Can I cancel a Venmo payment?
Unfortunately, No. Yu can’t cancel a Venmo payment once it’s made. Nevertheless, you can request back your money if you sent a payment to a wrong user account or made a duplicate payment.
Introduction
Venmo is a very popular digital banking sector in the US.
With Venmo, you can easily send and receive money. Many US residents use Venmo for transaction purposes. In 2021 Venmo made it public, giving some selected users the privilege to trade Cryptocurrencies on the app.
When it comes to the number 1 peer-to-peer transaction platform in the US, Venmo stands out. However, you might want to cancel a payment on Venmo. Maybe you made a wrong payment, If such is the case, don’t panic. The good news is, you can request your money back.
Though there’s no direct payment cancel button on the app, as you read through, you’ll learn how to request back your money, and all related issues you need to know about Venmo payment cancellation.
How to cancel a Venmo payment
Once payment is made on Venmo to an existing Venmo account, it cannot be cancelled. Venmo payments are instant, the recipient receives funds immediately after the payment is completed.
However, you can reach out to the receiver and request a return. You need to politely explain to the recipient and ask for the return of the exact amount you sent. Immediately after you receive the money, you can move the funds from your Venmo account to your bank account.
Again, if you made a double payment you can request a return for one of the payments.
Before Venmo can reverse a payment,
- The recipient must permit Venmo.
- Their Venmo account is up and running with good records.
- The fund is still available in their Venmo account.
Note: your request as a sender for a reverse payment on Venmo is not guaranteed unless the recipient permits them.
What to do if you send a Venmo Payment to a Wrong Person.
If you mistakenly sent a payment to the wrong Venmo account, you can request the money back from the recipient.
If you’ve to explain everything, how and why you made the mistake or apologise to the recipient, please do it. You might be lucky and get back your money without contacting Venmo.
But if it didn’t work that way, you can use this provided method to request your money back.
- Open your Venmo app
- Locate the “Pay or Request” tab at the bottom of the home screen
- Enter the recipient username the money was mistakenly sent to
- Enter the exact amount of money that was accidentally sent
- Write a short note and explain what brought the accidental payment
- Click “Request” to continue
- Finally, click on the green message that just prompted you to confirm your request.
In case the person is delaying paying back the money, you can remind them by following these steps.
- Open your Venmo app and click on the three dots “°°°” at the top right corner
- Click on “Incomplete”
- Select the incomplete transaction you’re requesting for a refund, under the “Request” tab and click on the “Remind” icon, under the request section
- Finally, once your request went successful, a message that displays “Reminded” will show.
What to do if you made a double/duplicated payment
If you make any duplicated payment/transfer to an existing Venmo account, you can request for a refund by following the same process above.
The good news is, there are more chances of getting the funds back hence you sent to someone you know.
How To Cancel a Venmo Payment to a Non-Existing Account.
If you accidentally sent money to a non-existing account on Venmo, you can have it back.
Note: the type of incomplete payment that can be claimed back are ones made to a nonexisting phone number or email address on Venmo.
However if you find yourself in this situation, you can take the money back. To do so,
- Open your Venmo app and locate the “Me” button
- Click on the “Incomplete” tab
- Tap on the “Payment” icon
- Select the payment you want to cancel or take back
- Finally, click on “Take Back”.
Note: you can reach out to Venmo Contact us page if you transfer money to the wrong person, or suspect any fraudulent actions.
What To Do If You have a Pending Payment on Venmo
If you send some funds to a phone number or email address that’s not yet verified on Venmo, you don’t need to worry. For any “Pending” payment on Venmo, you can claim it back by accessing the “Pending” section. This post will tell you all to know about pending payment on Venmo.
How to contact Venmo if your payment is not Returned?
In some cases, the recipient might refuse to return the money. If you encounter this, you can reach out to Venmo Contact Support Team and lay your complaint.
Note: Venmo will only try to help return your money, it’s not guaranteed.
Follow these steps to contact Venmo support team
- Open your Venmo app and click on the support page, select the one that corresponds with your case
- You then enter your personal information required by Venmo like your Email address, Phone number, Full name, and other necessary things
- Explain to them what happened using the “Tell Us What’s Up” space provided
- Provide the recipient username, the amount of money transferred, Date the payment was made. You can screenshot the payment as well if you want
- Finally, tap “Submit” to complete your request
FAQs
Can You Cancel a Venmo Bank Transfer?
It’s not 100% guaranteed. If you want to cancel a standard bank transfer on Venmo. However, if you are lucky enough, it can be cancelled if you reach out to the Venmo Support team. They can help cancel the payment only if your transfer’s batch hasn’t been issued yet.
Can I Decline a Venmo Payment?
It’s not possible to decline payment on Venmo. As I stated earlier Venmo payments reflect immediately to the destination account, so it is impossible to decline payment.
The only thing you can decline on Venmo is a “Payment Request” from a stranger, but the payment itself can’t be declined.
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Conclusion
From what we’ve discussed so far in this article, I believe you’ve learned how to request a payment sent to the wrong person. And the steps to follow when contacting the Venmo support team for assistance.
You can drop a comment on the section if you encounter any difficulty following these steps.