they sent me something saying the money was returned to my venmo account but when I went to my account there was no money there so I'm out $630Desired Settlement: I would like them to transfer the money to the bank account I have on file so I can pay my bills

Business

Response:

[redacted] VenmoLLC (“Venmo”) is in receipt of [redacted] (“[redacted]”) rebuttal complaintreceived via the Revdex.com dated 7/**/2015 regarding his complaintsregarding his issues with Product Issues. Please find our response to their concerns below as well as backgroundon Venmo. Venmo is a domesticperson-to-person payments service that allows individual Venmo users to send orrequest payment from each other using mobile or website applications. Paymentsmay be funded with a credit or debit card, a bank account or a Venmo balance. Venmo makes funds available instantly to Venmo recipients. These actions are only processed by Venmo, based onthe initial request made by a Venmo user and if funds are available from thefunding method in question for that Venmo account. Venmo prefunds paymentsinitiated, however in the event that the funds are not received from the payeesdesignated financial institution, Venmo will reverse the payment from therecipient to prevent a loss to Venmo. As the original complaintconfirms, [redacted] attempted to use the Venmo for the purpose of selling goodsto what appears to be an unknown third party to [redacted]. Venmo’s UserAgreement prohibits this type of activity related to the sale of goods ormerchandise. Venmo records support that the paymentsinitiated by [redacted] to payment partners raised multiple security flags which resulted thepayment being held while under review. After cooperating with the Venmo Riskgroup with the review information requested, Venmo made the decision to reversethe payment initiated by [redacted] and allow him to transfer the funds to hisdesignated bank account. Venmomaintains that it is not liable for [redacted]’sviolation of the Venmo Terms of Service,however regrets that it can no longer offer its services to [redacted] andconsiders this issue resolved. Regards,VenmoCompliance [redacted]

Review: On may **,2015 a friend sent me $260.00 thru venmo, on May **,2015 I verified my checking information with venmo and transferred the @60.00 to my checking, it sat in pending status for ** days then went to completed but never showed up in my checking account. I talked to my bank they say they no nothing about it. I have sent Venmo 9 emails with no respose, they do not have a customer service contact number, I amd struggling and really need that 260.00, Please help meDesired Settlement: Venmo to be shut down and for me to get my $260.00 they stole from me tobe transferred to my checking account

Business

Response:

* VenmoLLC (“Venmo”) is in receipt of [redacted] (“[redacted]”) rebuttal complaintreceived via the Revdex.com dated 7/**/2015 regarding his complaintsregarding her issues with Customer Service Issues. Please find our response to their concernsbelow as well as background on Venmo. Venmo is a domesticperson-to-person payments service that allows individual Venmo users to send orrequest payment from each other using mobile or website applications. Paymentsmay be funded with a credit or debit card, a bank account or a Venmo balance. Venmo makes funds available instantly to Venmo recipients. These actions are only processed by Venmo, based onthe initial request made by a Venmo user and if funds are available from thefunding method in question for that Venmo account. Venmo prefunds paymentsinitiated, however in the event that the funds are not received from the payeesdesignated financial institution, Venmo will reverse the payment from therecipient to prevent a loss to Venmo. Areview of the complaint confirms that the $260 pending bank transfer referencedhas been released for processing. Multiple security flags were raised whichresulted in this transfer to be held while a review was conducted. Venmo placednecessary restrictions on her Venmo account and had reached out to [redacted]on 8/**/2015 to her email address tied to her Venmo account for moreinformation. Records show that no response has been received from [redacted]regarding the matter. Venmo looks forward to hearing from [redacted] andresolving her Venmo account review soon. Regards,VenmoCompliance [redacted]

Review: Was sent a Venmo request for 3 Lipkit items at 40 each totaling $120.

Seller requested I pay via Venmo in the amount of $120

Payment was made on 1/**/16 for 120 + 3% Venmo charge = $123.90, seller provided [redacted] tracking # which turns out to be invalid and has now blocked me and will not communicate. I have contacted Venmo regarding cancelling payment and have received no response.

I have disputed the charge with my Bank Institution but they require me to contact merchant first, but I have had no luck.Desired Settlement: Refund in the amount of $123.90 or I will pursue further action.

