Anyone know how Venmo flags payments as goods and services?

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January 11, 2022, 06:49 PM

frayedends

Anyone know how Venmo flags payments as goods and services?

My wife booked a girls weekend with friends and they are reimbursing her through Venmo. For some reason about half of them ended with the wife getting a fee for “goods and services “. This is not accurate. The people that sent those payments say they did nothing different. Can’t figure out why or how this is happening.

January 11, 2022, 07:11 PM

Balzé Halzé

Nonsense. Some of them obviously clicked the tab indicating that this payment was for a "goods or service."

~Alan

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January 11, 2022, 07:20 PM

mark123

I bet this is the last time she offers to front the loot.

I think there are fees if they use a credit card instead of a bank transfer.

January 11, 2022, 07:22 PM

ensigmatic

quote:
Originally posted by Balzé Halzé:
Nonsense. Some of them obviously clicked the tab indicating that this payment was for a "goods or service."

That would be my guess.

quote:
Originally posted by mark123:
I bet this is the last time she offers to front the loot.

At least for *that* group

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January 11, 2022, 08:08 PM

frayedends

No such button on Venmo. Only the comments but strangely 2 with same exact comment, one fee, one no fee. Not the credit card fee as that is charged to the sender.

Finally found some posts on google and apparently they have some algorithm to decide but it’s not public info. Very strange. Anyhow we are only talking like $3.50 per transaction so not big money but annoying nonetheless.

January 11, 2022, 08:16 PM

Balzé Halzé

quote:
Originally posted by frayedends:
No such button on Venmo.

There certainly is. It was no algorithm. Someone clicked over the "for purchases" tab.

~Alan

Acta Non Verba
NRA Life Member (Patron)
God, Family, Guns, Country

Men will fight and die to protect women... because women protect everything else. ~Andrew Klavan

~Alan

Acta Non Verba
NRA Life Member (Patron)
God, Family, Guns, Country

Men will fight and die to protect women... because women protect everything else. ~Andrew Klavan

January 11, 2022, 08:31 PM

frayedends

quote:
Originally posted by Balzé Halzé:
Could be wrong of course, but just going by Occam's razor...

I’m sure you are right. I don’t use Venmo much at all. Maybe twice in my life. I didn’t recall that button and I asked the wife and her friends said there was no choice like on PayPal. But these women may not be the most observant. I much appreciate you correcting me. Now the wife can correct them.

January 11, 2022, 08:40 PM

Perception

The button wasn't there originally, they added it withing the last few years I would say (I don't use venmo too much either). I guess Venmo decided they needed to add some kind of protection in order to grow.

"The people hate the lizards and the lizards rule the people."
"Odd," said Arthur, "I thought you said it was a democracy."
"I did," said Ford, "it is."
"So," said Arthur, hoping he wasn't sounding ridiculously obtuse, "why don't the people get rid of the lizards?"
"It honestly doesn't occur to them. They've all got the vote, so they all pretty much assume that the government they've voted in more or less approximates the government they want."
"You mean they actually vote for the lizards."
"Oh yes," said Ford with a shrug, "of course."
"But," said Arthur, going for the big one again, "why?"
"Because if they didn't vote for a lizard, then the wrong lizard might get in."

January 11, 2022, 11:42 PM

funnymech

It was added in the last few months. It wasn’t there when I paid for my fall hockey season, but it was when I paid last week

January 12, 2022, 04:25 AM

frayedends

quote:
Originally posted by funnymech:
It was added in the last few months. It wasn’t there when I paid for my fall hockey season, but it was when I paid last week

Thanks. Now I don’t feel as stupid for saying it doesn’t exist.

January 12, 2022, 07:08 AM

Black92LX

My understanding is It was added recently because of the upcoming/new $600 IRS reporting requirement.
Folks are screaming about it but it only is for business profit making things.
So they added the button to differentiate the two.
I think they are adding or have added some sort of purchase protection as well.

But yes your wife’s friends hit the button.
Or it is possible their app is not up to date and does not have the button and it now defaults to the fee based option on the old app.

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January 12, 2022, 07:10 AM

Black92LX

quote:
Originally posted by the_sandman_454:
Just say no to any of these apps and have her friends reimburse in cash.

Why?

January 12, 2022, 11:50 AM

1967Goat

quote:
Originally posted by Black92LX:
quote:
Originally posted by the_sandman_454:
Just say no to any of these apps and have her friends reimburse in cash.

Why?

Your post 2 posts above?
...new $600 IRS reporting requirement.
Is 1 reason for me.

January 12, 2022, 12:06 PM

Balzé Halzé

quote:
Originally posted by 1967Goat:

Your post 2 posts above?
...new $600 IRS reporting requirement.
Is 1 reason for me.

Supposedly, that will only apply to "purchases" or for vendors, not payments between private individuals.

Now, whether to trust that assertion is another matter.

~Alan

Acta Non Verba
NRA Life Member (Patron)
God, Family, Guns, Country

Men will fight and die to protect women... because women protect everything else. ~Andrew Klavan

January 12, 2022, 12:40 PM

cas

Did they all send her the same amount of money?

That might look to someone / some computer that it's sales.

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January 12, 2022, 12:45 PM

Balzé Halzé

quote:
Originally posted by cas:
Did they all send her the same amount of money?

That might look to someone / some computer that it's sales.

Or it's a group of friends splitting a lunch tab.

Seriously, Venmo doesn't do that, make assumptions about your transactions. Not yet anyway.

~Alan

Acta Non Verba
NRA Life Member (Patron)
God, Family, Guns, Country

Men will fight and die to protect women... because women protect everything else. ~Andrew Klavan

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