6 On Your Side: Consumer Confidence, Facebook Marketplace and local buy-sell safety
(ABC 6 News) – “My daughter’s two bicycles! She outgrew one, had to get a second one; went straight back there again,” Parent Michelle Concha said.
Michelle loves shopping on Facebook Marketplace.
“They’ll have a price, but if i think that it’s a little higher, and then they meet me at my price, then i definitely feel like a winner,” Concha said.
But along with getting a good deal using social media, you can also get scammed. The amount consumers have lost to all types of social media fraud grows every year – totaling 770-million in 2021.
But no matter how sophisticated scammers are, there are ways to protect yourself. Think about where the sale will take place.
Meet in a public, well-lit area, and never give away your home address! Consider a police station. Some even have designated parking spots where marketplace meet-ups are watched by security cameras.
Another tip – Never exchange cash. Facebook Marketplace recommends a secure person-to-person payment method, but Consumer Reports says not all P2P apps are the same.
“For each of these apps, don’t just assume that their default settings are ones that manage your privacy, security, and also have the best policies for helping you get your money back in case of an error,” Delicia Reynolds Hand of Consumer Reports said.
CR looked at four popular peer-to-peer apps: Apple Cash, Cash App, Venmo, and Zelle and found that none of them reimburse users for sending money to the wrong person or sending too much money by mistakenly adding extra digits to an intended amount.
As for Michelle Concha, she has a tip for shopping Facebook Marketplace. take a peek at the seller’s profile!
“I actually bought a car on marketplace! And it’s because we had people in common in the area, that I felt actually more secure about buying the car from that person,” Concha said.