this post was submitted on 16 Sep 2023
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scams
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Not entirely sure how the scam works, since I've never gotten past this part of the scam. But according to Venmo it takes 1-3 Business days for the money to be in your bank account. So maybe the scam is that they are spoofing "confirmation of payment" or something. Not sure how that would work. I assumed this was a "I never received the item, please refund my money" type of scam.
They likely make deposits into Venmo using stolen cards, make their payments using that, then when the card gets charged back by its legitimate owner, Venmo pulls your transaction before it makes it to your bank account and leaves you SOL.