Can I get your thoughts on using VENMO to pay?

[AZPhil]

Hello All,
I was being offered an item on Facebook. When I asked about paying with Paypal, Seller suggested VENMO. Which looks like it is attached to my Paypal account, But I have never used this service.
If you have and experience with VENMO, Could I get your thoughts about this service?

Semper Fi
Phil

[Chopperman]

I've never even heard of it.

[MAP]

Venmo is quite popular. Many people use it to pay babysitters, pizza delivery, splitting the dinner check, etc.....it's like a direct debit to you account. Basically it's a smart phone app. My nephews and nieces use it all the time. I don't use it so don't know what protections it offers but I think once you send the money, there is no purchaser protection

Product

[John4022]

Never heard of it either.

Heres a good explanation I found online: (How Safe Is Venmo and Is It Free?)

"Venmo can be understood as a middleman between the bank accounts of its users. When you send money to a friend using Venmo, it doesn’t go directly to your friend’s bank account. First, it goes to Venmo. The app then lowers your Venmo balance and raises your friend’s balance to reflect the payment. However, the money doesn’t actually leave your bank account until your friend transfers his Venmo balance to his bank account. This means that you and your friend can send money back and forth on Venmo without either bank account balance ever actually changing. Only the Venmo balances fluctuate."

The site also says, "Only use Venmo to exchange funds with people you actually know. Do not use Venmo to purchase things from individuals you have never met or have met online."

I personally wouldn't use this app for transactions. If I was in your situation, I'd stick to my guns and offer PayPal. If hes serious about selling I dont see why he'd turn you down unless hes up to no good.

[AZPhil]

Thank you Gent's,
Yeah I don't know this guy. It also seems like a REALLY good deal, So now I'm think, if its too good to be true. It probably is!!!

I think I'll send him that quote john!!
Thanks again Guy's.

Semper Fi
Phil

[Adravor]

Yeah, the internet is full of frauds... just yesterday someone wanted to sell me 2 deactivated K98k for 350€, i got suspicious and used googel to track back the images he sent me. Of course they where just picked out of googel images, a bit resized and then send to me... confronted with the fraud he just said i would be crazy and he never answerd again.