Accepting Venmo for Mountain Bike sale-Is this safe for higher $ transactions?

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2/22/2019 7:23 AM

Gent's,

I've been using Venmo for awhile now, but primarily for small transactions and from mostly people I know. That being said, I'm selling a mountain bike and have a buyer who wants to pay via Venmo. This would be by far the largest transaction I've ever made on Venmo. I was planning to have him send the money and then I'd transfer it to my checking account right away before handing over the bike. You guy's see any issue with this? Is there any way the buyer could possibly scam me? I know it's not a huge sum of money, but I'd be pissed if I fell victim to a scam. Thanks all!

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2/22/2019 8:34 AM

I don't see a problem with this. Venmo is owned by paypal now. There is no way for the buyer to take the funds back after sending, going through venmo would be the same as using paypal friends and family. There are no fees for sending money from a bank account. There is also no buyer protection. In reality it is much more risky for the buyer than the seller.

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2/22/2019 9:58 AM

You should be totally fine. I remember being pretty surprised about how low their fees were when I used it.

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Instagram: vanillaice782
Amateur helmet painter

2/22/2019 10:03 AM

What everyone else has said – you'll be fine.

I use it quite often to pay crew fee's.

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2/22/2019 4:50 PM

Thanks Guy’s!

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2/25/2019 3:30 AM

chasestevenson599 wrote:

I don't see a problem with this. Venmo is owned by paypal now. There is no way for the buyer to take the funds back after sending, going through venmo would be the same as using paypal friends and family. There are no fees for sending money from a bank account. There is also no buyer protection. In reality it is much more risky for the buyer than the seller.

Agree with you.

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