[EdFNJ]

Originally Posted by Caymus

FWIW, Consumer Advocates like Clark Howard do not like these services. His main issue is the lack of customer protections. A standard checking account has much more safeguards.

Of course True, and handing someone cash in person has even more safeguards.

Checks don't serve the same purpose as the payment methods being discussed, it's Apples and Peaches.. The purpose of these payment methods get cash to someone in seconds not days or weeks like a check takes. I have probably written 10 checks in the last 15-20 years. My remaining checks (and account numbers which never changed ) are from probably from over 15 years ago when Union Center National Bank got bought by City Federal who got bought by First Union who got bought by Wells fargo (probably missed a couple in between).

"Clark Howard" actually has very LITTLE bad to say about Zelle and the others other than to keep a separate checking account and watch out for obvious fraud. Doesn't the fact seniors get sucked into the bad stuff more than others tell you something? Can't blame the SERVICE for that. One needs to take responsibility for what they do wrong.

Howard says: Fraudsters are actively trying to exploit Zelle and other payment apps, so Clark advises using it only when transacting with a person you know. [DUhhhh!!!]

In fact, on the Zelle website, it says, “You can send money to almost anyone you know and trust with a bank account in the U.S.” The “almost anyone” part means that Zelle intends this app to be used only by close associates.


Exactly. If some Nigerian Prince asks you to send him $1000 by Zelle to free your little grandson from the head hunters of southern Monrovia one has to CAREFULLY think about it before sending.

[Luggage]

Venmo has few real protections, is not federally regulated like credit cards. PayPal is much better at Fraud and scams . And better yet if someone needs money the next day or two send them a check express mail.

[Mistymom]

I have never used any of these services myself for sending money because of an experience with a friend. She carelessly didn't "close" her transaction when she sent money to her grandson. Apparently, someone in a foreign country was able to monitor "open" accounts and they cleared out not only her checking account, but her linked savings account! I have always been concerned about hackers and this is why I don't have my checking and money market accounts linked for automatic overdrawn coverage.

Also, when I had a yard sale and also sold furniture, people asked if I would accept Zelle or other forms of electronic payments and I wouldn't because I didn't know them. A person going to a yard sale should come prepared with cash and someone purchasing furniture can swing by their ATM.

[thevillages2013]

Originally Posted by Topspinmo

I gotta ask???? How did you get ex wife to send you money?

Maybe he can coach us up on that concept! I would like to know how he pulls that off.

[JeanC]

Originally Posted by BrianL99

May be of interest for those who use VENMO (70,000,000 people)..

VENMO recently added a "Button" when you send money to someone, which offers you "Protection for this Transaction" ... at no cost to the Sender. They charge the Recipient, 1.9% + 10¢. I got charged $12 when my ex-wife transferred money to me.

Be careful. This Option can be triggered by what you write in the "Notes" section. The notes are evaluated by a algorithm and automatically activate the Fee.

We use venmo a lot to split bills, send money to young adult kids, etc. if we send to a new recipient, we always send $1 first to make sure we have the correct person, then we will send the correct amount.

[maggie1]

Originally Posted by EdFNJ

This has nothing to do with credit cards or gas stations or restaurants. The advantage to Venmo, PayPal, Zelle and others is if for example you want to send your grandkids or friend money you can do it for free in instantly. You can't do that with a credit card and if you want to send cash through the mail, good luck or a check would take days. Nothing is foolproof. The world is changing. You just have to be careful and not fearful of technology.

After reading this response, I had to ask myself "When was the last time that I needed to send my friends or grandkids money where a check wouldn't suffice?" Nope, can't think of one. Your comment that nothing is foolproof can't be more spot on. Unfortunately, we've had several people in TV who have been taken by people calling or sending an email, claiming to be from Amazon or sheriff's office, and yes, even someone posing as the person's grandchild and that they needed money to pay a bill, bail, or a fine. Then you know how this turns out, don't you? The person is out hundreds if not thousands because time to get this transaction taken care of was of the essence, which is where Venmo, PayPal, and Zelle comes into play. Once the person discovers they've been scammed, can they be reimbursed by any of the three? Good luck with that. I don't fear technology, but I can see where it can become harmful to some gullible ancient agers who are only wanting to do the right thing.

