Don't link a bank account. Use a credit card for online purchases. I don't use any online banking . No protection on having your money drawn from your bank account vs credit card.
I think you mean "sucker lost 870 million" since 2017. And I'm sure those same suckers lost more than that by being morons in other ways.
EXACTLY. ALTHOUGH MY CARDS GET HACKED SEMI- REGULARLY, I AM NEVER OUT THE $$.
As much as I’ve hated PayPal now for probably going on 25 or 30 years they are still the only online payment I use. Got started on eBay using it, but not much anymore. It is easier & cheaper than getting off my butt and mailing a check between friends and family.
As someone who sells a lot on Marketplace I can confirm that Zelle is the preferred payment platform of scammers.
I do cash only so I’ve never been impacted and I’ve thwarted enough scams that they seem to even leave me alone now.
I do cash only so I’ve never been impacted and I’ve thwarted enough scams that they seem to even leave me alone now.
Zelle relies on an informed user. As a former Chase banker and current account holder I have explained Zelle to clients and used it myself. Chase provides frequent online and mobile app warnings about the potential for fraudulent use because of Zelle's virtually instantaneous movement of money and nearly impossible means of recovery in the event of fraud. I don't know what the other banks or financial institutions are doing to inform their customers of this potential. I have no issues using it to send or receive funds so long as I am vetted or have vetted my recipient. The rush to proclaim "Zelle is evil" is just another example of people who have failed to heed the provided warnings and blame the means not the person for their failure to heed the warnings. This is much like the abuse of PayPal Friends and Family. Caveat emptor and venditor both apply in this case. This is akin to gun control proponents. Let's blame to tool not the user.
I have questions about Zelle and it seems like you may be the one to ask.
First of all, why do the scammers seem to greatly prefer it? All my online sales listings say cash only yet early on every other offer was a scammer wanting to pay me with Zelle and have their brother pickup the items. One time it even seemed kind of legit (and I was just curious) so I offered to send them a business payment request via Paypal but they insisted on Zelle.
Since I never went through with one I'm left wondering, what is the scam? Had I agreed to take Zelle for my item could they send me the money, pickup the item and then reverse the payment? I kind of doubt that it's it though because these scams usually aren't about the item, but rather just the money. And that being the case if they sent me money and reversed it wouldn't they only get their own money back?
I figured out the whole "send too large of a cashier's check and request a refund from it" scam but this Zelle one has me wondering. Any idea how they work these Zelle scams? There must be some Zelle policy or procedure that they exploit.
