Online Marketplace Scams

Browsing an online marketplace for new or used items? Beware of these popular scams and get tips on how to avoid becoming a victim.

When it comes to online marketplace scams, a lack of awareness can really hurt your wallet. Scammers are targeting both buyers and sellers with crafty tricks that can catch you off guard. Learn how to spot marketplace scams along with learning ways to protect yourself.

Online Marketplace Scams Target Both Buyers & Sellers  

Whether you’re looking for a houseplant, coffee table, or new gaming console, online marketplaces can be great places to find bargains. But be careful. Anonymous listings and virtual transactions are key ingredients for online marketplace scams, which can take a variety of forms.

You May Not Get What You Paid For

If you pay in advance for something you haven’t seen in person, the item may not arrive as advertised. In fact, it may not arrive at all. A picture of a cute puppy or designer jewelry is easy to post in a marketplace, but if you pay without knowing the seller personally or seeing the product, the seller can take your money and disappear.

Payment Type Matters

Pay attention to listings that insist on an unusual payment method, such as gift cards. Gift card numbers are hard to trace, so if you don’t get what you paid for and the seller’s profile has disappeared from the marketplace, it’ll be very difficult to track them down or get your money back.

Also keep in mind that with many digital payment methods, once you send a payment it often can’t be reversed, making it even more important that you know who you’re dealing with and what you’re buying.

Scams Targeting Sellers

While many people are aware of scams targeting buyers on marketplace sites, sellers can get scammed too. One tactic is for scammers to fake payment receipts or confirmations with an amount that’s higher than the asking price. The supposed buyer may claim to have purchased a product above your listed price and request a refund without actually having placed an order.

Another marketplace scam growing in popularity involves a fake email appearing to be from Zelle® claiming that a transaction cannot be completed until your Zelle® account is upgraded.

In reality, the scammer is tricking you into paying them for an upgrade that doesn’t exist. Zelle® doesn’t offer account upgrades, and it should only be used to send money to others you know and trust.

A+FCU and Zelle® do not offer members/customers any protection for authorized payments through the Zelle® Payments Service – including coverage for non-receipt, damaged, or not-as-described claims related to the purchase of goods and/or services.

Warning Signs – What To Watch For

Unreasonably Low Prices  

Sometimes an incredibly low price is literally too good to be true. In most instances, it’s best to pass on this type of offer unless you can inspect the product in person and ensure its authenticity.

Sales Pressure

If the seller creates a sense of urgency by warning that the item won’t last long or many others are interested, take your time and think it through. Creating urgency is a technique to get you to act on impulse instead of logic, and it could lead you to overlook something suspicious.

Fake Profiles

Keep an eye out for telltale signs of a false profile, like a generic profile picture, only one friend or connection, or a profile name that doesn’t match the name or email address on the invoice.

Summary

When it comes to making safe marketplace purchases, remember to slow down and ask questions. If you suspect suspicious activity, report the user to your marketplace platform.

U.S. checking or savings account required to use Zelle®. Transactions between enrolled users typically occur in minutes.

Zelle® and the Zelle® related marks are wholly owned by Early Warning Services, LLC and are used herein under license.

Membership required. Adult members 19 years of age and older with an eligible checking account will be able to utilize Zelle®. Eligible checking accounts include Value Checking, Cash-Back Checking, or A+ Checking. Transaction limits apply. To transfer money from your A+FCU accounts with Zelle®, you will need to use the A+ Mobile App. Additional conditions and restrictions may apply. Subject to change without notice.

There is no fee to send or receive money via Zelle® at A+ Federal Credit Union, however there may be instances where using Zelle® may incur charges: if you send a transaction for which you have insufficient funds, non-sufficient funds (NSF) fees may apply.