Protect Your Money From Zelle Scams - US News & World Report Bear in mind that you can only block users on the official Zelle app not via your banks mobile app., Once users are blocked, they wont show up in your network, be able to find you on Zelle, or send money requests or payments., If youve given any sensitive information to a scammer, youll want to freeze your credit., Fraudsters use information such as your name, Social Security number (SSN), or bank account information to open new accounts or take out loans in your name., A credit freeze stops anyone from accessing your credit report and opening new accounts in your name.. Youll also connect with other readers who want to make the world a better place. If this happens, you should contact your bank immediately, but make sure to confirm that it is indeed an unauthorized payment. The catch? The agent said there was no way for Chase to reverse the transaction. If you are enrolled in Zelle with a participating financial institution, you must reach out to their customer support team. Heres how to avoid some common mistakes. Online POS Terminal uses a PIN pad to process EMV payments from your PC or laptop. A scam is when you knowingly send money to someone you do not know or trust. He said, okay, sure, but let me go home and do that on my computer. But in a few hours, he texted me and said he wanted to contact his bank for more information. Our payments solutions give your customers the flexibility to make purchases however they choose with added security to protect their accounts. The description herein is a summary and intended for informational purposes only and does not include all terms conditions and exclusions of the policies described. Your financial institutions will likely argue that it must be a math error committed by you or the institution. FYI: There is also currently no way to refuse a surprise Zelle payment by a stranger. Make sure to save those as evidence, since they could be useful if you decide to take your case further. But Zelles terms are clear: You cant cancel a payment once its been sent if the recipient is already enrolled with Zelle. In this guide, well cover what to do if youve been scammed on Zelle, and how to try and get your money back., Peer-to-peer payment systems like Zelle (along with Cash App and Venmo) treat transactions like cash meaning theres no way to cancel a Zelle payment once its been sent.. Disputing a Charge | Credit Card | Chase.com That means that you cant just contact a bank and reverse a transaction like you would with a credit or debit card transaction. Plus, get your free credit score! There are so many ways to lose money, not only through Zelle, but other money transfer services like PayPal and Venmo. But that is different from reversing a payment, which would occur after a payment is cleared. We will report the information you provide to the recipients bank or credit union to help prevent anyone else from having the same experience. Whether you choose to work with a financial advisorand develop a financial strategy or invest online, J.P. Morgan offers insights, expertise and tools to help you reach your goals.