Anonymous
06/03/2022 20:19
Subject: Paid wrong person on Venmo
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:I don't like Venmo for many reasons, I only use Zelle. I guess maybe this could happen on Zelle too but I kind of doubt it. I think the process is a little more foolproof.
Zelle has had its issues. I’m not an expert on this, but giving my bank info to these apps seemed like a bad idea from the beginning. It seems safer to link these apps to credit cards instead of your bank account. I think the credit card adds an additional layer of protection.
https://www.nytimes.com/2022/03/06/business/payments-fraud-zelle-banks.html
Your link discusses scams. The OP's issue is not about a scam, it's about user error. I exclusively use Zelle because it's a direct bank to bank transfer. Zelle will refund your money if you catch the error soon after it was made.
Zelle is a pita, imo.
We have a renter who insists on using Zelle. We get $4,200 in 6 payments of $700 each over the space of 5 or 6 days because his bank limits his transaction amount to $700 per day despite the fact that he's been a renter for 5 years and payed via Zell for at least 4 or 5. I am sooooooooo over Zelle. Every month there is some sort of problem, too, that we have to clarify with the banks. Nope.
Hate Zelle.
I believe it's his bank, not zelle, that places the daily limit. My tenants paid > $2100 and it went through fine each month.
Good to know and what I've suspected; however, after 5 years they need to let the transaction through. I wish he would just pay through Venmo. It would make my life so much easier!!!
Anonymous
06/03/2022 18:27
Subject: Paid wrong person on Venmo
Anonymous wrote:I did the same thing about a month ago, but only $300. I realized it right away, contacted Venmo and sent a note to the recipient (someone whose FB page suggested he probably had no interest in returning anyone's money). I figured I was just out of luck, but Venmo actually reimbursed it (with lots of caveats about it being a one-time courtesy, etc). Hope the same can happen for you, though maybe the value is too high in your situation
OP here - they reimbursed us, too! We're shocked. And we also got the "one time only" warning. lol! We've learned our lesson.
Anonymous
06/03/2022 18:16
Subject: Paid wrong person on Venmo
Anonymous wrote:Op, your husband needs to go to bank asap and pull back this transaction. There are ways to do it.
There aren’t from what I know. Once you send that money it is gone.
Anonymous
06/03/2022 16:50
Subject: Paid wrong person on Venmo
Anonymous wrote:Op, your husband needs to go to bank asap and pull back this transaction. There are ways to do it.
This is from the NYT article on Zelle:
Peter Tapling, a former executive at Early Warning who is now a payments consultant, said banks haven’t done enough to educate customers about the risks of Zelle. He suggested that customers treat Zelle as they would cash. “Don’t hit the button to send this money unless you would hand this person $100 and walk away, because the moment you send it, it’s gone,” he said.
https://www.nytimes.com/2022/03/06/business/payments-fraud-zelle-banks.html
Anonymous
06/03/2022 16:46
Subject: Paid wrong person on Venmo
Anonymous wrote:Anonymous wrote:Anonymous wrote:I don't like Venmo for many reasons, I only use Zelle. I guess maybe this could happen on Zelle too but I kind of doubt it. I think the process is a little more foolproof.
Zelle has had its issues. I’m not an expert on this, but giving my bank info to these apps seemed like a bad idea from the beginning. It seems safer to link these apps to credit cards instead of your bank account. I think the credit card adds an additional layer of protection.
https://www.nytimes.com/2022/03/06/business/payments-fraud-zelle-banks.html
Your link discusses scams. The OP's issue is not about a scam, it's about user error. I exclusively use Zelle because it's a direct bank to bank transfer. Zelle will refund your money if you catch the error soon after it was made.
Zelle wasn’t helpful in the cases cited, even when the Zelle account was hacked (vs. people sending money to fraudsters). But the point is that, once the money is gone from your bank account, it’s next to impossible to get it back. It’s the same reason that paying with a credit card is safer than a check. If you’ve charged the amount to a credit card, you can contest the charge.
Anonymous
06/03/2022 12:01
Subject: Paid wrong person on Venmo
Op, your husband needs to go to bank asap and pull back this transaction. There are ways to do it.
Anonymous
06/03/2022 11:32
Subject: Paid wrong person on Venmo
Anonymous wrote:And this is why I don't Venmo.
If you can't cash a check or meet me in person for cash, you don't need my money.
+1 online banking just causes problems
Anonymous
06/03/2022 11:30
Subject: Paid wrong person on Venmo
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:I don't like Venmo for many reasons, I only use Zelle. I guess maybe this could happen on Zelle too but I kind of doubt it. I think the process is a little more foolproof.
Zelle has had its issues. I’m not an expert on this, but giving my bank info to these apps seemed like a bad idea from the beginning. It seems safer to link these apps to credit cards instead of your bank account. I think the credit card adds an additional layer of protection.
https://www.nytimes.com/2022/03/06/business/payments-fraud-zelle-banks.html
Your link discusses scams. The OP's issue is not about a scam, it's about user error. I exclusively use Zelle because it's a direct bank to bank transfer. Zelle will refund your money if you catch the error soon after it was made.