[jimbomaybe]

Originally Posted by tophcfa

All this electronic crap is very dangerous. Cash is king and credit cards offer protection for card holders from fraud. That’s all we use.

Good thinking, never carry a balance, the interest rates they charge are brutal, they give you a float on the payment , keep records for you and give you more leverage to deal with the seller if there is a problem and most C/C companies will give you a small amount back, do this with a no fee card and have all the benefits paid for by those who carry a balance, win win situation , but as you say it can be dangerous have things set up so you are notified of any charges

[Indydealmaker]

Originally Posted by VApeople

I totally agree with you. We always pay cash at restaurants but we use a credit card for groceries and gasoline.

If you tip in cash, do you give it to your server in person?

[EdFNJ]

Originally Posted by maggie1

After reading this response, I had to ask myself "When was the last time that I needed to send my friends or grandkids money where a check wouldn't suffice?" Nope, can't think of one. Your comment that nothing is foolproof can't be more spot on. Unfortunately, we've had several people in TV who have been taken by people calling or sending an email, claiming to be from Amazon or sheriff's office, and yes, even someone posing as the person's grandchild and that they needed money to pay a bill, bail, or a fine. Then you know how this turns out, don't you? The person is out hundreds if not thousands because time to get this transaction taken care of was of the essence, which is where Venmo, PayPal, and Zelle comes into play. Once the person discovers they've been scammed, can they be reimbursed by any of the three? Good luck with that. I don't fear technology, but I can see where it can become harmful to some gullible ancient agers who are only wanting to do the right thing.

When people do dumb things with ANYTHING they can get screwed. One person's lack of knowledge or gullibility is only their own fault for falling for a scam. OBVIOUSLY those "types" of folks who are so susceptible to falling for those scams have only themselves to blame but no one wants to admit THEY SCREWED UP so therefor they got scammed. For every person you "know" who has been scammed, there are probably 10,000,000 who have not been. Those scams you listed have been around for 20 years and discussed over and over ad naseum on TV, in newspapers (even the Daily Happy News had it) as well as in letters from AARP!. Sorry, people need to take responsibility for their own lack of knowledge. Some folks (Gullible Ancient Agers you mention) shouldn't be allowed to have ANYTHING BUT a checking account or in many cases not even a key to a car. Age isn't an excuse. My late 93yr old father used all those tools and never was scammed. Age isn't an excuse for getting scammed. LACK OF KNOWLEDGE is.

As for sending grandkids money, we do it often (as did my Father). Checks are so 1990's. Our granddaughter was on a cross country car tour with a friend to visit dozens of national parks. We wanted to send her some gas money and she had it in seconds. Sure we could have bought a prepaid credit card and mailed it to her if we knew where she would have been on any day but there was no mail at campsites in Yosemite or Grand Teton or ontop of Pikes Peak. If one feels uneasy with modern technology then by all means stay away from it and also stay off of Facebook and the rest.

[Haggar]

Originally Posted by VApeople

I totally agree with you. We always pay cash at restaurants but we use a credit card for groceries and gasoline.

I never pay cash unless the purchase is under $5. I currently get 5% rebate on restaurants, 4% on gas, 3% on some items and 2% on everything else. All no fee cards.
With inflation why not get all the rebates you can?

On another point, I use zelle for receiving payments in my business and for both sending and receiving payments personally but only to people I know. The clients send zelle payments to my business email address so they don't have my bank account info. I do not accept credit cards in the business.

Most clients love zelle because they don't have to mail anything anymore.

[Bay Kid]

Originally Posted by Topspinmo

I gotta ask???? How did you get ex wife to send you money?

Never worked with my X and if she did she would figure how to charge me something for doing that.

[mikeycereal]

Originally Posted by maggie1

claiming to be from Amazon or sheriff's office, and yes, even someone posing as the person's grandchild and that they needed money to pay a bill, bail, or a fine.

A few years ago my dad told us a story about the call he got for the grandson needing bail from a foreign country scam. Immediately he was skeptical and asked "which grandson?" the scammer's reply was "Your favorite one." Yeah right he thought and ended the call. People just need to ask questions and figure it out before hurrying to send money to these scammers. Easy to say, but don't become a victim.