Here’s How You Can Save Yourself From Venmon Scammed!
In the digital world, there are plenty of opportunities for scammers from around the globe to get money out of uninformed consumers. Venmo has been a potential platform, among other online payment service platforms, for scammers to scam people of their money.
Venmo is an online payment service that is among one the most popular in the world. Its primary target is friends and family who wish to split the bill among themselves. It is an American company founded in 2008 and acquired by the payment giant PayPal in 2012.
Due to the sheer popularity of Venmo, especially in the United States of America (USA), chances are that if you live in the States, you would have a Venmo account. Due to the popularity, Venmo and the scammers roaming on that platform are of sheer concern.
There are plenty of people who fall prey to these scammers on Venmo or those who accidentally send money to the wrong account or recipient. Let us have a look at what can be done to get your money back. Before that, we need to ask, can Venmo or you even get your money back?
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How to reverse Venmo payment if scammed?
There are cases where you accidentally send money to the wrong person or you are a victim of some scam. Unfortunately, if that’s the case, you cannot reverse the payment, according to Venmo support care.
Once you send out a payment, you cannot reverse it as it is immediately transferred to the recipient and reflected in their account.
However, you can raise this issue to Venmo support care and they can look into your issue independently and see what they can do.
There are only a few exceptional cases where Venmo can reverse the payment back to its sender-
1) The recipient gives explicit permission to Venmo. After having their permission, Venmo gets the right and permission to reverse the payment and give it back to its original sender.
2) Their accounts reflect good standing.
3) They still have the funds available in their Venmo account. If the recipient has not used or spent the money in question, Venmo can reverse the payment in such a few cases.
You can also get your money back if you send the payment to an account that is not yet registered on Venmo either by phone or by email address. Go to the pending payments option and reverse the payment.
You can do this in the following steps –
- Go to the option on top of the screen.
- Go to the ‘incomplete’ option.
- Proceed to the ‘payments’ section.
- Locate the transaction on the payments section you would like to reverse.
- Click on the ‘take back option.
Also, Venmo does have the authority to cancel or reverse payments made by error only when the recipient requests to do it. In the case of a scam, the scammer (recipient) would not want to give the money back to its original sender. So this option is canceled.
Also Check:- How to add cash to Venmo Card at store step by step?
How to reverse a Venmo payment sent accidentally?
Also, if you sent money by mistake, you can simply reach out to them and ask them to transfer you the exact same amount that you sent. This is another hassle-free way of getting your money back. However, you can only use this method in cases of accidental transfer to friends and family.
If you sent the money accidentally to an unknown account, you can again reach out to Venmo support care and ask them to look into your matter.
If the recipient is willing to give you the money back, only then is Venmo able to transfer the payment amount back to you.
In another case, if they still have the money you transferred untouched in their account, they can send the amount in question back to you.
There is one more way of getting your money back. That is, if you send the money to a Venmo account that has not yet been registered on Venmo by email or phone number, you will still be able to see your payment in the ‘pending payment’ option. All you have to do is go to that option and take back your money by reversing the payment transaction.
If you come across a situation where you accidentally sent money to someone you don’t want to, or if you were scammed of your money and the recipient does not want to return the money received, then what to do?
Well, in that case, all you can do is reach out to the Venmo support care team and explain your situation. They shall be able to you but it is not guaranteed. They don’t have the power to reverse the amount back to you as it is not how Venmo’s algorithm works.
When you do tell the team about your issue, be sure to tell them about the recipient’s username and the transaction date along with the phone number, email address, and other details of the intended recipient.
Another option for reversing payments is the iMessage payments. If you did use iMessage to send money via Venmo, you can reverse the payment by following these steps-
- Enter the ‘incomplete’ option of the menu where you will be able to reverse the pending payment.
- Access the payment bubble on your iOS 10 where you will be able to press the ‘incomplete payments’ option. By Doing so, you’ll reach the Venmo app where you’ll reverse the transaction.
There is a lucky option too. If you send a payment and the recipient does not accept it in three days (or seventy-two hours), the payment will automatically be transferred back to you.
Venmo is a safe platform only when you use it safely. In short, it is not possible to reverse any Venmo account which has been sent either by mistake or is an account of fraud.
However, it is possible to stop the payment to any account which is unregistered because the payment has not yet been received by the recipient due to them not being registered on the platform yet.
You can, however, take precautions and save yourself and the hassle and uncertainty that comes with it. Always be extra careful while performing these tasks and double-check all the details you have entered- be it the transaction amount or the transaction ID.
Also, always try to use Venmo only with the people you know. So that if such a case arises, you can directly ask the wrong recipient to return the amount by reversing the payment.
Also, always refrain from using Venmo for online business transaction purposes. There are plenty of scammers floating around the platform.
The only safe merchants are the ones whom Venmo has authorized and verified. If not then, use Venmo only for family and friends – basically your close ones.
Can Venmo be reversed if scammed?
The short answer is, no. You or Venmo simply cannot reverse any payment which is made by your account. If the recipient has not yet registered on Venmo via mobile phone or email address, you have the option to reverse the payment as your money is in the pending payments option.
However, you can decline payment if you receive such a request from strangers. Venmo payments can also be reversed if the recipient gives their due permission. Also, the above can be done if the money is still untouched in their account.
Can Venmo charges be reversed?
No, Venmo charges cannot be reversed unless Venmo takes up the case and the recipient gives due permission. Also, it can be reversed automatically only if a registered user which has mistakenly become the recipient does not accept the payment for three days. Then, in such a case, the payment is automatically reversed and sent back to the original sender.
Can Venmo transactions be canceled?
It is not possible to cancel payment to an existing Venmo account. If you send the payment, it is available to the sender right away and is reflected in their bank account.
Can a Venmo deposit be reversed?
No, a Venmo deposit usually cannot be reversed but it can be if the recipient does not accept the payment in three days, if he reverses the payment or if he is an unregistered user. In these cases, the transaction is reversed.
How long does a Venmo refund take?
A Venmo refund usually depends on the policy of the business you purchased the goods or services from. Once a refund is issued you can usually expect the refund amount to reflect in your account in one to five business days.