I'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 everyone who suggests it, read this prior to using it.
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.
But why would the bank reverse the transaction? From venmo viewpoint it is quite clear why they would want to reverse it, because they have changed the credit to actual funds. However the bank probably would want to protect their customer, and instead let venmo to take the hit.
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.
I've never touched Venmo and now after this, never will touch Venmo and will make sure everyone who suggests it, read this prior to using it.