Selling Stuff Online? Beware of the Facebook Marketplace Overpayment Scam
You decide to clear out the garage and list a few old items, like a sofa or a bicycle, on an online marketplace. Almost immediately, you get an enthusiastic message from a buyer. They want the item, they won't even haggle on the price, but they insist on paying you instantly through an app like Venmo, Zelle, or CashApp.
It feels great to make a quick sale! But take a deep breath. Getting an instant buyer isn't always good luck. You need to be aware of an online shopping scams warning that targets sellers. Criminals use fake payment emails to trick you into sending them money or handing over the item for free.
3 Warning Signs of a Buyer Scam
Scammers pretending to be buyers are very persuasive, but they all use the same tricks. Look out for these signs of a facebook marketplace venmo scam:
1. The "Business Account Upgrade" Trick
The buyer says they sent the money, but you receive an email (supposedly from Venmo or Zelle) stating you must pay a fee to "upgrade to a business account" to receive the funds. This email is fake; the payment apps do not work this way.
2. Refusing to Meet in Person
They will have an excuse for why they cannot pick the item up themselves—they are out of town, in the military, or busy working. They will claim a "relative" or a "courier" will come collect the item once you accept their digital payment.
3. Sending Too Much Money
In an overpayment scam, they send you a fake digital check or email for $500 when the item was only $100. They ask you to kindly refund the extra $400. If you do, you lose your own money, and their original "payment" will eventually bounce.
What to Do Next
If a buyer starts acting suspiciously or demanding you check your spam folder for a payment receipt, stop communicating. Block their profile on the app. Remember that if you fall for a fake digital transfer, the zelle scam refund policy (and others) generally states that authorized transfers cannot be reversed. Once the money is gone, it's gone.
The Golden Rule
Cash is king for local online sales. Only accept cash in person, in a safe, public place. If a buyer insists on complex digital payments or involving couriers, walk away from the deal.