Card. The Card gives you the ability to access funds held in the Account associated with it. You must maintain an Account in good standing in order to apply for and maintain a Card. If your Account is closed for any reason, then your Card will be cancelled.
Activation. You must activate the Card and complete the activation process, including setting a Personal Identification Number (“PIN”), before it may be used. Refer to Section 6 (Personal Identification Number) for more details on setting a PIN. You can activate the Card through the Venmo app or as otherwise described in your physical Card carrier. For your security, you will need to provide personal information in order for your identity to be verified and for completion of the activation process.
Your representations and warranties. By activating the Card or by retaining, using or authorizing the use of it, you represent and warrant to us that: (i) you are at least 18 years of age (or older if you reside in a jurisdiction where the majority age is older); (ii) you are a U.S. citizen or legal alien residing in the fifty (50) states of the United States (“U.S.”) or the District of Columbia; (iii) you have provided us with a verifiable U.S. street address (not a P.O. Box); (iv) the personal information you provide to us in connection with the Card is true, correct and complete; (v) you received a copy of this Agreement and agree to be bound by and to comply with its terms; and (vi) you accept the Card.
Using the Card.
Cash Access. With a PIN, the Card may be used to obtain cash at any Automated Teller Machine (“ATM”) in the U.S. displaying the Mastercard®, Cirrus®, PULSE®, or MoneyPass® acceptance marks, subject to the applicable daily cash withdrawal limit. The Card cannot be used at international ATMs. Fees may apply; see Section 5 (Venmo Mastercard Fees) for details. If given the option, select "Checking Account" when using an ATM. MoneyPass Network ATMs are not available in all areas, including the U.S. Virgin Islands (go to www.moneypass.com for a MoneyPass ATM locator). ATM owner-operators may impose their own fees and lower limits on cash withdrawals. All ATM transactions are treated as cash withdrawal transactions and subject to the daily cash withdrawal limit. A PIN may be used at any Point of Sale (“POS”) device, as permissible by a merchant that bears the Maestro® or PULSE® acceptance marks, and subject to the daily purchase limit. Each time you or a Teen Cardholder use the Card, you authorize the Issuer to reduce the record of value available in the applicable Account balance by the amount of the transaction and any applicable fees.
Card Limits. Venmo may, at its discretion, place limits on the number or total dollar value of purchases and/or cash withdrawals that can be made with the Card. You will be notified of any change in the manner provided by applicable law prior to the effective date, and the limits will be able to be viewed on Venmo’s Help Center here. Card limits are subject to periodic review and may be changed based on Account history, activity, and other factors, including but not limited to Card activity. Venmo retains sole discretion to apply and change limits.
Authorization.Your Card may be used to authorize transactions up to the amount of funds available in your Account. Check the amount of funds available in your Account by logging into your Account if you are not sure whether there are enough funds for a transaction. If the amount of any transaction, inclusive of any fees charged by us, PayPal, or by any third party (for example, an individualATM operator) exceeds your Card’s available spending balance, your transaction will be declined. If a transaction occurs that exceeds the record of value available to your Card that we are unable or otherwise fail to decline, you agree to repay the excess amount promptly. We get the final purchase amount once the merchant captures the purchase, which is generally within 1-5 business days after you first swipe your Venmo Card (or after you use the 16-digit card number without presenting it in person, as described in Section 4.6), but it can take up to 30 calendar days. You are responsible for the amount of each transaction once it is authorized.
Split Tender Transactions. Some merchants do not allow split transactions, i.e., where you use the Card as partial payment for goods and services and pay the remainder of the balance with another form of legal tender. If you wish to conduct a split transaction and it is permitted by the merchant, you must tell the merchant to charge to the Card the amount you wish to access using your Card, subject to the amount of funds available in your Venmo Account balance and applicable limits. You must then arrange to pay the difference using another payment method. Some merchants may require payment for the remaining balance in cash. If you fail to inform the merchant that you would like to complete a split transaction prior to using the Card, the Card may be declined.
