Facebook Now Competes With Western Union and MonneyGram

This means Scammers will soon be switching to Facebook Money Transfers and You Are Screwed!

Facebook recently launched a new money transfer service through Facebook Messenger. It’s not bad enough that they want to know everything about your whole life, now they want their fingers in your bank account too!

What this means is that you can easily transfer money via Facebook from anyone to anyone that has a profile on Facebook. You would think that would add a whole new layer of protection? Wrong. It is far worse than Western Union or MoneyGram.

W U & MoneyGram both require that money be transferred from a REAL PERSON to a REAL PERSON. The person that receives it must show valid identification. Not really true with Facebook. All they have to have is a debit card, ANYBODY’s DEBIT CARD. While in the case of real law enforcement they can trace the money transaction to a real person, you can’t. All you will know will be their Facebook profile name.

There is also NO RECOURSE once you send the money transfer with Facebook. You cannot do a refund request if it turns out to be a scammer. In that regard, it is just like Western Union and MoneyGram. There is only one Money Transfer Service that does protect you, and that is PayPal. Of course scammer victims know none of this, and don’t really care because their heads are in the clouds and obviously not thinking things through.

According to Facebook:

You can send or receive money in Messenger (ex: send your friend $10 for lunch or receive $500 from your roommate for rent) after you add a debit card issued by a US bank to your account and install the latest version of Messenger. Once you add a debit card, you can create a PIN to provide extra security the next time you send money.

You can send or receive money in Messenger if you and your friend:

  • Live in the United States
  • Are at least 18 years old
  • Add a Visa or MasterCard debit card issued by a US bank to your accounts
  • Set your preferred currency to US dollars
  • Aren’t disabled from sending or receiving money on Facebook

You can send or receive money in Messenger using a Visa or MasterCard debit card issued by a US bank. We currently use debit cards s