Mobile payment services

What should I do if I pay the wrong person by mistake? The apps offer suggestions on their websites. Venmo, for instance, advises sending the person a request for payment, in the same amount that you paid, along with a note asking the person to repay you the money you sent by mistake. This “may help you get your money back faster” than contacting Venmo support, the website says. If that doesn’t work, the site says, contact support — “and we’ll do our best to help.” But the do-it-yourself approach depends on the cooperation of the recipient. And some may be skeptical because banks also warn mobile app users to be wary of requests to refund mistaken payments, as they could be fraudulent. The American Bankers Association, for example, advises users to “never” send a payment to someone who says you got an accidental payment via one of the payment services. Instead, it says, contact the payment app about the error.

How can I avoid falling for a potential scam? Be suspicious of unexpected requests for payments, the Federal Trade Commission advises, such as someone pretending to be a loved one needing quick cash for an emergency. Confirm, by speaking to the person, that the request is real and not from someone who hacked into the person’s account. Be aware that some scams may use messages that appear to come from your bank or from the transfer app itself. Apple Cash, for instance, warns about scammers posing as Apple tech support claiming to have found a problem with your device. They may ask you to test the device by sending a payment via Apple Cash. “You shouldn’t make this payment,” Apple Cash’s website says.

What should I do if I am a victim of a scam using a payment app? The American Bankers Association recommends contacting both the app and your bank, as well as the Federal Trade Commission. Complain to the Consumer Financial Protection Bureau and to your state attorney general’s consumer fraud office.