Business

Response:

February **, 2016 [redacted]

[redacted] RE: Revdex.com Complaint #[redacted] I am writing on behalf of [redacted], Inc. in response to your complaint regarding [redacted]’s Venmo product. Your complaint states that you sent a $120.00 payment via Venmo on January **, 2016, for the purchase of goods that you did not receive from your seller. Response On January **, 2016, you created a Venmo account (“Account”), at which time you agreed to the Venmo user agreement (“User Agreement”). On that same day, you added your GE Capital [redacted] to your Venmo Account to use as a funding source for future purchases. On January **, 2016, you sent a $120.00 payment from your Venmo Account to your seller for the purchase of “3 Lipkit items” that you claim you did not receive. Venmo does not offer any buyer protection programs. The enclosed article is available by clicking the Security link at the bottom of the Venmo website and states, Avoid payments to people you don’t know, especially if it involves a sale for goods or services (like event tickets and [redacted] items). These payments are potentially high risk, and you could lose your money without getting what you paid for. We don’t permit merchants to make sales via Venmo, nor do we offer buyer or seller protection. In addition, the User Agreement states that Venmo “does not have any control over any products or services that are paid for with our services and Company cannot ensure that any party you are dealing with will actually complete the transaction or is authorized to do so.” User Agreement at Section D(20). Additionally, on January **, 2016 you contacted Venmo Customer Support regarding this payment stating, “Reverse Payment Request.” Because this was the only thing you stated in your request, we reviewed your account on that same date and requested additional information stating: Sorry to hear you’re having trouble. I’m not quite sure I understand your inquiry. Would you mind elaborating on the issues you’re experiencing please? You did not respond to our January **, 2016 request for additional information so on February *, 2016 we wrote to you stating: Hi there! It looks like we haven’t received a response from you for a while. We’re going to go ahead and close this support ticket unless you have any other questions. If you would like to keep this ticket open, just reply to this message and one of our agents will get back to you shortly. Thanks again for contacting Venmo! We never received a response from you to either of our requests for additional information. Explanation of Closure Venmo does not offer a purchase protection program that will reimburse you for the items you paid your seller for but did not receive. Venmo acted in good faith and within the terms of our User Agreement and Security disclosures. We offer our sincerest apologies for the difficulties you encountered while using our services. Please feel free to contact [redacted]’s Executive Escalations Office at [redacted], should you have any questions or concerns, or if I can be of further assistance to you. Very sincerely yours, [redacted] Executive Escalations

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID# [redacted], and have determined that my complaint has NOT been resolved because:

I didn't receive a follow-up response from Venmo after I sent the initial communication or I would have responded back. This is the reason a complaint was registered with the Revdex.com in the first place. I would this action to be resolved before further action is taken.

In order for the Revdex.com to appropriately process your response, you MUST answer the question above.

Sincerely,

Review: They have about $2500 of my money frozen and I have been trying to contact them about it and I haven't been contacted backDesired Settlement: I would like them to unfreeze my account and release my funds to me as soon as possible

Business

Response:

[redacted]

[redacted] RE: Revdex.com Complaint #[redacted] I am writing on behalf of [redacted], Inc. in response to your complaint regarding [redacted]’s Venmo product. You state that you received a $2,500.00 payment into your Venmo Account and initiated a withdrawal to your bank account on that same day. You state that the funds have not been released to you. Response On February **, 2016, you created a Venmo account (“Account”), at which time you agreed to the Venmo user agreement (“User Agreement”). On the same day, you added your Chase Bank account (“Bank Account”) to your Venmo Account to use as a funding source for future purchases. On February **, 2016, you received a $2,500.00 payment from your sender (“Sender”). On that same day, you initiated a withdrawal of these funds to your Bank Account. Because your Venmo Account was new and received a high dollar payment, on February **, 2016, so that we could verify your identity, we canceled the withdrawal and “froze” your Account which prevented you from sending or receiving funds. Please note that the User Agreement at Section D(15)(b) permits Venmo to take this action. We sent you notice on that same date that your Account was “frozen” and asked you to provide us a government issued ID, a statement from a bank you have on your account and a copy of the debit and credit cards added to your Venmo Account. Additionally, on this same date, we reversed the $2,500.00 payment back to the Sender’s original funding source. As of the date of this response, we have not yet received the requested documentation and your Account remains frozen. Explanation of Closure We believe that Venmo acted in good faith and in accordance with the User Agreement when denying you access to our services as a reasonable measure to maintain the security of Venmo's system and to verify your identity. As the $2,500.00 payment has been reversed back to your sender’s original funding source, we consider this matter resolved. We offer our sincerest apologies for any difficulties you may have encountered while using our Venmo service. Please feel free to contact [redacted]’s Executive Escalations Office at [redacted], should you have any questions or concerns, or if I can be of further assistance to you. Very sincerely yours, Kellie L[redacted] Executive Escalations Tell us why here...

Review: I used venmo to pay and get payed with my friends (used a lot of times). I had $2999.99 on the venmo account, and I cashed out to my bank account on November **, 2014, and I should get it by November **, 2014.

