The Absolute Worst

If you do not like having your money held up in unending delays, non-stop verifications, and what seems like just plain old scamming tricks, then do NOT sign up for this service. I was floored as to the way I was treated by this company when initiating a $450 transfer to a friend of mine who was short funds to pay his rent. Venmo held my money for over 3 weeks, stating they needed to ‘verify’ the validity of my account as to meeting their ‘Terms of Service’ - which they ultimately determined did meet those terms. I have filed complaints with the CFPB and the OCC, and hope they take action. If any regular bank treated my funds the way this service treated my funds - multiplied by the thousands of consumers who I am sure have had the sane experience - they no doubt would be under a federal investigation. There cannot possibly be any way that what Venmo did/does was/is legal. Stay away from this service if you do not want your funds going into some sort of financial black hole, when you least expect it. And if it does happen, forget about talking to a customer service rep, they will only ‘deal’ with you via email, which only drags out their ‘verification’ process. Yeah, I realize that this is the trendy way to send cash, but stick with your bank. Most banks offer similar free services to transfer funds to others. The Venmo service should be shut down by banking regulators, and I am going to push to make that happen. You deserve better than what this service offers.

ThomasMurrayJr - SanFran about Venmo, v7.14.3