Is Venmo down?

VENMO users were stumped after they were blocked from logging in and making payments on September 12, 2022.

According to Downdetector, users began reporting issues with Venmo around 12pm EST.

Is Venmo down?

PayPal-owned Venmo was down for users as they began experiencing issues with the app’s payment feature on September 12.

Those looking to login, make payments, or transfer funds were systematically denied, and one person complained: “Just got a notification saying I got charged $25 and didn’t have sufficient funds and now owe them $16. What’s happening?”

At approximately 2.15pm EST a user said they were told the app would be fixed in one to two hours, but added: “They told this to people in this thread over an hour ago, so I am not happy with that answer…”

Users are reporting that their app is now showing that they don’t have money in their account and are getting a 503 error if they try to transfer the funds that are showing up.

According to Downdetector, 45 percent of people say they are having trouble logging on to the app, 37 percent say they aren’t able to make payments, 18 percent say they aren’t able to transfer funds.

What is Venmo and how does it work?

Known as a peer-to-peer payment platform, Venmo is a mobile payment service that is owned by PayPal.

Venmo can be used to send and accept payments to and from people on the app.

In the first quarter of 2018, the service handled over $159 billion in transactions.

Venmo is also used by business to pay freelance employees.

Does Venmo have fees?

There are no fees to sign up for the app and it is completely free to use, however, there are certain transaction fees depending on how you use the app.

Instant Transfer Free

The Instant Transfer Fee is used for users to transfer their money instantly from the app to their bank account.

The fee is either 25 cents or 1% of the total transfer, depending on which number is higher.

There are fee transfer options for users, it just takes 1-3 business days for the money to transfer over.

Credit Card Processing Fees

If users decide to send money from a credit card, they will need to pay a 3% processing fee.

The fee comes from credit card companies, not the app, and instead of Venmo paying it directly, they have users cover the cost.

Merchant Fees

Merchant fees are for those who accept Venmo as a form of payment at a retail location.

Merchants end up paying a transaction fee of 30 cents, added to a 2.9% fee on the transaction total.