Venmo Lost Connection With Bank? See Why & How To Fix It
If you want to receive or send money to your friends, you can always count on the service offered by Venmo.
Venmo has proven to be one very reliable app that allows you to access a lot of financial features from your phone.
But, what happens if you want to make a payment urgently but there’s a bank issue going on in your account?
In that case, users will certainly feel disappointed in using Venmo as their main payment method.
Well, worry not - every problem has a solution, and this one isn’t the exception.
- Venmo lost connection with bank: what does it mean?;
- What to do if the “lost connection with your bank” error message appears;
- Possible fixes if you continue facing the “lost connection with your bank” problem in your Venmo account.
There’s a Problem Between Your Linked Bank Account and Venmo Account
The “Lost Connection with your Bank” error message appears for an obvious reason: Venmo fails to connect your bank with your Venmo account.
As you know, using Venmo with your debit card or credit card is quite easy if you just want to make payments.
Nonetheless, if you want to use all money transfer services offered by the platform, you need to connect a bank account.
And, in order to link this bank account, you need to verify your profile by providing your personal details.
If a user doesn’t provide their personal details, they’ll be unable to complete the Venmo KYC Verification Process.
Nevertheless, this error appears after completing verification on Venmo’s website, so how do you solve it?
Pro Tip: Sometimes, your Venmo account might get frozen due to several reasons.
Multi-factor authentication, KYC, and overall safety measures are there to protect your account from suspicious activity.
Learn how to Unfreeze Venmo Account by reading our related blog post.
Venmo Lost Connection with Bank: Reasons and How to Fix It
If you are trying to transfer money, but the platform Cancels Your Venmo Payment, then it’s imperative to solve these issues as soon as possible.
There are five possible reasons why you are unable to use the cash in your bank account to pay for the things you want, so let’s get to it.
1. Your Online Banking Password Has Been Recently Updated
According to the Venmo’s website, this is the most common reason that causes this issue.
If you have recently changed the password on your bank account, then the Venmo App won’t directly connect it to your Venmo account.
The same happens with a credit or a debit card: if the debit card expires, the Venmo App will tell you to update the information in your accounts before being able to access your funds - that’s how the business works!
Just remove your bank account and then add it back again as your primary payment method.
2. You’ve Changed Bank Accounts in the Venmo App
You can have up to two bank accounts linked to your Venmo account.
Of course, when you create your profile, you’ll be asked to prove that the account belongs to you.
If you have recently changed your bank account payment method, then the “lost connection with bank” message will appear.
Then again, this works as an automated security measure to protect users from problems with their money.
3. There’s a Server Problem Related to Your Bank Company
Perhaps the connection can’t be established between your bank and the Venmo app because there’s a temporary outage going on in your bank.
Check your bank app first.
If there isn’t a problem with the app, then move on to the following fix.
Also, ask your friends if they are experiencing similar problems with a payment in their Venmo account.
4. Security Issues (Possible Fraud)
If you are the rightful owner of the bank account, then you shouldn’t face this problem, but it might as well happen.
Using banks as a payment method is the common rule in Venmo, but as soon as the platform identifies irregular behavior, your payment method will be limited.
5. Bad Internet Connection
At last, the issue might be caused due to a bad internet connection - as simple as that.
Check your Wi-Fi and use your mobile data to check if that’s the core cause of the connection problem.
Remember that a Venmo payment might as well fail due to a bad connection, so the problem will get fixed once your connection starts working back again.
That will be all for today! Feel free to check our other Venmo articles on GrowFollowing.
Venmo Lost Connection With Bank FAQ
Is It Receiving Money Possible While the Connection with Your Bank Lost” Error Persists?
Yes, people can still use their Venmo balance to send money to your account, but you need to fix the “lost connection with bank” error either way.
Learn how to Pay With Venmo Balance by reading our related blog post.
Can I Use PayPal in Venmo?
Although PayPal and Venmo belong to the same company, you can’t directly connect these two separate services in Venmo.
The business model of both platforms is slightly different, so both PayPal and Venmo have specific goals aimed at particular needs.
Learn more about this on Venmo’s Official Website.
Steve specializes in cryptocurrency and finance. As a born researcher, he won’t leave any stone unturned when it comes to topics he covers.