By applying for a Venmo account, it’s essential to understand the terms of electronic communication from PayPal, Inc., also known as Venmo. This document outlines your consent to receive important disclosures and notices electronically, ensuring you are well-informed about your account and related policies. PayPal’s headquarters, and the address for legal inquiries, is located at 2211 North First Street, San Jose, CA 95131. This article will clarify what you agree to when you consent to electronic disclosures and what your rights are.
What You Consent To: Receiving Disclosures Electronically
When you agree to electronic disclosures, you are consenting to receive important information related to your Venmo account via electronic means. These disclosures, sent by PayPal, Inc. – located at 2211 North First Street San Jose – can come through various channels for your convenience:
- Text Messages: Notifications sent directly to your mobile phone, sometimes including links to detailed information on the Venmo website.
- Email: Communications delivered to your email address, or potentially through social media networks linked to your account.
- In-App Notifications: Alerts and postings directly within the Venmo web or mobile application.
Any of these methods constitute official and legally recognized notice. The types of information you will receive electronically include, but are not limited to:
- Venmo Policies and Agreements: Access to the Venmo Website, Privacy Policy, and User Agreement, which are crucial for understanding the terms of service.
- Amendments and Updates: Notifications regarding any changes or updates to the Policies and Agreements.
- Account Information: Details about your account balance, transaction activity, and other pertinent account-related information.
- Transaction Records: Periodic statements, receipts, confirmations, authorizations, and a history of your transactions.
- Error Resolution Disclosures: Information regarding the resolution of any claimed errors on your account statements.
- Tax Forms: Year-end tax statements, such as Form 1099-K, required for tax reporting purposes.
- Legal and Regulatory Disclosures: Any other disclosures mandated or permitted by law or regulation.
Your Right to Revoke Consent for Electronic Disclosures
You have the right to revoke your consent to receive these electronic disclosures at any time. This consent remains effective until you actively decide to withdraw it. To revoke your consent, you can take either of the following actions:
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Online Contact: Click the “Contact Us” button, typically found at the bottom of the Venmo website, to submit your revocation request electronically.
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Written Request: Send a written request to PayPal, Inc. directly at their legal department address:
Legal Department
PayPal, Inc.
2211 North First Street
San Jose, CA 95131
It’s important to note that if you choose not to consent to electronic disclosures, or if you withdraw your consent, PayPal reserves certain rights. These rights may include refusing your account application, canceling your existing account, placing your account in an inactive status, or providing disclosures in paper format.
Should you request a paper copy of a specific disclosure within 180 days of its original electronic delivery, PayPal will waive the standard Disclosure Request Fee for the first two requests. Subsequent paper copy requests may be subject to fees. Paper copies are only provided if your current mailing address is accurately listed in your Venmo account profile.
System Requirements for Receiving Electronic Disclosures
To ensure you can effectively receive electronic disclosures, whether via text or email, you must have the necessary technical capabilities to access, view, and store them. Beyond having a valid email address and phone number, the following system requirements are essential:
- Internet Access: A computer or mobile device with a reliable internet connection.
- Web Browser: An up-to-date web browser with cookies enabled to ensure proper website functionality.
- Valid Email: A valid email address that is currently on file within your Venmo account profile.
- Storage or Printing Capability: The ability to electronically store or print the disclosures for your records.
- Email Whitelisting: If you utilize a spam blocker, you must add [email protected] to your email address book or whitelist to prevent disclosures from being filtered as spam.
PayPal reserves the right to modify these system requirements and will notify you of any material changes through a Disclosure.
Tax forms will be accessible online for at least two years from their posting date. It is recommended to print or save copies of your tax forms as they may not be available online indefinitely.
Receiving Texts and Emails: Ensuring Accurate Delivery
Maintaining accurate contact information is crucial for receiving electronic disclosures. You are responsible for ensuring that the primary mobile phone number and email address provided to Venmo are current and valid. This ensures you can receive text messages or emails containing disclosures, including any attached electronic documents. You must also have the capability to view, store, or print these disclosures.
It is your responsibility to promptly update your email address and mobile phone number in your Venmo account profile should they change. PayPal’s ability to notify you about the availability of your disclosures is dependent on the validity of the contact information in their records. If your mobile phone number or email address becomes invalid, PayPal reserves the right to deem your account inactive or take other actions as outlined in the User Agreement. You may be restricted from conducting transactions on your account until you update your mobile phone number or email address within your account profile.
Year-End Tax Forms and Electronic Consent
Disclosures include critical tax forms, such as Forms 1099-K, B, C, and MISC. Your consent to electronic disclosures extends to these tax forms, which will be furnished electronically every year after you give consent, until you withdraw that consent.
You retain the right to withdraw your consent specifically for electronic tax forms. You can do this by contacting PayPal through the methods described earlier – online or via mail to 2211 North First Street San Jose. Even if you revoke consent for electronic tax forms, you will continue to receive all other disclosures electronically, but your tax forms will be sent to you via U.S. mail.
If you require a paper copy of a tax form that was previously sent to you electronically, you can request one within 180 days of the date it was provided. Upon request, a paper copy will be mailed to your current street address on file.
PayPal’s Reservation of Rights and Contact Information
PayPal retains the right to provide any disclosure in paper form instead of electronically, or to withdraw the option of electronic disclosures entirely at any point. You are obligated to keep your current street address on file with PayPal and to update it promptly if it changes within your account profile.
While PayPal may waive fees for paper disclosure delivery in certain instances, they reserve the right to charge a Disclosure Request Fee and to adjust this fee at their discretion.
For your records, it is recommended to print a copy of this consent document and any disclosures you view electronically, as they may not remain accessible online indefinitely.
By clicking “Next” or “Sign Up” during the Venmo account signup process, you signify your electronic signature and agree to: (i) receive disclosures electronically under the outlined terms and conditions, (ii) maintain this consent until revoked, and (iii) meet the specified System Requirements. If you do not agree to receive disclosures electronically, you will not be able to open a Venmo account.
PayPal is responsible for sending electronic disclosures to you via email or text to the contact information in your account profile or through the Venmo service itself. However, PayPal is not liable for any delays or failures in your receipt of these electronic notices, regardless of whether you choose to view the disclosure, provided they uphold your right to revoke electronic consent.
For notices related to your account, unless otherwise legally specified or agreed upon, you can contact PayPal by clicking the “Contact Us” link or by mailing them at:
Legal Department
PayPal, Inc.
2211 North First Street
San Jose, CA 95131.
