Is Venmo Safe to Use? All You Need to Know About Venmo Scams

Updated on October 3, 2023
Is Venmo Safe to Use? All You Need to Know About Venmo Scams

Venmo is a great way to pay friends back for dinner or to split the cost of a group gift, but it’s essential to be aware of the different types of Venmo scams that are out there.

In this article, you will learn about the different types of Venmo scams and how to protect yourself from them. We’ll also explain what to do if you fall victim to a scam. So, whether you’re a Venmo newbie or an experienced user; read on for getting all the information about it.

What Is Venmo?

Venmo is a social payments app that is focused on shared payments. It allows you to easily and quickly send money to your friends. The app is linked to your bank account or debit card, so you can easily transfer money without having to worry about exchanging account information. You have the option to split or share your purchase with one or many users.

The app is available on both iOS and Android devices, and it’s free to use. You can also use Venmo to pay for items in selected stores and restaurants.

Understanding Different Types of Venmo Scams

There are a few different types of scams that can happen on Venmo. Here are some types you need to watch out for:

  1. The scammer asks you to send them money through Venmo.
  2. The scammer tries to trick you into sending them money by pretending to be someone else.
  3. The scammer sends you a fake invoice or payment request.
  4. The scammer steals your personal information to withdraw money from your account.

Is Venmo Safe to Use?

Venmo is a safe way to pay people back for meals, drinks, and other shared expenses, but there are a few things to watch out for. To avoid getting scammed, only send money to people you trust, always check the name on the Venmo request against the person’s profile and be wary of any requests that seem too good to be true.

In 2021, the number of Venmo users increased by 12% which sums up to 70 million users. In 2023, the company is expected to continue its trajectory by growing its user base to 85 million.

What Do I Need to Know About a Venmo Text Scam?

In 2018, Venmo payment fraud led to $40M in losses. It was 40% higher than the company was expecting. That’s why you need to be vigilant while using Venmo. If you’re ever on the receiving end of a suspicious text message asking you to pay someone on Venmo, it’s essential to be cautious. Venmo text scams are when someone sends you a text message requesting that you pay them via Venmo.

These texts are often routed through virtual phone numbers, so it’s tough to trace the scam back to its source. What’s worse is that these scam messages will usually contain details that suggest they know personal information about you, such as your name or address.

  • If you receive a suspicious text like this, double-check the sender’s identity and never click on any links in the messages.
  • You should also be wary of requests for personal information or remote access to your device.
  • Never provide confidential information if someone contacts you and claims they’re from Venmo or its parent company PayPal which owned Venmo in 2013. These companies will never ask for your personal information via text message.

Is It Possible to Get Scammed on Venmo?

Can you get scammed on Venmo? Yes, unfortunately, it’s possible. You need to stay vigilant when using the app because it’s all too easy to fall victim to a scammer. The most common type of Venmo scam is when someone sends a payment for an item or service in advance and requests a refund. The payment appears legitimate, and you may already have transferred the item or service. However, after receiving their money back, they’ll take off without returning your goods or services.

  • It’s also important to be wary of people who send money with promises of more in the future if you send back some first. These are likely scams as well.
  • As always, never give out your personal information, even if someone claims they are from Venmo itself!

Keep these tips in mind, and always trust your gut instinct. If something doesn’t feel right, don’t do it!

What is a Venmo Email Scam?

A Venmo email scam is a deceptive phishing scheme that specifically targets Venmo users through fraudulent emails. These phishing emails often mimic the appearance of official Venmo correspondence, using logos, branding, and templates that closely resemble legitimate communications. 

The emails typically employ tactics to create urgency or raise suspicion, such as claiming suspicious activity on the recipient’s Venmo account or suggesting a security breach. They usually include links that direct recipients to fake Venmo login pages designed to capture users’ login credentials.

In some cases, scammers may further request additional personal information, like Social Security numbers or credit card details. 

How to Stop a Venmo Scam in Progress?

If a Venmo scam is in progress and you’re being targeted, you can take steps to protect yourself.

  • For starters, ensure you’re connected with only trusted contacts listed in your phone or email address book. If someone requests money from you or makes an offer that sounds too good to be true, verify their identity before sending any funds.
  • It’s also important to stay alert and never provide personal information like your Social Security number over Venmo. Venmo will never contact you with unsolicited requests for your username, password, or bank account number. This is a huge red flag, so if anyone contacts you out of the blue requesting this information, immediately report them to Venmo customer service and refuse to share the details.
  • Don’t share any sensitive information via text message or social media posts, as it could put you at risk of identity theft. The best way to keep yourself safe is by only communicating via secure channels provided by Venmo.

What Should I Do if I’ve Been Scammed on Venmo?

There are a few tips on how you can take action to avoid being scammed on Venmo.

