Understanding Random Venmo Payment Transfers

Random Venmo payment transfers can be frustrating, especially when you're not expecting them.

Some transfers are initiated by friends or family members who may have accidentally sent you money.

These transfers can be due to a misdialed phone number or a mistaken Venmo username.

Venmo users can also send payments to themselves, which can sometimes be misinterpreted as a random transfer.

In some cases, these transfers are a result of a user's attempt to pay a bill or service, but they accidentally sent the money to the wrong person.

If you receive a random Venmo payment, don't send it back right away. The Better Business Bureau warns that in most cases, the money will disappear from your account in a couple of days when the stolen card is canceled.

Scammers are using stolen credit card numbers to send money to hundreds or thousands of people at once, using digital wallet apps like Venmo, Cashapp, and Zelle. They then ask for the money back, claiming it was a mistake.

If you get an unexpected payment from a stranger, the safest thing to do is to let it sit in your Venmo account. There is no way to manually decline, refuse, or cancel a payment on Venmo, so holding onto the money is your best option.

The scammer will likely send multiple requests to get the money back, but don't fall for it. A recent college grad, Shelbi Felbinger, received a stranger's $2,000 Venmo payment, only to be asked to send it back.

Venmo's user interface is part of the problem, making it easy for scammers to target people. The app has no way to manually decline or cancel a payment, leaving users vulnerable to scams.

If you do decide to send the money back, you'll be sending your own cash, not the scammer's. The money they sent will disappear, as it came from a now invalid credit card that the original holder has canceled.

Be careful when using money-transfer apps like Venmo, Zelle, or Cashapp. Anything you send is gone forever, and you can't pull it back.

If someone sends you money by accident, don't refund them. McFarland said absolutely not to refund them.

Let the money sit in your Venmo balance, at least for a while. A couple of days later, I got spammed with requests to send back the $500, but I did nothing.

Venmo's user interface is part of the problem - there's no way to manually decline, refuse, or cancel a payment. So if you get a payment you didn't expect from a stranger, the safest thing to do is to let it sit in your Venmo account.

The Better Business Bureau is issuing an alert about a scam involving accidental deposits into your Venmo or Zelle account. It's not really accidental at all.

In the most common version of this scam, someone sends money to your Venmo or Zelle account, then asks for it back, claiming it was a mistake.

Absolutely do not refund someone who sends you money by accident. This is the advice from McFarland, and I agree.

If you get a payment you didn't expect from a stranger, the safest thing to do is to let it sit in your Venmo account. This is because there is no way to manually decline, refuse, or cancel a payment on Venmo.

I had a similar experience where someone sent me $500 by mistake. I left the money in my Venmo account, and a week after it was sent to me, a payment refund for $500 went through and took the money from my Venmo balance.

If the money is from someone you know, like a roommate, you should send it back to them. But if it's from a stranger, it's best to let it sit.

Millennials often don't research as much before making a purchase online, which can lead to scams. They might say "yes" quickly without investigating certain purchases and deals.

In fact, the Better Business Bureau says that in the most common version of this scam, someone sends money to your Venmo or Zelle account, then asks for it back, claiming it was a mistake.