How to Get Money Back From a Venmo Scam

Venmo, a peer-to-peer payment platform, attracts scammers who attempt to defraud users. Falling victim to a Venmo scam can be distressing, often leaving individuals unsure of how to recover their funds. This guide outlines the steps to take if you find yourself in such a situation, helping you navigate the process of reclaiming scammed money.

Immediate Information Gathering

Upon realizing you have been scammed on Venmo, collecting detailed information about the incident is essential. Document the date, time, and amount of the fraudulent transaction. Identify the scammer’s Venmo username, found in your app’s transaction details, and any associated contact information they used.

Also gather evidence related to how the scam unfolded. This includes taking screenshots of all relevant communications, whether via text messages, emails, or Venmo’s chat feature. Clearly note the nature of the scam, such as a fake invoice, phishing attempt, or deceptive request for payment for undelivered goods. This documentation supports any subsequent reporting or dispute processes.

Reporting the Incident to Venmo

After compiling all information, report the incident directly to Venmo’s support team. You can initiate a report through the Venmo app by navigating to the “Me” tab, then selecting “Get Help,” and choosing “Chat With Us.” Venmo’s website also provides contact forms and online chat options. For suspicious emails, forward them to [email protected]; for scam texts or calls, send screenshots and details to [email protected].

When reporting, provide all gathered evidence, including transaction details, the scammer’s username, and communication screenshots. Venmo’s policies do not cover refunds for payments voluntarily sent between individual users, even in cases of fraud, as Venmo does not mediate these transactions. However, for unauthorized transactions—payments you did not make—or purchases covered by the Purchase Protection Program, Venmo may investigate and potentially freeze the scammer’s account if funds are available. The Purchase Protection Program applies to purchases from business profiles or transactions explicitly marked for goods or services.

For unauthorized activity on your Venmo Mastercard Debit Card, contact Venmo support directly and consider disabling the card within the app or by phone. Venmo reviews submissions and collaborates with law enforcement to address fraudulent activities. While a refund is not guaranteed for all scam types, reporting helps Venmo track fraudulent behavior and assists in broader investigations.

Engaging Your Bank or Card Provider

Beyond reporting to Venmo, also contact your bank or credit card provider, especially if scammed funds originated from a linked bank account or credit card. Contact your financial institution’s fraud department immediately to report the unauthorized or fraudulent charge. Banks can initiate a dispute or chargeback process, a way to contest erroneous or fraudulent transactions.

When contacting your bank, provide the same detailed information you gathered, including the transaction date, amount, and a clear explanation of the scam. For credit card disputes, you have up to 90 days from the transaction date to file digitally, though phone filings may be possible later. Banks are supportive in investigating fraudulent charges, especially if a card number has been compromised. Under Regulation E, for electronic transfers, banks must investigate and may reverse unauthorized transactions if reported within 60 days.

The bank’s investigation timeline varies; simple cases may resolve within days, while complex cases can take 30 to 90 days. Some credit card companies aim to resolve fraud claims within 30 days. If the bank finds the dispute valid, they may issue a provisional credit to your account while the investigation is ongoing. This process involves the bank reviewing evidence and initiating a chargeback, which can result in funds being returned.

Monitoring and Next Steps

After reporting the scam to both Venmo and your financial institution, monitor the status of your claims and all financial accounts. Keep a record of all communication, including reference numbers, dates, and the names of representatives you speak with. Venmo’s investigation and a bank’s chargeback process can take time, ranging from several weeks to a few months, depending on case complexity.

Regularly check your Venmo account for updates on your report and review your bank and credit card statements for any further suspicious activity. If you do not receive updates within the expected timeframe, follow up to inquire about your case’s progress. Persistence is important, ensuring your claim remains active and is thoroughly investigated.