Peer-to-peer payment apps like Venmo offer an easy way to send money to friends and family as well as businesses selling goods and services—but that ease makes them a target for scams involving theft and fraud.
Here are the most common Venmo scams to watch for.
The mistaken payment scam
If you receive money you weren’t expecting from someone you don’t know by “accident,” it’s not actually an accident. Scammers will Venmo you, claim it was a mistake, and ask for the money back as a new payment. This may seem harmless, but it typically involves scammers charging so-called mistaken payments to stolen credit cards then connecting their personal cards to receive payments in return. If the original payments are reversed when the stolen card is reported, the money will come from your account.
To avoid this scam, don’t send money back to someone you don’t know. Instead, contact Venmo support so they can reverse the charge without compromising your account. You should also block the user who sent the payment.
The impersonation scam
Scammers may try to trick you into sending payments by impersonating someone you know. They may change their username or profile picture to match someone in your public feed—if your Venmo transactions aren’t private, stop right now and change that setting—so you won’t suspect anything is amiss. Often, these payment requests are unexpected and seem time-sensitive.
If you receive a payment or payment request you weren’t anticipating or that seems urgent, tap the profile picture to view the account and confirm their identity. You should also message that person outside of Venmo to clarify the request before sending any money.
The tech support scam
If you reach out to a tech support line (for anything, not just Venmo), you should never send money via Venmo for that service. Scammers may spoof phone numbers and impersonate technical support staff, whose help is almost always free. Venmo warns that bad actors may try to trick you with something that sounds like this:
“Hello, thank you for calling (major company name) Support. Andrew here, ready to help! Before we get started, I will need to take your payment for our assistance today. Do you have a Venmo account? If not, I’d be happy to help you create one!”
Always locate company contact information directly from their website by typing the URL in rather than clicking through from search (where results can be spoofed), and never send a Venmo payment for these services.
The Venmo text/call scam
Similarly, scammers may contact you via call or text pretending to be from Venmo’s support team. They may tell you that there has been unauthorized activity on your account and ask you to log in via a link they send your or to provide your multi-factor authentication code. This is a phishing scam, as Venmo will never ask for verification codes or request to access your account remotely. You should also be skeptical of a message that asks you to install a third-party app, send a payment, or verify a new account. Never click links in unsolicited messages.
Instead, contact Venmo support directly to confirm any requests, and report fake or suspicious texts and emails.
The prize scam
If you receive a text or email saying that you’ve won money from Venmo, it’s a scam. This phishing attack includes a fraudulent link to sign into your Venmo account, which hands your information directly to scammers. Never enter your Venmo login anywhere except Venmo.com or the Venmo app (which you should always navigate to directly rather than via an unsolicited link), and do not provide anyone with your information unless you have contacted Venmo support directly.
The fake donation scam
Donating to a cause or group you care about is great, but scammers take advantage of this by circulating fraudulent Venmo accounts and collecting funds in the name of other individuals or organizations. Before you send money, verify the account belongs to the organization—don’t simply rely on links from social media. You should also research the best way to support and contribute to organizations directly from their website or social accounts.
The romance scam
Romance scams are a long game: fraudsters will create fake social media profiles and work to develop a relationship with you, gain your trust, and ask for money via Venmo. This scam plays on your emotions, and requests are often related to expenses to come visit you or potential investment opportunities. Be wary of people who reach out to you online to create an emotional connection, and never loan money to someone you’ve never met IRL.
The job offer scam
If you receive an unsolicited text from a recruiter with a job offer, it’s definitely a scam. Sometimes, these offers come with requests to pay upfront for onboarding or to move money around using your Venmo account. Obviously, this is money lost. Ignore these messages—don’t respond, and don’t click links.
A similar scam is a message from a prospective landlord requesting a deposit before you’ve signed a lease.
The fraudulent purchase scam
If you’re buying or selling goods and services using Venmo payments, watch out for tactics scammers use to steal money. They may ask you to pay upfront and then never send you the item they’ve promised, or they’ll send you fake shipping information. They may also ask you not to mark the payment as a purchase, which makes the transaction ineligible for Venmo’s purchase protection.
To avoid this scam, only buy from Venmo approved business accounts—you’ll see the message “Eligible items covered by Purchase Protection” under the Pay button. If you pay a personal profile, be sure to mark it as a purchase.
When selling, don’t send items without receiving legitimate payments, even if the buyer shows you screenshots of supposed Venmo transactions (that are actually fake payment invoices). Scammers may “accidentally” send you an overpayment (using a stolen card or bank account) for a purchase and request that you refund the extra—like with the mistaken payment scam, you’ll ultimately be on the hook.
The paper check scam
Scammers may send you a paper check and ask you to send them a payment on Venmo. The check may even clear when you deposit it but will bounce later, so you’re out funds you can’t get back. Don’t exchange other forms of payment for Venmo payments.
Too-good-to-be-true scams
While these are some of the most common ways scammers use Venmo, there may be others. For example, be wary of using Venmo to pay for hard-to-find items—like concert tickets or rare collectibles—advertised on other platforms, as these can be scams that exchange payment for nothing in return. Also, don’t pay for gift card deals or investments via Venmo.
How to protect yourself
All of the rules of scam avoidance apply to Venmo: don’t click links in unsolicited messages or provide your account information to anyone you don’t know, and don’t send payments to strangers. Beware messages that bring up emotions or sense of urgency, which can cloud your judgment in the moment. If something sounds too good to be true, it probably is.
Only use Venmo to pay people you know and trust, and ensure all of your transactions are private—there’s no reason anyone needs to see your payment history. Set up two-factor authentication for your Venmo account to prevent unauthorized logins (but know that these codes are also phishable). Check your financial records, including your credit report and bank statements, regularly to catch possible theft and fraud quickly.
