Venmo is a social payment and money request app. You can use Venom for paying your friend if you don't want to pay cash. Additionally, Venmo has a debit card that you can use to pay anywhere in the U.S. When you create an account with Venmo, you have the option to fund the account with your Venmo balance, bank account, or debit/credit card. It could be that your Venmo Transaction Declined for a variety of reasons. You can contact them for assistance. The following reasons led to the cancellation of transactions: You may encounter an error on Venmo from time to time, and here are some reasons why. Venmo will cancel your transaction if your bank account is frozen. The main reason for the transaction failing is not having enough money in the bank. You will receive a message from Venmo that your Venmo transaction was not successful. Once Venmo receives the payment, it will bring your account back to normal. Contact your bank for details. Venmo imposed some limitations on the transaction. You must wait for one week after creating your Venmo account for the very first time, as it will verify your identity. If you pay during this period, your transaction will be declined. Venmo has a weekly limit of $4999.99 that you cannot purchase and pay at the same time. A weekly limit of $2999.99 applies. Payments to authorized merchants are limited to $2000 per transaction and only 30 transactions are allowed per day. Venmo Keep Saying Something Went Wrong or Venmo will decline your payment if you exceed the limit. Venmo cards cannot be used to purchase more than $3000 per transaction. A Venmo transaction declined prepaid card error can be reported by calling them. The number will be on the back of the card. On what devices can you set up a Venmo account? With these simple steps, you can set up your Venmo account on your mobile phone. Install the Venmo app. Click "create account" to access it. The bank account number, your full name, and your email address must be entered. Then, enter a password that is secure. Your information will be verified and it could take up to a week. Then, click on the top right side of the app to add your bank account. Next, choose a payment method. You must link your bank account with your Venmo account by entering your personal information. There is a pencil icon at the top of the screen. Click on it to add friends. As soon as that is done, you can begin requesting and paying money. Also Read: Venmo Payment Not Showing Up In Bank Account Conclusion Finally, if your Venmo transaction declined, it might be due to the above-mentioned reasons. You can find solutions to any mistakes you have made by following the solutions above.