Venmo can sometimes decline your transactions, and you do not have to get tensed over this payment failure. They generally occur due to insufficient funds in your transacting account or network failures. It might also happen because of improper linking of a bank account or exceeded transfer limit for the day. Remember, Venmo also declines payment if any fraudulent activities are going on your account or if they notice any suspicious moves. This can ultimately can lead to blocking your Venmo account.