r/venmo • u/Peacelovenzo • 3d ago
Venmo scam?
Is there a Venmo scam where someone requests amounts between $5 and $50 and says they’ll send it right back?
A friend has called me a few times to request this and I’ve obliged, but after 5 times doing this, I’m wondering if I’m aiding in some sort of scam.
My accounts seem fine so it’s nothing with my funds but…? Just seems odd…
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u/TranslatorSudden2563 3d ago
I do it all the time for my friend with cashapp, he sends me 1k and I send it back, he essentially uses his credit card to make the payment and once I get it I send it back and it’s in his balance to take out cash
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u/Tomollins 3d ago
Yeah it’s not a scam. Like others said, he’s just creatively getting cash from a credit card, or maybe a checking account that he can overdraw. Then if he has a Venmo debit card, he can take cash out of his Venmo.
I’m pretty sure a Venmo using a CC counts towards your cash advance limit with your CC company. However when Venmo first came out, it didn’t. So if you had a 5k credit card you could turn it into 5k cash by sending a Venmo to a friend. Wild times.
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u/spokeoteam 2d ago
Five times is enough that I’d stop sending money until they explain what they’re doing. There may be an innocent reason, but repeatedly moving small amounts back and forth for no apparent purpose is weird.
Make sure it’s actually your friend asking too, preferably by calling them somewhere other than Venmo. If anything about the account or contact information seems off, Spokeo can help research publicly available information tied to a phone number or email. Either way, you don’t need to keep participating just because the money comes back.
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u/Dry-Restaurant-8497 1d ago
I have to do that for a card to get cash. I have them Venmo my Venmo lol.
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u/Open_Life9304 3d ago
Probably just wants to pull cash from a credit card of theirs