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You probably use Venmo to split dinner with friends, pay your roommate for your half of the rent, or buy a ridiculously cute, handcrafted whatever-it-is from a local market. It’s fast, it’s easy, and it feels a lot simpler than fumbling with cash or writing a check (do people still do that?). But with any app that handles your hard-earned money, the big question always arises: is Venmo safe?
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The short answer is, yes, it can be. But it’s a bit like driving a car. The car has safety features, but you’re still the one who needs to check your blind spots and not text while driving.
Venmo has security measures, but your safety ultimately depends on you. This guide will walk you through exactly that. We’ll look at how the platform works, the common scams to watch out for, and a complete checklist of actions you can take to make sure your money stays your money.
What is Venmo, and how does it work?
Venmo is a peer-to-peer payment app owned by PayPal. It is a digital wallet that lets you send and receive money with just a few taps on your phone.
Here’s a simple breakdown of how Venmo works:
You sign up: You download the Venmo app and create a Venmo account.
You link a funding source: You connect the app by adding a linked bank account, a debit card, or a Venmo credit card.
You add friends: Venmo can sync with your phone contacts to find people you know.
You transact: To send money, you just open the app, pick a friend, enter an amount, write a little note (usually involving emojis), and hit “Pay.” The money is then sent from your chosen funding source. When you receive money, it lands in your Venmo balance. You can either keep it there for future payments or transfer it to your linked bank account.
One of the unique, and sometimes controversial, features of Venmo is its social feed. Venmo lets you set each payment to Public, Friends, or Private. If set to Public, the note, names, and timestamp can be visible to anyone (amounts are visible only to the participants). While it can be fun to see that your friend just paid someone back for “all the tacos,” this feature also has security implications we’ll get into later.
Common Venmo scams to watch out for
So, can you get scammed on Venmo? Absolutely. Scammers love payment apps because they offer a direct line to people’s money. Awareness is your best defense. Here are some of the most common Venmo scams you need to recognize.
The “oops, I sent you money by mistake” scam
You get a notification that a stranger has sent you a few hundred dollars. Moments later, you get a frantic message from them saying it was a mistake and asking you to please send it back. You, being a good person, send the money back.
Then, a few days later, the original payment you received disappears. The scammer used a stolen credit card to make the initial payment, and once the legitimate card owner reported the fraud, the transaction was reversed. You’re left having sent your own money to a thief.
Phishing for your login details
Phishing attacks are as old as email, but they’re still incredibly effective. Scammers will send you an email or a text message that looks like it’s officially from Venmo. It might say there’s a problem with your account.
The message will contain a link that takes you to a fake login page that looks identical to the real one. Once you enter your username and password, the scammers have it. They can then log into your Venmo account, change the password, and drain your Venmo balance or linked bank account.
Buying or selling with strangers
Venmo explicitly states that its service is designed to be used with people you know and trust. It was not built to be a payment platform for buying goods from strangers online. If you try to buy concert tickets, a new gadget, or a puppy from someone on an online marketplace and pay them with Venmo, you have almost no protection if they don’t deliver. Once you transfer money, it’s gone. To be eligible for Venmo Purchase Protection, pay a business profile or tag the payment as goods & services if you’re buying from someone you don’t know.
The classic overpayment scam
This one targets sellers. You’re selling a bike for $200. A “buyer” contacts you and sends you a Venmo payment for $2,000, claiming it was a typo. They ask you to send back the $1,800 difference. You do, and then hand over the bike. A week later, the entire $2,000 payment is reversed because it was made with a stolen card. You’re now out $1,800 and your bike.
The fake friend emergency
Can people scam you on Venmo by pretending to be someone you know? Yes. A scammer might create a fake profile with your friend’s name and picture, or even hack into your friend’s account.
They’ll send you an urgent request for money, claiming they’re in trouble: their car broke down, they lost their wallet, or they’re stuck somewhere. They play on your emotions and your willingness to help a friend in need.
You’ve won a prize! (no, you haven’t)
This Venmo fraud involves a message claiming you’ve won a cash prize or are part of a special giveaway from Venmo. To claim your “winnings,” you just need to send a small amount of money to “verify your account” or pay a transaction fee. Of course, there is no prize, and any money you send is lost for good.
Venmo’s built-in security features
It’s not all doom and gloom. Venmo does take security seriously and has several features in place to protect Venmo users. Understanding these can help you feel more confident about whether Venmo is secure for your needs.
