Stay Safe When Sending Money

Messages often request immediate payment or tell you to click on a link to get paid. This phishing scam can also be disguised as a notification from Venmo that you’ve won a gift or some kind of prize. The process is the same: Click a fake link, log in to a fake version of Venmo, and your information is stolen.

How to avoid this scam:

If you receive a message claiming to be from Venmo, do not click any links. Instead, visit Venmo.com or log into the Venmo app on your phone and verify payment requests or receipts through these access points.

These messages contain a fake Venmo link that directs you to a fake Venmo page; If you log in here, the scammer can steal your information and access your account.

Generally, Venmo never contacts you outside of the app, other than simple notifications or offers.

2. Online Purchase Scam

This is one of the easiest scams in the book. You find an item you want to buy online, such as on Facebook Marketplace, eBay, or Offerup, or someone contacts you to sell an item and you agree to purchase it. They ask you to Venmo the money, then they will mail you the item but never ship it.

Buying physical items online is always difficult. Some marketplace websites charge high fees to use their native purchasing processes, and while Venmo does not charge any fees for personal transfers, using it for this purpose can be risky.

How to avoid this scam:

It is often worth using local payment methods of the online market. Most hold your money until the purchased item is shipped and may also offer purchase protection such as money-back guarantees or transaction dispute options.

3. Fake or Copied Profile Scam

Fake profiles are common on Venmo because anyone can create an account (or multiple accounts) with minimal information. In this scam, scammers create fake profiles with names that resemble real, active profiles. For example, if “janedoe1050” is active on Venmo and frequently receives money, scammers might create profiles named “janedoe1050,” “janedoe.1050,” or “janedoe1O5O.”

Their goal is to trick people into sending money to one of their accounts instead of the intended account. The scammer usually uses some social engineering techniques and targets friends and relatives of the fake account owner.

How to avoid this scam:

Always double-check the Venmo username you send money to and verify with the recipient if necessary. Venmo also has a verification feature that asks you to enter the last four digits of the recipient’s phone number for account holders who add their phone number to Venmo.

4. Venmo Support Scam

Scammers may contact you via email, text, or phone call, pretending to be a Venmo support representative. They will claim to be from Venmo customer support, ask you to verify your Venmo login information, ask you to provide banking information, or ask you to send money to a Venmo account to resolve an issue or dispute with your account. Once information or money is sent, they will take it and run.

How to avoid this scam:

Never share your Venmo login information over the phone, email, or text. Also, never access any website other than Venmo.com.

If someone contacts you and asks for details about your account, do not share them. Instead, log in to your Venmo account and contact customer service to report suspicious activity and verify if you need to resolve a legitimate issue.

5. Personally Borrowed Phone Scam

This scam involves someone approaching you in public and asking to use your phone, claiming that their phone is dead, left at home, or lost. When you accept, they pretend to call and say the other person didn’t pick up the phone. They then ask if they can send a text message, and if you accept, they open your Venmo app instead and send money to their account. Then they close Venmo, give your phone back, and walk away.

How to avoid this scam:

This scam is tricky because it takes advantage of our desire to help others in their time of need. It is also an environment where we do not expect fraud to occur, both in a face-to-face and public setting.

If someone asks to borrow your phone, pay attention to what they do. You can call or text them, or at least open the phone or messaging app, before giving them your phone.

6. Romance Scam

While this isn’t entirely a Venmo scam, perpetrators use tools like Venmo to do it. In romance scams, your interest in another city, state, or country contacts you and you start an online relationship. Then, when it’s time to visit you and meet in person, they’ll ask for help with gas, plane tickets, or another transportation option.

You Venmo them the money, excited at the prospect of finally meeting up, but they stop responding and probably block you. They take your money and you may never hear from them again.

How to avoid this scam:

In general, it’s not a good idea to send money to people you haven’t met in person. If you want a long-distance love to visit you, consider offering to cover travel expenses after you meet, rather than sending them money upfront.