Venmo Scams: Tips for Selling and Buying Safely

Venmo Scams Tips for Selling and Buying Safely

Venmo scams: With every domain finding elevation with technology, the cash market is shrinking quickly. Venmo is helping people with transactions of money from one trader to the other or person to person or company to person, vice versa and other ways. It is the app for social payments since 2009. 

Thus, it is among the world’s oldest e-wallets making selling and purchasing simple for users. Payment in just a click. However, with every boon comes attached a curse. With the digital revolution of online money transactions, hackers and scammers have got themselves upgraded. 

Once you activate the internet on your phone or desktop, the online thieves get activated and stalk your activities. So, while you make transactions through Venmo, beware of some things mentioned below. 

Paying outside your circle

Digital payments are quick, and everything but come with a peril that your money does not return once it gets into the wrong hands. Venmo is an app that found a place in the market for helping transactions between trusted people, including friends, families, relatives and someone who’s known to you. 

So, before you make a payment to someone, ensure that person is genuine. The responsibility lies solely on you. There are merchants and online shopkeepers who may be fraud or bogus. So, releasing about them is one thing and avoiding through your acumen is other. You should learn to spot them.

  • Do not indulge in pyramid schemes, money circles, discount schemes, voluptuous offers, get rich quickly and other unbelievable things offered by a seller or merchant using the name of Venmo. They all are fake. The payment making company does not guarantee or make such assumptions. 
  • If you are a seller, do not sell your product to a stranger. You may not get paid, and your item would be gone too. So, verify every aspect and information of that person. 
  • Buying anything on Venmo from a person or merchant you do not know can dupe your funds. Do your research and verification checks. If you have an iota of hesitation, avoid any transaction. 

Scammers offering to double your funds on Venmo

There are many scammers on Venmo who may get your number and text you to double your money. They ask for a small amount initially to win your confidence. Some people give them, and others, who spot them, do not get fooled. However, those who believe these scammers lose a lot. These fraudulent double your small amount two or three times in lieu of winning your trust completely. Once that happens, you willing often massive funds without asking the motive and methodology of doubling, driven by greed. That’s where you become a part of a scam on Venmo. 

Notably, there’s no one you can blame because it all happens with your consent. So, even if someone is known to you and forces to get involved in pyramid or cash wheel schemes, do not be part of them. It is noticeable that such fraud schemes are introduced by our relatives or friends knowingly or unknowingly. The onus is on you; how do you handle them while fetching them out of the quagmire of deceit and lies. 

Once you get entrapped, there’s minimal to no chance of retrieving your funds from them. Scammers keep their locations unknown and use hi-tech technology to conceal their identities. 

How to avoid this scam?

You have to file research on your behalf and verify the veracity of a person you are dealing with. You should know what you are indulging in. For anything serious, file a complaint. 

Scams on Venmo while selling products and tips to avoid

Scam does not always happen on the end of a trader. Sometimes a seller may also trick you in many ways. So, while you sell a product to a stranger, keep in mind the following points:- 

  • Remember, you sell something using Venmo, a fraudster will always ask for a sample upfront without making payment for that. It should ring a bell. Do not provide your item. You may be filing for a consequence otherwise. So, avert selling your services or thing without receiving legitimate funds in your account balance. Upon checking, proceed with it. 
  • There may be chances that when you ask for a payment, the scammer may send you a fake receipt or a screenshot of a forged email disclosing the fund’s transfer. Please do not believe that. Check your account balance. Only after receiving it, go ahead and render your services. So, beware of fake promises and payments unless you see them first hand. 
  • One of the smartest games scammers play is telling you that they’ve dispatched the amount in your Venmo account, and you’ll receive that only after your product reaches them. Do not let you fool this way. Do not ship the parcel. Such an element is not there in the feature list of Venmo. So, get yourself on the line and reprimand the fraud buyer. 
  • A scammer can use a stolen debit or credit card and initiate the payment in your Venmo account. If the owner files a complaint with Venmo regarding the illegitimate transaction, the money would be refunded immediately. So, ask for some important details of the payment mode and judge for yourself. A genuine buyer would never be reluctant. 

PS:- So, for avoiding the selling scam, check the balance and, upon verification, advance further. 

Scams while buying on Venmo 

  •  An illegitimate buyer will always persuade you and inflict pressure to make the payment before selling an item. That’s wrong. It should be solely your choice how you wish to pay, and consent is vital in agreement. 
  • Sellers on Venmo may provide a subdued product or service to you as a buyer. But that’s a type of scam. So, you should read a little about the seller for avoiding it. 
  • A piece of shipping information may be dispatched to you. So, always ask for the courier services number and track your product by calling them. 


If you land in a issues related to Venmo scams, seek help from Fast Action Refund (FAR). The website will help you retrieve your funds using the latest technology and superior ideas. Venmo is more than just a payment app. So, chances of frauds and scams get even wider here. You have to be vigilant. Most importantly, you should transact the money with people you know for dismissing any case of losing funds.

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