<prompt> Human: Rude awakening this morning! My phone buzzed because overdraft protection kicked in and woke me up!After getting the e-mail, I quickly got on my online banking and saw the transaction, confirmed with the wife that she had no idea what it was and called the bank. Theyre issuing a stop payment and sending the it over to the claims department. Im supposed to expect resolution in 10 business days. Until then, im out 3000. SUPER HELPFULLY though, however, the person that took my claim offered me a loan! THATS EXACTLY WHAT I NEED AFTER SOMEONE HAS JUST STOLEN 3000 FROM ME. They were surprised when I told them that was crazy...We try to do everything right; all of our day to day transactions are on a credit card, we never use the debit card for anything. This account is basically for bill pay only.So wtf? How did this happen? The banker confirmed that it was NOT a debit card transaction, so it wasnt the usual skimmer at the gas pump that did this as an example, again, we never use debit cards for anything. How do I protect myself? Is there a bank that offers an account that will accept direct deposits and do bill pay ONLY?Does anyone have experience with this Venmo? How does it work? How could they have possibly used this service to steal money from me?This is insane...Appreciate any advice.EDIT:Getting a lot of traction on this post so its getting difficult to follow all the various threads within. Adding some details here to answer FAQs and a current status:- I bank through Wells Fargo U.S- The transaction that posted to my account looks like this I have no idea what SCORCH ONEOHNINE is, or any account ending in 1352: VENMO-2 PAYMENT XXX1352 SCORCH ONEOHNINE- I am currently in contact with Venmo support, the latest reply was from Miguel who indicated that they have found the charge, but that I need to contact my bank so no help- Ive just formatted my PC and changed all of my passwords again, so this PC is clean- Wells Fargo does not have any easy to setup 2FA. They have an advanced access system that is supposed to send codes to your phone, but they said it doesnt currently work.- Wells Fargo also seems to have a hardware based key fob kind of deal RSA token generator for 2FA which I might pursue, but I want to wait and see how quickly they resolve this issue and give my money back before I decide if I want to spend 25 on this device and continue my relationship with them.- I am very much open to switch to another bankCU im in Colorado that has legitimate 2FA using a phone app or something.EDIT 2:- To answer all of the questions about the Venmo limits, I replied to Miguel again to ask whether they had my social security number. He assured me that they did not.The thief was able to bypass their maximum limits by LINKING A FACEBOOK ACCOUNT TO THEIR VENMO ACCOUNT. I just checked my Facebook account which I very rarely use and Venmo is definitely not listed under the authorized apps section. So whatever Facebook account they linked has nothing to do with me.I dont understand on what planet a Facebook account is enough to verify identity and authorize thieves to steal MORE money; but thats what happened in this case. Once again, I appreciate everyones time and thoughts on this post. Ill continue readingreplyingupdating.Assistant: I would second unanar785s advice and recommend that you call Venmo right away. I did some online research and it seems as though Venmo is a fairly established company with a customer support team.They should have background knowledge of the details of the transaction. Make sure you have your credit card, debit card, bank account number, and statement details handy for the call and be prepared to stand your ground. They may tell you to have your bank process the claim but there is no harm in attempting to escalate your issue within the company. The company SHOULD want to know of this fraud for their own investigative purposes.Edit: You should also perform a few malware scans on your computer for peace of mind. Someone may have retrieved your bank log-in information via your computer.Human: Im going to call Venmo now. I appreciate the advice. Ive also changed all of my banks passwords and will be formatting the PC just in case. I suspect most of the advice in this thread is correct; I bet they have my online banking credentials somehow. Ill update with whatever they say.  <response>: well there is really 2 ways the money was taken from your account. Venmo has the option to add a bank account using a routing and checking number as well as the debit card. My guess is that it was probably using a debit card in your name as there is verification when using the bank account. 