“*Venmo Payment Declined, try again later” – If you landed on the Venmo help page and didn’t find an answer, read on for your answer. This is meant to help both business owners and everyday users of Venmo.
When using Venmo for transactions, experiencing a payment decline can be frustrating and confusing. The app relies on complex algorithms to determine whether a payment is approved or rejected, considering various factors such as the transaction amount, the relationship between sender and recipient, and its own fraud detection mechanisms.
This guide gives the reasons behind Venmo payment declines. By understanding these factors, you can not only troubleshoot issues when they occur, but also adopt strategies to prevent them in the future.
*If you’re having problems with Venmo as your payment processor and you’re looking for a payment processor that works with all industries, please reach out to us at our contact or application form.
Here’s Why Your Venmo Payment Declined
Below are the top reasons why you are having troubles completing your Venmo payments.
Insufficient Funds in Your Account
A common reason for Venmo payment declines is insufficient funds. When you attempt to send money, Venmo checks your available balance or linked bank account to ensure it can cover the transaction. If your account balance is too low, the payment will be rejected, prompting an insufficient funds notification. To resolve this, simply add funds to your Venmo balance or ensure your linked bank account has adequate money.
Internet or Technical Problems
Technical issues can also cause Venmo payments to decline. Poor internet connectivity or app glitches may prevent the transaction from processing correctly. If you experience a decline, first check your internet connection and try switching networks if possible. Restarting the app or your device can also help. If problems persist, contacting Venmo customer support is advisable for further assistance.
Card Issuer or Bank Declined the Payment
Sometimes, the decline is due to your bank or card issuer blocking the transaction. This can happen if they detect suspicious activity or if your account is frozen for security reasons. In such cases, the bank ultimately decides if the transaction will proceed. It’s often effective to contact your bank directly for clarification and to resolve the issue, ensuring your account is active and secure.
Venmo Payment Limits Exceeded
Venmo imposes transaction limits to prevent fraud and manage risk. For standard users, the maximum limit for peer-to-peer payments is $299.99 weekly. However, if you complete identity verification, this limit can increase to $60,000. If you exceed these amounts, your payment will decline. To avoid this, keep track of your transaction limits and consider alternative payment methods if necessary.
Incomplete, Outdated, or Unverified Account Information
Your payment might be declined if your Venmo account setup is incomplete or outdated. Ensure that your account is fully verified, which includes linking a bank account and confirming your identity. If your bank details are incorrect or if your debit/credit card has expired, the payment will fail. Regularly check and update your account information to prevent these issues.
Account is Locked or Frozen
If you fail multiple login attempts or don’t pass two-factor authentication, your Venmo account may be temporarily locked or frozen. This is a security measure to prevent unauthorized access. You may need to wait a short period before trying again or contact Venmo customer support for assistance. It’s crucial to ensure that you remember your login details to avoid this situation.
Exceeded Per-Transaction-Limit
The message “Exceeded Per-Transaction-Limit” from Venmo indicates that you have surpassed the maximum amount allowed for a single transaction. Venmo imposes limits on transactions to ensure security and manage risks, which can vary based on factors like account verification status and payment history. To resolve this issue, consider splitting the payment into smaller amounts or reviewing your account settings for potential upgrades or changes that could raise your limits.
Suspicious Payment Activity or High Volume Transactions
Frequent or unusual payment activity may trigger Venmo’s fraud detection systems, leading to declines. This can include sending a large number of transactions in a short time or international payments. If your account suddenly shows a spike in activity or if you’re using a new device, Venmo may flag your transactions as suspicious. To minimize issues, maintain consistent payment patterns and avoid sudden spikes.
*If this relates to your business, please reach out to us right away as we specifically work with high-volume merchants of all risk levels.
Products or Services Considered High-Risk
Certain types of transactions may be categorized as high-risk by Venmo, which can lead to payment declines. This includes industries with high chargeback rates, such as gambling or adult services. If your business falls under these categories, Venmo may be hesitant to process payments. Consider using alternative payment platforms that are more accommodating to high-risk transactions.
**If this relates to your business, please reach out to us as we specialize in high-risk.
Wrong recipient information
One of the most common reasons for a declined Venmo payment is entering incorrect recipient information, such as typos in the username, email, or phone number. Even minor errors can prevent successful transactions, leading to frustration and delays. To resolve this, users should double-check recipient details, confirm with the recipient if unsure, and utilize the app’s search function to reduce mistakes.
Risk Assessment by Venmo’s Algorithms
Venmo employs algorithms to assess transaction risks automatically. These algorithms evaluate factors such as payment size, sender-receiver relationships, and historical transaction data. If a payment is flagged as risky, it may be declined without further explanation. Understanding that these decisions are automated can help users remain calm and look for alternative payment methods when declines occur.
Frequent Payment Attempts Leading to Blockages
Repeatedly attempting to resend a declined payment can lead to being permanently blocked from sending money to that recipient. Venmo’s system may interpret these attempts as suspicious activity. If you encounter a payment decline, it’sbest to wait a few days before retrying. If the issue persists, seeking alternative payment methods may be the best course of action to avoid further complications.
Using Alternative Payment Platforms
When Venmo transactions fail, using alternative payment platforms can provide a quick solution. Apps like Cash App or PayPal often have different processing criteria and may work when Venmo does not. Many users find that these platforms experience fewer issues with payment declines, offering more reliability, especially for business transactions. It’s worth considering a multi-platform strategy to mitigate the risk of payment disruptions.
New or Unverified Recipient Issues
Sending money to new or unverified recipients can also lead to payment declines. Venmo’s algorithms may flag these transactions as potentially risky, particularly if the recipient has a recent account creation date or limited transaction history. It’s advisable to verify the recipient’s details and establish a history of transactions before attempting to send money, which can help avoid declines.
