Why hasn't Venmo taken my money from my bank account
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Why hasn’t Venmo taken my money from my bank account?

To know the answer to Why hasn’t Venmo taken my money from my bank account? Read this;

“Several issues happen when Venmo doesn’t take your amount. These issues include: You sending standard transfers ⇒ Your Venmo account not being verified ⇒ You transferring money on weekends or holidays ⇒ Invalid bank account details ⇒ Limit Exceeded ⇒ Account being restricted or Frozen ⇒ Server Down ⇒ Not having enough amount ⇒ Another person not using Venmo ⇒ Network Issue  ⇒ You cannot transfer amount from Venmo balance to your bank account.” 

Read the entire blog and learn all the details about the issue along with their solution. 

Reasons why hasn’t Venmo taken my money from my bank account:

Here are some reasons that happen when Venmo does not take money from a bank account: 

1. You didn’t verify your bank account:

One of the main reasons that Venmo stops taking your money from your bank account is that, during the transaction process, you forget to verify your bank account. To ensure that all of your transactions are secure and go to the right place, Venmo always recommends that its users verify their bank accounts. 

Solution:

Once you create a Venmo account, the first thing you need to do is verify your bank account. So, hurry up and verify your bank account before doing a transaction.

Read Here: How to Create Venmo Account? Types, Requirements & Process 

2. You transfer money on a weekend or a holiday:

If you transfer your money on a weekend or holiday through a standard transfer,. Then, you need to wait for the next few business days to complete your transactions. On the other hand, if you make your transactions during the holidays, they will continue until the holidays end, and then your transaction will be completed. 

Solution: 

Don’t make standard transactions on holidays or weekends. You can send money instantly before holidays and weekends. 

3. Standard Transfer:

When you send money through a standard transfer, it takes 1 to 3 business days. On the other hand, an instant transfer sends your money within 30 minutes. That’s why if you think that Venmo has taken your money from your bank account, it means that your standard transfer is not completed yet. You have to wait for 1–3 days to complete the process. 

Solution: 

Make an instant transfer to avoid waiting for your money. If you send an instant transfer, then you will get your money within 30 minutes. 

4. You entered an invalid bank account:

If you are still curious about Why hasn’t Venmo taken my money from my bank account? then, you need to make sure that you entered an invalid bank account. If you enter the wrong details, it means the other person does not find the bank account of the other person. 

Solution:

Double-check the details before making transactions through Venmo. Ensure that you entered the correct details of the person’s account to which you want to send the money. 

5. Limit Exceeded:

If Venmo is not taking your money from a bank account, then check the limitation; there is a chance that the Venmo bank account limit is also exceeded. If the daily or weekly limit of Venmo is exceeded, then Venmo also does not allow you to send extra money. 

Read Here: How Much is Venmo Limit Per Day? 

Solution:

If your account is not verified, then you need to verify your Venmo account. Verifying your Venmo account will increase your transfer limit rather than your unverified account. 

6. A bank account is restricted or frozen:

If Venmo suspects any illegal activity with your account, it immediately freezes your account. If your account is frozen, you won’t be able to send or receive money from anyone on Venmo. 

Solution:

To resolve this, you have to contact the bank and tell them your problem.

7. Temporary issue or server down:

There is a chance that the Venmo server is down for a while or that any technical issue occurs with bank servers. This also becomes a reason why Venmo is taking your money from your bank account.

Solution:

Check Venmo’s social media accounts and see if they share any news regarding server downtime or technical issues. If yes, then wait for a while and keep checking their accounts. After resolving the issue, they may announce any news regarding this. 

8. Another person is not using Venmo:

If you see that your transfer amount is declined, then check and make sure that the other person has a Venmo account or not. So, if you send an account to a person who doesn’t have a Venmo account, then your payment is pending. 

Solution:

You can request Venmo to refund your payment, or it will be sent to another person if they sign up for a Venmo account. 

9. Not having enough balance:

Insufficient balance also causes a problem when sending an amount to another person through Venmo. In that case, if you enter a large amount and you do not have that much on your Venmo account, then this will become a problem. 

Solution:

Before sending payments to another person, make sure that you have enough balance in your account. If you don’t have it, then first add it to your Venmo balance and share it with your friend. 

