Urgently need Info/Advice.

I'm selling various game items.

Few people are requesting to purchase Via "Venmo"

Now i've just today heard of this form of payment, Apparently its a method to send funds instantly.


Can anyone who has knowledge of this payment method please shed light on me.


Is it secure? Is it possible for them to reverse the transaction afterwards like Paypal? Etc.

Thanks in advance.

 

"99% chance you will be scammed if you sell for Venmo, especially without (seemingly any) proper precautions. Venmo is even worse that Paypal at reversing payments, which means that it happens all the time. The user will either use a stolen/hacked account or will just claim to Venmo and/or their credit card company that the payment was unauthorized."

Taken from here. I wouldn't use Venmo after what I just read haha, seems even worse than Paypal.

 

Thanks - I did a quick google search and it appeared to be the same way myself, However, they claimed "I'll send you the money, and you can transfer it to your bank first before giving me the gold".

But ofcourse, a scammer will tell you anything, I just wanted to get some knowledge from someone who may have used it themselves before and hear the results.

Thank you for the quick response.

 

"Transfer it to your Bank Account before giving me the Gold."

Then your account will probably go into a negative balance, and if it's anything similar to PayPal, you'll have your account limited until you repay it, and eventually, the balance will go to a debt collector.

Not worth the hassle.

 

AFAIK Venmo is operated through Paypal anyways so it's no safer than PP is. You can also link up a Credit Card to venmo and send funds that way so it's not like the buyer is forced to pay from their bank account, so the typical "call the CC company and report fraud" can still occur.