Venmo frozen account

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Jul 11, 2019
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#1
My Venmo account has been frozen. I was prompted to send my drivers license which I did as verification. Still my account is frozen. I have $180 on my Venmo account which they will not let me deposit into my verified bank account. There were no unauthorized transactions and I’m in no debt to them. I don’t see how they can just keep my money without explanation
 

Neil Maley

Moderator
Staff Member
Advocate
Dec 27, 2014
18,127
16,265
113
New York
www.promalvacations.com
#5
I know it typically takes 3-5 business days but my bills won’t wait that long
Unfortunately, this is not an instant fix. They need to verify who you are and it does take 3 - 5 business days. There is a lot that goes on behind the scenes in order for these companies to verify your identity with the amount of identity theft and scams going on. They need to verify your bank account information by contacting your bank.

This is on their page:
I had to submit additional documents, how long will it take to review?


We review documents as quickly as we can. This review may take up to 3 business days. If you don’t hear anything back from us after 3 business days please contact us.



This explains the process for you:
https://help.venmo.com/hc/en-us/articles/221073067-Verifying-Your-Bank-Account
 
Mar 14, 2018
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#8
My Venmo account has been frozen. I was prompted to send my drivers license which I did as verification. Still my account is frozen. I have $180 on my Venmo account which they will not let me deposit into my verified bank account. There were no unauthorized transactions and I’m in no debt to them. I don’t see how they can just keep my money without explanation
If you use the same avatar on Venmo, that could be the source of the issue. The Federal Reserve is cracking down on interbank transfers related to marijuana. I recently had a transfer held because it was going to a company with a similar name as a cannabis business.
 

weihlac

Verified Member
Jun 30, 2017
1,774
1,769
113
Maui Hawaii
#9
If you use the same avatar on Venmo, that could be the source of the issue. The Federal Reserve is cracking down on interbank transfers related to marijuana. I recently had a transfer held because it was going to a company with a similar name as a cannabis business.
SMD, you may have hit the nail on the head. The Feds, banks, and cannabis do not mix. Colorado is still working the bugs out of the banking issues five years into recreational marijuana. Many Colorado cannabis companies have had to go to an all cash business since they cannot get bank accounts for business use or use credit cards. And we are talking about billions of $$$.
 
Likes: rcx141
May 1, 2018
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#10
SMD, you may have hit the nail on the head. The Feds, banks, and cannabis do not mix. Colorado is still working the bugs out of the banking issues five years into recreational marijuana. Many Colorado cannabis companies have had to go to an all cash business since they cannot get bank accounts for business use or use credit cards. And we are talking about billions of $$$.
Which is curious because if there's one thing the Feds hate, it's untraceable funds transfers.
 

Dwayne Coward

Administrator
Staff Member
Director
Apr 13, 2016
587
778
93
St. Louis
#11
One of the issues we are seeing a lot with Venmo which they are cracking down on, is using it to conduct business transactions (unless it is a merchant account). A personal Venmo account is supposed to be used with people you know and trust - family and friends. Many of the cases we are getting, is people who are using it when selling or buying goods via a listing such as craigslist and such. If you have had transactions like that, then the individual who has sent you money may be what is causing the issue.
 

Neil Maley

Moderator
Staff Member
Advocate
Dec 27, 2014
18,127
16,265
113
New York
www.promalvacations.com
#12
If you use the same avatar on Venmo, that could be the source of the issue. The Federal Reserve is cracking down on interbank transfers related to marijuana. I recently had a transfer held because it was going to a company with a similar name as a cannabis business.
Very observant! This can be exactly the problem.
 

jsn55

Verified Member
Dec 26, 2014
8,203
8,114
113
San Francisco
#14
If you use the same avatar on Venmo, that could be the source of the issue. The Federal Reserve is cracking down on interbank transfers related to marijuana. I recently had a transfer held because it was going to a company with a similar name as a cannabis business.
Hilarious! Why on earth are you using an avatar like that?