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

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.