![]() “I am sick to my stomach,” she says.Īidan Dicke got caught up in a scam involving a jacket sold through Facebook. But she never heard from the friend again. ![]() The catch? She had to pay a $350 processing fee through Zelle. Here are just a few of the recent Zelle Facebook scams from our advocacy files:Ĭourtney Sorrells received a Facebook message from a childhood friend who wanted to “bless her” with a $2,500 cash transfer. At the moment, there are lots of Zelle scams on Facebook. If you don’t believe me, I should let you have a look at our files, which are filled with Zelle cases. Zelle is one of the preferred tools of criminals. (Under the terms of the reported deal between Zelle’s participating banks and customers, “fat finger” transactions such as Pauleen’s would not be eligible for a refund.)īut Pauleen’s transfer might be fixable, despite what Zelle claims. In Europe, Pauleen could have simply asked her bank to reverse the charge, and it would have. That may explain why wiring money is far more common in Europe than in the U.S. Regulations treat electronic money transfers and credit card purchases in a similar way. For example, in Germany, you have up to 13 months to challenge an unauthorized debit. ![]() It’s certainly true that other countries have stricter consumer protection regulations. laws don’t protect consumers when they make money transfers, that belief isn’t grounded in reality. While there’s a widespread belief that U.S. Conventional wisdom is that there are zero consumer protections. Pauleen’s case exposes one of the biggest misconceptions when it comes to American money transfers. “Keep in mind that sending money with Zelle is like using cash,” it says. And if you send money to someone you don’t know for a product or service, you may not get your money back for a product or service that’s not delivered. “My daughter really needs the money back to pay her rent.”īut Zelle’s terms are clear: You can’t cancel a payment once it’s been sent if the recipient is already enrolled with Zelle. “I would like to get the $1,725 back from the person who received it in error,” she says. If you have a Zelle problem, can you get your money back? That’s what Pauleen wanted to know. If you’re the victim of a Zelle scam, can you get a refund? Whether you want to call, click, or use one of our travel apps, one thing is clear: We make it easy to take it easy. We are dedicated to helping customers enjoy their trip. By the way, here’s my guide on how to get an unauthorized PayPal charge removed.įortunately, there are strategies to recover your money and regulations that will help you do it.įareportal’s portfolio of brands includes CheapOair and OneTravel. There are so many ways to lose money, not only through Zelle, but other money transfer services like PayPal and Venmo. Several banks that participate in Zelle, including Bank of America, JPMorgan Chase and Wells Fargo, are reportedly on the verge of announcing plans to refund some customers for fraudulent purchases made through Zelle. The Consumer Financial Protection Bureau (CFPB) is reportedly preparing new guidance that would require banks to reverse fraudulent transfers. (Here are the executive contacts for Zelle.) There’s an ongoing class action suit against Bank of America that claims the financial institution downplayed “huge” security risks of linking Zelle to one of its bank accounts. Zelle, a peer-to-peer payment app, is under fire for enabling fraudulent transfers between customers and scammers. Pauleen thinks it’s because the person feared they were the target of a Zelle scam. The unintended recipient didn’t respond to her daughter’s frantic calls. ![]() “The number to which she sent the money was just one digit off,” says Pauleen. She’d received a routine confirmation from her bank but no hint that her transaction was about to become yet another chapter in an ongoing saga of Zelle scams and accidental money transfers. When Susan Pauleen’s daughter sent her $1,725 rent payment through Zelle, she had no reason to suspect a problem. ![]()
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