I’ve used both Zelle and Venmo to collect funds from my renters and to pay for services like plumbing. Also for reimbursement to/from family. As far as I can tell, once the funds are sent there is no way to reverse the transaction. Also since there are no fees it is preferable to Square or these other credit card based services.
Getting paid online besides Paypal
- Thread starter atikovi
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Around here it is 70% Venmo, 20% Paypal, 10% Zelle and 10% Apple Pay. Never heard of the others.
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What if the buyer paid from a stolen account. Couldn't the transaction be reversed if it was fraudulent?
I've also used zelle. The banks seem to be behind it so support is great.
You have to weigh the potential loss from fraudulent zelle use against the loss of business for not using it. So you'll have to be an instant judge of character, like always. Zelle sends you an email when you're getting money so you can seal the deal with your phones on-site.
"Kids" don't always carry cash.
I sold my FILs tractor for ~$2k a while back-- buyer came to look at it on a sunday and could only get $600 from ATMs so he paid me the rest through paypal and it went smoothly. You should know what daily ATM limits are and where the nearest one is so you can send shady people packing for actual cash.
You have to weigh the potential loss from fraudulent zelle use against the loss of business for not using it. So you'll have to be an instant judge of character, like always. Zelle sends you an email when you're getting money so you can seal the deal with your phones on-site.
"Kids" don't always carry cash.
I sold my FILs tractor for ~$2k a while back-- buyer came to look at it on a sunday and could only get $600 from ATMs so he paid me the rest through paypal and it went smoothly. You should know what daily ATM limits are and where the nearest one is so you can send shady people packing for actual cash.
I believe so in the case of that kind of fraud but not easily. You can’t just click a button and have the funds reversed.
Accounts have to be verified when they're associated with Venmo etc..
I use Venmo and PayPal. Never had an issue. I prefer Apple Pay at retailers. The merchant doesn't handle your physical card.
Cash is king, but sometimes a paper trail is nice.
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