NEW HAVEN, Conn. (WTNH) – You likely know about or use peer to peer payment apps like Venmo, Zelle or Cash app.

Usually these apps are tied to your bank account and allow for you to send money to someone or accept payment, instantly. Although these apps are easy and handy you want to be cautious while while using them.

Consumer reports says some of the same qualities that make peer to peer services so appealing to consumers is speed and convenience but that also exposes users to significant risks.

In most cases you’re liable for no more than $50 in the case of fraud or a payment made by mistake. But peer to peer payment services generally offer little to protection against scams. Some peer to peer apps will mediate if you accidentally paid the wrong person but will not reimburse you directly.

So here are some tips to protect yourself:

One: Use peer to peer apps only with people you know and trust and make sure to double-check that you’re sending money to the right person

Two: Don’t use peer to peer services for business purposes. Look instead for a payment app created for business users, like square cash for business or traditional PayPal (but not its friends and family option, which offers fraud protection only in certain circumstances).

Three: Keep your app up to date. The latest security fixes can help protect against theft.

Four: Alert the peer to peer app if something goes wrong.

Five: Let your bank or credit card provider know as well even though there’s no guarantee they can do anything but it does not hurt to ask because the organization may be able to help.