This analysis describes what Venmo's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
The updated terms expand the arbitration clause to explicitly state that users agree to resolve 'most disputes by arbitration on an individual basis, a class action waiver, and a jury trial waiver.' The terms note that arbitration involves 'less discovery and appellate review than in court.' Additionally, Venmo's cash back rewards program has been restructured with specific tiered thresholds: users earn 1% baseline cash back, 2% if they spend at least $250 in a month, and 5% if they spend at least $1,500 in a month. Rewards are only applied to qualifying transactions with 'Bundle merchants' and exclude cash advances, gambling, wire transfers, cryptocurrency purchases, and certain financial institution transactions. If you return a purchase or receive a refund after earning cash back, Venmo states it may debit or withhold rewards to offset the amount. You must close your account before any changes become effective if you do not wish to be bound by them.
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We will refund your money within three (3) business days of your request to cancel a transfer as long as the funds have not already been picked up or deposited into an account of the designated recipient.
For subscribers and purchasers of Virtual Items residing in the Republic of Korea: in accordance with local law, you are entitled to a full refund of your subscription and/or unused Virtual Items during the 7 days following the purchase.
If you are on a paid subscription and we discontinue the Service you are using during your subscription...if we're unable to do so, we will provide you a pro-rata refund of fees prepaid for the remaining period of your subscription.
"Refunds must be submitted within one year of the date of the original transaction.Excerpt from Venmo's User Agreement
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The clause states: “Refunds must be submitted within one year of the date of the original transaction.”
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