Facebook Marketplace Venmo Scams – How To Avoid Them

If you’re looking for a bargain on Facebook Marketplace, you might be tempted to pay with Venmo, a popular app that lets you send and receive money instantly. But before you do, you should be aware of the risks involved. Venmo is not designed for buying and selling goods and does not offer buyer or seller protection. That means if you pay someone on Venmo for an item that never arrives, or if you sell something and the buyer reverses the payment, you could lose your money and your merchandise. In this article, we’ll explain how Facebook Marketplace Venmo scams work, how to spot them, and how to avoid them. We’ll also share tips on using Venmo safely and securely and what to do if you become a scam victim.

What are Facebook Marketplace Venmo Scams?

Venmo scams on Facebook Marketplace are schemes where the scammer pretends to be a buyer and asks to pay using Venmo. They may use various tactics to convince the seller to accept Venmo as a payment method, such as offering a higher price, claiming to be in a hurry, or saying they are out of town. However, once the seller agrees to use Venmo, the scammer will either:

• Send fake screenshots or emails that look like they have sent the payment but have not. They will then ask the seller to ship the item or provide a tracking number before the payment appears in their Venmo account.
• Send multiple payments of small amounts (less than $100) that add up to the item’s total price. The seller may think the payments are legitimate but made with stolen bank accounts or credit cards. Venmo or the bank will eventually reverse the payments, leaving the seller with no money or item.
• Send a payment larger than the item’s agreed price. The scammer will then claim they made a mistake or included extra money for shipping. They will then ask the seller to refund the difference using Venmo or another method. However, the original payment was made with a fake check or a stolen account, which will bounce or be reversed later.
• Send a fake email pretending to be from Venmo, telling the seller that they need to upgrade their account or pay a fee to receive the payment from the buyer. The email will ask the seller to provide their Venmo login information or send money to another account. However, this is just a phishing attempt to steal the seller’s credentials and money.

How to avoid Venmo scams on Facebook Marketplace?

To avoid falling victim to Venmo scams on Facebook Marketplace, you should follow these tips:

• Always meet the buyer in person and exchange the item and the payment simultaneously. This is the safest way to ensure you get your money and avoid disputes or chargebacks.
• If you have to use an online payment method, use one that offers protection for sellers, such as PayPal Goods and Services. Venmo offers no seller protection and explicitly warns users not to use it for transactions with strangers.
• Never trust screenshots, emails, or messages that claim to show proof of payment. Always check your Venmo account or app to verify that you have received the money before shipping the item or providing any service.
• Never send money back to a buyer who overpays or claims to have made a mistake. This is a common sign of a scam, and you will lose both your money and your item if you do so.
• Never click on any links or attachments in emails that claim to be from Venmo. Always visit the official website or app to check your account status or contact customer support. Scammers may use fake emails to phish for your personal information or infect your device with malware.
• Report any suspicious activity or messages to Facebook and Venmo. You can also block or report any users who try to scam you on Facebook Marketplace.

What types of Venmo scams are there?

There are different types of Venmo scams on Facebook Marketplace, but they all have one thing in common: they try to trick you into sending money or goods without receiving anything in return. Some of the most common types of Venmo scams are:

Fake payment scams: The scammer sends fake screenshots or emails that look like they have paid you using Venmo but have not. They will then pressure you to ship the item or provide a service before you see the money in your account.

Stolen account scams: The scammer sends multiple payments of small amounts using stolen bank accounts or credit cards. They will then ask you to ship the item quickly before Venmo or the bank notices the fraud and reverses the payments.

Overpayment scams: The scammer sends a payment larger than the item’s agreed price. They will then claim they made a mistake or included extra money for shipping. They will then ask you to refund the difference using Venmo or another method.

Phishing scams: The scammer sends a fake email pretending to be from Venmo, telling you that you need to upgrade your account or pay a fee to receive the payment from the buyer. They will then ask you to provide your Venmo login information or send money to another account.

How to sell on Facebook Marketplace using Venmo?

Selling on Facebook Marketplace using Venmo is not recommended, as Venmo does not offer any protection for sellers. Venmo is designed to send money to friends and family, not buy and sell goods or services with strangers. If you use Venmo for transactions on Facebook Marketplace, you are taking a risk and exposing yourself to potential scams and fraud.

