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?

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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.

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Anonymous 0 Comments

This is why banks created Zelle. With Zelle they make all the rules that benefit them and absolve themselves of any responsibility. If this were within the regulated banking system, there would be protections. If you think about it, why would the banks create Zelle when there is already a system in place to move money which they use all the time.

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