Data encryption: Venmo uses encryption to help protect your account details and financial information from unauthorized access.
Multi-factor authentication (MFA): When you sign in (especially on a new device), Venmo sends a verification code, typically via SMS. You must enter this code to gain access. This means that even if a scammer gets your password, they can’t get into your account without also having access to your phone or email. You should always have two-factor authentication enabled.
PIN and biometric security: You can (and should) set up a PIN code, fingerprint, or Face ID lock within the Venmo app itself. This prevents someone who has access to your unlocked phone from opening the app and making Venmo transactions.
Account activity alerts: Venmo will send you email notifications for key account activities like payments, transfers to your bank, and password changes. This helps you spot unauthorized activity quickly.
While these features are great, they are not foolproof. They work best when combined with your own vigilance.
Essential tips to secure your Venmo account
You now know the risks and the built-in protections. Let’s put it all together into an actionable checklist to make your Venmo experience as safe as possible. Is Venmo safe to use? It is if you follow these steps.
1. Only pay people you know and trust
This is Venmo’s number one rule for a reason. The app is designed for person-to-person payments between friends, family, and people you know in real life. Avoid using it to pay for goods or services from strangers, especially for items found on online marketplaces. If a seller insists on using Venmo, it could be a red flag.
2. Turn on every security setting available
Go into your Venmo app settings right now. Under “Security,” enable a PIN and Face ID/Touch ID. Make sure you have multi-factor authentication active. Don’t skip these steps. They are your best defense against someone trying to access your Venmo account without permission.
3. Use a strong, unique password
This is non-negotiable for any financial app. A strong password should be long (at least 12 characters) and contain a random mix of uppercase letters, lowercase letters, numbers, and symbols. Most importantly, do not reuse the password you use for Venmo anywhere else. If another site you use gets breached, scammers won’t be able to use that leaked password to get into your Venmo.
4. Set your Venmo transactions to private
“Public” privacy settings might seem harmless, but they give scammers information they can use to build a profile on you or craft more believable scams. Set your default privacy to Private (Settings → Privacy). This ensures only you and the other person involved in the transaction can see it.
5. Don’t trust, just verify
If you get a random payment from a stranger, do not send it back. Do not engage with them. Instead, contact Venmo’s support team directly and let them handle the reversal.
Similarly, if a “friend” messages you, asking for money in an emergency, contact that friend through a different method (like a phone call) to verify it’s really them before you transfer money.
6. Use a VPN on public Wi-Fi
Never use financial apps on public Wi-Fi networks, like those at cafes, airports, or hotels. These networks are often unsecured.
If you absolutely must make a transaction on a public network, use a virtual private network (VPN) to encrypt your connection. A VPN like NordVPN creates a secure, private tunnel for your internet traffic.
7. Pay the safe way when shopping
If you’re buying something through Venmo, don’t just send money the same way you would to a friend. To be eligible for Venmo Purchase Protection, you need to either pay a business profile or tag your payment as goods & services. That way, if the seller doesn’t deliver, you’ll have an official channel to dispute the charge.
One important note: if you fund the payment with a credit card, Venmo charges a 3% fee, and some card issuers may even treat it as a cash advance. By comparison, payments funded with a Venmo debit card or linked bank account don’t have that extra fee, though they don’t give you the same built-in protections that credit cards typically provide.
How can NordPass help you stay safe online?
Remember that tip about using a strong, unique password? That’s great advice, but who can actually remember a different, complex password for every single account? That’s where a password manager comes in.
A password manager like NordPass is a digital vault that securely stores all your passwords. It generates strong, random passwords for you with a single click and automatically fills them in when you log in to your apps and websites.
This means you can have a unique, unhackable password for your Venmo account, your bank, your email, and everything else, without having to memorize anything but your one Master Password for NordPass itself. It drastically reduces your risk of being hacked due to weak or reused passwords.
Ultimately, the question of “is Venmo secure?” comes down to how you use it. The platform provides the tools for a secure experience, but it’s up to you to use them correctly. By treating Venmo as a tool for friends, enabling all its security features, and practicing smart digital habits, like being skeptical of strange requests and using tools like a VPN and a password manager, you can confidently enjoy the convenience of this popular payment app without falling victim to scams. Stay aware, stay secure, and keep your money safe.