Authorization Holds. When a Card is used to purchase goods or services or to make a cash back withdrawal transaction, the merchant may attempt to obtain preauthorization for the transaction. If the merchant makes such a request, a “hold” is placed on the Account balance for the amount of the preauthorization request (which may vary in some cases from the amount of the actual purchase, depending on the merchant or purchase type), until the merchant sends the final payment amount, or for up to thirty (30) days, even if you fail to make the purchase. During the hold period, the preauthorized amount in the Account will not be accessible. Neither Venmo nor Issuer will be responsible if any transactions are not completed because of the hold. If the preauthorization request varies from the amount of the actual transaction, the actual transaction amount will be debited from the record of value available in your Account, even if this results in the Account balance becoming negative. You remain responsible for any negative amounts. Please refer to the terms of the Venmo User Agreement between you and PayPal for additional information.
If the Card is used at an automated fuel dispenser (“pay at the pump”), the transaction may be preauthorized for an amount up to $100.00. If the Card is declined, but sufficient funds are available in the Account, the Card should be used to pay for the purchase inside with the cashier.
If the Card is used at a restaurant, a hotel, for a car rental purchase, or for similar purchases, the transaction may be preauthorized for the purchase amount plus up to 20% to ensure there are sufficient funds available to cover tips or incidental expenses incurred.
You do not have the right to stop payment on any purchase or payment transaction originated by use of any Card. You may not make preauthorized regular payments using any Card.
Card Not Present Transactions. If the 16-digit Card number is used without presenting the Card in person (such as for a mail order, telephone, or internet purchase), the legal effect will be the same as if the Card itself was used. For security reasons, the amount or number of such transactions that can be made may be limited. The Card cannot be used for illegal gambling or any other illegal transaction.
Foreign Transactions. The Card may only be used to conduct transactions within the 50 United States, District of Columbia and U.S. Territories (Puerto Rico, Guam, Northern Mariana Islands, the U.S. Virgin Islands, and American Samoa). The Card cannot be used to conduct foreign transactions, including, without limitation, transactions conducted on international merchant websites or mobile applications accessible within the United States.
Account Balance/Periodic Statements Alternative. You are responsible for keeping track of the record of value available through your Account, including any balance in Teen Account(s). Merchants generally will not be able to determine available balance. It is important to know the record of value available through your Account before making any transaction. You may obtain information about the record of value available in an Account by using the Venmo app or visiting the Venmo website. This information, along with a 12-month history of Card transactions, is available by logging into your Venmo Account on www.Venmo.com. You also have a right to obtain a 24-month written history of Card transactions by sending an email to email@example.com or by calling 1-855-204-4090. You will not automatically receive paper statements.
Venmo Mastercard Fees. All fee amounts will be withdrawn from the applicable Account, except where prohibited by law. Any attempted ATM or over the counter withdrawal or cash back withdrawal, including any fees charged by us, Venmo, or by an individual ATM operator, that exceeds your available Venmo Account balance will be declined.• MoneyPass ATM Withdrawal $0.00• ATM Domestic Withdrawal Fee* $2.50 per ATM withdrawal within U.S. (plus any amounts charged by the ATM owner).• Over the Counter Withdrawal Fee $3.00 per signature withdrawal if a signature is required to obtain cash.*If you use an ATM for any transaction, including a balance inquiry, you may be charged a fee by the ATM owner even if you do not complete a withdrawal. This ATM fee is a third-party fee amount assessed by the individual ATM operator only and is not assessed by us. This ATM fee amount will be deducted from your Venmo Account balance.
Personal Identification Number. The PIN is a security code, which is designed to protect the Card against unauthorized use. You choose the PIN when you activate the Card. The PIN provides enhanced security for the Card and may be used when making transactions with the Card. It is your electronic signature. Since the PIN is for security purposes, you should memorize it and it should not be disclosed to anyone. Do not write or keep the PIN with the Card. When entering the PIN, be sure it cannot be observed by others and do not enter the PIN into any terminal that appears to be modified or suspicious. You can change the PIN at any time through the settings on the Venmo app. A temporary hold can be placed on the Card if the PIN has been compromised or if the Card is lost or stolen. Maintaining the security of the PIN and Card (including any Teen Card) is your responsibility. If you believe anyone has gained unauthorized access to the PIN, change the PIN using the Venmo app and contact Customer Service immediately using the contact information found below in Section 19 (Customer Service).