Zelle is a pita, imo.
We have a renter who insists on using Zelle. We get $4,200 in 6 payments of $700 each over the space of 5 or 6 days because his bank limits his transaction amount to $700 per day despite the fact that he's been a renter for 5 years and payed via Zell for at least 4 or 5. I am sooooooooo over Zelle. Every month there is some sort of problem, too, that we have to clarify with the banks. Nope.
Hate Zelle.
I believe it's his bank, not zelle, that places the daily limit. My tenants paid > $2100 and it went through fine each month.
Anonymous
06/03/2022 10:55
Subject: Paid wrong person on Venmo
Anonymous wrote:Anonymous wrote:Anonymous wrote:I don't like Venmo for many reasons, I only use Zelle. I guess maybe this could happen on Zelle too but I kind of doubt it. I think the process is a little more foolproof.
Zelle has had its issues. I’m not an expert on this, but giving my bank info to these apps seemed like a bad idea from the beginning. It seems safer to link these apps to credit cards instead of your bank account. I think the credit card adds an additional layer of protection.
https://www.nytimes.com/2022/03/06/business/payments-fraud-zelle-banks.html
Your link discusses scams. The OP's issue is not about a scam, it's about user error. I exclusively use Zelle because it's a direct bank to bank transfer. Zelle will refund your money if you catch the error soon after it was made.
Zelle is a pita, imo.
We have a renter who insists on using Zelle. We get $4,200 in 6 payments of $700 each over the space of 5 or 6 days because his bank limits his transaction amount to $700 per day despite the fact that he's been a renter for 5 years and payed via Zell for at least 4 or 5. I am sooooooooo over Zelle. Every month there is some sort of problem, too, that we have to clarify with the banks. Nope.
Hate Zelle.
Anonymous
06/03/2022 09:53
Subject: Paid wrong person on Venmo
Anonymous wrote:Anonymous wrote:I don't like Venmo for many reasons, I only use Zelle. I guess maybe this could happen on Zelle too but I kind of doubt it. I think the process is a little more foolproof.
Zelle has had its issues. I’m not an expert on this, but giving my bank info to these apps seemed like a bad idea from the beginning. It seems safer to link these apps to credit cards instead of your bank account. I think the credit card adds an additional layer of protection.
https://www.nytimes.com/2022/03/06/business/payments-fraud-zelle-banks.html
Your link discusses scams. The OP's issue is not about a scam, it's about user error. I exclusively use Zelle because it's a direct bank to bank transfer. Zelle will refund your money if you catch the error soon after it was made.
Anonymous
06/03/2022 07:15
Subject: Paid wrong person on Venmo
I did the same thing about a month ago, but only $300. I realized it right away, contacted Venmo and sent a note to the recipient (someone whose FB page suggested he probably had no interest in returning anyone's money). I figured I was just out of luck, but Venmo actually reimbursed it (with lots of caveats about it being a one-time courtesy, etc). Hope the same can happen for you, though maybe the value is too high in your situation 
Anonymous
06/03/2022 07:03
Subject: Paid wrong person on Venmo
Anonymous wrote:Anonymous wrote:Anonymous wrote:We did that with our rent once. My husband PayPal’d the wrong person. Who never responded- and accepted transaction.
Doesn’t PayPal allow you to contest a transaction? That’s why I prefer it to Venmo for large amounts.
You can. But it’s difficult to get that to work in your favor. We lost our money.
The trick is to pay using a credit card through pay pal because credit cards still have actual protections attached and you can dispute the charge to paypal. I've had to dispute mistaken paypal transactions twice over the years and I always include a line that I'm participating in the process, but am not waiving my right to dispute the transaction through the credit card issuer.
Anonymous
06/03/2022 06:59
Subject: Paid wrong person on Venmo
Anonymous wrote:And this is why I don't Venmo.
If you can't cash a check or meet me in person for cash, you don't need my money.
Lol! You sound alike my mom 🤣
Anonymous
06/02/2022 23:51
Subject: Paid wrong person on Venmo
Oh, that was you? Thanks OP, you just paid for my kids' braces!!
Anonymous
06/02/2022 23:15
Subject: Paid wrong person on Venmo
Anonymous wrote:I don't like Venmo for many reasons, I only use Zelle. I guess maybe this could happen on Zelle too but I kind of doubt it. I think the process is a little more foolproof.
Zelle has had its issues. I’m not an expert on this, but giving my bank info to these apps seemed like a bad idea from the beginning. It seems safer to link these apps to credit cards instead of your bank account. I think the credit card adds an additional layer of protection.
https://www.nytimes.com/2022/03/06/business/payments-fraud-zelle-banks.html