Zelle/Venmo/Paypal -- Preference? 1 1

[jjonahjameson11]

Hi, folks.

Like most of you, I've been using Paypal for many years, and I was OK with it.  

Recently, some transactions went awry and I'm wondering if Zelle and/or Venmo are better options with regard to seller protection, transaction fees, tax reporting, customer service, etc.

I'd love to hear from you in order to make an informed decision going forward.

Thanks in advance 

[mattn792]

Zelle definitely IS NOT better when it comes to protections.  It’s a one way account to account transaction that is not reversible, so only use it with someone you know you can trust.  I use it to pay my dog walker, for example.

Plus side, there is no fee involved to send or receive a Zelle payment.

[marvelmaniac]

I am an "Old Guy" so I do not use Zelle or Venmo, I have been using PayPal for almost 20 years, (for online purchases, paying some bills such as Auto Insurance). Me personally, I have not had any issues with PayPal and my experience in life has been that if you change/replace something "just because" you usually end up with problems, if something is working for you, leave it alone, "If it isn't broke, don't fix it".

Having said all of that, everybody's circumstances/situations are different, I do not know enough about the p2p apps to say anything bad or good, as my Daughter who is a second grade teacher always says..."Make good choices".

https://www.yahoo.com/video/paypal-vs-venmo-vs-zelle-120000559.html

https://zipbooks.com/blog/paypal-vs-venmo-vs-zelle/

[MattTheDuck]

I have Venmo and have used it very infrequently for comic purchases.  The weird thing to me about it is that it's not interchangeable with PayPal, even though they are owned by the same Company.  By this I mean that I cannot send a payment using Venmo to someone who has PayPal but not Venmo.  My kid swears by it, but I find it limiting and clunky.

I just signed up for Zelle through my bank and was surprised to see the post above that there's no protection against fraud.  Probably the only banking product for which that's the case.  Anyway, I just made my first comic purchase here on the Boards using Zelle, so we'll see if that transaction goes sideways.

I've mainly used personal checks for Board purchases and credit cards for the auction/on-line sites.

[thunsicker]

On 5/24/2022 at 8:34 AM, mattn792 said:

Zelle definitely IS NOT better when it comes to protections.  It’s a one way account to account transaction that is not reversible, so only use it with someone you know you can trust.  I use it to pay my dog walker, for example.

Plus side, there is no fee involved to send or receive a Zelle payment.

Zelle has no BUYER protections.  Which in the case of the OP question makes it somewhat ideal for a seller.  No reversed charges or disputes.  When you have their money you have their money.  Getting the buyer to agree to this might be a bit difficult though since, as I mentioned above, it has no buyers protections.

[shadroch]

I use zelle to pay Mycomicshop and my landlord, but that is it. As people said, it offers no protection and should not be used to pay strangers.  I mostly use paypal but have used venmo a few times with no problems.

[Point Five]

I'm been warming to the idea of using Zelle for forum transactions with regular boardies. Done a few transactions and it's been smooth and fee-free.

Point well taken though re the lack of buyer protection. There are also daily and monthly transfer limits which vary from bank to bank, which is slightly confusing, but I'd still guess ~90% of the transactions here could use it with no issue.

 

[shadroch]

On 5/24/2022 at 6:42 PM, Point Five said:

I'm been warming to the idea of using Zelle for forum transactions with regular boardies. Done a few transactions and it's been smooth and fee-free.

Point well taken though re the lack of buyer protection. There are also daily and monthly transfer limits which vary from bank to bank, which is slightly confusing, but I'd still guess ~90% of the transactions here could use it with no issue.

 

It works until it doesn't.  It saves me three percent on the MCS auctions which adds up to an extra book or two a year.  I don't see it becoming common on the boards. 

[Buzzetta]

I’m leaning back toward the old days of personal check, money order or local pickup cash in hand.

I am seeing too many new scams with PayPal in dedicated Facebook groups where sellers are basically losing product and money.   I’m also seeing a lot of buyers get screwed as well.  I am not going to deny that. 
 

There was a book I was thinking of selling this year but I might put that up on the Comiclink exchange which is a form of ship and forget until you get the check. 

[theCapraAegagrus]

I will never use Venmo again, as it is the only platform where I have been scammed and they did not protect me as the buyer.

[DavidTheDavid]

I've used Zelle with trusted sellers with whom I had an existing relationship. I wouldn't use it with an unknown seller.