Are you searching for answers to why your Venmo lost connection with Bank all of a sudden? Well then, it’s your lucky day. Walkthrough this entire write-up, and you’ll know why.
Venmo Lost Connection With Bank, What’s the Issue Like?
Venmo losing connection with the Bank is an issue that can correspond to many situations like a faulty server, outdated app, alteration in the bank credentials, and more. Luckily, seeing yourself out of trouble isn’t challenging either.
With an excellently working structure, Venmo has helped users all over the US to make p2p financial transactions easily on a daily basis. However, following the glitches and bugs, sometimes the cushion takes a few moments to disappear. Losing a connection with the bank is one of those.
Venmo lost connection with Bank, as the name tells, is an issue where your Venmo loses connection with the bank, and you face problems while proceeding with financial transactions. Now, the reasons for this issue can be many, but fortunately, there are as many solutions available too.
Reasons Why Your Venmo Lost Connection With Bank
There can be a few reasons why your Venmo lost connection with Bank- such as using an outdated app, changing banking credentials, connection issues, etc.
So, here are the possible reasons for the issue.
1. Connection Issues
Connection issues are one of the most common reasons for the Venmo lost connection with Bank plaid error. Sometimes the Venmo servers and your bank servers may have connection issues, resulting in the disconnection of your bank account with the Venmo app.
Solution – Check Your Internet
Try using other apps on the same internet to check if it’s the Venmo server’s fault or your internet connection’s fault.
Also, try switching from data to WiFi connection or any other connection available. And in case the issue continues, try to use the website from your computer as your phone might be at fault.
2. Security Issues
The “Venmo lost connection with bank plaid” issue may also occur due to several security issues – such as you are logging into your account from multiple devices, someone else is trying to get access to your account, etc.
3. Using an Old Version of the Venmo App
If you are using an outdated version of the Venmo app, any issue and problem could occur. So, to avoid the Venmo lost connection with bank issue, you should update your app to the latest version.
Solution – Update the App
Your phone automatically updates the installed apps unlessthe auto-update feature is disabled or if set to update only when connected to a WiFi network. So, In case you have disabled auto-updates or you use your phone only on Mobile Data, then your Venmo app is likely outdated.
Therefore, you should visit the App Store or Play Store, depending on your device, and check if the Venmo App on your phone requires an update. If it shows an available update, install it and try to make the transfer again.
4. Changing Banking Credentials
In case you have changed your banking credentials recently, like updating your banking password or username, or you have updated your associated phone number or email address with your bank, then your bank account is likely going to be disconnected with Venmo.
Venmo detects updates made to your banking credentials, and to avoid any security issues; it disconnects your bank account.
Therefore, in this manner, Venmo would stop any unauthorized access to your account.
Solution – Verify Your Banking Details
Before you do anything else, the first thing you should do to fix the “Venmo lost connection with Bank” issue is to double-check your banking credentials. This alone will likely fix the error.
Most banks demand clients to update their online bank credentials every 90 days or so to optimize their information safety.
So, when you update banking credentials, Venmo will likely unlink from your bank for security reasons. Now, all you need to do is remove your bank account from Venmo and add it again using the account’s new credentials.
In case you are uncertain if that’s the problem, you can call your bank and ask them if they need you to change or update your credentials.
5. Changing Banking MFA Settings
When you enable MFA (multi-factor authentication) or update your security settings for your online banking to protect your account, Venmo unlinks your bank account. Again, Venmo does this action for security reasons.
6. Remove and Re-Add Your Bank Account
Before you talk to a professional, you should manually remove your bank account from your Venmo and add it again.
Apps and Devices sometimes have glitches, and this step can help eliminate them. So, for removing your bank account from the app:
- Open the Venmo app and go to settings
- Tap “Payment Methods”
- Find the bank that is giving the issue and select it.
- Tap remove and confirm the removal.
Now that your bank account is removed and is not present anywhere in the payment methods let’s add it again. We have already mentioned above the method of adding a bank account to Venmo using either a desktop or a smartphone. Follow that method to add a bank account easily.
7. Contact Customer Support
Now that you have tried all the steps, but still the Venmo we lost connection with your bank issue chooses to stay with you, you should contact customer support and ask them how to make this uninvited guest go away.
Inform them about everything you have tried. They may guide you to contact your bank’s customer support since the issue can be from their side, so try keeping an open mind.
As promised, from possible reasons to fixes, we have guided you through everything in-depth. Now, the only thing left is FAQs around the topic. So, let’s move on to how to add a bank account to Venmo and some commonly asked questions about “Venmo lost connection with Bank.”
Add Bank Account to Your Venmo Account
Add Bank Account Using Desktop
To connect your bank account to Venmo using a computer choose “Link Bank Account,” then start following instructions:
- Open the “You” tab by choosing the single-person icon.
- Press Settings gear from the top-right corner of your screen, then tap “Payment Methods.”
- Select “Add a bank or card” and tap “Bank“
- Choose the verification method you want.
Add Bank Account Using Phone
- Open the Venmo app and go to the settings
- Tap “Payment Methods”
- Tap “Add a Bank or Card”
- Select “Bank“
- Type in your banking credentials
- Choose your preferred verification method
Send and Receive Money Using Venmo
Now you know how to add a bank account using your respective device and transfer money using Venmo. In case you don’t know, this section will help you;
To request or send money using Venmo,
- Open the Venmo app and simply press the “Pay or Request” button.
- Enter your friend’s username, email, or phone number in the top box.
- If your friend is nearby, you can also scan a QR code from the app. From there, you can either send them money or request money from them.
Is It Safe to Link My Bank Account With Venmo, and How to Make It Safer?
Yes, Venmo is safe to use. It encrypts the account details and stores that information on securely located servers.
To make Venmo safer, create a PIN code in your app and set up multi-factor authentication to add another protection layer. When you enable a PIN, you’ll be asked to enter it every time you open the app, preventing unknown access. You can also pair the PIN code with your fingerprint if your device has the feature.
How Much Money Is Safe on Venmo?
Venmo allows keeping balance on the app; however, it is often smarter to transfer money to your bank account. Money available in your Venmo isn’t FDIC insured unless transferred to Venmo through direct deposit, bought cryptocurrency, or used remote check capture.
Can I Cancel a Payment on Venmo?
Once you send a payment in Venmo, they send a request to your card/bank company to make the funds available. This means Venmo can’t cancel a payment for you once it’s initiated.
The quickest way of getting a refund is to ask your friend to initiate a transfer to your account for the exact amount. Keep in mind that even the Venmo support team can’t reverse the payment for you unless the amount is still in your friend’s account.
Problems are never pleasant, and when they interfere with your favorite fin-tech platform, the pain gets unbearable. Losing the connection with Bank from Venmo is something similar. However, the good news is that putting all the troubling aspects behind it is not as complicated as it may seem.
In this write-up, we have walked you through some super-efficient fixes that can help you fix the “Venmo we lost connection with your bank” issue. Try them out, and let us know which one worked for you.
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