Stop Payment on Venmo Transfer

Answered by:

Question:

A customer made a payment using Venmo over the weekend and it is pending against their account first thing Monday. The customer has discovered the transaction is a scam. Our customer has contacted Venmo who said there was nothing they could do. Can the bank put a stop payment on this payment?

Answer:

If the debit hits your customer's account as an ACH item, it would be subject to a stop order received by the bank before the cutoff hour the next banking day for processing the posting day's items.

If it hits as a debit card transaction, there's no stop payment possible unless there was no authorization for the transaction given by your bank.