First Southern National Bank

4 Tips to Avoid Person to Person Payment Fraud

4 tips to avoid person to person payment fraud

Person to person or P2P is a convenient and secure way to send money digitally to a recipient, using only their name and email address. The sad reality is that there are a lot of cybercriminals out there trying to steal from consumers. recently released a list of helpful tips to help you avoid falling victim to scams involving P2P payment scams.

Don’t use P2P services to purchase products.

Be skeptical if an online retailer requires payment via a P2P payment service. In many instances, this is a sign of a scam. If you want enhanced security with your online purchases, First Southern National Bank recommends utilizing a digital wallet. Digital wallets are not an open door to your accounts. In most cases, vendors don't have access to your card number because each transaction uses a unique, random transaction number. Find out more about digital wallets here at

Only pay with P2P services to people you know.

P2P payments are meant to be used between friends and family, or with people you know well and trust. First Southern National Bank recommends paying for services like a hairdresser, babysitter, lawncare, and for paying rent or splitting a restaurant tab.

Double- and triple- check the address, username, or phone number of the person you are trying to send money to.

In addition to double and triple checking that you have the correct contact information of your payee, a best practice when using First Southern National Bank’s P2P service is to try sending a small amount first to confirm that your intended person received it. If you mistakenly send money to the incorrect person, it can be difficult to get the money back, so always make sure you have the correct email address and phone number associated.

Opt-in for stronger security.

Make sure that you have your security features set up for your First Southern National Bank mobile app. You can check your settings under Profile – Security – Login options.

Take advantage of security features such as TouchID, FaceID and PIN login. These extra layers of security can help protect your money if your phone falls into the wrong hands.

First Southern National Bank’s person to person payment feature is located within the mobile app, so there is not a necessity to utilize a 3rd party payment system, such as Apple Pay, Zelle, Venmo.

To find out other security tips to assist with fraud, check out the First Southern blog at

Jenna Walker
Communications Specialist

(606) 365-3555 Ext: 19405