Can someone explain to me the value added of such a service vs simply making a bank transfer from your bank's website?
'apps'
It’s Easy to Get Scammed on Venmo
21–30 of 63 posts
Re: It’s Easy to Get Scammed on Venmo
#22>In summer 2012, Venmo was acquired by online payments platform Braintree, which was in turn bought out by PayPal in the fall of 2013.
Ah, that explains it. PayPal is a company that has no problems with stealing money from its own customers, so it's no surprise that they're perfectly happy being complicit in fraud.
Re: It’s Easy to Get Scammed on Venmo
#23If I understood correctly, the whole damn scam is only possible because this Venmo's terms of service prohibit something called "merchant transactions" and allow for reversing or cancelling transfers if they deem or someone reports a payment to fall in "merchant" category? If so, then the problem is only a completely artificial one and made of mere policy decisions. Venmo could just act as a blind intermediary, no qu…
> I assume that it goes in a relatively similar way in the USA.
Hahaha no. Banks here charge $30 to send money instantly via "wire". ACH is cheaper but takes days to clear.
Re: It’s Easy to Get Scammed on Venmo
#24Can someone explain to me the value added of such a service vs simply making a bank transfer from your bank's website?
I imagine for some its the impression that the transaction is instant, despite being a veneer over the same system that a regular bank transaction would use. I imagine that veneer is almost entirely their value prop to customers.
Re: It’s Easy to Get Scammed on Venmo
#25I'm curious if the folk who got scammed w/the e-ticket sales could have waited until the funds are literally in their bank account before they emailed them the tickets. Surely, it is a helluva lot easier to reverse some Venmo balance than it is for Venmo to pull money out of your bank account, so that they can refund a scammer. I've never touched Venmo and now after this, never will touch Venmo and will make sure eve…
I would assume that Venmo would try to pull the funds back from the bank account in that case. I know that happens with paypal. I have my paypal account linked to a subaccount with my bank that is only used for paypal to address that.
Re: It’s Easy to Get Scammed on Venmo
#26I'm curious if the folk who got scammed w/the e-ticket sales could have waited until the funds are literally in their bank account before they emailed them the tickets. Surely, it is a helluva lot easier to reverse some Venmo balance than it is for Venmo to pull money out of your bank account, so that they can refund a scammer. I've never touched Venmo and now after this, never will touch Venmo and will make sure eve…
No, not really. The scammer can use a stolen Amex card to send payments. When the card is reported stolen and charges reversed, that goes all the way back to the user's bank account.
Would be silly of Venmo to do otherwise, as that would be an easy way for them to go out of business.
Re: It’s Easy to Get Scammed on Venmo
#27Earlier quoted context omitted.
We shortened it because of the linkbait "you", or rather the even-more-linkbait "you don't". Take that out and you get "Venmo Scammers Know Something", which is redundant. Take out the redundancy and you get "Venmo Scammers". Suggestions for a better title are welcome, as always, but don't forget that HN's rule is to use the original title unless it is misleading or linkbait .( https://news.ycombinator.com/newsguidel…
Their original title was "It's Shockingly Easy to Get Scammed on Venmo" (it still pops up on google like that) but it seems they've decided 'shockingly' alone is not baity enough. But it's a decent title without it. The article is not so much about Venmo scammers but about how easy it is to get scammed on Venmo and how Venmo isn't going to help you.
Ok. That doesn't show up as a title to me, but it is a heading on the page, so we'll use it. Without the "shockingly", obviously.
Re: It’s Easy to Get Scammed on Venmo
#28Do people really pay 5K to go see a single Basketball game.
Re: It’s Easy to Get Scammed on Venmo
#29Earlier quoted context omitted.
Their original title was "It's Shockingly Easy to Get Scammed on Venmo" (it still pops up on google like that) but it seems they've decided 'shockingly' alone is not baity enough. But it's a decent title without it. The article is not so much about Venmo scammers but about how easy it is to get scammed on Venmo and how Venmo isn't going to help you.
Ok. That doesn't show up as a title to me, but it is a heading on the page, so we'll use it. Without the "shockingly", obviously.
Oh they just changed it, for whatever shocking reason. But Google (and, shockingly, every content-farm around) remember.
Re: It’s Easy to Get Scammed on Venmo
#30PayPal discovered early on that they're not really in the payments business, they're in the security business. Handling problems costs PayPal more than doing the money transfers. Although PayPal owns Venmo, that expertise doesn't seem to have been transferred.