Today, we will look at some reasons why your Venmo payment to your bank account is not showing your bank account balance. You may have transferred money from your Venmo account to your bank account and yet it hasn’t been reflected in your account. We will look at possible reasons that may cause this.
What is Venmo
Venmo is a Peer-peer payment gateway that allows its users to send and receive money with ease. It allows users to add or link their bank app to easily send payments to other recipients. Venmo offers a debit and credit card which is available to users who have fulfilled all the requirements by submitting the necessary documents. In addition, you can also cash a check right to your Venmo account. Its Mobile App is available to Android and IOS users.
Reasons why Payment isn’t showing up in your account
In order to stop scams, Venmo constantly improves fraud protection in its software. Even so, it’s possible for your payment to be mistakenly reported even if it’s valid. Your bank transfer will consequently be unsuccessful and not reflect in your account.
If money is withdrawn from your Venmo account but does not appear on your bank statement after a few days, it should return to your Venmo balance.
To resolve Venmo flagged payments or if they frozen your account with money in it, contatc customer service.
A store that takes Venmo may identify odd behavior on your account and alert it. The technology searches for odd behaviors, such using Venmo to make a purchase from Walmart online in a foreign country.
If Venmo’s servers are up, your bank’s servers could not be. In other words, the payment will be put on hold if you moved money from your Venmo account to your bank account when the bank systems were down.
The money won’t be misplaced and will be successfully processed once the bank servers are operational once more. For the payment to appear in your bank account, you might have to wait a few hours or more.
But if the extended wait worries you, we advise getting in touch with your bank to learn more. You should get assistance from the customer care at banks open on Saturday and Sunday.
Standard Deposit instead of Instant
You decided to make a normal deposit as opposed to an Instant Deposit. You have two options with Venmo for transferring money to your bank account: the Standard Deposit and the Instant Deposit.
Using the Standard Deposit option, Venmo allows free deposits. In extreme cases, it could take up to a week, but typically it takes two to three business days. However, Instant Deposits can happen instantly or take as little as 30 minutes. Therefore, it’s the best option if you want to make your transaction promptly and pay a 1.5% transfer charge.
If you still facing problem than this you should speak with their customer service.