Author Topic: Venmo- reversed payment  (Read 5173 times)

Offline mimb

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Venmo- reversed payment
« on: December 17, 2020, 04:17:06 PM »
Unfortunately got scammed.

I sold an item to a person off FB marketplace and he paid me via Venmo (which I assumed does not allow reversing transfers). The next day the I noticed the person started blocking my text messages and FB messages. A few hours later I got an email from Venmo saying that the transaction was flagged because it went against their terms of service (for using it for biz) and they reversed the transaction that was pending deposit into my ACH account.

I've tried calling Venmo, who's call center is conveniently closed due to COVID, and their chat is not very helpful. They are basically washing their hands from this whole incident saying that the service is only meant to send money to people you know and not for any selling.

Wondering if anyone else had dealt with this kind of situation and had any advice dealing with Venmo. I filed a police report but I know they won't be going after the guy.

Offline Aerial Dag

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Re: Venmo- reversed payment
« Reply #1 on: December 17, 2020, 04:25:17 PM »
Oh man that's tough.
If business transactions aren't allowed, why did they allow the transaction to be reversed? Seems to me like they should have said that the sender was SOL for sending money in a business transaction.

Offline mimb

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Re: Venmo- reversed payment
« Reply #2 on: December 17, 2020, 04:42:14 PM »
Oh man that's tough.
If business transactions aren't allowed, why did they allow the transaction to be reversed? Seems to me like they should have said that the sender was SOL for sending money in a business transaction.

This is exactly what I'm trying to figure out but Venmo is refusing to discuss any details. I've become so fed up with trying to chat their representatives and the secrecy with which they operate.

Offline avromie7

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Re: Venmo- reversed payment
« Reply #3 on: December 17, 2020, 06:08:30 PM »
This is exactly what I'm trying to figure out but Venmo is refusing to discuss any details. I've become so fed up with trying to chat their representatives and the secrecy with which they operate.
This sounds like a good reason to file a complaint against Venmo with the AG
I wonder what people who type "u" instead of "you" do with all their free time.

Offline Yo ssi

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Re: Venmo- reversed payment
« Reply #4 on: December 17, 2020, 06:11:54 PM »
It's a standard common scam, it's been forever known not to use any peer to peer payment apps for business use that's the risk you took. IINM you won't get your money back.

https://help.venmo.com/hc/en-us/articles/360048404533-Common-Scams-on-Venmo
https://www.consumerreports.org/scams-fraud/how-to-protect-yourself-from-p2p-payment-scams/
https://www.blackhawkbank.com/cash-app-scams-are-on-the-rise
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Offline Mf1

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Re: Venmo- reversed payment
« Reply #5 on: December 17, 2020, 07:08:10 PM »
This sounds like a good reason to file a complaint against Venmo with the AG
It prob still doesnt hurt to try and file a complaint

Offline myi

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Re: Venmo- reversed payment
« Reply #6 on: December 18, 2020, 03:50:48 AM »
Unfortunately got scammed.

I sold an item to a person off FB marketplace and he paid me via Venmo (which I assumed does not allow reversing transfers). The next day the I noticed the person started blocking my text messages and FB messages. A few hours later I got an email from Venmo saying that the transaction was flagged because it went against their terms of service (for using it for biz) and they reversed the transaction that was pending deposit into my ACH account.

I've tried calling Venmo, who's call center is conveniently closed due to COVID, and their chat is not very helpful. They are basically washing their hands from this whole incident saying that the service is only meant to send money to people you know and not for any selling.

Wondering if anyone else had dealt with this kind of situation and had any advice dealing with Venmo. I filed a police report but I know they won't be going after the guy.

A scammer may pay you using stolen credit cards or bank information. If the actual owner of the payment method reports unauthorized activity, the money could be removed from your Venmo account
How to avoid this scam: Don’t use Venmo to sell anything to strangers. If someone has paid you on Venmo, you should see the funds available in your Venmo account without any delay. But remember, payments made from stolen payment methods could be removed from your Venmo account even after they’ve been made available to you.


The funds came through already?

 He must have called and claimed his account was hacked.

 Wonder if one can do the same with chase qp and td send money and all the other zelle banks?
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Offline myi

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Re: Venmo- reversed payment
« Reply #7 on: December 18, 2020, 03:55:09 AM »
Unfortunately got scammed.

I sold an item to a person off FB marketplace and he paid me via Venmo (which I assumed does not allow reversing transfers). The next day the I noticed the person started blocking my text messages and FB messages. A few hours later I got an email from Venmo saying that the transaction was flagged because it went against their terms of service (for using it for biz) and they reversed the transaction that was pending deposit into my ACH account.

