Venmo allows you to make payments using a variety of methods including: Venmo balance, bank account, debit card, and credit card. Because your level of protection against unsatisfactory purchases will vary with each method, you should review this page to understand how you can select a payment method and how protection differs depending on your payment method.
This page does not address unauthorized transactions. For information on your protection against unauthorized transactions, please see Section D (11) of the Venmo User Agreement.
BACKUP PAYMENT METHOD
You can choose any of the payment methods in your Venmo account as your backup payment method, which will be used when your Venmo balance is not enough to cover the entire amount of a particular transaction. In those instances, the full transaction amount will be placed on your backup payment method. You can select a backup payment method in your account preferences on www.venmo.com or from within the Venmo app. Note that with respect to the Venmo Card, you may only select your bank account as the backup payment method.
PAYMENT METHOD RIGHTS AND REMEDIES
Authorized Merchant Payment Protection:
Authorized Merchant Payment Protection applies for certain, qualifying purchases regardless of the payment method. For these qualifying purchases, Venmo will cover you for the full amount of the item plus original shipping costs if you do not receive the item or if you receive an item but it is significantly different than the description the seller provided. To receive reimbursement for items that are significantly not as described, you will be required to return the item to the seller, or in some cases to Venmo, and to pay the return shipping costs. Authorized Merchant Payment Protection is only available for purchases made when checking out on a merchant’s app or website using Venmo or when using the Venmo Card to complete a transaction. Protection is not available for payments sent from within the Venmo app or on Venmo.com (including, without limitation, any person-to-person payments sent using Venmo), or any other ineligible purchases.
To be eligible for Authorized Merchant Payment Protection, you must file a claim by contacting Venmo, and meet the eligibility criteria as listed in the Venmo User Agreement.
Credit Card Protection:
You may pursue a claim with Venmo, or you may contact your credit card company and file a chargeback. You may not pursue both at the same time or seek a double recovery. If you have an open claim with Venmo, and also file a chargeback with your credit card company, Venmo will close your claim, and you will have to rely solely on your chargeback rights.
If you pursue a claim with Venmo and if you do not receive a full recovery, you can then file a chargeback.
Credit card companies must abide by these statutory guidelines, including but not limited to the following:
You should contact your credit card issuer to learn more about your rights and remedies.
Debit Card Protection:
Your debit card issuer is not required by law to provide you with protection against items that you do not receive or that are significantly not as described. Many debit card issuers voluntarily provide protection similar to the chargeback rights provided by credit card issuers.
Venmo may process debit card transactions through either (a) an ATM debit network such as STAR or NYCE, or (b) a Visa or MasterCard network. Transactions processed through the Visa / MasterCard network may give you additional protection compared to the ATM debit networks. You should contact your debit card issuer to learn more about your rights and remedies if you pay with your debit card.
Bank Account Protection:
Your bank is not required by law to provide you with protection against items that you pay for with a bank transfer but that you do not receive or that are significantly not as described. You should contact your bank to determine if they voluntarily provide any purchase protection.