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Web a few common reasons for payments failing on venmo are: This error message means venmo is or was experiencing technical issues, like an outage. Your bank or card issuer is declining the transaction (outside of. You have an insufficient balance. Web two reasons why venmo declined the payment. If you tried to send a venmo payment but your balance could not cover. Web typically, the reason for this error is that your bank or card issuer declined the payment. Web here are some possible reasons why your venmo payment was declined: Web 2.1 insufficient funds. 2.4 expired or invalid card. When you attempt to send funds using venmo, there are two.