Peter Rudegeair
speaker
756 appearances
12 recordings
1 series
first heard Nov 2017
last heard May 2021
Peter Rudegeair’s voice in public audio — every appearance, attributed to the second.
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Appearances
The problem is once they're on the platform, it's a lot harder to
kick them off the platform, and people do get through those screens.
Because of that, Venmo builds in these protections to themselves in their terms and conditions, saying that if you owe us, we might come after you.
It does say that it relaxed some of those during the pandemic, right?
So if you told Venmo that you...
had an economic hardship because of the pandemic they said they would stop calling you for 30 days over negative balances if you for instance direct deposited your stimulus check into venmo and had a negative balance they said we're not going to kind of garnish that to make good on your debt but really the service is not designed for a lot of the uses people use it for right it's mainly designed to pay people you know friends and family
so that if something goes wrong, you can get your money back.
It's not designed, even though people use it all the time, to pay strangers over the internet.
It's not designed for commercial purposes where you're buying goods and services, although they're slowly trying to change that and build in more protections.
So really what Venmo says is kind of buyer beware.
You know, this is not what it's designed for.
And if you use it that way, it's a violation of our terms and conditions.
Yes.
They did say that if you report to them having some sort of economic hardship because of the pandemic, they might stop calling you for 30 days on collections.
With stimulus checks, that's kind of a one-off.
That's a particular, they know that money's coming, so they're not going to be too upset about or too aggressive in collecting debt that you say they owe because you're in
valuable Venmo customer.
But beyond that, they don't do much to ascertain your financial situation.
They're not pulling your credit report.
They're not doing a credit check.
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