B Settlement: Venmo Scam?
Many people have been writing us to ask about a possible scheme called B Settlement scam. Some called it the “B Settlement PayPal scam” others are referring to Venmo transactions. All the suspicions come from a text message that many people have received on their smartphones in the last few days.
The B Settlement text looks like this – screenshot below:
The content says: “Your B Settlement is now available on Venmo” – or PayPal. The difference was that on Venmo the text message doesn’t show the sender, while the PayPal one features the reason for this transaction.
B Settlement PayPal: Real Transaction
Long story short, the B Settlement Paypal (or Venmo) is real, not a scam. Why did you get it?
It is a payment you received from the Bumble dating app, as a result of your claim submission last fall. The reason is named “B Settlement” rather than “Bumble Settlement” is for privacy reasons, as not everyone wants to be known for joining dating apps. Especially when paying for gold memberships, too.
How To Report a Scammer
Let your family and friends know about this article on social media. You can also officially report suspicious activity do it to the Federal Trade Commission (FTC) using the link below:
How To Protect Yourself More
If you want to receive the most notorious scams on a weekly basis, subscribe to the Scam Detector newsletter here. You’ll get from us periodic emails – no spam.
Meanwhile, educate yourself with some other Venmo fraud-related articles right under this paragraph. Last but not least, use the comments section below to expose any scams you know.
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