I've tried calling Venmo, who's call center is conveniently closed due to COVID, and their chat is not very helpful. They are basically washing their hands from this whole incident saying that the service is only meant to send money to people you know and not for any selling.

Wondering if anyone else had dealt with this kind of situation and had any advice dealing with Venmo. I filed a police report but I know they won't be going after the guy.
In the future for a total stranger it's worth every penny to do the transaction with PayPal.
   Goods and services.
 That way you can provide tracking info and whatever to show you sent the item.

 Just curious was it a physical item?
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Offline mimb

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Re: Venmo- reversed payment
« Reply #8 on: December 18, 2020, 11:32:01 AM »
In the future for a total stranger it's worth every penny to do the transaction with PayPal.
   Goods and services.
 That way you can provide tracking info and whatever to show you sent the item.

 Just curious was it a physical item?

Yes lessons learned for the future, cash or paypal goods and services. Although with the horrific customer service of Venmo, I will just stick to cash going forward.

And yes it was a physical item.

Offline mimb

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Re: Venmo- reversed payment
« Reply #9 on: December 18, 2020, 11:33:07 AM »
A scammer may pay you using stolen credit cards or bank information. If the actual owner of the payment method reports unauthorized activity, the money could be removed from your Venmo account
How to avoid this scam: Don’t use Venmo to sell anything to strangers. If someone has paid you on Venmo, you should see the funds available in your Venmo account without any delay. But remember, payments made from stolen payment methods could be removed from your Venmo account even after they’ve been made available to you.


The funds came through already?

 He must have called and claimed his account was hacked.

 Wonder if one can do the same with chase qp and td send money and all the other zelle banks?

I received the funds in my Venmo account and had already started the process of transferring to my bank account. Venmo reversed it at that point and even removed it from my Venmo balance.

Offline AJK

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Re: Venmo- reversed payment
« Reply #10 on: December 18, 2020, 12:01:24 PM »
Do you have buyer's info? Name and address? Phone number?

I'd do a bit of google sleuthing and them sue him in small claims. I'd also let him know you plan to (or already have) reported him to the police.
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Offline myi

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Re: Venmo- reversed payment
« Reply #11 on: December 18, 2020, 12:26:17 PM »
I received the funds in my Venmo account and had already started the process of transferring to my bank account. Venmo reversed it at that point and even removed it from my Venmo balance.
Gave him the item in person? Shipped to him?
 Stop the packages?
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Offline mimb

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Re: Venmo- reversed payment
« Reply #12 on: December 18, 2020, 02:18:08 PM »
Do you have buyer's info? Name and address? Phone number?

I'd do a bit of google sleuthing and them sue him in small claims. I'd also let him know you plan to (or already have) reported him to the police.

I have a phone number and likely a fake name that's listed on Facebook so no way to really track him down. Police said they aren't really going to go after the guy because of the value of the item ($360).
« Last Edit: December 18, 2020, 02:21:58 PM by mimb »

Offline mimb

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Re: Venmo- reversed payment
« Reply #13 on: December 18, 2020, 02:18:46 PM »
Gave him the item in person? Shipped to him?
 Stop the packages?

Gave it to him in person. He sent the Venmo and everything seemed legitimate at that time.

Offline myb821

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Re: Venmo- reversed payment
« Reply #14 on: December 18, 2020, 02:20:37 PM »
Gave it to him in person. He sent the Venmo and everything seemed legitimate at that time.
I would use another facebook account to try and sell him something get him to meet and have the cops show up.

Offline AJK

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Re: Venmo- reversed payment
« Reply #15 on: December 18, 2020, 03:03:27 PM »
I have a phone number and likely a fake name that's listed on Facebook so no way to really track him down. Police said they aren't really going to go after the guy because of the value of the item ($360).

He must have had to use real info when signing up for venmo, I'd imagine... does his venmo name match his fbook name?
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Offline mimb

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Re: Venmo- reversed payment
« Reply #16 on: December 18, 2020, 03:26:58 PM »
He must have had to use real info when signing up for venmo, I'd imagine... does his venmo name match his fbook name?

No the venmo name doesn't match his name. Looks to be from some other account

Offline AJK

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Re: Venmo- reversed payment
« Reply #17 on: December 18, 2020, 03:45:35 PM »
No the venmo name doesn't match his name. Looks to be from some other account

See if you can track that person down.
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