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Is Venmo Safe? 2024 Newest Review!

Apr 11, 2024   |   7 mins
Is Venmo Safe? 2024 Newest Review!

As Venmo has become one of the most popular mobile cash transfer apps in the USA, your friends have probably invited you to use Venmo to split the bill after a party, but the negative press about Venmo online makes you a little hesitant: Is Venmo safe?

In fact, Venmo is absolutely safe to use with people you trust, but some of the Venmo scams can leave you in the swamp. Don't worry, this blog will focus on the security of Venmo, and provide useful tips to help you stay safe while using it. Let's dive in.

Table of contents

What Is Venmo?

Venmo is a mobile payment service and part of the PayPal family. When it was first launched in 2009, it was just a peer-to-peer payment app with a social component, but with technological development and funding, today, Venmo goes beyond mere money transfers, offering a multifaceted financial experience that's deeply integrated into the daily lives of its users.


With Venmo, individuals can effortlessly make online purchases, share the cost of expenses, buy and sell cryptocurrency, and engage in financial transactions from virtually anywhere. The app's intuitive design simplifies the process of splitting bills among friends, family, or colleagues, seamlessly blending into social settings and group activities.

Is Venmo Safe?

Discussions about Venmo's security have been commonplace on Reddit forums for years, and the answers given by Reddit users fall into two distinct camps. Some claim that Venmo comes from PayPal and is trustworthy, but others have shared their own experiences of being scammed out of money. So is using Venmo actually risky?

reddit topic about is venmo safe

A Reddit Topic from CJsopinion

If you ask if Venmo is safe software, the answer is definitely yes. As a provider of mobile payment services, Venmo understands the importance of payment security and has taken steps to safeguard the property and privacy of its users.

Let’s check How Venmo protects your information and property.

・Encryption: Venmo uses strict encryption technology to protect your information from disclosure.

・Monitoring: Monitors your account activity and helps users identify unauthorized and suspicious transactions.

・Authentication: Ensures the accuracy and security of services by verifying the user's identity.

・Account Protection: If your device is lost, users can block the device's access to Venmo.

・Multi-Protection: Supports adding additional layers of security to accounts, including creating PIN codes and multi-factor authentication.

・Refund Policy: Provides a purchase protection policy for certain transactions and supports refunds.

In addition to the above protections, Venmo also provides security support and opens up a corresponding customer service team for users to seek help.

However, when it comes to whether is Venmo safe to use with strangers, the answer is no. Users will experience scams perpetrated by unscrupulous individuals through Venmo during the using process.

Venmo Scams: Risks of Using Venmo

Cyber scams are the most dangerous risks that users need to prevent when using a mobile app such as Venmo. Most wrongdoers rely on psychological manipulation rather than advanced programming skills to trick victims into spiting their info and assets out.

We have listed the common types of scams from users' actual experiences posted on Reddit and provide you with solutions.

reddit topic about venmo scams

A Reddit Topic from WorldOnFire83

1. Fake Payment Scams

Scammers send money by mistake and ask for it back, only to cancel their initial transfer later. Always verify with Venmo directly before returning funds to strangers.

Scenario: You suddenly receive a transfer from a stranger who urgently contacts you and says that the money was transferred by mistake and wants you to return it. However, after you have transferred the money back to the person in good conscience, you will realize that the transfer you previously received has been reversed.

Prevention: Never make a transaction with a stranger. In the event of an "accidental payment" contact Venmo at the earliest opportunity and ask them to reverse the payment.

2. Fake Buying Scams

Sellers may urge you to mark transactions as purchases for protection. Be cautious and verify the legitimacy of the transaction.

Scenario: When you purchase an item through Venmo, the crooks will first convince you to make a payment and send you fake shipping information or convince you that they've kept their promise.

Prevention: When buying something, no matter how much the seller convinces you, you should always mark the payment in your profile as a purchase. This way your payment will be protected and Vemon will cover it if something goes wrong.
fake buying scam

Image from Venmo

3.Prize and Phishing Scams

Be wary of texts claiming you've won a prize, often a tactic to phish for personal information. Use secure networks and consider a VPN for additional safety.

