Why You Shouldn’t Send Money to Strangers With a Money Transfer App

Why you should never send money to strangers with a money transfer appChris Elliott had a great post recently on why you should never send money to strangers with a money transfer app tied to your bank account. Read the whole story to see the example (long story short: a woman lost $1,300) but the idea is that apps like Venmo are designed for paying friends and family quickly, and that’s what you should use them for. You don’t want to purchase anything through them if you can avoid it, and you especially don’t want to purchase travel. Why? Because with these apps, your money isn’t protected the way it is when you pay with a credit card. As Chris states, “The Fair Credit Billing Act protects consumers who use their credit cards to make payments to merchants. If a merchant does not provide the goods or services as agreed upon, you’ll get your money back. Unfortunately, if you use your debit card or direct withdrawal from your bank account, you’re not protected.”

Related: Travel App of the Week: Venmo

 

____________________________________________________________

Have your own tip? Email it to whitney@johnnyjet.com!
Want to see more tips? Click here for all 1,340!

Want even more travel tips? Sign up here for the Daily Travel Tip newsletter! Just fill in your email address and check the Daily Travel Tip box—and you’ll have Johnny’s best tips, straight to your inbox each day!

If you already subscribe to our weekly newsletter, you can sign up on the same page. Just fill in your email and check the Daily Travel Tip box on the same page and you’ll receive an email with a link to update your JohnnyJet.com preferences. On that page, just click the Daily Travel Tip box and Update Profile.

Johnny Jet

The comments on this page are not provided, reviewed, or otherwise approved by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.

Rate this post

About the Author

Johnny Jet
I used to be afraid to fly and at times even leave the house! I conquered my fear (long story) and now I travel to 20+ countries a year sharing my firsthand knowledge, tips and deals with friends, family and readers. Please sign up to our free newsletters and tell your friends!

Be the first to comment on "Why You Shouldn’t Send Money to Strangers With a Money Transfer App"

Leave a comment

Your email address will not be published.