Authorized Transactions. You are responsible for all authorized transactions initiated and fees incurred by use of the Card. If you or a Teen Cardholder permit another person to have access to the Card or Card number, this will be treated as if you authorized such use and you will be liable for all transactions and fees incurred by those persons (including if those persons exceed the authority granted by you or a Teen Cardholder). You are wholly responsible for the use of each Card according to the terms and conditions of this Agreement.
Venmo Teen Cards. You may open a Teen Card to be used by an authorized user under 18 years old (a “Teen Cardholder”) if you have a Venmo Account in good standing and meet the other requirements in this Agreement. While you will be the owner of the Teen Card, you are not required to have a Venmo Card. The Teen Cardholder must be a person at least 13 years of age and less than 18 years of age at the time the Teen Card is opened. Teen Card transactions are funded solely by the balance in a linked Teen Account, and not any other balance you may hold with Venmo. You may open a maximum of five (5) Teen Cards for different Teen Cardholders at any given time, subject to you and the Teen Cardholder meeting eligibility requirements and our or Venmo’s discretion. The Teen Cardholder cannot have more than one Teen Card or Teen Account. A Teen Account can receive funds that you send to it from your Venmo Account and from Direct Deposit, if enrolled. If a Teen Cardholder uses the Venmo app to access a Teen Account, funds may also be received from transactions that add a balance to the Teen Account. You will remain the owner of the Teen Card and Teen Account and are responsible for all Card transactions. You remain liable for any and all usage of all Cards, including all Teen Cards. Teen Cards are subject to the terms and conditions of this Agreement and additional limitations. In addition, Teen Cards will be restricted from transacting with certain merchant category codes. You must notify us to revoke permission for any person you previously authorized as a Teen Cardholder.
Returns and Refunds. If you are entitled to a refund for any reason for goods or services obtained with the Card, you agree to accept credits to the applicable Account for refunds and agree to the refund policy of the merchant. Neither the Issuer nor Venmo is responsible for the delivery, quality, safety, legality or any other aspects of the goods or services purchased from others with the Card. If there is a problem with a purchase made with the Card, or if there is a dispute with the merchant, you must handle it directly with the merchant. Notwithstanding the foregoing, certain Card transactions may be eligible for the Venmo Purchase Protection Program as described in the Venmo User Agreement. See the Venmo User Agreement for additional details.
Card Replacement. If you need to replace any Card for any reason, call 855-204-4090 or send an email to firstname.lastname@example.org to request a replacement (Venmo typically responds to emails within 24 hours). You will be required to provide personal information which may include the 16-digit Card number, your full name and knowledge of the Card transaction history. If you believe the Card has been lost or stolen, you may immediately disable it through the Venmo app. After you have disabled the Card, or if you did not have the Venmo app available, please contact Venmo at 855-204-4090 for further assistance. See Section 13 (Your Liability for Unauthorized Transfers) for more details. Venmo may cancel any Card that has been disabled for sixty (60) calendar days or longer.
Confidentiality. You acknowledge and agree that Issuer and Venmo may, subject to applicable law, share information regarding you, the Teen Cardholder, the Card(s), the Account(s), Card requests and Card transaction activity as necessary to provide customer service, service the Card or any Account, investigate and act on the Card or any Account and/or Card- or Account-related claims and as necessary to comply with applicable law. Information about the Card, any Account, or the transactions made with any of them may be disclosed to third parties:
(1) Where it is necessary for completing transactions; (2) In order to verify the existence and condition of the Card for a third party, such as a merchant;(3) In order to comply with government agency, court order, or other legal, regulatory or administrative reporting requirements;(4) If you consent by giving us your written permission;(5) To our employees, auditors, affiliates, service providers, or attorneys as needed; or(6) Otherwise as necessary to fulfill our obligations under this Agreement.
