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Why Can’t I Use My Venmo Balance? (Explained)

Why Can’t I Use My Venmo Balance? (Explained)

Venmo is a great way to simply your money transactions, but if you have run into problems using your balance you can try verifying your identity, checking your Venmo balance to see if you have enough money, doing all updates, clearing the cache, checking to see if servers are down, and making sure you selected Venmo as the preferred payment method. 

Venmo is a great way to conduct your money transactions easily and digitally. Venmo is a digital wallet app that allows you to send and receive money electronically.

Individuals and even small business owners have found this technology can greatly improve their lives by simplifying their money transactions.

Like with all technology, though, sometimes, you run into problems.

If you are having trouble with your Venmo account, and are not able to use your balance, we have some tips and advice that might help. Keep reading to learn why you can’t use your Venmo balance and a few solutions that might help. 

How To Unlock My Venmo Balance?

The most common reason why you may be struggling to use your Venmo balance is that your identity has not yet been properly verified. To keep users safe, Venmo has set up an identity verification process. Although at first this might seem like an inconvenient step, this is actually better for you in the long run. 

Venmo has established identity verification to ensure that the users on the app are not bots. This cuts down on the instances of security breaches. Without identity verification, scammers could set up bot accounts which will greatly endanger your money, information and identity.

Obviously, identity verification is very important when using this app. Let’s look at the steps you can take to verify your identity so that you can use your balance. 

Venmo Identity Verification 

Luckily, verifying your identity is not a complicated process. We will walk you through the steps here. 

Open app and login- Be sure to keep your login information in a safe place where you can gain access to it easily, but others cannot. If you struggle to remember passwords, you may want to consider creating a file where you keep passwords recorded. But be sure that you keep this information safe. 

Click “You” tab- This tab will look like a person icon. This will take you to all the information about your account. 

Click the Settings gear- This icon will look like a small gear and will take you to the information on how to make changes to your account

Click Identity Verification- Here you will be able to verify your identity. Be sure that all information you input here is accurate. 

Follow prompts- You will be given a few prompts on how to complete the verification process.

Other Venmo Issues 

Although identity verification is the most common reason you may not be able to use your balance, there are a few other issues that might cause problems with using your account balance. Let’s take a look at some of these other reasons and how to fix the problem

Not enough balance

If you have already verified your identity, but are still having trouble, one common reason why your transactions may not be going through could be because there is not enough money on the balance to cover the transaction you are trying to complete. 

Just like with a checking account, you must have enough money on your Venmo balance to cover any transactions you are attempting. You can quickly fix the problem by adding more money to your balance. 

Venmo balance not selected

 During an electronic money transaction you will have an opportunity to choose Venmo as your preferred payment method. If you forget to choose Venmo as the preferred payment method, then the transaction cannot be completed properly. 

If you are shopping online or paying a bill, be sure that you always click Venmo Balance as the preferred payment method. If you do not click this option you may mistakenly use a different payment method unintentionally such as your bank account or another card

Account is outdated

Venmo, like most forms of technology, will have ongoing updates every once in a while. If you do not update your app, you might find yourself using an outdated Venmo App

Updates are done to fix security problems, and to solve problems that pop up with app. Updates are done for your benefit so that you can use the app with greater security and more ease.

Although sometimes it might seem like updates are a little bit annoying, they are important. If you complete updates regularly, you will always be able to use the app when you need to. This is more convenient in the long run. 

Updates are available in the Google Play Store for an android device or the Apple App Store for iOS. When you find an available update, download it and install it. 

Venmo servers are down

Sometimes you could run into issues with using your Venmo balance because the Venmo servers are down.

This does happen occasionally. When this happens all you can really do is wait for the problem to be resolved on the Venmo side.

If it seems that the problem is not getting resolved quickly, you can report the problem to Venmo help or to Venmo support.

Usually, if there is a problem with the servers, Venmo will notify customers. 

Cache issues

A cache is temporary data that gets stored on our devices. When cache data is too large it can cause problems with apps. You can quickly and easily solve this issue by clearing the cache.