Warning: Marketplace 'overpayment' cheque scam targeting sellers
Sellers on online marketplaces receive a cheque or bank transfer for more than the asking price; the buyer asks for the difference back before the payment bounces.
In this recurring scam targeting people selling items on classifieds and peer-to-peer marketplaces, the buyer contacts the seller and offers to pay by cheque or bank transfer. The payment arrives for an amount higher than agreed — attributed to a mistake or to covering a courier's fee — and the buyer asks the seller to refund the difference promptly.
The seller refunds the overpayment out of their own funds. Days later, the original cheque or transfer is reversed or bounces, leaving the seller out of pocket for both the item and the refund. The 'mistake' is deliberate — the overpayment is always designed to create a refund request before the fraud is detected.
If a buyer overpays by any method, wait for full, confirmed clearance through your bank before refunding anything or releasing the item. A legitimate buyer will not pressure you to refund before funds have cleared.
What to do
- Never refund an overpayment until your bank confirms the original payment has fully cleared
- Be suspicious of any buyer who overpays and requests a refund of the difference
- Prefer cash or verified real-time bank payments for in-person marketplace sales
- Do not release goods until payment is confirmed as cleared — not just received
- Report the incident to the platform and your national fraud service