Scenario: The scammer will inform you via text that you have won a prize and direct you to click on the link to redeem the prize. This is a typical phishing scam, which aims to obtain account information by the user clicking on a phishing link in order to facilitate the hacker to carry out the next step.

Prevention: Don't easily click on links sent by strangers and refuse to enter your personal information on any unofficial websites. Meanwhile, to strengthen the security of online surfing, you can also use a VPN to encrypt all real information.
fake prize scam

Image from Venmo

4. Fake Profile

Confirm the identity of friends or relatives on Venmo before transferring money. Scammers often impersonate known contacts.

Scenario: Scammers are likely to impersonate your friends or relatives by changing the account's profile, and gaining your trust in order to scam you out of money or your personal information. Of course, they will also use fake profiles to chat with you and coax you into making money transfers.

Prevention: If you receive a request to transfer money from someone you know on Venmo, use other apps to establish the authenticity of the matter with them first. If you meet a stranger who comes to strike up a conversation with you, do not lend them money, no matter what the situation.

5. Suspicious Calls and Texts

Ignore requests to click on links or provide personal information via text or call. Venmo's official communication won't ask for sensitive data this way.

Scenario: Law-breakers also rely on text messages or phone calls to scam. They pretend to be Venmo staff and ask you to perform various actions in order to cooperate with official activities, but their purpose is to make you click on phishing links or pay for "technical services".

Prevention: Keep in mind that Venmo does need to verify your identity, but the procedure does not include clicking on any links. If you receive such a text or call, you can contact Venmo directly to determine the authenticity of the message.

These are the five common types of Venmo scams. It is important to note that Vemon is a mobile payment program, and the risks involved in using it actually occur with many other mobile apps. Therefore, please always be vigilant when surfing the internet.

How to Stay Safe on Venmo?

To use Venmo with peace of mind, in addition to relying on the protection that Venmo provides, you also need to take some extra steps to ensure your safety.

Here are some tips for safe venmo ssage that can enhancing your Venmo security.

  1. Use Strong Passwords: Create a strong and unique password for your Venmo account and change it regularly. The free Password Generator may give you a hand.
  2. Adjust Privacy Settings: Adjust the privacy settings to control who can see your transactions and personal information.
  3. Lock Your Venmo: Lock the app with a PIN code and use multi-factor authentication to prevent others from logging in.
  4. Trade Only with Known Contacts: Beware of scams by conducting financial transactions only with businesses or people you trust.
  5. No Storing Money: Venmo is not a service that specializes in storing money, please keep your property in a bank account that is FDIC insured.
  6. Secure Your Network: When using Venmo, it's safer to do so over a secure and private internet connection rather than public Wi-Fi. Also, you can use a VPN with powerful features such as X-VPN to hide your real IP, encrypt and protect your data, and keep security risks to a minimum.

💡Note: Also, you can check this blog of VPN Test to get more information about VPN security.


Is Venmo safe? After reading this blog, I am sure you already have your answer. Venmo is a payment service that facilitates people's lives and provides multiple measures to keep its users safe, you can safely use it with people you know. However, because of the presence of certain miscreants, you always need to be aware of the scam risks involved in using Venmo.


Is Venmo free?

Yes, Venmo is free to use. You can send or receive money using your account or bank account without any cost in Venmo. But you should note that if you use a credit card for sending money, there will be a 3% fee.

Why you shouldn’t use Venmo?

This is because many people are still skeptical about whether it is safe to use Venmo. As a matter of fact, Venmo itself is very safe and provides all kinds of security for its users, including encrypted info and multiple authentication. However, due to the presence of some unscrupulous individuals, scams through Venmo have kept many users on their toes. You can actually use Venmo, but please only engage in monetary transactions with people you know or trusted merchants, as this will drastically increase your security.

Is Venmo owned by PayPal?

Yes, Venmo is owned by PayPal. It was founded in 2009 and officially joined the PayPal family in 2013.

Which is safer: Venmo or PayPal?

In fact, they are both safe software to use. They both offer strong security features for all users to protect their basic rights from being violated. Whether it's information encryption, multiple authentication technology, and a dedicated customer service support team, they will keep your assets and information protected and secure as you use Venmo and PayPal.