Venmo Inc.

Review: My VENMO account has had the email address and the password changed and now a debit of my checking account has been made via ACH for $2,995. I am unable to get a reply from VENMO via email, the only way I have to contact them. I need help in speaking someone in their fraud department to get this resolved before it gets worse and yet I can get no reply from them.Desired Settlement: I need to speak to someone and have my issue acknowledged and have the link to my bank account and my former account shutdown, NOW! I need to have them honor their written policy to indemnify me for this loss!! Please help!!

Business

Response:

Venmo LLC (“Venmo”) is in receipt of [redacted] (“[redacted]”) complaint dated 1/**/2015 received via the Revdex.com. The complaint references Billing or Collection Issues. Please find our response to his concerns below as well as background on 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 Received funds can be withdrawn to a US bank account or sent to other Venmo users. Venmo is a licensed money transmitter and registered MSB, and operates in other jurisdictions as a designated agent of [redacted], Inc. For more information, please refer to the Venmo website at [redacted] As the complaint states, [redacted]’ Venmo account was in fact compromised and an unauthorized payment was initiated on 1/*/2015. Venmo’s Support and Fraud was in communication with [redacted] on the steps to regain access to use his Venmo account securely. Venmo records show that on 1/**/2015, the Venmo Fraud team did send correspondence to [redacted] acknowledging this issue. Records also confirm that the bank account referenced has been marked as invalid as of 1/*/2015. Venmo recognizes that [redacted] is not responsible for the recovery of this unauthorized payment and apologizes for the error in the systematic recovery attempt made. Venmo is pleased that [redacted] continues to use Venmo and appreciates his patience as Venmo corrected this issue. Regards, Venmo Compliance

I used this company to make a single transaction, and my account was subsequently frozen. I later realized I had violated the TOS unintentionally. I submitted several requests to the company via email and by [redacted], even going so far as to call [redacted], who owns the company. I NEVER received a single response to my inquiries or requests for help, other than one tweet in response to ask for more account information. All during this time (from January [redacted] to the first or second week of April!) the company withheld the transaction that I had attempted to process, a total of $190.00 USD. They did not refund the money to the sender, nor did they send it to me until April. I don't appreciate being ignored. As a customer who was not doing anything illegal, but who had made a mistake, I understand that there would have to be consequences paid, but total silence and letting me struggle to figure out why a transaction was pending for almost four months and leaving me without any answers whatsoever even AFTER the transaction was completed... it is just patently absurd. This kind of service is NO way to run a business, but especially not a financial transaction business. I now recommend to all of my friends to avoid them completely.