Facebook introduced Marketplace as a new way to sell homemade and second-hand items. Of course, like Craigslist, this also opened the door for scammers to take advantage of unsuspecting buyers. Before using Zelle on Facebook Marketplace, let’s learn about a successful scam that led many to fall victim to some nefarious scammers and scammers.
What is Zell Facebook Marketplace Scam?
Zelle, a popular peer-to-peer money transfer service, has become one of the preferred payment methods on Facebook Marketplace, thanks to an instant transaction system. Unfortunately, these transactions are also irreversible, making them perfect for various scams.
If you sell something on Facebook Marketplace, you need to have some street smarts to avoid getting scammed. Especially since Zelle won’t help you get your money back.
Here’s how the scam works (and note that Zelle isn’t the only peer-to-peer payment service vulnerable to this scam):
- You put an item up for sale (usually a high-value item).
- A potential buyer contacts you and wants to purchase the item using Zelle (or another PTP payment service).
- The buyer sends you a payment, but you receive an email from Zelle telling you that you must pay $300 to update your account and transfer the funds.
- The buyer then sends you the fee because it will surely be refunded to you after the upgrade (hopefully you’ve caught on to the scam by now).
- The scammer will send you screenshots of the funds sent.
- You will soon realize that it was all a hoax and that the scammer never sent you any money.
According to the BBB, this scam works pretty well.. Sellers experience immense pressure to refund upgrade fees because the scammer is playing on the goodwill of innocent people.
Avoid Zelle Facebook Marketplace Scam
Zelle does not offer a protection plan for transactions authorized by the account owner. Even if they acknowledge that they have persuaded or tricked you into authorizing a payment, you are unlikely to get your money back. So it’s best to be careful. But how do you spot Facebook Marketplace or Zelle scams?
Don’t worry; We’ll look at some surefire ways to avoid becoming a scammer’s next victim.
Overpaying for an item
As you can see from the scam, it is never a good idea to transact with buyers who are willing to overpay you. One of the first red flags you’ll notice with any Facebook Marketplace scam is when people are overly nice and accommodating. While it is a sad reality, most people do not trust you enough to send you more money than is necessary to complete a transaction. They certainly won’t overpay you for an item.
If someone is a little more accommodating than the average buyer, it’s probably best to walk away from the sale. It is better to wait for an honest buyer than to lose your money or his item to a scammer.
Upgrade to a business account
In general, you shouldn’t have to make any changes to your peer-to-peer payment accounts to accommodate a buyer. If someone sends you money from a business account and you can’t get it back, ask them to send it through PayPal or Venmo. But don’t feel bad either. If the buyer is legitimate, he will figure out how to get you the money.
Check emails
Scammers then spend a lot of time making the emails (and, in this case, screenshots) look legitimate. No matter how legitimate one of these communications seems, it’s a good idea to have some security measures in place.
For example, in the Zell Facebook Marketplace scam, victims received emails from multiple email addresses, such as [email protected]. While that appears to be legitimate, it was not. Honestly, most emails coming from companies would have the title after the @ symbol. So, that’s a big clue.
If you have any concerns about a communication, it is best to call or chat with a representative by calling the company’s customer service or official chat line (do not use any links or numbers provided to you in the suspicious email ).
Is Zelle safe for Facebook Marketplace?
Zelle can be used safely on Facebook Marketplace, as long as you know what the service offers and what it doesn’t.
In Zelle, you can do the following:
- Instantly transfer funds from one account to another
- Immediately view deposits and withdrawals through online banking
However, this money transfer system cannot do any of the following:
- Charge fees for receiving or sending funds
- Upgrade your account to a business account
In fact, Zelle does not offer business accounts. Only your bank can offer multiple account types and decide which one will be linked to your Zelle account.
If you’re still unsure, pay attention to the email you supposedly received from Zelle. When an email is fake, it often contains bad grammar. Additionally, the sender’s domain name will be AOL or Gmail instead of Zelle.
So if you stay vigilant, you’ll have no problem using Zelle to make and receive payments for items on Facebook Marketplace.
Can you send money through Facebook Marketplace?
Facebook Marketplace does not have a built-in payment mechanism. As a result, you will need to make the payment through a third-party service.
Both parties must agree on which method to use. However, shady buyers often gravitate towards untraceable payment methods that allow them to get away with it.
In addition to Zelle, scammers tend to insist on the following payment methods:
- Money
- Gift cards
- Venmo and similar apps
If you want to avoid being scammed, we suggest using payment processors who will investigate fraud claims on your behalf and provide transaction security. Accredited Facebook Marketplace merchants typically use debit cards or PayPal.
These payment services can also be used to make payments through Facebook Messenger. Although not exclusively targeted at the Marketplace, this can be a useful method for sending money as a buyer or requesting payments as a seller.
There are several requirements to use Messenger as a payment method:
- You must have an active Facebook account.
- You must be 18 years or older.
- You must live in the United States.
- The receiving party must live in the US.
If you meet these criteria, you can fund your payments using a debit card issued by a US bank or a PayPal account.
For a hassle-free process, you can use any version of Facebook Messenger, including the following:
- messaging desktop application
- Delivery courier application for Android
- Delivery courier application for iPhone
How they scam people with Zelle
Most Zelle scams involve manipulating people with false information and scare tactics. In this way, scammers get fraudulent money transfers authorized.
Unfortunately, Zelle is very conscious of these practices, but their policy dictates that there is nothing they can do if you have voluntarily authorized a payment. The service suggests contacting your bank or credit union if you think you’ve been scammed, but there’s little they can do about authorized payments. After all, the Electronic Fund Transfer Law It protects consumers only in cases of unauthorized payments.
Although scams on Facebook Marketplace have become common, they are not the only way to get scammed with Zelle.
Confirm a large payment
If a scammer gets your email or phone number, they can contact you posing as the bank. Initial contact is usually made via text message or email asking you to confirm an important Zelle payment. Naturally, this payment is fake, so the recipient responds that they have not authorized any payment.
The next step is a phone call from the “bank” that will tell you how to reverse these claims. Of course, this process includes transferring money directly to the scammers.
This scam can be tricky, as scammers often spoof your bank’s phone number. Therefore, the caller ID matches the bank.
You can easily avoid this scam by checking your Zelle transaction history. Any payments made on your behalf will be shown there. If you want to be completely sure, contact your bank directly and check the validity of these statements.
A compromised bank account
Another common scam involves a message or email stating that your bank account has been compromised and requires immediate action. If you respond, the scammers will follow up with a phone call and aim to guide you through the process of protecting your account. Again, this process will involve transferring a specific amount of money directly to the scammers.
Unpaid utility bills
Banks aren’t the only institutions that scammers like to imitate. Another common scam includes posing as utility companies. They then proceed to inform you that you have not paid your utility bills and threaten to disconnect the service in question. The only way to resolve this issue immediately is to send them a Zelle payment, which of course turns out to be fraudulent.
Be safe, stay alert
When you combine fun offers on Facebook Marketplace and the convenient payment service that Zelle offers, your shopping experience can be fantastic. That is, of course, if you are aware of the tricks that scammers tend to use to trick you out of money. You can always check with your bank or Zelle. application before making an irreversible decision to send money to a potential scammer.