I never got the money on my bank account. The transfer was canceled by venmo, and the money never was refunded.

I tryed to contact them by email and official [redacted], a lot of times for more than a month, and never got an ansewer. They only have those 2 ways to contact.

I do not know what more to do.Desired Settlement: They must give me back my money

Business

Response:

[redacted]

[redacted]Venmo LLC (“Venmo”) is in receipt of [redacted] (“[redacted]) complaint received via the Revdex.com dated 12/**/2014 regarding his complaint of non-receipt of funds. Please find our response to his concerns below.Venmo is a P2P payments service that allows its users to send or request payments via text or email to other individuals, and is designed for payments between friends and people who trust each other. These actions are only processed by Venmo, based on the initial request made by a Venmo user and if funds are available from the funding method in question for that Venmo account. Venmo prefunds payments initiated, however in the event that the funds are not received from the payees designated financial institution, Venmo will reverse the payment from the recipient to prevent a loss to Venmo. Upon further review of the Revdex.com complaint letter received for [redacted], he claims that he received notification noting the expected deposit date for the funds in question. Venmo records show the sender’s initial payment method did not have sufficient funds in the designated bank account to process the payment.As such, Venmo could not process [redacted]’s deposit of the funds. Please be advised that Venmo’s Fraud and Compliance group has conducted an investigation on [redacted]’s account, as well as the other related Venmo accounts in question, and have chosen to exercise our right to terminate our relationship with [redacted].Regards,[redacted]

Review: My Venmo account was frozen when I tried to change bank accounts on it. I emailed customer service nearly two weeks ago since Venmo doesn't have a phone number for customer service, and so far, no response. Dead silence. With another account I have, a cashout has been stuck in pending for 4 days with no explanation. I have not violated the TOS, and all of these are personal payments to friends. This company is incredibly dysfunctional and unprofessional, downright fraudulent, and I think the [redacted] should consider shutting them down. They certainly shouldn't be licensed to operate as a money service business.Desired Settlement: Unfreeze my account, please. Or call me first. Name is [redacted].

Business

Response:

VenmoLLC[redacted]

April **, 2015 Revdex.com Complaint ResponseRe: [redacted] Case ID: [redacted] Venmo LLC (“Venmo”) is inreceipt of [redacted] (“[redacted] ”) complaint received viathe Revdex.com dated 5/**/2015 regarding his complaint of ServiceIssues and non-response from Venmo. Please find our response to [redacted] concerns below as well as background on Venmo. Venmo is a domesticperson-to-person payments service that allows individual Venmo users to send orrequest payment from each other using mobile or website applications. Paymentsmay be funded with a credit or debit card, a bank account or a Venmo balance. Venmo makes funds available instantly to Venmo recipients. These actions are only processed by Venmo, based onthe initial request made by a Venmo user and if funds are available from thefunding method in question for that Venmo account. Venmo prefunds paymentsinitiated, however in the event that the funds are not received from the payeesdesignated financial institution, Venmo will reverse the payment from therecipient to prevent a loss to Venmo. As the complaint states, [redacted] attemptedto change his bank account, which resulted in restrictions being placed on hisVenmo account. The complaint further confirms that [redacted] admittedly maintainsseveral Venmo accounts. Venmo records confirm that [redacted] had created severalaccounts, which is a violation of the Venmo terms of service. Venmo records also show that several paymentsreceived by [redacted] that were originally prefunded by Venmo, were later deemed as failedpayments by his payment senders’ financial institutions on dates 5/**/2015 and5/**/2015. These factors, as well as [redacted] maintaining several Venmo accounts raised security flagsthat resulted in his account being restricted. Venmo has reached out to [redacted] with the steps required to completethe review of the restrictions on his account. We look forward to hearing from[redacted] and resolving the matter. Regards,VenmoCompliance [redacted]

Review: A friend sent me $300 via venmo.com to my venmo account on May **,2015. I cashout the money on May **,2015 to be deposited into my bank account but it never made it. Venmo cancelled the cashout and now the money is not in my venmo account or my bank account. my bank account was verified by venmo. My venmo name and my bank account name are different but my bank said as long as the account number is correct the money could be deposited to my account.Desired Settlement: I would like venmo to refund the money back into my venmo account or refund the money back to my friend venmo account or to his bank account or credit card or however he sent the payment.

