Targeted 50,000 MRP for Platinum Business

[AsherO]

Get some AUs? Surely you're not talking about Bonus ID: 5721, right? Can you explain?

Lounge access, $25 SBS credit.

[Yellow]

Lounge access, $25 SBS credit.

You get refunded the AU fee when you cancel the card, right?

[AJK]

Lounge access, $25 SBS credit.

Right. Thanks.

[AsherO]

You get refunded the AU fee when you cancel the card, right?

I add it over the phone, say I'll call back with SSN, never got charged it (p'tu p'tu p'tu )

[Yellow]

I add it over the phone, say I'll call back with SSN, never got charged it (p'tu p'tu p'tu )

Wow!

[TC610]

And i'm nervous about Venmo. Too many reports of ppl getting into trouble using it

The worst that will happen is they will shut down your Venmo account.  Unless you are using Venmo regularly for purposes other than trying to reach a threshold and nothing else, why should it matter if your account gets shut down?  I for one will keep using Venmo and AP (both cautiously) until my accounts get shut down.

[AJK]

The worst that will happen is they will shut down your Venmo account.  Unless you are using Venmo regularly for purposes other than trying to reach a threshold and nothing else, why should it matter if your account gets shut down?  I for one will keep using Venmo and AP (both cautiously) until my accounts get shut down.

Actually, the worse thing is much worse than them closing your account. Ever read the TOS?

Frozen money, criminal charges, civil charges...

[Red]

I have read reports of them holding the funds and not releasing them until you sign something, etc.
This article freaked me out http://www.fatwallet.com/forums/online-auction-info/1064011/

I don't think that's a normal situation. He seems to have $15,000 stuck there, the service wasn't meant for that. I think if you use it for a few thousand you won't have that problem.

[AJK]

I think if you use it for a few thousand you won't have that problem.

You can think whatever you want, bottom line is that it in their TOS which you agree to when you sign up and use the service.

Granted its probably not their MO, but it's certainly within their right.

[Red]

You can think whatever you want, bottom line is that it in their TOS which you agree to when you sign up and use the service.

Granted its probably not their MO, but it's certainly within their right.

This is a quote from that thread:
"Venmo TOS said:
Depending on the degree to which you have Verified your Account, we may limit you to withdrawing no more than $500.00 USD per month. In addition, we may delay withdrawals of large sums of money while we screen for risk."
That's why I posted what I did. Yes it is my opinion, but I do think if you keep your account activity low you should stay beneath the radar.

[AJK]

This is a quote from that thread:
"Venmo TOS said:
Depending on the degree to which you have Verified your Account, we may limit you to withdrawing no more than $500.00 USD per month. In addition, we may delay withdrawals of large sums of money while we screen for risk."
That's why I posted what I did. Yes it is my opinion, but I do think if you keep your account activity low you should stay beneath the radar.

You need to further review the User Agreement. Specifically section 10.

[Red]

You need to further review the User Agreement. Specifically section 10.

Yikes their TOS goes on for quite a while. You're right they seem to be covering all their bases and then some, so I guess I would be really careful with my transactions.

[TC610]

Actually, the worse thing is much worse than them closing your account. Ever read the TOS?
Frozen money, criminal charges, civil charges...

Within the scope of my original reply of using Venmo to help meet bonus thresholds...
I did read the TOS.  I don't see any mention of criminal charges.  Frozen money can't be held for longer than 180 days, except in the case where said user has caused damages which Venmo could claim.

You're right in that they can do more than just close your account.  However in this case it seems the most Venmo can do within their scope of their TOS is freeze your funds for up to 180 days since in my example you're not causing any damages (except maybe Venmo's CC processing fees?).

[Red]

Within the scope of my original reply of using Venmo to help meet bonus thresholds...
I did read the TOS.  I don't see any mention of criminal charges.  Frozen money can't be held for longer than 180 days, except in the case where said user has caused damages which Venmo could claim.

You're right in that they can do more than just close your account.  However in this case it seems the most Venmo can do within their scope of their TOS is freeze your funds for up to 180 days since in my example you're not causing any damages (except maybe Venmo's CC processing fees?).

It seems like they can fine you up to $2,500.

[TC610]

It seems like they can fine you up to $2,500.

Again, let's keep this in the scope of you sending yourself or a friend a couple of hundred dollars.
They can if you cause damages.  If you're referring to their TOS Section 10.6, the very next line says "a fine up to $2,500.00 USD is presently a reasonable minimum estimate of Venmo’s damages". In that case they are within their rights to charge you for CC processing fees, administrative fees, etc.  It's been a while since I had to do anything with civil law, but IIRC a company can't take money from you just because you violated their TOS without you causing damages. 

But I'm not a lawyer and I could be interpreting this wrong.  I'll forward this to someone who has some better knowledge with civil law than I do.

[AJK]

First of all, we're not talking a couple of hundred dollars; it's a couple thousand per month. And that's only if one has one account.

Second, you conveniently forgot to fully quote the TOS. What it says fully: "You acknowledge and agree that a fine up to $2,500.00 USD is presently a reasonable minimum estimate of...damages." Though this is completely hypothetical, if you think that Venmo could not orchestrate its complaint in such a manner as to show damages of $2500.00, I believe you'd be sorely mistaken. Additionally, the words "acknowledge and agree" have a pretty powerful effect in US law.

[AsherO]

First of all, we're not talking a couple of hundred dollars; it's a couple thousand per month. And that's only if one has one account.

Second, you conveniently forgot to fully quote the TOS. What it says fully: "You acknowledge and agree that a fine up to $2,500.00 USD is presently a reasonable minimum estimate of...damages." Though this is completely hypothetical, if you think that Venmo could not orchestrate its complaint in such a manner as to show damages of $2500.00, I believe you'd be sorely mistaken. Additionally, the words "acknowledge and agree" have a pretty powerful effect in US law.

They always use such ambiguous words in T&Cs, it's like a 'fair' use policy...

What it's basically saying (FWIU) is that if we want to we'll take adverse action against you, and if you have a problem with that, we'll see you in court (where we can fight over what is and isn't reasonable)...

[AJK]

The bottom line, as I originally said, was that they could do a whole lot worse than shutting down your account. That's all.