Our Liability for Failure to Complete Transactions. If the Issuer does not properly complete a transaction from the Card on time or in the correct amount according to this Agreement with you, the Issuer will be liable for your (or any Teen Cardholder's) losses or damages. However, there are some exceptions. The Issuer will not be liable, for instance:
(1) If through no fault of the Issuer, there are not have enough funds available to complete the transaction;(2) If a merchant refuses to accept the Card;(3) If an ATM where a cash withdrawal is being made does not have enough cash;(4) If an electronic terminal where a transaction is being conducted does not operate properly, and you knew about the problem when you initiated the transaction;(5) If access to the Card has been blocked after the Card has been reported lost or stolen;(6) If there is a hold or funds in any Account are subject to legal or administrative process or other encumbrance restricting their use;(7) If your Account is closed or no longer in good standing;(8) If the Issuer has reason to believe the requested transaction is unauthorized;(9) If circumstances beyond the Issuer’s control (such as fire, flood, or computer or communication failure) prevent the completion of the transaction, despite reasonable precautions that the Issuer has taken; or(10) Any other exception stated in the Issuer’s Agreement with you.
Your Liability for Unauthorized Transfers.
If you believe the Card has been lost or stolen or otherwise compromised, immediately disable it through the Venmo app and contact Venmo (you may also reenable the Card using the Venmo app. Venmo may cancel any Card that has been disabled for sixty (60) calendar days or longer.). Telephoning is the best way to minimize possible losses. If you believe the Card has been lost or stolen, or that someone has used your Card without permission, call 855-204-4090. You may also email Venmo at email@example.com. We may suspend or cancel the Card and/or corresponding Account in the event of excessive reports of Card loss or theft. Under Mastercard Rules, you will not be held responsible for unauthorized transactions if you have used reasonable care in protecting the Card from loss or theft and you have promptly reported to Venmo when you knew that the Card was lost, stolen or used without your permission. Zero Liability does not apply to Mastercard payment cards that are used for commercial purposes, or anonymous prepaid cards (until such time as the identity of the cardholder has been registered with us). In the event that Mastercard Zero Liability does not apply, if you notify Venmo within two (2) business days after you learn of any unauthorized transactions, you can lose no more than $50.00 if someone used the Card without permission. If you do not notify Venmo within two (2) business days after you learn of the loss, theft or compromise of the Card and Venmo can prove that we could have stopped someone from using the Card without your permission if you had promptly notified Venmo, you could lose as much as $500.00.
Also, if you become aware of and/or your statement shows transactions you or any Teen Cardholder did not make, notify Venmo at once following the procedures stated in Section 17 (Information About Your Right to Dispute Errors). If you do not notify Venmo within sixty (60) days after you become aware of the transaction and/or after the statement was made available to you, you may not get back any value lost after the sixty (60) days if Venmo can prove that we could have stopped someone from taking the value if you had notified Venmo in time. If a good reason (such as a long trip or hospital stay) kept you from notifying Venmo, Venmo will extend the time periods. If the Card has been lost, stolen or compromised, the Card will be blocked to keep losses down and a replacement card will be sent to you.
Right to Receipts. You should get a receipt at the time you make a transaction with the Card. You may need to retain receipts in order to verify or reconcile your transactions.
Other Miscellaneous Terms. The Card and your obligations under this Agreement may not be assigned. The Issuer may transfer its rights under this Agreement. Use of the Card is subject to all applicable rules and customs of any clearinghouse or other association involved in transactions. The Issuer does not waive its rights by delaying or failing to exercise them at any time. If any provision of this Agreement shall be determined to be invalid or unenforceable under any rule, law, or regulation of any governmental agency, local, state, or federal, the validity or enforceability of any other provision of this Agreement shall not be affected. This Agreement will be governed by the law of the State of Delaware except to the extent governed by federal law.
Amendment and Cancellation. The terms and conditions of this Agreement may be revised by posting a revised version at https://venmo.com/legal/bancorp-cardholder-agreement. You will be notified of any change in the manner provided by applicable law prior to the effective date of the change. However, if the change is made for security purposes, the Issuer or Venmo can implement such change without prior notice. The Issuer or Venmo may cancel or suspend the Card or this Agreement at any time. You may cancel this Agreement by returning the Card(s) to the Issuer. Your termination of this Agreement will not affect any of the Issuer’s or Venmo’s rights or your obligations arising under this Agreement prior to termination. In the event the Card is cancelled, closed or terminated for any reason, any remaining available funds associated with the Card would revert to the applicable Account balance.
Information About Your Right to Dispute Errors.
