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The Water Cooler
General Discussion
Beware Zelle online payment service
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<blockquote data-quote="leemozoid" data-source="post: 4384277" data-attributes="member: 28646"><p>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.</p></blockquote><p></p>
[QUOTE="leemozoid, post: 4384277, member: 28646"] 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. [/QUOTE]
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Beware Zelle online payment service
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