  • If you have no idea regarding how to report a Venmo scammer, then keep all the evidence of the Venmo scam: messages, transaction history, receipts, etc. You’ll need this when you contact Venmo support so they can freeze the scammers account and hopefully get
  • Venmo also has a “Report a Problem” feature where you can dispute a payment. If a scammer’s account is frozen while they still have money in it, and if it’s not disputed by an outside party (like the scammer), then the funds may be available to be refunded by Venmo eventually.
  • You should also consider reporting the activity to your local authorities and the Federal Trade Commission (FTC). The FTC has resources and information about filing a complaint if you’ve been scammed on Venmo.
  • Taking action quickly is important if you think you’ve been scammed on Venmo. That way, you have a better chance of getting your money back or blocking future scams and protecting other users from falling victim to the same scheme!

Will Venmo Refund Money if Scammed?

Whether Venmo will refund money if scammed depends on the situation. Generally speaking, if you were tricked into sending money to a scammer or received a Venmo phishing email, then you’ll need to work with the company’s customer service team to get a refund.

The company may also be able to help if your account or payment information was shared with a scammer. However, if you sent money to an unauthorized user or willingly sent money away, Venmo won’t be able to help.

In these cases; it’s best to contact the person you sent the money to and ask them for a refund but keep in mind that they might not be willing or able to do this. It’s important that you use caution when it comes to signing up for services or sending money via Venmo.

Tips and Tricks for Avoiding Venmo Scams

Staying safe is always a top priority, so here are a few tips and tricks for avoiding Venmo scams.

  • Always double-check the payment request you receive and make sure it’s coming from someone you know and trust.
  • Never pay for goods or services with Venmo unless you know the seller is legitimate.
  • If you feel uneasy about a payment request, reach out to the sender to verify its validity.
  • Start using VPN before logging into the Venmo app. This way, you will have an extra layer of security while sending money via Venmo. Several users of Astrill VPN have stated that their experience with the app while making payment transactions has been the best as it has outstanding features like the optimized speed with the fastest servers, smart mode, kill-switch, website, and App filter. You can also download the Astrill VPN android app for this purpose.
  • Set up two factor authentication on your account to add an extra layer of security.
  • Be mindful of public posts, as scammers can sometimes use these to get access to your personal information or scam others in your network. Review Venmo’s privacy settings and consider making your profile private if necessary.
  • Never give out personal information such as passwords, bank account numbers, or credit card numbers when using Venmo, even if someone claims they need it “for verification” purposes.

What should you expect If your Venmo business account is compromised?

There are certain things you can do to try to get your money back and limit the harm after falling for one of the Venmo business account scams. Stop communicating with the fraudster and compile your proof, then proceed with the following steps:

  1. Immediately change the passwords of your Venmo, bank, and other internet accounts you use regularly.
  2. Notify Venmo of the scam and submit a report to the authorities.
  3. Please notify the Federal Trade Commission of this scam. Complaining to the BBB is another option if the fraud concerns a legitimate company. This is done to prevent future scams, but it won’t help you get your money back if you’ve already lost money.
  4. Identity theft victims should visit the FTC’s identity theft portal right away to get started on a restoration strategy. Identity theft is reversible, albeit a lengthy process.


You’re probably wondering what else you need to know about Venmo scams. To that end, here are a few of the most commonly asked questions about staying safe on Venmo:

Q: What is the safest way to receive money from a stranger?

A: Since Venmo is backed by PayPal: one of the most trusted companies in online payments. Using Venmo for your day-to-day transactions is safe, even while receiving money from a stranger. Paypal and Western Union are also good options.

Q: Can you get hacked by giving someone your Venmo name?

A: No, you can’t get hacked just because someone knows your name on Venmo. They need to have your phone as well to hack it.

Q: Is Zelle safer than Venmo?

A: Both services are good and safe, but Venmo is more secure as you can enable pin and multi factor authentication in the Venmo app.

Q: Does Venmo text you about suspicious activity?

Yes, Venmo may text you about suspicious activity; their number is 86753. If you receive text claiming to be Venmo from any other number, that’s a scam. 

Q: Does Venmo refund money if scammed?

No, Venmo has a policy that it does not get into financial disputes which is why it will not refund any payment made wrong or any money that you lost to scammers.


To sum up, Venmo is safe to use as long as you take some precautions against scams. Keep an eye on your account to make sure that no unauthorized transactions have been made and be careful about who you send money to. Venmo is a great way to pay people back quickly and easily but it’s important to be aware of the risks of using it. By following above mentioned tips and tricks, you can stay safe and secure while using Venmo.

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About The Author

Bisma Farrukh

Bisma is a seasoned writer passionate about topics like cybersecurity, privacy and data breach issues. She has been working in VPN industry for more than 5 years now and loves to talk about security issues. She loves to explore the books and travel guides in her leisure time.

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