However, if you still want to use Venmo for selling on Facebook Marketplace, you should follow these precautions:

• Only accept Venmo as a payment method from buyers you know and trust. Do not use Venmo for transactions with strangers or people you have never met.
• Always meet the buyer in person and exchange the item and the payment simultaneously. Do not ship the item or provide any service until you have received the money in your Venmo account.
• Verify the identity of the buyer and their Venmo account. Ask them to show you their ID and Venmo app with their username and profile picture. Ensure they match the person you are dealing with and the account they use to pay you.
• Check your Venmo account or app to confirm that you have received the payment. Do not trust screenshots, emails, or messages that claim to show proof of payment. They may be fake or altered by the scammer.
• Do not return money to a buyer who overpays or claims to have made a mistake. This is a common sign of a scam, and you will lose both your money and your item if you do so.
• Do not click on links or attachments in emails that claim to be from Venmo. Always visit the official website or app to check your account status or contact customer support. Scammers may use fake emails to phish for your personal information or infect your device with malware.
• Report any suspicious activity or messages to Facebook and Venmo. You can also block or report any users who try to scam you on Facebook Marketplace.

Case Studies

Facebook Marketplace is a popular platform for buying and selling goods, but it also attracts scammers who use Venmo to trick unsuspecting sellers. Here are some real-life examples of users who fell victim to this scam and how it affected them.

John, a photographer from San Diego, was selling his camera gear on Facebook Marketplace for $150. He received a message from a buyer who offered him $200 and asked him to pay via Venmo. John agreed and gave his Venmo username to the buyer. The buyer then sent him a fake screenshot of a Venmo payment error, saying that he needed John’s email address to complete the transaction. John gave his email address and received a fake email from Venmo, asking him to upgrade his account and pay a fee to receive the payment. John followed the instructions and sent $50 to the buyer via Venmo, only to realize that he never received any money from the buyer and lost his camera gear as well.

Lisa, a college student from New York, was selling her laptop on Facebook Marketplace for $300. She got a message from a buyer who said he was interested and wanted to pay with Venmo. Lisa agreed and gave her Venmo username to the buyer. The buyer then sent her multiple payments of less than $100 each, totaling $300. Lisa checked her Venmo balance and saw that the money was there, so she met up with the buyer and handed over the laptop. However, later she found out that the payments were reversed by Venmo, because they were made with a stolen credit card. Lisa lost both her money and her laptop.

Mike, a musician from Chicago, was selling his guitar on Facebook Marketplace for $250. He got a message from a buyer who said he liked the guitar and wanted to pay with Venmo. Mike agreed and gave his Venmo username to the buyer. The buyer then sent him a check for $350, saying that it was a mistake and that he needed Mike to refund him the extra $100 via Venmo. Mike deposited the check and sent the $100 to the buyer via Venmo, thinking that he still made a profit of $150. However, a few days later, he learned that the check was fake and bounced, leaving him with no money and no guitar.

FAQs: Facebook Marketplace Venmo Scams

1. Can a seller get scammed on Venmo?

Yes, sellers can be vulnerable to scams on Venmo. Scammers may use fake payment confirmations, chargebacks, or unauthorized transactions, leaving sellers without their product or payment. It’s essential for sellers to verify payments and ensure they follow secure transaction practices.

2. How to tell if a buyer is scamming you on Facebook Marketplace?

Look out for the following signs:

• Unrealistic offers: Be cautious of buyers offering significantly more than the item’s value.
• Communication issues: Watch for poor grammar, unusual requests, or inconsistent information.
• Payment red flags: Be wary of requests to use unconventional payment methods or requests for personal information.
• Reluctance to meet in person: Genuine buyers typically agree to meet in a public place to inspect and purchase the item.

3. What are common scams on FB Marketplace?

Common scams include:

• Fake product listings: Scammers create enticing listings for non-existent products to trick buyers.
• Phishing scams: Scammers impersonate sellers, attempting to trick buyers into paying outside of the platform.
• Non-delivery scams: Sellers receive payment but fail to deliver the promised product or service.

4. What is the safest way to accept payment on Facebook Marketplace?

The safest way to accept payment is to use:

• In-person cash transactions: Meet the buyer in a safe, public location and accept cash.
• Platform-approved payment methods: Use Facebook’s integrated payment system or other secure methods supported by the platform.
• Avoid wire transfers or gift cards: Refrain from accepting payment through methods that lack buyer protection.

Conclusion

Facebook Marketplace is a great platform for buying and selling goods online, but it comes with risks and challenges. One is the possibility of encountering scammers who use Venmo, a peer-to-peer payment app, to cheat you out of your money or items. To avoid falling victim to Facebook Marketplace Venmo Scams, you should always meet the buyer in person and exchange the item and the payment simultaneously. If you have to use an online payment method, use one that offers protection for sellers, such as PayPal Goods and Services. Never trust screenshots, emails, or messages that claim to show proof of payment. Always check your Venmo account or app to verify that you have received the money before shipping the item or providing any service. Never send money back to a buyer who overpays or claims to have made a mistake. Never click on any links or attachments in emails that claim to be from Venmo. Report any suspicious activity or messages to Facebook and Venmo.