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Is Venmo like Gift

Discussion in 'Classifieds Usage Discussion and Help' started by Burwabit, Sep 4, 2018.


  1. Burwabit

    Burwabit Likes guitars that tune good and firm feelin women Supporting Member

    Apr 4, 2011
    Lubbock, TX
    I’ve been seeing a lot of ads asking for Venmo payment. Isn’t this basically like asking for PayPal friends and family aka gift, offering no buyer protection? If so should it be banned as such?

    Disclaimer... I have limited Venmo experience and may not be aware of it's full capabilities. Please correct me.
     
  2. Fred312b

    Fred312b Proof that gear doesn't make you a better player Supporting Member

    Apr 23, 2002
    Chicago, IL
    Venmo is a Paypal product, but it is fee free. However, it isn't guaranteed (ie: I send you a Venmo for $100, you transfer it to your bank account and in a few days find out I didn't have the funds). There aren't any sales protections or anything either.

    Sellers can ask for fee free payments (like a postal money order, certified check, etc.), I believe the reason we're not allowed to use the Paypal one is it is intended for friends and family and not for business transactions.

    From the FAQ's
    • No surcharges on an item are allowed, this includes the 3% for Paypal. That fee is the seller's responsibility, not the buyer. Paypal's usage agreement specifically prohibits this.
    • Do not request a payment be sent through Paypal as a personal payment or gift. This leaves the buyer with no recourse should there be a problem - Paypal does not allow for contesting gift transactions. This is also against the Paypal usage agreement, and can result in action taken against both the buyer's and the seller's accounts.
     
  3. two fingers

    two fingers Opinionated blowhard. But not mad about it. Gold Supporting Member

    Feb 7, 2005
    Eastern NC USA
    I just did a little Googling around to get up to date.

    Whether or not it should be "banned" is up to the powers that be around here. They seem to have a pretty good grasp on things.

    But I can assure you I will never do a sale transaction with it. Their own website says it is NOT intented for "sales of items between strangers".

    There are no protections for either party. So it should NEVER be used for salws in my view.

    And it DOES seem to be a tactic used by sellers to get around the 3% fee (and possibly TalkBass policy.... but I'm not sure on that one).

    Perhaps @paul can help clear this up?
     
    mbelue likes this.
  4. Bob Clayton

    Bob Clayton valar morghulis Staff Member Supporting Member

    Aug 14, 2001
    Philly Suburbs
    Apparently using Venmo for goods and services is against their User Agreement, so if you choose to, 1) there will be no buyer protection, 2) i imagine both parties could lose their accounts.
     
  5. Fred312b

    Fred312b Proof that gear doesn't make you a better player Supporting Member

    Apr 23, 2002
    Chicago, IL
    Well that was the smart way to do it...
     
  6. Gorn

    Gorn

    Dec 15, 2011
    Queens, NY
    As I understand it, venmo is paypal + social media. It's PayPal with avatars and a chat function. It's silly.
     
  7. Fred312b

    Fred312b Proof that gear doesn't make you a better player Supporting Member

    Apr 23, 2002
    Chicago, IL
    Looks like Zelle is the same way...

    3. Prohibited Uses

    The Service is intended for personal, not business or commercial use. You agree that you will not use the Service to send or receive payments in connection with your business or commercial enterprise. We reserve the right to decline your registration if we believe that you are enrolling to use the Service with your business account or to receive business or commercial payments. We further reserve the right to suspend or terminate your use of the Service if we believe that you are using the Service for business or commercial purposes, or for any of the uses identified directly below.

    - Ponzi or pyramid schemes.

    I personally think the whole TB classifieds is a pyramid scheme- we all sell gear to buy more gear... :D
     
  8. Burwabit

    Burwabit Likes guitars that tune good and firm feelin women Supporting Member

    Apr 4, 2011
    Lubbock, TX
    I agree and given this and the Venmo user agreement, it should be banned from use on Talkbass just like it’s sister Gift, and for the same reasons.

    Not really when used locally. It’s great and easy way to pay people back who you know or split cost on something. The social side just makes it easier to use for people like my wife.
     
  9. Gorn

    Gorn

    Dec 15, 2011
    Queens, NY
    I suppose. Paypal can do the exact same thing though. So whatever cutesy social features they add still seem silly to me. It's just one more thing you need a username and password for. One more thing to give your email address to. One more connection of your information to the internet. Silly.
     
  10. Burwabit

    Burwabit Likes guitars that tune good and firm feelin women Supporting Member

    Apr 4, 2011
    Lubbock, TX
    Like it or not, cutesy social features are big business.

    But, to get back on topic, I don’t believe Venmo should be used on the internet between strangers for purchase of goods. Sellers want it because it’s fee and risk free like Gift. I saw a listing on TB a few minutes ago that said “Venmo only.” @paul is it an ok form of payment?

    (I feel like I’m at-ing Jack on Twitter haha.)
     
  11. paul

    paul Staff Member Founder Administrator

    Jul 20, 2000
    Texas
    We have a policy discussion going on amongst the mods. More soon -
     
    Burwabit likes this.

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