Exactly what title says, why is there no way to recoup zelle definitely or wire transfer(maybe?) but if banks send money to wrong person there are severe penalties for not returning.
It largely depends on how the money is sent. ACH, wires, checks all have different rules (terms of service) to use those rails. When you sign up for Zelle you agree to their terms of service which includes being SOL for sending $$ to the wrong person.
For the non-technical piece: Banks know that they are going to make mistakes. I’m not going to say it’s collusion but let say that I work for Bank A and send a wrong transaction to a customer at Bank B. The next day Bank A realizes this and tries to pull back funds. If Bank B wants (depending on the rail used) they might be able to push back and collect the windfall for their customer. However, if Bank B runs into a similar situation with Bank A you know they aren’t going to help them. By working together, the banks can effectively lower their risk.
As stated in other comments, terms and conditions are a part of it. The other part is, with Zelle (or ACH ,Wires, Etc.) you gave the bank instructions, and they followed them. It’s not their responsibility to fix your mistake. It’s yours. The bank might be willing to request the money back, but there are no guarantees.
If the bank made a mistake, they would make you whole, whether that means getting the receiving bank to return the money or paying out of their pocket.
Zelle is not a bank. It’s basically some guy (some company).
If they decide you’re fucked you have no recourse other than to sue. And at that point you need to determine if a lawyer is worth the amount you’ll recoup.
Don’t use Zelle if you know you’re the type of person that fucks up. They’re not gonna help you.
Because it’s their business and they make the rules.
You go to 7-11 and get 11 packs of gum, the cashier only rings you up for 10, they then notice after completing it on their register that it was 11. The cashier has every right to require you to pay for that extra pack.
File charges, and the money will be returned.
Basically Zelle doesn’t want to go through the hassle, and risk of returning money. They’ll drag it out as long as they can, and try to point the finger. Banks do the same thing.