Venmo as payment

[Joshuajosh]

Hey I’m currently selling a scope in the classfields and I wanted to possibly accept Venmo for payment, is it safe to use for the seller? Can the buyer try to reverse funds or flag them as fraud or is this not possible? I don’t want to have any of that happen after I’ve handed the scope over

 

[Idaho4x4Bronco]

I don't think it's possible to charge back funds like a paypal scam, you can instantly transfer with Venmo. Not saying you can't, but never heard od it and I use venmo daily. Take it with a grain of salt.

 

[clem]

I've done a couple of Venmo deals on the hide. Seems to be accepted there so I'm assuming safe. Zelle also.

 

[DenimChicken]

Very timely. I was going to purchase a scope but seller only would accept Venmo. I’m not familiar enough to know if they offer buyer/seller protections and am pretty leery of digitally transferring a large sum of money to an unknown person.

 

[hunterjmj]

After all the scams I've read about I only sell locally face to face now. Takes a little work but I've sold everything I've listed.

 

[kpk]

I could be wrong - but I don't think Venmo offers protection for either party if something goes wrong. Paypal seems to be much safer for large sums.

 

[DuckDogDr]

I could be wrong - but I don't think Venmo offers protection for either party if something goes wrong. Paypal seems to be much safer for large sums.

This!!
My girlfriend’s Venmo was hacked and someone pulled 5k out of her account. Venmo absolutely refused to even investigate any fraud much less offer protection.
She closed her account that day and hasn’t looked back

 

[Weldor]

Venmo and paypal are owned by the same company. I don't really see any difference between them IMO. I avoid both .

 

[doc holiday13]

I accept all legal forms of payment.

 

[mxgsfmdpx]

This!!
My girlfriend’s Venmo was hacked and someone pulled 5k out of her account. Venmo absolutely refused to even investigate any fraud much less offer protection.
She closed her account that day and hasn’t looked back

Why did she have 5K in a Venmo account?!?!? I transfer it out as soon as it’s in there.

 

[Gutshotem]

If you're using it to avoid the 10-99, make sure the buyer knows not to send the funds as a payment, otherwise you may as well use PP G&S.

 

[fwafwow]

There are other posts on this topic, so apologies for repeating myself.

There is no completely safe form of electronic payment, for the buyer or the seller. So perform due diligence.

There is a Venmo purchase protection option, which can put risk on the seller. Example - you ship and buyer insists the package wasn’t received, or it was empty, etc. Buyer then makes a claim. You could be out the money and your item. Regular Venmo (the equivalent to Friends & Family on PP) does not pose this same risk to you, but many buyers are reluctant to use these because then they aren’t protected.

 

[DuckDogDr]

Why did she have 5K in a Venmo account?!?!? I transfer it out as soon as it’s in there.

Oddly enough red headed step child’s school (technical college) had adopted that as an acceptable form of payment since all of the younger generation likes to use it.

She was getting ready to deposit to the school’s account when it was abducted like a New Mexico cattle farmer

 

[Huskermuledeer]

Why did she have 5K in a Venmo account?!?!? I transfer it out as soon as it’s in there.

Yikes, I would not keep that much in there!

 

[JordanChris20]

I’ve never had any issues with Venmo transactions - that being said I don’t keep the funds in my account after - I just transfer them promptly to my personal banking account.