“Please Try Again later”
If you see a message asking you to try again later, consider the following possible reasons:
- Account Lock: Too many failed login attempts may have locked your account. Wait before trying again or contact customer support for help.
- Transaction Error: Check your transaction history to confirm if the payment went through. If not, you can attempt the transaction again later.
- Weak Internet Connection: Ensure your internet connection is stable, as a weak signal can disrupt transactions.
- Temporary Glitch: There may be a temporary issue within the Corepay system, making it advisable to wait and try again later.
What to Do If Problems Persist
If you continue to face issues with Venmo payments declining, exploring alternative payment platforms can be a smart move. Services like PayPal and Corepay may offer more flexibility, especially for high-risk transactions. PayPal provides buyer and seller protection, making it suitable for e-commerce and services with higher chargeback rates. Corepay, designed for specific industries, can also cater to unique business needs. If Venmo consistently fails to meet your requirements, diversifying your payment options can ensure smoother transactions and enhanced security for your financial dealings.
Venmo Payment Decline Codes & OAuth Errors Are As Followed:
We put together this table to answer an Venmo decline code queries.
Error Code | Description |
---|---|
OAuth Errors (Venmo) | |
240 | OAuth2 Exception: … |
241 | Missing argument: … |
244 | Client not found. |
245 | Client has not been approved yet. |
246 | Invalid Scope. |
247 | Invalid Client Secret. |
248 | Invalid Auth Request Key. |
249 | Invalid Response Type. |
250 | Invalid Client ID. |
255 | That Access Code doesn’t belong to you. |
256 | That Access Code has expired. |
257 | That Access Code has already been redeemed for an access token. |
259 | Your OAuth token has been deleted. |
260 | Your OAuth Token is missing a scope. |
261 | You did not pass a valid OAuth access token. |
262 | Your OAuth Token has been revoked. |
265 | Your OAuth token has expired. |
267 | Your app did not pass an OAuth token. |
275 | Could not refresh tokens. |
276 | Grant type is invalid. |
277 | Rate limit exceeded. |
Payments Errors (Venmo) | |
283 | Resource not found. |
1319 | Insufficient funds. … |
1323 | Sorry, that amount is invalid. Please enter an amount higher than $1.00. |
1337 | The minimum card transaction amount with a fee is currently … |
1343 | You must pay/charge a valid phone number, email, or Venmo username. |
1344 | Could not complete transaction because payor’s account is frozen. |
1355 | A transaction must have a note, e.g., “Kale salad with beans, onions, mushrooms, berries, and seeds.” |
1356 | You cannot pay yourself. |
1357 | Take it easy, Bill Gates! That amount is too large. Please choose a smaller amount. |
1360 | You cannot pay or charge the same person the same amount with the same note within 10 minutes. |
1362 | Sorry, we could not complete that transaction because your phone is unverified. |
1363 | Sorry, we could not complete this transaction at this moment because your friend’s phone is unverified. |
1364 | Could not complete this transaction because your account is frozen. |
1365 | Could not complete this transaction because … account is frozen. |
1381 | Slow down there. This may be a duplicate transaction. Please wait a minute and try again. |
13006 | User does not have a funding source selected. |
How To Prevent Venmo Declines
Make Sure You Have Account Up To Date
To prevent declines due to insufficient funds, consider keeping an additional cushion of $50-$100 in your bank account. This extra balance can help cover unexpected discrepancies.
Check Your Connection
Before processing a payment, confirm that you have a stable WiFi or mobile data connection. Closing and reopening the Venmo app can help refresh your connection and resolve any minor issues.
Confirm Recipient Details
Always double-check the accuracy of the recipient’s Venmo username, email, or phone number. If you’re unsure, it’s wise to verify these details with the recipient directly to avoid errors.
Be Mindful of Payment Limits
If you encounter frequent payment declines, consider making smaller transactions while waiting for an increase in your limits. Dividing larger payments into smaller amounts can also help.
Avoid Specific Payment Descriptions
To minimize the risk of your payment being flagged, use generic notes or leave the description blank if you’re unsure. This helps ensure compliance with Venmo’s policies.
Keep Your Account Secure
Safeguard your Venmo PIN to prevent unauthorized access. This precaution can help avoid issues that may lead to legitimate payments being declined.
Monitor Your Transactions Regularly
Stay vigilant by reviewing your transaction history for any unusual activity. Promptly addressing any concerns can help maintain your account’s standing and prevent future payment issues.
By implementing these strategies, you can improve the reliability of your Venmo transactions and enjoy a smoother payment experience.
Alternative Solutions To Venmo If Payment Declines Persist
If you’re looking for alternatives to Venmo, here are five options:
- Cash App: Known for its user-friendly interface, Cash App allows peer-to-peer transfers, Bitcoin trading, and direct deposit features.
- PayPal: A long-standing payment platform, PayPal supports both personal and business transactions, offering buyer protection and international transfers.
- Zelle: Integrated with many banks, Zelle enables fast money transfers directly between bank accounts, making it convenient for users.
- Google Pay: This platform allows users to send money and make purchases using their Google accounts, enhancing convenience for Android users.
- Corepay: If the reason that your payments are declining is related to your industry, reach out to us at Corepay and we can get your business on the right track ASAP.
Looking To Accept Payments For Your Industry Seamlessly?
Choosing Corepay for your payment processing needs offers significant advantages, especially for high-risk merchants. Unlike Venmo, which primarily caters to low-risk transactions and peer-to-peer payments, Corepay is designed specifically for businesses facing challenges in traditional payment processing. We allow for merchant industries often deemed high-risk, such as gaming, travel, and adult services, providing tailored solutions and flexible options.