Venmo can steal your money for any reason at any time. Due to their security policy they don't have to tell you, they'll just freeze your account and claim you violated their user agreement (but won't tell you how). They are not FDIC insured and are facing a class action lawsuit for requiring more financial information than necessary and leaving their users susceptible to cyber attacks. My bank has said they have had a lot of trouble with Venmo. Just avoid if you want to keep your money.