Venmo?
- mattcantwin
- mattcreatestonsofwatchrelateddrama
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Venmo?
Is Venmo a safe form of payment?
Potential buyer explained it to me as follows:
Venmo is from PayPal, used for sending cash to friends for things.
You just download it and add a bank account, when I send you money you can just transfer to your bank.
You can look it up to find out more, it’s widely used.
I've never linked a bank account to PayPal before, a bit leery about that.
Potential buyer explained it to me as follows:
Venmo is from PayPal, used for sending cash to friends for things.
You just download it and add a bank account, when I send you money you can just transfer to your bank.
You can look it up to find out more, it’s widely used.
I've never linked a bank account to PayPal before, a bit leery about that.
Re: Venmo?
Did he at all suggest he’s against a more common form of payment such as PayPal? Usually a red flag for me
Many will register, few will last
Re: Venmo?
Venmo has a 2999.99 limit per week FWIW.
A scammer can attempt to use the "someone hacked my account" excuse just like with Paypal F&F.
A scammer can attempt to use the "someone hacked my account" excuse just like with Paypal F&F.
- mattcantwin
- mattcreatestonsofwatchrelateddrama
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- hollywoodphil
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Re: Venmo?
I payed for something this year through Venmo - can't recall exactly what at the moment, but probably a watch - and the sky didn't fall.
I read a review or two before I went through with it - CNET, I think, was one - and they said it's legit.
I don't remember it as being connected to PayPal, though.
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I read a review or two before I went through with it - CNET, I think, was one - and they said it's legit.
I don't remember it as being connected to PayPal, though.
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- toxicavenger
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Re: Venmo?
check this out matt https://www.dailydot.com/debug/is-venmo-safe/
to cover processing costs, Venmo charges a 3% fee for payments by credit card. In comparison, Venmo's parent company, PayPal charges a 2.9% fee for all debit and credit card transactions.
to cover processing costs, Venmo charges a 3% fee for payments by credit card. In comparison, Venmo's parent company, PayPal charges a 2.9% fee for all debit and credit card transactions.
Website: http://smallwhitestubbies.com/
- unixshrk
- This. Truth.
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Re: Venmo?
We pay the guy who mows the lawn with it. No further experience.
- toxicavenger
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Re: Venmo?
1) Buyer and seller protection
Venmo does not offer the same level of buyer and seller protection as its sister app, PayPal. That’s because it’s designed specifically to be used only between friends, or through Venmo-approved apps and websites that enable it to handle payments. According to its terms, “Venmo may not otherwise be used to receive business, commercial or merchant transactions, meaning you CANNOT use Venmo to accept payment from (or send payment to) another user for a good or service.”
Venmo explicitly warns that if you send a Venmo payment for a good or service, “you could lose your money without ever getting what you paid for.” Venmo does not offer any sort of protection program for this kind of transaction.
Venmo does not offer the same level of buyer and seller protection as its sister app, PayPal. That’s because it’s designed specifically to be used only between friends, or through Venmo-approved apps and websites that enable it to handle payments. According to its terms, “Venmo may not otherwise be used to receive business, commercial or merchant transactions, meaning you CANNOT use Venmo to accept payment from (or send payment to) another user for a good or service.”
Venmo explicitly warns that if you send a Venmo payment for a good or service, “you could lose your money without ever getting what you paid for.” Venmo does not offer any sort of protection program for this kind of transaction.
Website: http://smallwhitestubbies.com/
- unixshrk
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Re: Venmo?
That settles that pretty clearly.toxicavenger wrote:1) Buyer and seller protection
Venmo does not offer the same level of buyer and seller protection as its sister app, PayPal. That’s because it’s designed specifically to be used only between friends, or through Venmo-approved apps and websites that enable it to handle payments. According to its terms, “Venmo may not otherwise be used to receive business, commercial or merchant transactions, meaning you CANNOT use Venmo to accept payment from (or send payment to) another user for a good or service.”
Venmo explicitly warns that if you send a Venmo payment for a good or service, “you could lose your money without ever getting what you paid for.” Venmo does not offer any sort of protection program for this kind of transaction.
- mattcantwin
- mattcreatestonsofwatchrelateddrama
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Re: Venmo?
Without an extensive search, I found this:
Unfortunately, Venmo payments you receive can be reversed after they hit your account.
When you receive a payment, it looks as if the transaction is complete: The money appears in your Venmo account instantly, and you might even be able to use the funds. However, that money is only made available under the assumption that everything is fine.
If it turns out that there’s a problem, the payment will be reversed, and you’re responsible for that money. If you haven’t used the funds, Venmo will take the money back. If you already spent the money, you’ll need to replace it.
Doesn't sound so safe.
Unfortunately, Venmo payments you receive can be reversed after they hit your account.
When you receive a payment, it looks as if the transaction is complete: The money appears in your Venmo account instantly, and you might even be able to use the funds. However, that money is only made available under the assumption that everything is fine.
If it turns out that there’s a problem, the payment will be reversed, and you’re responsible for that money. If you haven’t used the funds, Venmo will take the money back. If you already spent the money, you’ll need to replace it.
Doesn't sound so safe.
- mattcantwin
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Re: Venmo?
I get leery on the idea someone would offer an alternative financial transaction service in order to get a discount. I guess if you were first saying "PayPal" and they said "Venmo will save you $100" I'd understand (still not agree given the lack of protection), but it sounds like you were already asking for a money order.
When it comes to selling (and I'll be doing a fall cleaning soon) I think I'll just follow Brice's path with the wire transfers. He's got a ton more experience than me on the subject so there is no sense in reinventing the wheel.
When it comes to selling (and I'll be doing a fall cleaning soon) I think I'll just follow Brice's path with the wire transfers. He's got a ton more experience than me on the subject so there is no sense in reinventing the wheel.
Re: Venmo?
We definitely need a better alternative to Paypal, but Venmo isn't it
- logan2z
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Re: Venmo?
Bank. Wire.
Re: Venmo?
My son uses it at college, it’s very popular there—he and his roommates use it to pay each other for shared expenses. I’ve never heard of it being used as a PP-type service. I’d pass.
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Re: Venmo?
It's fine for friends and family and people you trust but there is absolutely no buyer or seller protection. The same as PayPal friends and family. All they have to do is tell their bank that is was a fraudulent transaction and it gets reversed and there is nothing you can do
- Erratic101
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Re: Venmo?
My bank account is linked to my PayPal. It makes it easy for me to transfer money back to my bank account.mattcantwin wrote:
I've never linked a bank account to PayPal before, a bit leery about that.
Venmo was created and owned by PayPal. It has more of a social media following. Other people can see what you bought and how much you paid. It’s weird.
It does have monetary limits. And I believe a sender can pull there money back up to 72hrs.
Re: Venmo?
I mainly use it with people I trust and even then it's mostly for smaller transactions like splitting a bill or something.
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