There are a few things worse than your Venmo card not letting you withdraw money for a necessary transaction. Continue reading to learn why that’s happening.
As a Venmo user, you might find your Venmo card a convenient payment method, at least until it won’t let you withdraw funds anymore. But why does that happen?
Put simply, the main reasons you’re unable and Venmo doesn’t allow you to withdraw your funds are that:
- You haven’t verified your identity
- You’re outside of the U.S.
- You don’t have enough funds
- You’ve exceeded the $400 daily withdrawal limit
- Venmo has frozen your account for security purposes
But what can you do to resolve these issues? How can you get Venmo to unfreeze your account? We’ll answer these questions and more in our article.
READ: How To Fix “Sorry This Instant Transfer Cannot Be Completed Venmo” Error”?
Can I Use a Venmo Card at an ATM?
Yes, you can use your Venmo debit card to withdraw cash in the U.S. If the ATM has the acceptance marks of PULSE®, Mastercard®, Cirrus®, or MoneyPass®, you’re good. But you’ll need to enter your Venmo debit card PIN.
Tip: If you’ve forgotten the PIN, you can reset it in the app. Just go to the Venmo debit card under “Settings.”
As for the associated fees, you may be required to pay ATM owner fees. There’s also a domestic ATM withdrawal fee of $2.50. But if you use the MoneyPass ATM, you can withdraw funds for free.
Moving on, you can use Venmo credit cards at ATMs anywhere visa credit cards are accepted. We won’t delve too deep into the terms and conditions, but we’ll say that there’s a 5% or $10.00 transaction fee (depending on which value is greater).
Reasons You Can’t Use Your Venmo Card at an ATM
Below, we’ll detail each reason and how you can overcome it.
1. No Identity Verification
You may be unable to use your Venmo card to make payments or withdraw funds without verifying your identity.
After all, Venmo is required by federal law to collect information, including your name, address, birth date, SSN, and more. Also, Venmo might ask for a copy of your driver’s license and other documents. So, complete your card verification to use the card!
2. User Location
Your location might be an issue if you’re outside U.S territories because Venmo cards are only valid nationally. After all, Venmo is only available for use in the U.S, so you’ll want to have other payment methods if you’re going out of the country, such as regular credit or debit cards.
3. No Sufficient Funds
A straightforward reason you may be unable to withdraw money is that your Venmo balance doesn’t have enough funds. So, you’ll need to transfer funds to your account.
Since Venmo debit cards are prepaid, they need funds to facilitate cash withdrawals. But what if you have the reload feature enabled? Since this feature is specific to transactions, Venmo won’t recharge your balance for a cash withdrawal. Accordingly, the withdrawal attempt won’t succeed.
4. Exceeding the Withdrawal Limit
You can only withdraw a total of $400 every day. So, if you already have, your card won’t withdraw more funds. Still, $400 is a great limit when you consider that it’s only $300 for some banks.
5. Security Threats
Venmo can choose to freeze a user’s account due to a failed payment, fraudulent activity, or other account activity that violates its user agreement and credit card policies. The goal here is to maintain a high level of security and protect users.
If Venmo has frozen your account due to an unpaid transaction, you can simply pay back the amount. Once Venmo receives your payment, it’ll reinstate your account.
Otherwise, you’ll have to contract Venmo via its email: firstname.lastname@example.org. That’s because there’s no way you can personally unfreeze your account.
Overall, there are many scenarios in which your Venmo card may be unable to withdraw funds, such as if you aren’t in the country.
Otherwise, your account may be frozen because there has been some fraudulent activity or you haven’t verified your identity. Also, you may have already withdrawn the $400 daily limit or don’t have enough funds in your Venmo balance.
Now that you’ve pinpointed the route of the problem, you can fix it and get your hard-earned cash out of the ATM!