Tutorial: Using Venmo for Craigslist Transactions
With over 40 million registered users and thousands of active listings per week in every major city in the US, Craigslist is a haven for easily buying and selling items you want. However, while the classifieds listings are simple and convenient to look through, transactions on Craigslist are sometimes more complicated than they need to be. This is especially so since you’re dealing with another party who you’re unfamiliar with, with no straightforward “reputation system” like that on eBay or other merchant sites. As a result, Craigslist has become a popular place for scammers and con artists, who trick earnest buyers and sellers out of their money and goods. Learn how to avoid Craigslist scams and make secure person-to-person transactions by using Venmo.
Popular Craigslist Scams
One of the most popular Craigsist scams involves check fraud. From SmartMoney:
Such is the typical fake-check scam: A remote buyer feigns interest in buying your goods — sight unseen — and sends you a check or money order for more than the item costs. You are asked to wire the difference. Several days later, the bank discovers that the check is fraudulent and you’re responsible for the balance.
The worst part about this scam is that there’s not much that can be done after the fact, since federal law offers little protection for check fraud.
In addition, fake cashier checks and money orders are common, and you can be held responsible by the bank when they are discovered a few weeks after trying to deposit them.
Face-to-Face Transactions
Often, the best way to avoid this type of fraud is to insist on a face-to-face transaction where cash can be exchanged. However, for expensive items, it is uncomfortable for both parties to exchange large amounts of cash on the spot, most importantly for security issues with carrying so much cash (both before, during, and after the transaction with the unfamiliar party).
Use Venmo Instead
Venmo offers an easy solution. Avoid check fraud, but still use your debit/credit account to pay for or receive payment for your goods. At the same time, get around the hassle of having to carry large quantities of cash, which is always a safety hazard. Simply use Venmo to send a payment to the seller of the item, after meeting with him face-to-face and verifying that the item is in good condition and as advertised. The seller will immediately receive confirmation of the payment via SMS, with instructions on how to use Venmo and access the money.
Venmo is the easiest way to make safe transactions and ensure that you experience all the benefits of Craigslist, without the usual pitfalls. Sign up for Venmo today and use it next time you make a transaction online!
