Money can be transferred and received quickly using Venmo. With Venmo’s mobile app, you can access a variety of useful features. It is possible that Venmo won’t connect to your bank in some cases.
Due to the issue with your account, you would be unable to perform a transaction. In this situation, Venmo will display an error message stating, “Lost connection with your bank.” Don’t worry! It is easy to fix. This post will explain why Venmo does not connect to your bank and what you can do about it.
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Reasons For Why Venmo We Lost Connection With Bank Plaid
The Venmo app shows ‘lost connection with bank plaid legit’ if your banking credentials have been changed recently, your MFA settings have been adjusted, you are using an outdated app version, or there is a security threat.
You can find a list of all possible reasons why Venmo may lose connection with your bank below.
Modifying Online Banking credentials
When you change or update your bank password, Venmo displays an error message. The reason for this is that the new password does not link to your Venmo account.
Credit cards and debit cards are also covered. Venmo requires you to update your card details once it expires. You cannot access the money if your details aren’t updated.
The bank account needs to be removed entirely from Venmo and then re-added.
Change in banking MFA settings
Venmo disconnects the connection with your bank account if you change your online banking security settings or enable multi-factor authentication (MFA).
The security reasons behind this are also the same. Changing the MFA setting will result in Venmo disconnecting your bank account from the app as soon as it detects the change.
Changing Bank Account On Your Venmo App
With Venmo, you can link multiple bank accounts. In this case, you must confirm that both bank accounts belong to you by completing a verification process.
It is possible for Venmo to receive an error message when you change your bank account payment method. By using it, you can be assured that your bank account and funds will remain safe.
Connection Issues
Venmo can disconnect your linked bank account if a connection issue occurs between the bank servers and Venmo servers.
Use of outdated Venmo app
Using an outdated version of Venmo or not updating it can lead to problems and issues.
The Venmo app can also display an error stating that its bank connection has been lost in this situation.
Venmo restricts your connection
It is possible that Venmo could interfere with your connection to the plaid and limit your access to financial information. Venmo Plaid may also not be working for you because of this.
Also Check: How To Use Venmo Balance Instead of Bank Account?
Ways To Fix Venmo Not Connecting To Bank Issue
Check Your Internet Connection
Make sure your internet connection is working before transferring money. The Venmo App might not function properly if your internet connection is lost or poor.
Outdated Venmo app
Venmo can fail if the app hasn’t been updated, or if the app is outdated.
The Venmo app can also display an error stating that its bank connection has been lost in this situation.
Reconnect your bank
The only way to fix the ‘we lost connection with your bank’ error on Venmo is to remove your bank account and reconnect it.
Following are the steps you can follow if you don’t know how to remove or add a bank account in Venmo.
- 1. Open Venmo App and log in
If you haven’t already logged into your Venmo account, open the app on your device and log in.
- 2. Tap on the Menu button
You can now tap on the menu icon (three dots) in the upper right corner of the Venmo app from the app’s home screen.
- 3. Tap Setting
Tap on the ‘Settings’ option in the drop-down menu.
- 4. Tap on Payment Method
Tap on the ‘Payment Method’ option in the settings menu
- 5. Tap on Add Bank or Card
You can add a bank or credit card by tapping on the option ‘Add Bank or Credit Card’ in the Payment method menu.
- 6. Enter bank account/card details
Last but not least, enter your credit or bank card information.
Contact the Venmo support team
It is possible that the very first step has fixed the ‘Venmo lost connection with bank’ issue, but if you are still experiencing this issue, please contact the Venmo support team for further assistance.
It is only possible to fix account-specific issues by contacting Venmo Support.
In order to establish contact, there are several platforms and methods available –
- Send an email. You can enter your details and the problem description by clicking this link
- Make a call. The Venmo support number is (855) 812-4430 (Monday through Friday, 10:00 am to 6:00 pm ET).
- Chat with a Venmo representative. Use Venmo’s chat feature to describe your issue. (Mon – Fri, 7:00 am–1:00 am ET; Sat – Sun, 9:00 am–11:00 pm ET).
Conclusion
A Venmo account allows you to send money to friends, family, or anyone else with an active Venmo account via an online mobile payment app. Money can be sent and received so easily with it. It’s as simple as creating an account and linking your bank account or credit card.
Venmo app also provides you with a debit card, which you can use to withdraw cash from ATMs or pay bills online and in stores. Occasionally, Venmo might have problems with your payment, or sometimes Venmo might lose connection with your bank, as we discussed above. If You are worried about Venmo payment history we are here for you to tell you How Venmo Appears in the bank Statement.
We hope you have learned why Venmo says you lost connection with your bank, and you have successfully reconnected your bank. To know more about Venmo, you can visit https://fintechhop.com/venmo/.