Bank sends wrong person $ and it immediately has to be returned or charged will be filed. If I Zelle the wrong person, I am straight SOL. Why the difference?

Question

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.

In: 650

Answer 1

> A. Bank sends wrong person $

> B. I Zelle the wrong person

This is a false equivalence. The right way to state it is:

> C. I tell bank to send to wrong person

> D. I tell Zelle to send to wrong person

What happens in case C ? Bank may say tough, you told us to send to X, we sent to X. Same as Zelle.

Then consider:

> E. I tell bank to send to Y, but they send to X

> F. I tell Zelle to send to Y, but they send to X

No difference, I think, both bank and Zelle are on the hook to fix their error.