I'd like to let everyone know about what happens at Venmo and how VERY INSECURE your money is. On Friday, my 17-year-old daughter’s Venmo account was hacked and drained. $669 was stolen through instant transfer into a bank account that was NOT linked to her Venmo.
By way of a brief background, at 6:48 Friday, she got an email (no text, no call) saying someone was trying to get into her account from an unregistered device. She was not on her email or her phone because she was at work so she did not see this. Within ONE minute (email also time stamped at 6:48), she received another email saying that an instant transfer from her account was completed....to a totally new bank account that the hacker had JUST added. NO FLAGS on Venmo's part. NO temporary freezing of her account to verify the authenticity of the transaction. NOTHING.
The moment she saw (Saturday), we tried to contact Venmo (only available to call M-F) and were forced to "chat" to report the fraud. We were told it would be escalated to an "account specialist" who would review it and email us within 3-5 business days.
Today, feeling impatient and stressed about this, I called Venmo and asked to speak with someone who can handle this situation. I was told that the situation had been sent to an "account specialist" who would review the case and email us within 7-10 business days (up from 3-5 business days stated in the chat). When I said that I would prefer to SPEAK with someone and I would prefer not to wait that long, I was told:
1. Venmo is not allowed to make outgoing calls to customers
2. Venmo account specialists (who apparently solve these issues) do not have phone numbers and are only reachable by email.
Seriously? Venmo is owned by PayPal. This is not some Mom 'n Pop Shop. They have millions of customers and they cannot communicate with their customers who have been defrauded except by email? Unbelievable.
I asked to speak with the supervisor's supervisor and she said she was "the highest level of customer service." I then asked to speak with the security department to express my concerns about how this could happen and help to ensure this doesn't happen to other customers. Again. Brick Wall. I was told nobody is reachable by phone and there is ONE email for Venmo. Wow. That’s some laudable customer service.
I asked why there were no red flags on Venmo's security end when someone logging in from an unregistered device added a completely new bank NOT in my daughter's name and then took all the money out instantly. No answer at first. Then she admitted to me that the Venmo software does not have a way to verify the NAME OF THE PERSON associated with the bank. WHAT?????
This is extremely concerning. I am in the process of writing a strongly-worded letter to Venmo about this situation and about how unbelievably insecure their customers’ money is. At the VERY least, accounts should be frozen when suspicious activity occurs. TEXTS or CALLS (not emails) should be made to verify activity, particularly instant transfers. NO instant transfers should be allowed to accounts other than those ALREADY linked to a customer's account for a period of time. These are so obvious and so simple and I am shocked that Venmo does not have these safety protocols in place.
I'm not sure I will continue to use Venmo at this point. Everyone I know uses it and I want to make sure you all realize how very insecure it is. IF you read this far, thanks for listening. I have no idea if my daughter will even get her money back. This was 100 percent preventable.
If you choose to use Venmo after reading this, make sure to add every ounce of security you possibly can. Facial recognition or fingerprint ID if possible.
1. There is no way to contact support from the app.
2. When using the ‘send a text’ to verify a bank (phone number in account), the text never arrives.
3. I have to go to Venmo on a web browser to submit this and many other problems.
4. When doing the manual bank verify (having two small amounts deposited into bank account), there is no way to enter those amounts in the app. It must be done from my account on their website, which I cannot enter (see 5 below).
5. When I try to log in to my account on their website, it doesn’t not accept my PW even after repeated attempts, browser cache, etc. cleared and updated browser. Same PW works fine in the app. All other PWs on all other websites have no problem, only and solely Venmo has this issue ever since getting an account a year ago. Venmo has repeatedly refused to acknowledge this issue or fix it.
6. When contacting support (only from their website), I get a generic answer that does not help resolve these issues.
7. There is no way to change any account settings in the app.
Account has been frozen for weeks, I’ve sent in credentials that have been asked for and still nothing. Haven’t been able to do business which entails paying people.
I’ve been a Venmo customer since the very beginning. As a matter of fact I was in their offices when they barely started in Chelsea, NY because my friend worked at Venmo. They were great because they kept it simple and sending and receiving money was so easy. But ever since they got sold to PayPal, they’ve gotten so complicated and have really bad customer service – not because of the customer service people- But mainly because they only can help you through chat box or if you call on the phone to fix the problem they can never fix it for some strange reason. My account has been frozen for weeks for absolutely no reason simply for using the app and paying people very small amounts through the app.
I am furious because I have not been able to receive money nor send money. FIX MY ACCOUNT!
Slack customer service, my account has been froze for about 2 months now and I have done everything they asked me to do and sent any information they wanted. I’ve called numerous times and they say they can’t help but they would get a supervisor to return my call and they still haven’t returned any calls or even tried to explain to me why my account has been frozen for 2 months or what to do to get my account unfroze so I can get my money. I am so disappointed and I feel like that is their way of keeping my money and it’s not right nor is it professional. If you use Venmo be careful so it’s not done to you too. They don’t need to continue to do business this way and they need to do something so I can get my money back!
I have been trying to apply for the Venmo Debit Card since February and I could not apply for it. I had a lot of problems with Venmo Account, I chatted with the customer support and they did not help. I had to delete my old account and to make a new one because they could not verify my identity and it was not my fault. They said it was error in their system but I lost a lot of important contacts on Venmo because of that and it did not solve my problem. I still cannot apply for the Venmo Debit Card because they put me in the wait line and it is never my turn.
Venmo is straight trash! Constant error messages that when brought to customer services attention is answered vaguely in a scripted manner 3 days later. As for their debit card... they decided if you can make certain purchases or not, again with no real rhyme or reason they inquire a few days after the fact. If you’ve ever have a problem with PayPal, Venmo won’t work either until resolved. Use with caution and as a last resort.
Horrible customer service from supervisors. Do not care about bringing harm to customers. Will not exhaust all means to resolve a resolvable error that they, their representatives or systems have caused. They are liars and swindlers. Using customers money and access to their bank accounts for their greedy advantages. I will no longer be a customer and Venmo will never have access to my bank account.
They say 3 days max for a transfer into Venmo, but 3.5 days later there’s no money and it’s nowhere to be seen. They took it out of my bank ASAP, and it shows up as totally gone but Venmo doesn’t know where it is. Every single Venmo faq page says 3 days max. Venmo says the money should be in my account already but it’s not. Great, I never should have trusted anything created by fraud rife PayPal.
I’m a small business owner and Venmo made it so easy for me to take payments from potential customers and new clients. They even offered us a free QR package with our very own QR code for customers to easily scan and pay their invoices. I say give them a try way better than the competition and their customer service is second to none the best I’ve dealt with.
Try to transfer money to someone saysLost connection with my bank so then I tried again and it goes through and then I try to different person and then it says the same thing and I send verification codes and they say they’re wrong!!! well how are they wrong when they are the ones you sent me?! So over this app!