Payment App Scams

Peer-to-peer payment apps make it easy to split a bill or pay a coworker. They also make it easy for scammers to take your money, because a payment you send yourself is usually instant and very hard to reverse. Treat them like handing over cash.

• Everyone
• Workers

Why scammers love payment apps

• Money moves in seconds.
• If you authorized the payment, even because you were tricked, the app or bank may not have to refund it.
• Scammers can disappear behind fake names and accounts.

Common scams

• Bank impersonation: “Your bank” calls about fraud and tells you to send money to yourself through the app to “protect” it. The money goes to the scammer. Banks never ask you to do this.
• Accidental payment: a stranger sends you money “by mistake” and asks for it back. The original payment may be from a stolen account and reverse later. Contact the app’s support instead of sending money back yourself.
• Fake customer support: searching online for the app’s phone number leads to a scammer. Use only the help section inside the official app.
• Marketplace and rental scams: paying a deposit for something that doesn’t exist. See Marketplace Scams.
• Prize and job scams: pay a “fee” to collect winnings or start a job. See Job Scams.

Safe use

• Only send money to people you know and trust.
• Double-check the recipient’s name, phone number or email before sending. Send a small test amount to new contacts.
• For purchases, use a credit card or a payment option with purchase protection, not “friends and family.”
• Turn on the app’s security features: PIN or fingerprint lock, notifications and two-factor authentication.
• Link the app to a credit card or a separate account with a small balance, not your main savings.

If you sent money to a scammer

1. Contact the app through its official support right away, and your bank or card issuer.
2. Ask them to stop or reverse the payment, and report the scammer’s account.
3. Report to the FTC at ReportFraud.ftc.gov and the FBI at ic3.gov.
4. Be careful of “recovery” services that promise to get your money back for a fee; they’re often scams too.

Last updated: October 1, 2026