10. You Didn’t transfer the money into your bank account

If you are still finding out Why hasn’t Venmo taken my money from my bank account, then check whether you sent money to your bank account from your Venmo balance or not. When you receive money in your Venmo account,. It is added to your Venmo balance. It won’t directly show up in your bank account. 

Solution:

Simply transfer the received amount from your Venmo balance to your bank account. 

11. Venmo Account Didn’t Connect:

One of the other reasons is that your Venmo account is not connected to your bank account. If your Venmo account is not connected, then this will cause problems while transferring the amount to your bank account through Venmo. 

Solution:

After you create your Venmo account, you should immediately connect your bank account to your Venmo account. 

12. Security Reasons:

Venmo also holds your amount for security reasons. If it suspects any unusual or suspicious activity, it won’t send the amount to another person. Moreover, you can also read our other separate blog Can you transfer money from Venmo to PayPal? 

Solution:

Connect with the Venmo customer support team and tell them your problem. They resolve your issue within 24 hours. 

13. Network Issue:

Another reason is the internet connection. When you send the amount to another person and your internet is not working properly. Then, there is a chance that the amount is not sent to the recipient.

Solution:

Before sending a payment through Venmo, make sure that your internet is working properly. Moreover, the recipient also checks their internet connection at the time they receive money.

14. Connect with Venmo Customer Support:

If you face any of the above issues with your Venmo account and have also tried to resolve them, it doesn’t work. Then, you need to connect with the Venmo customer support team. Describe your issue, and they will guide you properly and resolve your issue within 24 hours. 

Also Read: How to Contact Venmo Customer Service?

How much time does Venmo take to show up in my bank account?

Below, read it, and you can learn about how long Venmo takes to show up in your bank account. 

  • Instant transfer: Within 30 minutes
  • Standard Transfer: 1-3 Business Days.

Why does Venmo lose connection with Bank Plaid?

There are a lot of reasons that show Venmo lost connection with bank plaid. Have a look at them. 

  • You are using the old version of Venmo
  • Because of security reasons
  • You change your bank information. 
  • Venmo suspects suspicious activities
  • You change your multi-factor authentication

Read Here: What is Venmo Plaid? How to verify your account in 2024?

Summary

Lastly, it is very important to know all the possible reasons or issues that cause a problem regarding your payment processing. So, before sending payment to anyone through Venmo, read all the above possible reasons and try to solve them first. I hope, by reading the above blog, you got your answer to Why hasn’t Venmo taken my money from my bank account?

Frequently Asked Questions

Q. What to do if your payment is not showing up in your bank account?

If you successfully send payment through Venmo balance to your bank account, then you need to contact the Venmo support team and describe your issue. 

Q. How to check that your amount has been sent?

Check the transaction history of Venmo, and you can see all of your recent and previous details of transactions. 

Q. What should you do if you send the amount and the other person has not received it yet?

Check the “Pending” or “Incomplete” section on the Venmo app. If you see any of the pending payments here, then it means that you entered the wrong details or the other person didn’t have a Venmo account. Make sure that the other person has a Venmo account, or again, check the details. 

Q. What to do if your bank account is removed from Venmo?

Simply add it again. Sometimes, Venmo loses connection because you edit your account details or for security reasons. To add your bank account again, login to your Venmo account: ⇒ Me tab ⇒ Settings ⇒ Payment Method ⇒ Add Bank or Card.

Q. What to do if your pending transactions are not sent to another person?

You can refund your pending amount if it is not sent. Moreover, Venmo also sends you a notification for your pending payments. 

Q. How much of the longest Venmo transaction can be pending?

The longest transactions can be pending for about 3 business days. However, even after 3 days, if you don’t receive the payment, then contact Venmo customer support. 

Q. Can a bank cancel your pending transactions?

Yes, if there is any problem with your bank account, they will automatically cancel all of your pending transactions. This will happen because of any technical issues or insufficient balance. 

Q. Can you cancel all your transactions by yourself?

Yes, you can also cancel all of your pending transactions by yourself. To cancel the payment Login to Venmo app ⇒ Me tab ⇒  Transactions ⇒ Cancel.

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