Facebook Marketplace is a convenient way to buy and sell items locally, but it’s essential to stay aware of potential scams. Old Hickory Credit Union has some safety tips to help you avoid fraud and stay secure when using the platform.

1. Avoiding Scams on Facebook Marketplace

• Research the seller or buyer: Check the profile of the person you’re dealing with. If they have limited information, no profile picture, or very few friends, this can be a red flag.
• Beware of deals that are too good to be true: Scammers often attract buyers by offering items at prices much lower than market value. If the deal seems too good, take extra precautions.
• Be cautious with sellers requesting deposits: One common scam is when a seller asks for a deposit to "hold" an item until you can meet. Legitimate sellers should not require upfront payment or deposits for a local transaction. Paying a deposit can lead to the seller disappearing with your money and no item in return.
• Use secure payment methods: Avoid sending money via wire transfers, prepaid cards, or cash apps without purchase protection. Consider using methods like PayPal’s Goods and Services option, which offers buyer protection.
• Avoid sharing personal information: Be cautious about sharing sensitive details like your home address, phone number, or financial information. Stick to the basics needed for the transaction.

2. Safety Tips for Meeting in Person

• Meet in a public place: Arrange to meet in a well-lit, public location like a coffee shop, shopping center, or police station's "Safe Exchange Zone." Many police stations offer designated spots for online exchanges to ensure safety.
• Bring a friend: Whenever possible, take someone with you when meeting a buyer or seller. There’s safety in numbers.
• Inspect the item carefully: Before handing over money, inspect the item in person to ensure it matches the description and is in good working condition.
• Stick to daytime meetings: Make sure to meet during daylight hours when the area is busy. This reduces the risk of unpleasant encounters and helps you stay aware of your surroundings.
• Limit the cash you bring: If you’re buying, bring the exact amount agreed upon. If the seller claims they don’t have change or requests more, consider it a warning sign.

By following these safety tips, you can navigate Facebook Marketplace confidently and avoid scams. Stay smart, stay safe, and if something feels off, trust your instincts and walk away. For more tips on protecting your finances and making smart purchases, visit OHCU.org.