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Treat instant payments, crypto and gift cards like cash
Why it matters: These payments are fast and usually can't be reversed, which is exactly why scammers ask for them. No legitimate government agency, utility or tech company asks to be paid in gift cards or crypto.
Do it
- Agree that instant payment apps are for people you've met, not strangers, sellers or 'officials'.
- Check your bank's daily limit for instant payments and lower it if you never use much of it.
- Before paying anyone new, confirm details on a channel you already trust.
- If money goes out by mistake, call your bank immediately, then report it to the FTC at ReportFraud.ftc.gov and the FBI at ic3.gov.
Check it worked: Your household only sends instant payments, wires, crypto or gift cards to people you know in person, and anyone asking for those methods gets the callback rule.
Simply put
Instant payments, crypto and gift cards are like handing over cash: once it leaves your hand, it's usually gone. That's why scammers ask for them, and why a request to pay that way is your signal to stop.
In detail
The rule is method-based, not story-based, which is why it survives new scripts: the story changes every month, the payment method rarely does. Watch for the second scam: 'recovery' services that promise to get lost money back for a fee.
If this is new to you: Does this mean no payment apps? No. Keep using them with people you've actually met. The rule is for strangers, sellers and 'officials' who ask to be paid that way.
Points toward the Long View: a rule about how you pay, which outlasts every new scam story.