Best choices for account settings
Hi there. EDIT: I realize I should clarify my post. It is only because somebody wanted to purchase something from me today that made me decide to open a Venmo account. I do not have a business. I’m dabbling in a craft and this is the first item that a friend has actually wanted to buy from me and it was a fluke. If I start actively producing my craft and seriously selling them at fairs, and on a website, etc., I will certainly open a business account. That could be in the future, but it’s not here yet. I don’t really want to open two Venmo accounts, one for paying back my friends for lunch and another for selling a used sofa or an embroidered tea towel to someone, twice a year. Sorry if I misrepresented this as a question about evading taxes 🤷♀️when my main concern is data security and scams.
Original Post:
After years of resisting, I am finally caving in and am interested in setting up a Venmo account strictly for the purpose of taking in-person payments for some craft items I may sell at an occasional craft fair or private sale. (EDIT: Also, to pay back friends for lunch or accept loan paybacks from my kids, etc. The rare sale of a craft item or used item sale is just the reason I am finally giving in to pressure to use Venmo) I am very aware of the common Venmo scams and don’t think I’ll fall for any of them. With security in mind, what are the safest settings to choose as I set up my account? 1. Should I link it to my credit union account? Or to my major bank credit card account? 2. Privacy settings on “private?” 3. Do not allow access to my Contacts? I plan to ask to see ID when I accept a Venmo payment in person. Is that OK to do? If somebody buys one of my cute crafty items , I will ask them to NOT identify the purchase as for a product or service, but simply say “lunch” or some such. (i’m just setting up a private account and don’t really consider what I’m doing as a business at this point). Any other tips for how I should manage my new Venmo account? I don’t wanna be a sucker.