Venmo lost connection with the bank is quite a common issue that Venmo users can face. In this guide, we will walk you through all the potential reasons for encountering this issue and how you can fix it in a few easy steps!
Venmo Lost Connection with Bank
Venmo, being an online financial institute, can be quite vulnerable to various glitches and errors. It has been a while since people have started to report the issues with Venmo specifically stating Venmo lost connection with the bank.
As we know, to send and receive money through Venmo, it is a prerequisite to have your bank account linked to it. With this error percolating, it can become annoying to make payments through this channel.
While the focal issue here remains about the connectivity issue, there is still an equal possibility and room for some additional factors. We will be shedding some light on possible explanations for why you are seeing Venmo lose connection with bank errors.
Before we begin, note that you can get money from Venmo without bank or debit card but in order to make instant transfers or avail loan services, etc. you need to have a linked bank account.
1. Changes in Banking Credentials
One of the possible reasons you are facing this error can be if you recently changed your banking account details. These could include either your banking username and password, in addition to changes in contact details and email address.
When creating an account at Venmo, you provide certain contact information to help identify your banking credentials too. Now when you make changes to pre-existing details, Venmo doesn’t recognize it hence leading to the disconnection of your bank account.
Various banks require the customers to change their credentials to maximize safety. It is only done to prevent any fraud or potential invasion of your account’s security.
2. Security Issues
Another possible reason that your bank account got disconnected from Venmo can be due to the security follow-up. These are performed from the end of your payment platforms if someone tries to intrude on your account.
It can happen if someone else, other than you try to log in to your account from another device using your credentials. This multiple log-in alerts the security system of Venmo resulting in the disconnection of the bank account to protect it from further threats.
3. Using Old Version of Venmo App
Software updates should be done regularly to speed up your connections. Outdated apps can be a cause of several glitches too when they do not support certain features. Venmo loss connection with a bank can be one of the potential outcomes of the old Venmo app.
Updating the applications isn’t laborious at all. Just go to the respective app on your Play Store or App Store to check whether it requires an update or not.
4. Changing Banking Multi-Factor Authentication Settings
Changing the banking Multi-Factor Authentication settings is yet another reason for Venmo’s lost connection with the bank. It is similar to that of the security check-up since Venmo detects any changes you make in the security settings of your online banking.
5. Connectivity Issues Between the Venmo and Bank
Connectivity issues can be one of the prime reasons for your bank account getting disconnected from the Venmo app. Servers connected to such institutes carry a lot of load, making them prone to connection issues and other hindrances.
Now there is a fair possibility that the connection error might have occurred from your end rather than the app or bank.
Therefore, before panicking, it would be best to restart your internet device or reset your mobile to rule out any such possibility. If, after doing this, the issue still pertains, you can get in touch with the customer support service or try using the web version once before proceeding further.
How to Fix Venmo Lost Connection with Bank?
Fixing Venmo lost connection error isn’t a big deal and should be done as soon as you experience it. It is likely that below mentioned corrective measures would solve the issue, but if not, your last resort should be to contact the customer support service.
1. Check Your Internet Connection
Before snapping on the Venmo app or your respective bank, it is important that you make things clear at your end first. Checking your internet availability should be the first and foremost step before doing anything else.
Whether restart your Wi-Fi device or change your server to get the strongest internet connection and let the app work accordingly. Use various other applications on the same internet and if there is no delay then you have a secure internet connection.
2. Update the App
Updating the app can also solve the existing problem since it happens in various cases where people aren’t aware that they are still using the outdated version. Head over to the settings and see whether there is an update required or not.
Venmo’s old version has slightly different features and navigation tools. Therefore, keep looking for the updates if you haven’t set your phone to automatic updates. You can also uninstall and reinstall the app to make it work.
3. Verify the Banking Credentials
As we have discussed earlier that on changing the banking credentials your bank account is going to disconnect from Venmo. So, if you have made changes to any of your banking credentials, please keep in mind that you’ll have to reconnect to the bank account.
Double-check your banking details as most of the banks require their clients to update their online banking accreditations. All you need to do here is add the bank account again to the Venmo app with your new credentials. It would start working normally. Also, make sure you are proceeding with a valid transfer. For example, Venmo does not support international transactions and you will not be able to verify foreign bank details here.
4. Re-add your Bank Account to Venmo
Removing your bank account from Venmo manually should be your preferred choice before contacting the customer support service. Here is how you can do it to overcome the existing error.
To remove your account please follow the steps mentioned below.
- Go to the Venmo app. Click on Settings from there.
- Next, go to the Payment Methods.
- From here, select the bank account you are facing any issue with.
- Lastly, remove the account from there and confirm.
To re-add your account to Venmo please follow the steps mentioned below.
- Go to the Venmo app after removing the previous bank account.
- Next, go to Settings from there.
- Click on the option of Payment Methods.
- Next, select Add a Bank or Card, followed by selecting the Bank option.
- Fill in your bank credentials correctly.
- Lastly, choose your method of verification to start using Venmo linked to your bank account again.
The verification of your account can be done in two possible ways i.e., Microtransfers and Instant Verification. Microtransfers can take more time than Instant ones. Moreover, you are bound to pay at least $2 for the bank account verification.
Contact Customer Support Service
Once you have tried every corrective measure, your last option should be to get in touch with customer support at Venmo. Kindly make them aware of the current issue and what you have already tried to fix it. They may request you to delete the account and reinstall app or any other measure as per need.
Venmo has an agile customer support service to guide you through every problem. However, you have to be transparent with them regarding every detail. They can then guide you to the best of their abilities.
They might as well ask you to contact your bank’s helping desk or customer service if they are unable to track the issue from their end. Manage your way accordingly and get the help of both the concerned authorities involved in the said issue.
Before You Go!
Sending and receiving money through Venmo has been quite a breather for people around the United States. Online banking platforms are likely to be prone to such errors which can cause hindrance in the payment processes.
Whenever you face this error ever again, please don’t panic and make use of your best judgment here. Track everything at your end, first of which should be checking your internet connection, followed by a few other steps to get rid of Venmo’s lost connection with bank error.
Miriam Caldwell is a dedicated & expert freelance writer to educate people about personal finance management and budgeting. She shared her knowledge and published the articles at TheBalance.com, GOBankingRates, and BlissfullyDomestic.com. Many financial institutes pick Caldwell as the brilliant source for educational personal finance content.