Protection for Unauthorized Transactions and Other Errors. When an unauthorized transaction or other error occurs, including unauthorized transactions that occur because the Card has been lost or stolen, Venmo will cover you for the full amount of every eligible unauthorized transaction or other error as long as you follow the procedures discussed in Section 17.2 (Notification Requirements) or the Venmo User Agreement, as appropriate.An “Unauthorized Transaction” is an error that occurs when funds are sent without your (or a Teen Cardholder's) authorization and/or you (or your Teen Cardholder) did not benefit from the transaction. For example, if someone steals the Card and PIN, and makes a withdrawal with the Card, an Unauthorized Transaction has occurred. If you or a Teen Cardholder give the Card to a person with permission to use it, you are responsible for all transactions conducted by the person even if they make more transactions than you or a Teen Cardholder authorized, unless you notified Venmo that transactions by that person are no longer authorized.“Other Errors” occur when funds are either incorrectly debited or incorrectly credited, or when transactions are incorrectly posted. Other Errors covered by Venmo are limited to the following: if you make a payment and it is incorrectly debited; if an incorrect amount is credited; if a transaction is missing from or not properly identified in the Venmo Account statement; if you receive an incorrect amount of money at an ATM; or if there is a computational or mathematical error by Venmo.You may request documentation or information regarding the Account or a transaction(s) to determine whether an Unauthorized Transaction or Other Error exists by contacting Venmo at firstname.lastname@example.org or calling 855-204-4090.
Notification Requirements. In case of Unauthorized Transactions, Other Errors, or questions about your electronic transactions, call 855-204-4090 or write to: Venmo Debit Card Support, P.O. Box 45950, Omaha, NE 68145-0950, if you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement or receipt. The Issuer must allow you to report an error until sixty (60) days after the earlier of the date you electronically access the Venmo Account, if the error could be viewed in your electronic history, or the date the Issuer sent the FIRST written history on which the error appeared. You may request a written history of your transactions at any time by calling 855-204-4090 or writing to Venmo Debit Card Support, P.O. Box 45950, Omaha, NE 68145-0950. You will need to provide:
(1) Your name and the Card number
(2) Why you believe there is an Unauthorized Transaction or Other Error, and the dollar amount involved
(3) Approximately when the Unauthorized Transaction or Other Error took place.If you provide this information orally, Venmo or the Issuer may require that you send your complaint or question in writing within ten (10) business days.Venmo will determine whether an error occurred within ten (10) business days after it hears from you and will correct any error promptly. If Venmo needs more time, however, Venmo may take up to forty-five (45) days to investigate your complaint or question. If Venmo decides to do this, Venmo will credit the Card within ten (10) business days for the amount you think is in error and increase the record of value available in your Account, so that the money will be accessible during the time it takes to complete the investigation. If Venmo asks you to put your complaint or question in writing and you do not provide it within ten (10) business days, Venmo may not credit the Card.For errors involving new Cards, POS transactions, or foreign-initiated transactions, Venmo may take up to ninety (90) days to investigate your complaint or question. For new Cards or Accounts, Venmo may take up to twenty (20) business days to credit the Account for the amount you think is in error.Venmo will tell you the results within three (3) business days after completing the investigation. If Venmo decides that there was no error, Venmo will send you a written explanation. Copies of the documents used in the investigation may be obtained by contacting Venmo at the phone number or address listed at the beginning of this section. If you need more information about Venmo’s error-resolution procedures, call 855-204-4090 during the hours listed below in Section 19 (Customer Service).
Processing Errors. Venmo will rectify any processing error Venmo discovers. If the error results in your receipt of less than the correct amount to which you are entitled, the applicable Card will be credited for the difference and the record of value available in your Account will be increased. If the error results in your receipt of more than the correct amount, the extra amount will be debited from the applicable Card and the record of value available in your Account will be reduced. If the error resulted in Venmo not completing a transaction on time or in the correct amount, Venmo will be liable for your losses or damages directly caused by this failure, unless: (a) through no fault of Venmo’s, there were not enough available funds to complete the transaction, (b) Venmo’s system was not working properly and the breakdown was known when the transaction started, or (c) circumstances beyond Venmo’s control (such as fire, flood or loss of Internet connection) prevented the transaction, despite Venmo’s reasonable precautions. For other protections that may be applicable to transactions made with an Account, please see the Venmo User Agreement.
