Venmo who has it.

And what do you think of it. I sold a powerglide low gearset (550.00 plus shipping) and that’s what this guy uses for payments

Zelle is better

Venmo is an arm of paypal. I pay a landscaper via venmo. I'll never accept money via them.

Why?

I use both. I do prefer Zelle over Venmo, as I can transfer the fund same day. Venmo usually is next day.

Make sure the funds go thru and transfer them into your bank account ASAP! I never leave any monies in their Apps

Thanks. I do that with PayPal to. Then when I order something from like summit they take money out of my checking.

I have used Venmo occasionally for quite a while with no real issues. I have both sent and received money via Venmo.

However the last time I used it I found the Windows interface kind of flakey.

However I was able to use the iPhone app with no issues.

I signed up yesterday and used it today. All seemed to go fine. Thanks guys.

Being an "older guy" it took some use getting used to using it, darn the was a lot of variations on use, but I like that I can get notification of the monies being sent.

I have both and have had issues with Venmo. You have to be real careful when you sign up for it and set everything the way you want it. It took almost a week to get payment from a transport I did. I tell people NOT to use Venmo, only if that is the only thing they have. I use Zelle and Paypal, haven't had any issues with either one...

i won't accept payment from either one unless i personally now the sender. note ------ i RARELY use Venno and never used Zelle.
both are tools used by scammers to get the part you are selling without you actually getting the $$$.
Venmo is especially bad for this.

This is one thing I could never understand. I’ve had paypal longer than I can remember and use it often and have never has an issue. Some guys could write a book on the problems. Same with facebook. I have friends that have been hacked over and over. One of life’s unexplained questions.

I have used PayPal for years and thousands of transactions going both ways with zero problems

I also have received payments by Venmo with no problems , How is it that someone could scam you with Venmo ?
Since Venmo is basically PayPal light , same company but all Venmo payments are like PayPal "Friends and Family" ??

Now using Cash App has been fine for me also receiving payments ,
Only thing is when you transfer money out they sit on it for a few days, where PayPal and Venmo do it over night

Venmo did deduct a small fee out of the money I received and I’m cool with that. I always refused to you the friends and family on PayPal too. Small fee to have some protection.

Well, you are ways in FB jail.

Hey now that’s different. Lol 😂

My understanding is that Zelle is a bank to bank transfer like a debit card and there's no tax implications or reporting. I think this would be great for in person physical goods and services transactions. Like a swap meet were it's "as-is" "where-is" no-refunds" Where there is no reason to refute charges. No whiners or scammers.

Venmo I heard charges if you a fee if want the money instantaneously. Does it have tax implications? Talking to a retail business owner, Venmo is more popular with women.

Someone at the last Fall Fling was taking mobile payment for PayPal, Venmo, and Zelle. There stuff was ebay buy it now priced. They said they made sales solely because they were taking those mobile payments and people didn't have cash. 10-20% of transactions were mobile payments, and 15-25% gross dollars. It was just after the show, so these were shoot from the hip figures. BUT the take away was that 15-20% of your total sales dollars was significant. The younger people entering this hobby don't get the swap meet cash deal.

Unless things have changed, if you take a payment via paypal and hand deliver the item, there is no proof of delivery and you are open to a charge back. BTDT got the screw job from the buyer. Hard Pass.

i use Venmo,Zelle and paypal.. all legit and no issues.

I can see that.

I wouldn’t take PayPal at a swap meet or in person from a stranger.

To me it looks like Zelle is the best for in person transaction for good or services. No refuting charges.

Can a buyer refute charges on Venmo ?

Zelle, while supported by most banks, seems to be the payment of choice by scammers. Zelle apparently has a 'we believe the buyer despite your evidence to the contrary as a seller' policy. As for payments at a swap meet... I used a Square app (remember them?) and sold a LOT more stuff simply because many chose to use a card over cash.

Good info and feedback.

I had heard there was no way to refute a transaction with Zelle..

The square app uses a credit card. Could someone go back and say the item was not what they believed, broken, never received ??

How about "whoever doesn't send me a 1099K at the end of the year", if I'm selling.

There’s not, according to Zelle’s website.

Dennis

Or ask for your ssn or tax id number.

There are some sellers (several on this site alone by the prices they charge) that do in fact make a profit. But many many of us are moving parts we bought and used and are selling at a loss. Example was the gearset I raised the question about. I paid 750.00-800.00 for it and sold it for 550.00 minus 50.00 shipping. So uncle Sam looks at that as I made 550.00 profit. My tax forms are already eight pages for my yearly taxes. This will probable add three more pages.

Agree , I'm selling all my spare used and some new parts off this last year , nice having the extra money
BUT I haven't made a profit on any of it compaired to what I paid for it , So I loss coming up on my taxes

I'm assuming the "loss" was supposed to be "lose" ?

While on the subject, I was wondering IF one were to use different Third party money handlers keeping them all under the MAGIC 599.99 threshold, Would that not prevent a 1099 from being issued ? A PITA for sure BUT

If you are going to pay the taxes on the gross amount on the 1099... don't complain and get to work minimizing the alleged income. It's NOT that hard...

Paying the tax on the gross amount is EXACTLY what the government wants you to do. They expect you to be lazy.

Maybe I'm misunderstanding what you are putting out there.