The popular mobile payment app Venmo makes it easy to send and receive money from friends, family, and businesses. Whether you’re splitting the cost of a meal or collecting money for a handmade craft, Venmo allows you to transfer funds quickly and securely.
But like many widely used peer-to-peer payment apps—such as Cash App and PayPal, which owns Venmo—Venmo’s popularity and ease of use also make it a prime target for scams. Here are five common Venmo scams you need to be aware of—and the steps you can take to avoid becoming a victim.
Impersonation scams
In this type of Venmo scam, a fraudster pretends to be someone you trust to get you to send money or gain access to your account.
Posing as Venmo customer service or technical assistance, scammers may convince you to share login information or verification codes. Once they have this information, they can access your account and transfer money in and out as if they were you.
Fraudsters may also impersonate someone you know and request money. In one case, scammers targeted donors by posing as a family whose home had burned down and collected Venmo donations in their name.
How to protect yourself from impersonation scams: Venmo will never ask for your password, PIN, or verification code. If you receive a call, email, or text from someone claiming to work for Venmo, check to ensure the number or email address is legit by comparing it to the official contact information listed on Venmo’s website or in the app, and avoid clicking links or sharing information until you’ve independently verified the source.
If you receive a Venmo payment request from a friend or family member that seems unusual, contact them directly through another method, such as a phone call or a text, before sending money.
Online shopping scams
According to the Federal Trade Commission (FTC), online shopping scams continue to be among the most frequently reported fraud categories, with many reports involving payment apps such as Venmo, PayPal, and Zelle.
Fraudsters can scam you out of money when shopping using Venmo in the following ways:
- Asking you to pay upfront and then never delivering the item
- Sending fake shipping information
- Requesting that you not mark the payment as a purchase (which removes purchase protection)
Sellers who collect payments through Venmo can also be targeted, especially when buyers pay with stolen credit cards.
How to avoid online shopping scams: When making purchases using Venmo, always mark the transaction as a purchase and try to buy only from Venmo-approved business accounts. For sellers, avoid selling to strangers whenever possible, verify the payment has cleared before shipping, and use a shipping service that includes tracking.
Overpayments
This Venmo scam typically targets sellers and involves mystery transfers and overpayments.
A fraudster sends you more money than was agreed upon, usually claiming it was a mistake, and asks you to return the “extra” amount immediately. However, after you send the money back, you may receive a notice that the payment was made with a stolen credit card, leaving you responsible for the loss and owing money to Venmo.
In a recent case, a Pennsylvania woman spotted this Venmo scam when she received $600 for a $50 item and was asked to send back the extra $550.
How to respond to a fraudulent transfer or overpayment: If you receive a mystery transfer or overpayment, don’t send the money back. Instead, contact Venmo directly and request that the payment be reversed. You can also block the user to help prevent future fraud attempts.
Donation scams
In a donation scam, a fraudster poses as a legitimate charity or cause and requests donations through Venmo. Scammers may spoof real accounts by changing the username by just one character, sending fake emails or social media posts or even soliciting donations in person.
In one Atlanta-area case, a scammer approached people asking for small donations for a school basketball team and then took control of the victim’s phone or payment screen and secretly sent themselves much larger Venmo payments than agreed upon.
How to protect yourself from donation scams: Always double-check the username and contact details on the donation request, and be cautious of urgent or pressure-filled appeals. When donating in person, never hand over your phone or allow someone else to complete the payment for you.
Phishing attacks
The goal of this scam is to collect your personal information. Using fake emails, texts, or phone calls, a scammer poses as a business, a friend, or even Venmo itself. They may ask for sensitive details such as your bank account information or Social Security Number. With this information, the scammer can then lock you out of your Venmo account, steal your money, and commit identity theft.
How to spot a phishing attack: Check the address or phone number the message comes from to make sure it’s legitimate. Emails or texts with typos or suspicious links are also red flags. If you suspect a phishing attempt, don’t click any links, and report the message directly in the Venmo app. Finally, remember that Venmo will never ask for your personal details over the phone or via email.
Is Venmo safe?
With more than 90 million active users, Venmo is a generally safe solution for sending and collecting payments. Though no payment platform is immune to scams, Venmo offers several built-in safeguards designed to help protect users, including account activity monitoring to detect suspicious behavior, multifactor authentication and PIN protection for added login security, encryption of sensitive financial data, purchase protection on eligible transactions, and the ability to quickly freeze an account if unauthorized activity is suspected.
When these safeguards are combined with smart user behavior—such as verifying payment requests and staying vigilant for red flags—you can quickly spot Venmo scams and reduce the risk of losing money or personal information.