UPDATE: Are Zelle, PayPal, Venmo and other P2P services safe?

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Teresa Murray
Consumer Watchdog

Author: Teresa Murray

Consumer Watchdog

 

Started on staff: 2020
B.A., Kent State University

Teresa directs the Consumer Watchdog office, which looks out for consumers' health, safety and financial security. Previously, she worked as a journalist and columnist covering consumer issues and personal finance for two decades for Ohio's largest daily newspaper. She's earned dozens of state and national journalism awards, including Best Columnist in Ohio, Best Business Writer in Ohio, and National Headliner Award for coverage of the 2008-09 financial crisis. Among the accomplishments she’s most proud of: A journalism public service award for exposing improper billing practices by Verizon that affected at least 15 million customers nationwide. Her work caused Verizon to reach an $80 million settlement with the FCC, the largest ever imposed at that time. Teresa and her husband live in Greater Cleveland and have two sons. She enjoys biking, house projects and music, and serves on her church missions team and stewardship board.

Fraud involving peer-to-peer payments continues to be a problem. Zelle, PayPal, Venmo, Square, etc. can all be risky to use if you don't know who you're dealing with. It's almost impossible to get money that you actually send back in your account.

See our tips guide on the pros and cons of paying different ways -- credit cards, debit cards, checks, p2p, cash or online through your bank.
https://uspirgedfund.org/feature/usf/choosing-best-way-pay-cash-credit-cards-debit-cards-p2p-checks-or-online-payments
 

 

Teresa Murray
Consumer Watchdog

Author: Teresa Murray

Consumer Watchdog

 

Started on staff: 2020
B.A., Kent State University

Teresa directs the Consumer Watchdog office, which looks out for consumers' health, safety and financial security. Previously, she worked as a journalist and columnist covering consumer issues and personal finance for two decades for Ohio's largest daily newspaper. She's earned dozens of state and national journalism awards, including Best Columnist in Ohio, Best Business Writer in Ohio, and National Headliner Award for coverage of the 2008-09 financial crisis. Among the accomplishments she’s most proud of: A journalism public service award for exposing improper billing practices by Verizon that affected at least 15 million customers nationwide. Her work caused Verizon to reach an $80 million settlement with the FCC, the largest ever imposed at that time. Teresa and her husband live in Greater Cleveland and have two sons. She enjoys biking, house projects and music, and serves on her church missions team and stewardship board.