11 Most Common Venmo Scams (and How to Avoid Them)
Peer-to-peer payment apps like Venmo offer an easy way to send money to friends and family and businesses selling goods and services, but that simplicity makes them a target for scams involving theft and fraud.
Here are the most common Venmo scams to watch out for.
Wrong payment fraud
If you “accidentally” received money you weren’t expecting from someone you don’t know, it’s not really an accident . Scammers will check you on Venmo, claim it was a mistake, and ask for your money back as a new payment. It may seem harmless, but scammers typically charge so-called erroneous charges to stolen credit cards and then connect their personal cards to receive counter charges. If initial payments are reversed when a card is reported stolen, the money will be released 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 affecting your account. You should also block the user who sent the payment.
Impersonation fraud
Fraudsters may try to trick you into sending a payment by pretending to be someone you know. They might change their username or profile picture to match someone on your public feed—if your Venmo transactions aren’t private, stop right now and change that setting —so you don’t suspect anything is wrong. Often these payment requests are unexpected and seem urgent.
If you receive a payment or payment request that you weren’t expecting or that seems urgent, tap your profile picture to view your account and verify your identity. You should also message the person outside of Venmo to clarify the request before sending any money.
Tech support scam
If you contact tech support (for anything, not just Venmo), you should never send money through Venmo for that service. Fraudsters can spoof phone numbers and pretend to be technical support staff, whose help is almost always free. Venmo warns that attackers may try to scam you using something like this:
“Hello, thanks for calling (primary company name) support. Andrew is here, ready to help! Before we get started, I’ll need to accept your payment for our help today. Do you have a Venmo account? If not, I’d be happy to help you create one!”
Always find a company’s contact information directly on its website by entering the URL rather than clicking on it in search results (where results can be spoofed), and never send Venmo a payment for these services.
Venmo Text/Call Scams
Likewise, scammers may contact you by phone or text message posing as a Venmo customer service representative. They may tell you that there has been unauthorized activity on your account and ask you to sign in using a link they sent you or provide a multi-factor authentication code . This is a phishing scam because Venmo will never ask for verification codes or request remote access to your account. You should also be skeptical of any message that asks you to install a third-party app, send a payment, or confirm a new account. Never click on links in unsolicited messages.
Instead, contact Venmo support directly to confirm any requests and report fake or suspicious text messages and emails .
Prize scam
If you receive a text message or email saying you won money from Venmo, it’s a scam. This phishing attack involves a fraudulent link to log into your Venmo account, which passes your information directly to the scammers. Never enter your Venmo login anywhere other than Venmo.com or the Venmo app (which you should always go to directly, not through an unsolicited link), and don’t give out your information to anyone unless you contact Venmo support directly.
Fake donation scam
Donating to a cause or group you care about is great, but scammers take advantage of it by spreading fraudulent Venmo accounts and fundraising in the name of other people or organizations. Before you send money, make sure the account belongs to the organization and don’t just rely on social media links. You should also explore the best way to support organizations and contribute directly from their website or social media accounts.
Romance scam
Romance scams are a long game: Scammers create fake social media profiles and try to build a relationship with you, gain your trust, and ask for money through Venmo. This scam plays on your emotions, and the requests are often related to the cost of traveling to you or potential investment opportunities. Be wary of people who approach you online to create an emotional connection, and never lend money to someone you’ve never met in real life.
Job offer scam
If you receive an unsolicited message from a recruiter with a job offer, it’s definitely a scam . Sometimes these offers come with a request to pay an upfront registration fee or transfer money using your Venmo account. Obviously this is wasted money. Ignore these messages – do not reply or click on any links.
A similar scam is a message from a potential landlord asking for a security deposit before you sign a lease.
Purchase fraud
If you buy or sell goods and services using Venmo payments, beware of the tactics scammers use to steal money. They may ask you to pay upfront and then never ship you the promised item, or they will 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 purchase protection.
To avoid this scam, only buy from Venmo-approved business accounts—under the Checkout button, you’ll see a message that says “Eligible Purchase Protection Items.” If you are paying for a personal profile, be sure to mark it as a purchase.
When selling, do not ship items without receiving legitimate payments, even if the buyer shows you screenshots of supposed Venmo transactions (which are actually fake invoices). Fraudsters may “accidentally” overcharge you (using a stolen card or bank account) for a purchase and ask you to pay back the extra amount – just like with the mistaken payment scam, you’ll end up on the hook.
Paper check fraud
Scammers may send you a paper check and ask you to send them payment via Venmo. The check may even be voided when you deposit it, but it will later be bounced, so you will run out of funds that you cannot return. Do not exchange other forms of payment for Venmo payments.
“Too Good to Be True” Scam
While these are some of the most common ways Venmo is used by scammers, there may be others. For example, be careful about using Venmo to pay for hard-to-find items, such as concert tickets or rare collectibles, advertised on other platforms, as it may be a scam where the payment is not exchanged for anything. Also, don’t pay for gift cards or investments through Venmo.
How to protect yourself
All fraud prevention rules apply to Venmo: don’t click on links in unsolicited messages, don’t share your account information with people you don’t know, and don’t send payments to strangers. Beware of messages that evoke emotion or a sense of urgency that may 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 make sure all your transactions are private—no one needs to see your payment history. Set up two-factor authentication for your Venmo account to prevent unauthorized logins (but be aware that these codes can also be phishing scams ). Regularly review your financial reports, including your credit report and bank statements, to quickly identify possible theft and fraud.