In a support article, Venmo lists common scams on its platform, along with tips for keeping your money secure. “Remember: Outside of paying authorized merchants, Venmo is designed for payments between friends and people who trust each other,” the company says.
One such scam is a scheme in which someone asks for a small amount of money in exchange for a large amount down the line… and then never pays. “If it seems too good to be true, it probably is,” Venmo advises.
Also, the company says that people try to scam Venmo sellers by sending screenshots of fake email receipts from Venmo payments. They claim that the payment will go through after the item is ships or they pay with stolen credit cards or ill-gotten bank information. “Don’t use Venmo to sell anything to strangers,” Venmo says.
People try to scam Venmo buyers by demanding full or partial payment upfront and then not delivering the good or service, or providing fake shipping information. “Don’t use Venmo to buy anything from anyone you don’t know and trust,” the company says.
Scammers also impersonate users’ friends by changing their usernames and profile photos. They use information from transactions in those friends’ public feed and send urgent requests for money. When in doubt, the company says, contact your friend outside of Venmo and ask about the request.