Venmo payment errors are rare. But they still happen from time to time. Maybe you add the extra digit, choose the wrong recipient by mistake, etc. So you start to looking how to cancel payment on Venmo.
We, at Howly, give you 3 useful guidelines on how to get your money back. Stick strictly to them, and you withdraw the transaction in a few clicks.
You can withdraw the transaction only if it's marked as Pending or Declined and located in the Incomplete folder. But if the payment is already complete, you can’t cancel the transaction. It’s one of Venmo’s app policies.
In this case, try to contact the recipient. Ask them politely to send your money back. If they ignore you, you can ask Venmo agents to reverse the transaction. But you should do it before a person sends that money elsewhere. Otherwise, the Venmo team can’t reverse it.
If you see a New User as the designation, you try to send funds to the phone number or e-mail address that doesn’t have a Venmo account. If this person creates an account, they could claim the finances. But what happens if they don’t get the profile? Are funds are available to you? Is the money stuck in some kind of limbo?
No, because you can’t withdraw a Venmo payment you sent. The same rule relates to non-active accounts. When you send a Venmo payment to an inactive account, it marks it as Pending. It gives you room to withdraw this transaction. Follow this instruction to reclaim your own money on the Venmo app:
Wait for 3-7 business days to withdraw the pending Venmo payment. The service will send your money back to the source, from where you sent them in the first place.
If you send your money to the registered user, the funds will be in their account within seconds. So you can’t just casually withdraw a Venmo payment you sent. But you have a few methods to save yourself from this type of situation:
But before you try to contact Venmo support to cancel payment, you should have this data: username of the recipient, date, and amount of the payment. Also provide them with the username, email, or phone number of the person that you wanted to pay in the first place.
Sometimes, Venmo automatically declined payments. Usually, they are marked as Declined or Pending. The two most common reasons for it are next:
In those cases, you can get your money back. And instruction on how to withdraw pending Venmo payment stays the same as with the non-existing account. Go Profile → Transactions → Return → Incomplete → Your payment → Take Back.
Try to contact them. If they don’t answer you, contact Venmo agents and ask to reverse the transaction. But do it as quickly as possible, before the wrong recipient transfers money elsewhere.
You can do it, only if your payment is marked as “Declined” or “Pending”. In this case, go to the profile settings. Open Transactions → Return Money → Incomplete Payment. Find your transaction and select the Take Back option.
Visit the Incomplete Payment tab. Tap on the Profile icon. After this, follow this path: Transactions → Return Money → Incomplete. You’ll see all pending or declined transactions. Find the one that you need and tap on it. Tap on the Take Back virtual button.
As you see, there are not many cases when you can cancel a Venmo payment. Basically, you allow to do it, until the recipient gets the money. When you send it to a non-active or non-existing user when your card provider declines the transaction, or when it triggers some security flag. In those cases, your transaction mark as pending, so you can revoke Venmo payment to an inactive account.
But if you send your money to the existing profile, you can’t get your money easily. First of all, write to the recipient. Ask them politely to get your funds back. If they don’t respond to you, contact Venmo help and ask to reverse the transaction.
But if the person already sends this money somewhere else or buy something, Venmo can’t reverse the transaction. Thus, it’s important to react as fast as you could. Otherwise, you will lose your own funds.