5/12/2018 - note that I’ve updated the topic of this thread to better reflect what my situation has now evolved into. What first was a “Venmo froze my account” warning has now become a case of multiple scammers doing chargebacks against me for closed BTC for USD sales using Venmo and CashApp.
Just a heads up tho the community that Venmo may be wising up to transactions with the Bisq ID as the “reason”?
My Venmo account is about 2 years old, and has had only infrequent use occasionally sending and receiving small payments to real-life friends. This week, I started using it with Bisq - and bam, now it’s dead. I was the recipient of fiat, after selling BTC. The buyers always followed protocol and just put the Bisq TXID prefix as the reason for the payment, no mention of “bitcoin” or anything like that.
I may or may not ever get that $1200 back, but the BTC buyer I transacted with now has their BTC no problem. I’m never going to use Venmo or Paypal ever again.
Not sure how widespread this is, or if I’m just a “lucky early adopter” of new Venmo monitoring and enforcement efforts. But My advice? Do not use Venmo with Bisq.
Venmo support emails giving me the good news:
We’re writing to inform you that we’ve detected some business activity on your account, which is prohibited by our User Agreement. Venmo does not offer payment protection for business activity or transactions with people you don’t know. Therefore, engaging in these sorts of transactions can leave you vulnerable to fraudulent payments and scams, both of which can lead to financial loss. Venmo is designed for payments between friends and payments to authorized merchants. Because safety is our priority, your Venmo account has been frozen and our service will no longer be available to you.
We apologize for any inconvenience this causes and appreciate your understanding. If you have any further questions, please reply to this email and we will do our best to answer them.
Your Venmo account has been suspended due to recent activity that appears to be a violation of our User Agreement.
If you would like to reactivate your account, please reply to this email with a picture of your unexpired US government issued photo identification to begin the review.
Acceptable forms of ID include a driver’s license, state ID card, passport, and green card. The name on your photo ID should match the name registered to your Venmo account. We require this information to ensure you are the legal account holder.
PayPal is located at 2211 North First Street, San Jose, CA 95131