Anyone Use VENMO For Payment On A Parts Purchase?

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hemi71x

hemi71x

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Anyone use this VENMO payment system for paying for a parts purchase?

I'm after some brake parts listed on a Craigslist ad, and the seller tells me i can pay for them thru VENMO, that he has an account with.

Well, i don't have a VENMO account, and my question would be, should i set myself up with an account to purchase his parts?

Is it like Pay Pal, and just another way to do business between the buyer, and the seller?

Guess if i do, it will bring this 70 year old guy, up into the 21st century. lol

Thank's for any input that you can furnish.
Jim V.
hemi71x
 
As I understand Venmo is just cash exchange like writing a check. No protection at all. Similar to PayPal friends and family.
 
When You're Buying Something From A Stranger
Details:

If you’re trying to buy something using Venmo, a scammer may try and persuade you to pay them first (the full or partial amount) and then not provide what they promised you
This is especially common with items that are rare, popular, and hard to find (like gaming consoles, shoes, concert tickets, mobile devices, and more)
A scammer may give you fake shipping information or screenshots to convince you they’ve sent the item when they actually haven’t.
They may ask you to not mark the payment as a purchase. When you tag a payment to a personal profile as a purchase, your payments for eligible items will be covered by Purchase Protection, and you can contact us afterward if something goes wrong.
How to avoid this scam:

Only buy things from strangers on Venmo if you’re purchasing from a Venmo approved business account or if you mark the payment to a personal profile as a purchase.
Approved business accounts will say “Eligible items covered by Purchase Protection” under the “Pay” button.
 
Mike69cuda said:
As I understand Venmo is just cash exchange like writing a check. No protection at all. Similar to PayPal friends and family.
Click to expand...
VENMO want's a credit car number from me to set up an account with them.

If something went wrong with the transaction, and was paid thru the credit card, can't you just dispute it, and not pay the credit card payment?
 
hemi71x said:
VENMO want's a credit car number from me to set up an account with them.

If something went wrong with the transaction, and was paid thru the credit card, can't you just dispute it, and not pay the credit card payment?
Click to expand...
Yes, I have a CC and a bank account associated with Venmo.

Payments out go from the CC

Payments in will remain within Venmo Balance as "credit" until you transfer those funds to the associated bank account or you can leave them in there for future use. .
 
hemi71x said:
VENMO want's a credit car number from me to set up an account with them.

If something went wrong with the transaction, and was paid thru the credit card, can't you just dispute it, and not pay the credit card payment?
Click to expand...

Trust your instincts on whether the person is sketchy. Unless they have a Venmo Business account your pretty much on your own. The CC transaction isn't going to show the seller, it's just going to show "Venmo" and Venmo says they don't offer buyer protection unless it's through a business account.

Good luck
 
hemi71x said:
VENMO want's a credit car number from me to set up an account with them.

If something went wrong with the transaction, and was paid thru the credit card, can't you just dispute it, and not pay the credit card payment?
Click to expand...
Check and see if your bank has Venmo available.
My bank does and if I use it thru them, it has protections.
 
WV64Signet said:
Trust your instincts on whether the person is sketchy. Unless they have a Venmo Business account your pretty much on your own. The CC transaction isn't going to show the seller, it's just going to show "Venmo" and Venmo says they don't offer buyer protection unless it's through a business account.

Good luck
Click to expand...
The "seller" sent me a payment request for the parts that i would like to purchase.
So his name shows up on that request.
Then that tells me who the seller is, and whom I'm doing business with?
 
hemi71x said:
The "seller" sent me a payment request for the parts that i would like to purchase.
So his name shows up on that request.
Then that tells me who the seller is, and whom I'm doing business with?
Click to expand...

Let me preface by saying I generally operate very pessimistic on these types of things so some due-diligence is in order.

I don't use C.L. so I'm not sure if you can check out the individual's "Profile" to see if it looks like it's BS.

Do they have other items for sale, does it say they are located in Bulgaria or something?

I have PayPal linked to my eBay account and have not had any issues to-date.

The payment request can look like whatever they want it to look like.

Caveat emptor
 
UPDATE:
Well, i did set myself up with a VENMO account, and purchased the pair of Kelsey Hayes calipers that i dabble in, from the seller, in So. Cal.
He already packaged them up, and got to the post office, mailing them out to me.
Got the tracking number, picture of the USPS flat rate box they are packaged in, and photo of the USPS mailing receipt.
In my instance here, i feel everything has worked out well.
I expect the parts on Saturday.
I don't think the guy is going to stiff me, with a couple of bricks in the package.
I felt comfortable talking with him in our conversations.
 
hemi71x said:
UPDATE:
Well, i did set myself up with a VENMO account, and purchased the pair of Kelsey Hayes calipers that i dabble in, from the seller, in So. Cal.
He already packaged them up, and got to the post office, mailing them out to me.
Got the tracking number, picture of the USPS flat rate box they are packaged in, and photo of the USPS mailing receipt.
In my instance here, i feel everything has worked out well.
I expect the parts on Saturday.
I don't think the guy is going to stiff me, with a couple of bricks in the package.
I felt comfortable talking with him in our conversations.
Click to expand...
Good, I hope it works out, was his name William Walker by chance?
 
I use Venmo 2-3 times per week to pay for hockey . I also send my kids money via Venmo . No issues . I also had a guy send me 5k for my motorhome with no issues .
 
Like many others here, I'm leery of using electronic forms of payment if I'm not standing face to face and looking at the merchandise, or if I don't know the person. I personally have never had an issue, but plenty of others have. Sounds like you'll be fine.

Also, be aware that if you receive $600 or more through Venmo or the other electronic apps throughout the year, starting tax year 2023, you will receive a 1099-K from the IRS.
 
Righty Tighty said:
Like many others here, I'm leery of using electronic forms of payment if I'm not standing face to face and looking at the merchandise, or if I don't know the person. I personally have never had an issue, but plenty of others have. Sounds like you'll be fine.

Also, be aware that if you receive $600 or more through Venmo or the other electronic apps throughout the year, starting tax year 2023, you will receive a 1099-K from the IRS.
Click to expand...
I think that's been delayed by the IRS until the 2024 tax year.
 
I sure hope so. I remember they delayed it from '22 to '23 but I don't remember why. They can delay it until they find Elvis for all I care. :)
 
I've heard Zelle is the way to go for swap meet type stuff face to face. Or other face to face goods physically changing hands.

It's bank to bank transfer. It's just like cash. No disputing, no charges. All sales final. And all transactions instantaneous. No waiting for money.
 
UPDATE:
The mailman just brought me the brake calipers that i purchased from this seller.
So everything worked out well in me setting myself up with this VENMO thing.
And might i ad, this guy did the best packing job of these calipers in all these years that i have been buying things on ebay, these internet, car related web sites.
I'm a very happy camper.
Jim V.
hemi71x
 
I found out that venmo started out in 2009, and was bought out by Pay Pal, in 2013, ten years ago.

So Pal Pal and venmo are in bed with one other, in this electronic payment, internet world, that we all live in, in this modern day and age.
 
Basically, we’re screwed unless we meet in person and pay cash!
 
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