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FYI Zelle is the banks' clone of Venmo. They both have identical policies here: they don't reverse transactions. Edit: Yardie is correct, this is assuming your
by iudqnolq 4y ago
FYI Zelle is the banks' clone of Venmo. They both have identical policies here: they don't reverse transactions.
Edit: Yardie is correct, this is assuming your counterparty doesn't pay the business fee. So this'll protect you from legitimate businesses, but a scammer isn't going to pay the extra fee to enable reversibility.
- yardie 4y agoI've never needed to but Venmo definitely reverses transactions. But you have to declare it as a business transaction. A lot of businesses don't want to do that because they have to pay a fee. I pay my barber through Venmo and always record it as a service, since I prepay. I pay my tutor as a family transaction. She gets paid after our sessions.
- kazanz 4y agoSpeaking from experience, Venmo claims to reverse transactions, but will do everything in their power to NOT reverse your transaction, even if you mark it as business payment. I paid an architect for work over Venmo. Work was never done and the architect ghosted me. So I sent all the info to Venmo in a dispute and they told me to pound sand.
- yardie 4y agoWell that sucks. It seems outside of credit cards there are very few consumer protections.