(Topic ID: 232591)

Venmo payment to hold a machine?


By duke1234

3 months ago



Topic Stats

  • 22 posts
  • 16 Pinsiders participating
  • Latest reply 3 months ago by grantopia
  • No one calls this topic a favorite

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    #1 3 months ago

    Anybody ever send money to a buyer to hold a machine? I was asked to use Venmo, but they don't seem to offer protection? Any recommendations to send money to hold a machine with some "protection" for the buyer if something happens? aka.. seller doesn't hold the machine and won't refund etc....

    #2 3 months ago

    No - cash on the glass of use escrow.com to be protected.

    #3 3 months ago

    Well, I've never sent money to the buyer soooo I'd recommend against sending money to a buyer

    #4 3 months ago

    lol, good advice

    -3
    #5 3 months ago

    Pinside must be a decade behind in their paranoia of various payment methods. Everyone is out to get you? Banking online.... For heavens sake no. They'll get you ya know.

    #6 3 months ago

    It’s a PayPal company and most folks around here don’t care for them when paying for pins. And, for the record, I do bank online.

    #7 3 months ago
    Quoted from Djshakes:

    Pinside must be a decade behind in their paranoia of various payment methods. Everyone is out to get you? Banking online.... For heavens sake no. They'll get you ya know.

    Well, if there is no seller protection, and you don't know the seller than avoid at all costs. Pinball, being a high priced market, brings in a lot of scammers.

    #8 3 months ago

    I actually think you are safer with PayPal then Venmo

    #9 3 months ago
    Quoted from tacshose:

    I actually think you are safer with PayPal then Venmo

    Yeah, me too.
    Cash on the glass, escrow.com, or paypal goods and services. That's it.

    #10 3 months ago

    It sounds like you are the one sending in this case? I wouldn't use PayPal at all to send to someone: cash on the glass.

    I've offered to hold machines with a small PayPal deposit, which is refunded on pickup of the game and the price is then paid in full in cash.

    Too many bad experiences, both personal and anticdotal to let a middleman notorious for seemingly random dispute decisions hold my money. I work for a bank and while Venmo is "safer" than PayPal as its going P2P and much less subject to a charge back, you're still giving your bank account info to a third party, so it's one more point of potential identity theft and account compromise.

    I treat all these services like a casnio: cool and easy, but only take what you're willing to lose in the long run.

    #12 3 months ago

    Thanks guys for the advice... Seller wanted me to pay half the price to hold.. that's a lot of money... So I will pass. Not worth the hassle if something goes wrong. Happy new year to everyone!

    #13 3 months ago
    Quoted from duke1234:

    Thanks guys for the advice... Seller wanted me to pay half the price to hold.. that's a lot of money... So I will pass. Not worth the hassle if something goes wrong. Happy new year to everyone!

    Yeah, sounds fishy anyway, 1/2 is way high for a deposit request. $100-$500 depending on the game should be enough.

    #15 3 months ago
    Quoted from herbertbsharp:

    Yeah, sounds fishy anyway, 1/2 is way high for a deposit request. $100-$500 depending on the game should be enough.

    Agreed. Honestly even that seems high. The most I've ever taken is 50 bucks and usually I don't even ask unless there is a ton of demand coming in or the buyer seems flakey. Usually anyone from the FB marketplace that is taking more than a day to pick up is where I ask for a deposit and they usually just back out as soon as I do.

    #16 3 months ago

    If the buyer wanted to "send a deposit" by Paypal or whatever, tell them that will hold it, but when they come to pick it up they better bring ALL the cash.

    You can refund their Paypal deposit to them.

    Tell them you are too close to the $10,000 limit, and don't want to have to pay any taxes on a big Paypal deposit.

    #17 3 months ago
    Quoted from Djshakes:

    Pinside must be a decade behind in their paranoia of various payment methods. Everyone is out to get you? Banking online.... For heavens sake no. They'll get you ya know.

    I'm pretty sure there is a difference between me paying my Comcast bill using my bank's bill payer and blindly sending someone I've never met $5,000. But then again, maybe that's just me.

    #18 3 months ago

    Venmo is as good as money. We are living in the future boys.

    I'm serious, though. It's going from bank to bank. Should be safe. I've used it for a year straight with no problems to both pay and receive money.

    Now, if you dont know this guy, then yes. It is stupid. Might as well just mail him the money.

    #19 3 months ago

    I wouldn’t send an unknown seller a big deposit by Venmo, Paypal, or Pony Express. That said I had PayPal and got my account and credit card hacked. Have had Venmo account just as long as had PP and no problems. And btw: I bank online too.

    #20 3 months ago

    I'll usually hold a machine for $100 for others. Half seems a lot to hold a machine: I'd ask why so much and counter a smaller amount. But only after talking on the phone and getting a feel for the seller. But if they aren't a pinsider you can research, I wouldn't move forward with a large deposit.

    I've done half once before for a machine: but that was a retailer I saw in person who was going to get it broken down, cleaned, and wrapped for me to pick up.

    #21 3 months ago

    Any time someone has tried to give me a giant deposit, it has always turned out to be a scam.

    Who would want to risk giving a large sum to a total stranger?

    #22 3 months ago
    Quoted from jorant:

    Venmo is as good as money. We are living in the future boys.
    I'm serious, though. It's going from bank to bank. Should be safe. I've used it for a year straight with no problems to both pay and receive money.
    Now, if you dont know this guy, then yes. It is stupid. Might as well just mail him the money.

    The transaction itself is generally safe, the issue I see most people run into is account take over. You're giving your bank info to a third party, and now you have a Venmo account on a high loss, high theft mobile device that can be easily accessed. Someone can get your credentials, or Venmo itself could suffer a data breach and now someone has direct access to your cash and bank info.

    I'm not trying to derail the thread and it's obviously convienent and easy to use, but its not a risk free service is all.

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