Back in July 2021, my Venmo account got hacked. I woke up to my bank account being overdrafted by nearly $6600. Thankfully, I had a separate debit card for weekend spending, and I hadn’t transferred any money from my main account yet, so it only had $5 left when the charges went through. I noticed the charges were from Venmo, so I tried logging into my account but couldn’t access it. I contacted both my bank and Venmo. Venmo said someone changed my email and phone number before sending out the money. I filed a police report, and my bank reversed the charges. I sent the police report to Venmo, but they refused to give me any details because my email and phone number were different. I closed my bank accounts out of caution. They told me I could no longer use Venmo, so my account was suspended. For the past three years, I haven’t used Venmo. This week, my friend accidentally sent me money via Venmo, and I received a text saying I had received a payment. I was confused because I couldn’t access my account. When I tried to log in, I saw my account was paused, but I couldn’t see the money my friend sent. She canceled the payment, and I had her pay me through another method. I reached out to Venmo to close my account since I can’t access it, and they replied saying I owe $6600 and need to pay it to close my account. I’ve resubmitted the police report and explained the charges were reversed in 2021. Venmo’s offices are closed, so I’m waiting for a response. My old bank can send me the statements showing the charges were reversed, but they can’t update my address since the account is closed. I have to wait until Monday to get the statements in person. What should I do to resolve this? Could this show up on my credit report?
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Proving the bank reversed the charges does sort of back up Venmo’s claim that you owe them. They’re a terrible, insecure platform. I don’t know how they’re still so popular.
DanBurn said:
Proving the bank reversed the charges does sort of back up Venmo’s claim that you owe them. They’re a terrible, insecure platform. I don’t know how they’re still so popular.
It’s just PayPal rebranded. Same issues.
DanBurn said:
Proving the bank reversed the charges does sort of back up Venmo’s claim that you owe them. They’re a terrible, insecure platform. I don’t know how they’re still so popular.
Cash App has similar problems too.
You can’t force Venmo to agree that you don’t owe them money, if that’s what you’re hoping. But, so what? If they don’t report this to your credit or try to sue you (which they probably won’t because they have a weak case), it doesn’t really matter. If it shows up on your credit report, you can dispute it. If you ever get a lawsuit, get a lawyer. Otherwise, just keep not using Venmo.
@MichaelAiden3
Thanks for the advice!
I had a similar situation with Venmo, where I was scammed on concert tickets. I paid through Venmo but didn’t get the tickets. Since it was a weekend, I managed to stop the payment through my bank. But, Venmo already paid out the scammer, and they refused to take the money back. In the end, Venmo said I owed them $77, but it never affected my credit or went to collections.
@smart1
Thanks, this makes me feel a little better about the situation.
Maybe you should use paragraph breaks. It’s hard to read all at once.
Go to the office on Monday with all your paperwork and resolve it there. That’s about all you can do right now. At least you’ll know it’s finished then.
ConArtistConqueror4 said:
Go to the office on Monday with all your paperwork and resolve it there. That’s about all you can do right now. At least you’ll know it’s finished then.
It’s already resolved with my bank. It’s Venmo claiming I owe them money.
@Flippa
Venmo will probably just keep saying you owe them $6600, and unless you pay, they won’t close your account. I don’t think they’ll disconnect your phone number or email, so no one will accidentally send money to that account.
So, you got the charges reversed with your bank and sent Venmo a police report, but did you ever go through a formal dispute process with Venmo where they sided with you and removed the charges?
Sadie said:
So, you got the charges reversed with your bank and sent Venmo a police report, but did you ever go through a formal dispute process with Venmo where they sided with you and removed the charges?
Yes, that’s why I was confused when I got the text saying I received money. I think they switched my phone number and email back in the last 3 years, but I never had access to my account after the hack.
You may have passed the statute of limitations for Venmo to pursue the debt. I’m not a lawyer, but it could be worth consulting one before you contact them again. You don’t want to accidentally reset the clock on the issue.