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

You can cancel before they accepted it and you’ll be okay but otherwise SOL. In this kind situation Zelle functioned just as intended so from their perspective they did not make the error, you did.