Tips to Stay Safe on Money Transfer Apps

BFine.org Administrator

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Money apps like Cash, PayPal, Venmo and Zelle, are convenient ways to pay friends, family and businesses without carrying cash or a checkbook. The technology savvy and digital natives often prefer money apps for the ease of use and immediacy of the transaction.

These apps are secure if you follow the proper steps and look for warning signs of fraud and scammers. The Federal Trade Commission as well as the App companies themselves warn users about the many ways they can be scammed.

Some of the top tips to avoid being scammed when using a money app include:

  • Make sure you have downloaded the authentic money app and not a clone. 
  • Enable the App security features.
  • Verify the profile name and icon of the person receiving the money.
  • If you receive a suspicious or unusual email or text from the App, respond by calling the customer service phone number on the App’s website.

The companies behind the Apps are fighting fraud and are educating their users as well.

Some suggestions from Cash App to keep secure include:

  • Turn on notifications and enable Security Lock to keep your account more secure
  • Keep your information safe. Never provide sensitive information to anyone 
  • Verify and double-check all recipient information before sending any payment to confirm you are sending money to the correct person
  • Don’t send money to someone promising you something in the future
  • Don’t send money to a love interest you haven’t met in person

Criminals are clever and will continue new tactics, so be certain to check with your money app of choice for any fraud or scam alerts.

Cash App outlines some of the clever ways scammers work to fool you and take your money. To learn more about the Cash Flip, Customer Service Impersonators, Surveys, and more scams, read HERE.

If you feel that you have been scammed, it’s important to report it immediately to the App and the authorities.

  • Cash App. Chat through the app for the fastest service. To do so, open the app, go to your profile, and choose Support. You can also get help through cash.app/help or by calling 1 (800) 969-1940.
  • Venmo. Chat through the app for the fastest service. To do so, open the app, go to your profile, and choose Get Help. You can also email Venmo through their contact form or call them at 1 (855) 812-4430.
  • PayPal. Report it online through PayPal’s Resolution Center or call PayPal at 1 (888) 221-1161.

If you paid a scammer with a mobile payment app, report it to the Federal Trade Commission at ReportFraud.ftc.gov. When you report a scam, you help the FTC and other law enforcement agencies stop scams.

To learn more:

Cash App

Federal Trade Commission


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The materials on this website are for general information purposes only and should not be construed as legal advice, legal opinion, or any other advice on any specific facts or circumstances. You should not act or refrain from acting upon this information without seeking professional advice.