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.
View change record →How other platforms handle this
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.
The refund will cover the relevant subscription fee prorated from the date you request cancellation to the end of the relevant subscription period you have paid for.
"The refund amount may not exceed the original sale amount except by an amount equal to any reimbursements to the buyer for postage costs incurred for product returns.Excerpt from Venmo's User Agreement
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The clause states: “The refund amount may not exceed the original sale amount except by an amount equal to any reimbursements to the buyer for postage costs incurred for product returns.”
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