English Language Controls. Any translation of this Agreement is provided for convenience. The meanings of the terms, conditions and representations herein are subject to definitions and interpretations in the English language. Any translation provided may not accurately represent the information in the original English text.
Customer Service. For customer service or additional information regarding the Card, please contact:Venmo Debit Card Support, P.O. Box 45950, Omaha, NE 68145-0950 Card support number: 855-204-4090Customer Service agents are available to answer calls Monday-Friday 9:00 AM-5:00 PM Central Time (holidays excluded).Venmo chat and email support are available Monday through Friday 24 hours a day and Saturday and Sunday 8:00 AM-10:00 PM Central Time. Venmo typically responds to emails within 24 hours.
Telephone Monitoring/Recording. From time to time telephone calls between you and Venmo may be monitored and/or recorded to assure the quality of customer service or as required by applicable law.
Arbitration. Any claim, dispute, or controversy (“Claim”) arising out of or relating in any way to:i) this Agreement; ii) the Card; iii) acquisition of the Card; iv) your or your Teen Cardholder's use of the Card; v) the amount of funds available through an Account; vi) advertisements, promotions or oral or written statements related to the Card, as well as goods or services purchased with the Card; vii) the benefits and services related to the Card; or viii) transactions on the Card, no matter how described, pleaded or styled, shall be FINALLY and EXCLUSIVELY resolved by binding individual arbitration conducted by the American Arbitration Association (“AAA”) under its Consumer Arbitration Rules. If this section conflicts in any way with the “Agreement to Arbitrate” section of the Venmo User Agreement, this section will control with respect to any Claim. This arbitration agreement is made pursuant to a transaction involving interstate commerce, and shall be governed by the Federal Arbitration Act (9 U.S.C. 1-16).The Issuer will pay the initial filing fee to commence arbitration and any arbitration hearing that you attend shall take place in the federal judicial district of your residence.ARBITRATION OF YOUR CLAIM IS MANDATORY AND BINDING. NEITHER PARTY WILL HAVE THE RIGHT TO LITIGATE THAT CLAIM THROUGH A COURT. IN ARBITRATION, NEITHER PARTY WILL HAVE THE RIGHT TO A JURY TRIAL OR TO ENGAGE IN DISCOVERY, EXCEPT AS PROVIDED FOR IN THE AAA CODE OF PROCEDURE.For a copy of the procedures, to file a Claim or for other information about the AAA, contact: AAA, 335 Madison Avenue, New York, NY 10017 or at www.adr.org.All determinations as to the scope, interpretation, enforceability and validity of this Agreement shall be made final exclusively by the arbitrator, which award shall be binding and final. Judgment on the arbitration award may be entered in any court having jurisdiction.NO CLASS ACTION, OR OTHER REPRESENTATIVE ACTION OR PRIVATE ATTORNEY GENERAL ACTION OR JOINDER OR CONSOLIDATION OF ANY CLAIM WITH A CLAIM OF ANOTHER PERSON OR CLASS OF CLAIMANTS SHALL BE ALLOWABLE.This arbitration provision shall survive: i) the termination of the Agreement; ii) the bankruptcy of any party; iii) any transfer, sale or assignment of the Card, or any amounts owed on an Account, to any other person or entity; or iv) expiration of the Card. If any portion of this arbitration provision is deemed invalid or unenforceable, the remaining portions shall remain in force.IF YOU DO NOT AGREE TO THE TERMS OF THIS ARBITRATION AGREEMENT, DO NOT ACTIVATE OR USE (OR ALLOW ACTIVATION OR USE OF) THE CARD, OR IF IT HAS ALREADY BEEN ACTIVATED, CANCEL IT. YOU MAY CANCEL THE CARD BY CALLING CUSTOMER SERVICE AT 855-204-4090.
The Venmo Mastercard® is issued by The Bancorp Bank, N.A., pursuant to a license by Mastercard International Incorporated. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. The Card is a debit card linked to your Venmo account and is not a credit card. The Card may be used everywhere Mastercard is accepted in the United States. The Bancorp Bank, N.A. is issuer of the Card only and not responsible for the associated accounts or other products, services, or offers from Venmo.