Stay ahead of payment-app scams: what to know before you tap "send"

Do you use apps like Zelle, Venmo, or Cash App to send or receive money? If so, it’s important to be aware of payment app scams—fraudsters have increasingly turned our favorite conveniences into traps. Below, we explain how these scams work and share smart, practical steps to protect yourself.

How payment app scams work

Scammers often use one of two common methods to trick victims:

Bogus “withdrawal” or “account alert” messages

You might receive an email, text, or social media message—supposedly from your payment app—warning that a large withdrawal or suspicious transaction is about to hit your account. The message includes a phone number to call to “fix” the issue. If you call, the “representative” asks you to download a help app or grant remote access to your phone. Once you do, the scammer can empty your account or steal login credentials.

Fake look-alike payment apps

Fraudsters build apps that mimic official payment apps (same name or similar UI) and publish them on third-party app stores or shady websites. People install them believing they’re legitimate, then unknowingly hand over sensitive data or allow the scammer to access their bank.

Once a scammer has access—or once you send money—recovery is often impossible. Many peer-to-peer (P2P) transfers are instant and irreversible.

How to protect yourself

• Only download payment apps from trusted sources (like the Apple App Store or Google Play Store).
• Verify the app’s developer name, reviews, and ratings carefully—watch out for apps with few reviews or clusters of suspiciously positive feedback.
• Before installing, scrutinize the permissions the app requests. Legitimate apps rarely need full phone or device access.
• Keep your phone’s operating system and apps updated. Security patches help block known vulnerabilities.
• Use strong security features on your phone/app: passcode, fingerprint/Face ID, two-factor authentication (2FA), etc.
• Treat unexpected payment requests (especially from strangers) like cash. Only send funds to people you know.
• Check your bank and payment app statements regularly for unauthorized charges.
• Be skeptical of “too good to be true” offers or urgent messages. Scammers often use urgency to pressure victims.

What to do if you think you’ve been scammed

• If you were using Cash App, you can reach support at 1-800-969-1940 or use the in-app “chat” feature for the fastest response.
• If you used the stand-alone Zelle® app, you can report fraud to 1-844-428-8542 (or via Zelle’s official support contact form).
• If you’re using Zelle through your bank or credit union, contact the number on the back of your debit card—they handle dispute claims.
• For other apps (like Venmo or PayPal), use their in-app support or official website help centers. And remember to avoid relying on contact numbers found in unsolicited messages.
• Consider reporting the scam to the Federal Trade Commission (FTC) at ReportFraud.ftc.gov. Reporting helps protect others and may aid any recovery process.

Protect your money — and your peace of mind

Payment apps are convenient and helpful when used wisely. But like any tool, they’re only safe when you know the risks. A little caution now can help you avoid major heartbreak and financial loss later.

Everwise Credit Union is here to help you stay safe — whether you’re sending, saving, or just managing your money.