Business

Response:

[redacted]

[redacted] Venmo LLC (“Venmo”) is inreceipt of [redacted] (“[redacted]”) complaint received viathe Revdex.com dated 5/[redacted]/2015 regarding his complaint of ServiceIssues and non-response from Venmo. Please find our response to [redacted] concerns below as well as background on Venmo. Venmo is a domesticperson-to-person payments service that allows individual Venmo users to send orrequest payment from each other using mobile or website applications. Paymentsmay be funded with a credit or debit card, a bank account or a Venmo balance. Venmo makes funds available instantly to Venmo recipients. These actions are only processed by Venmo, based onthe initial request made by a Venmo user and if funds are available from thefunding method in question for that Venmo account. Venmo prefunds paymentsinitiated, however in the event that the funds are not received from the payeesdesignated financial institution, Venmo will reverse the payment from therecipient to prevent a loss to Venmo. As the complaint states, [redacted] attemptedto cash out her balance from a payment she received on dates 5/**/2015. Thecomplaint further confirms that [redacted] admittedly usedinconsistent Venmo profile information that differed from her profileinformation linked to her bank account. False, inaccurate, or misleadinginformation is a violation of the Venmo Terms of Service and can result in a decisionto not process a transfer to or from a users account. Based on a comprehensive review of [redacted]’saccount, Venmo has chosen to not complete the transfer referenced in thecompliant. Furthermore, Venmo also regrets that it can no longer offer itsservices to [redacted] and considers this issue resolved. Regards,VenmoCompliance [redacted]

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID# [redacted], and have determined that my complaint has NOT been resolved because:

My name on venmo account is different from my name on my bank account for privacy purposes and does not give venmo the right to keep the money that was sent to me in my venmo account. Venmo needs to send the money back to the person who sent the money to me.

In order for the Revdex.com to appropriately process your response, you MUST answer the question above.

Sincerely,

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID# [redacted], and have determined that my complaint has NOT been resolved because:

As of June **, 2015 the $300 has not been returned. Please return the money.

In order for the Revdex.com to appropriately process your response, you MUST answer the question above.

Sincerely,

Business

Response:

[redacted]

Venmo LLC (“Venmo”) is inreceipt of [redacted] (“[redacted]”) complaint rebuttal receivedvia the Revdex.com dated 6/**/2015 regarding his complaint of ServiceIssues and non-response from Venmo. Please find our response to [redacted]’sconcerns below. The complaint rebuttal statesthat [redacted] that the $300 in funds have not been returned. Venmo again regrets that itcan no longer offer its services to [redacted] and has returned any funds backto its original payment instrument belonging to her payment partner on5/**/2015. Venmo recommends [redacted] following up with this issue with herpayment partner/client. Based on this, Venmo still considers this issueresolved. Regards,VenmoCompliance [redacted]

Review: On June [redacted] a friend paid my thru venmo.com, two days later I tried to transfer my money to my local bank. A day later my account showed that the transferred failed, but venmo did not put the money back in to my account. I contacted them by email (as they have no phone) on June [redacted] and waited for three days with no reply. I've emailed them two more times and I have never gotten an email from them explaining what happened to my $100.00.Desired Settlement: I want my money transferred to my local bank account.

Business

Response:

VenmoLLC[redacted] July **, 2015 Revdex.com Compliant ResponseRe: [redacted]Case ID [redacted] VenmoLLC (“Venmo”) is in receipt of [redacted]’s (“[redacted]”) complaint received via the BetterBusiness Bureau dated 7/**/2014 regarding his complaint regarding his issueswith the Billing or Collection Issues. Pleasefind our response to their concerns below as well as background on Venmo. Venmo is a domesticperson-to-person payments service that allows individual Venmo users to send orrequest payment from each other using mobile or website applications. Paymentsmay be funded with a credit or debit card, a bank account or a Venmo balance. Venmo makes funds available instantly to Venmo recipients. These actions are only processed by Venmo, based onthe initial request made by a Venmo user and if funds are available from thefunding method in question for that Venmo account. Venmo prefunds paymentsinitiated, however in the event that the funds are not received from the payeesdesignated financial institution, Venmo will reverse the payment from therecipient to prevent a loss to Venmo. As the complaint states, [redacted] attempted totransfer his balance from a $100 payment he received on 6/**/2015. Venmo hadprefunded these received payments, however multiple security flags were raisedand the cash out payment was placed on hold until the matter could beinvestigated. Venmo received notification from his payment sender’s respectivebank that the payment failed as they were not authorized. Since Venmo hadinitially prefunded the payment, Venmo reversed the bank transfer of thebalance on [redacted]’s account to prevent a loss to Venmo. Venmo Compliance team has communicated thecurrent status of his payment on 7/**/2015. Venmo is unable to comply with [redacted]’s request to complete his cash out request and Venmo did not receive anyfunds to complete the transaction, as the payment sender he transacted with didnot authorize the payment. Based on this information, Venmo considers thisissue resolved. Regards,VenmoCompliance [redacted]